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The post Will Ethereum Price crash More Next week?? appeared first on Coinpedia Fintech News

Ethereum is under pressure as U.S.-based ETFs linked to it have seen outflows for seven weeks in a row. Just this week, nine Ethereum ETFs lost a total of $82.47 million. This steady withdrawal of funds has taken a toll on ETH’s price, which dropped 10% in the last week. With momentum slipping, many are now wondering, is a bigger crash coming next week?

Ethereum ETF Outflow Continues

On April 11, Ethereum spot ETFs saw a total outflow of $29.2 million, making it the fourth day in a row with negative movement. Leading the outflow charge was Grayscale’s fund (ETHE), which recorded the highest withdrawal at $26.1 million, followed by Bitwise (ETHW), which saw $3.1 million pulled out.

This ongoing drop in big investor support is causing more selling, making Ethereum’s price fall further.

But it’s not just the money flowing out that’s causing concern. Ethereum’s network activity is also slowing down as fewer users are interacting with apps built on the Ethereum blockchain. 

In fact, unique active wallets on Ethereum have dropped by over 33% in the past month.  In comparison, Solana only saw a 16% decrease, while Tron saw a 16% increase in activity.

Major Bank Losing Confidence In ETH

To make matters worse, Standard Chartered Bank has lowered its year-end price target for ETH by 60%. The bank now expects Ethereum to end the year around $4,000, citing concerns over its scalability and competition. 

They believe Ethereum has become too reliant on Layer 2 networks and may be losing its edge.

Will ETH Price Continue To Drop?

Ethereum’s price has dropped by 10% in the past week, and things could get worse if demand keeps falling. Without strong support from big investors, it’s harder for ETH to bounce back anytime soon.

Right now, charts show a bearish trend, meaning sellers are still in control. If the price falls below $1,500, it could drop even further, possibly to the $1,300 or $1,200 range.

On the flip side, if ETH holds strong and climbs above $1,700, there’s a chance for a short-term recovery. In that case, the price could rise toward $1,900 or even $2,000 in the coming days.

The post Will Ethereum Price crash More Next week?? appeared first on Coinpedia Fintech News
Ethereum is under pressure as U.S.-based ETFs linked to it have seen outflows for seven weeks in a row. Just this week, nine Ethereum ETFs lost a total of $82.47 million. This steady withdrawal of funds has taken a toll on ETH’s price, which dropped 10% in the last week. With momentum slipping, many are …

The post Trump’s Crypto Advisor Explores Gold-to-Bitcoin Swap— BTC Eying $112k! appeared first on Coinpedia Fintech News

Bitcoin continues to gain traction in the U.S. political landscape, with President Donald Trump’s top crypto advisor, Bo Hines, showing openness to a bold idea—swapping Fort Knox gold reserves for Bitcoin. This potential move could reshape how the U.S. views digital assets and even set the stage for Bitcoin as a national reserve asset.

Bitcoin as “Digital Gold”

Hines, who serves as the Executive Director of Digital Assets for Trump’s campaign, recently spoke about Bitcoin’s significance, calling it “digital gold.” He highlighted the idea that Bitcoin deserves recognition similar to physical gold, reinforcing the belief that the U.S. should be more open to digital assets.

In a recent interview with FOX Business journalist Eleanor Terrett, Hines stated that he is open to discussing the possibility of exchanging Fort Knox gold reserves for Bitcoin, provided it remains budget-neutral.

However, he noted that such a move must be budget-neutral, meaning it should not impact taxpayers or the overall government budget. While no concrete plans are in place, he indicated that the administration is going with innovative ideas in the crypto space.

Lummis’ Push for a Bitcoin Reserve

This discussion aligns with the efforts of Senator Cynthia Lummis, who has long advocated for a national Bitcoin reserve. Lummis previously proposed selling a portion of the Federal Reserve’s gold certificates to acquire Bitcoin. 

Her 2024 BITCOIN Act suggested purchasing 1 million BTC, representing about 5% of Bitcoin’s circulating supply.

Although her initial bill did not gain traction, she recently reintroduced the proposal at a Bitcoin conference, reigniting the conversation on integrating Bitcoin into national reserves.

Exploring Other Cryptocurrency Too

The discussion also touched on whether the administration would support altcoins beyond Ethereum, XRP, Solana, and Cardano—four assets Trump previously mentioned in his first national crypto reserve statement. 

Hines clarified that while these assets were highlighted due to their market dominance, the administration is open to broader crypto adoption.

Bitcoin Price Analysis

As of now, Bitcoin remains in the spotlight as its price hovers around $84,170 with a market cap hitting $1.67 trillion. Meanwhile, crypto analyst Ali Martinez believes that for Bitcoin to continue its upward trend, it must stay above $94,000. If it breaks this level, BTC could surge to $112,000. 

However, if the price falls below $76,000, a sharp drop to $58,000 or lower might follow. 

The post Trump’s Crypto Advisor Explores Gold-to-Bitcoin Swap— BTC Eying $112k! appeared first on Coinpedia Fintech News
Bitcoin continues to gain traction in the U.S. political landscape, with President Donald Trump’s top crypto advisor, Bo Hines, showing openness to a bold idea—swapping Fort Knox gold reserves for Bitcoin. This potential move could reshape how the U.S. views digital assets and even set the stage for Bitcoin as a national reserve asset. Bitcoin …