Bitcoin’s price has taken a sharp hit, dropping 4% in the past 24 hours and leaving investors worried. The global crypto market lost nearly $99 billion in just 24 hours, bringing the total market cap down to $2.89 trillion. But what is causing this sudden Bitcoin drop? Here’s the key reasons behind the recent market drop.
Uncertainty Over U.S. Government’s Bitcoin Plans
One major reason for Bitcoin’s decline is the significant Bitcoin initially surged to $92,000 following President Trump’s announcement of a U.S. Strategic Bitcoin Reserve. However, the market quickly turned bearish after realizing the executive order did not clarify how the government would acquire more Bitcoin.
The uncertainty surrounding whether the U.S. will buy more Bitcoin or just hold onto its seized BTC has left investors skeptical. Some experts, like Peter Schiff, believe the lack of clear accumulation plans could hurt Bitcoin’s long-term growth.
Bitcoin ETFs See Heavy Outflows
Another reason for Bitcoin’s drop is the significant outflow from Bitcoin spot ETFs. According to Farside data, Bitcoin spot ETFs recorded a massive outflow of $134.3 million. This came right after a day of positive inflows, where Bitcoin ETFs saw $22.1 million entering the market.
Leading the outflows was BlackRock’s iShares Bitcoin Trust (IBIT), which saw a $50.6 million outflow, followed by Grayscale Bitcoin Trust (GBTC) with $34.5 million and Franklin Templeton’s fund with $18 million in outflows.
No other major ETF recorded a net inflow, indicating strong selling pressure from institutional investors.
Market Liquidations Increase Selling Pressure
Apart from the spot Bitcoin ETF Outflow, increasing market liquidations is leading to massive selling pressure. In the last 24 hours, traders lost a total of $531 million, with long traders suffering the most. Long positions accounted for $398.3 million of these liquidations, while short traders faced $133 million in losses.
A total of 152,576 traders were affected by these liquidations, with the largest single liquidation occurring on Bitfinex’s BTC/USDT pair, valued at $15.40 million. As long positions get wiped out, the selling pressure increases, pushing Bitcoin’s price even lower.
Bitcoin Struggles to Hold Key Support
Lastly, bitcoin technical analysis suggests that BTC is struggling to hold its key support level as of now it is trading just below its key support level of $89,041. If it fails to reclaim this level, further declines toward $85,000 or even $82,761 could occur.
However, if Bitcoin manages to flip the $90,800 resistance into support, it could attempt a recovery toward $93,625.
The crypto market has severely declined, with Bitcoin (BTC) touching low levels of $87.7K due to Trump tariffs. In this regard, the current situation has taken a worse turn for Dogecoin (DOGE) in the market. It has caused more than $12.60 million of DOGE to be wiped out, including the rising volatility in the entire meme coin market.
However, DuragDoge ($DURAG), a new meme coin, continues to capture the hearts of investors. With its hype growing steadily and investors flocking to its presale platform, DuragDoge has become the best altcoin to buy. Its staking platform has been trending within the crypto community, making it an outstanding trading platform.
The daily active addresses of Dogecoin have declined to 36.1K, and the number of daily transactions has also decreased to 13.9K. It means that there is a withdrawal of market participation, a clear indication that traders are not fully confident. Although this may be the case in the short run, a long period of inactivity is likely to destabilize the price system since low activity levels may negatively affect volatility.
Dogecoin has also seen a small drop in its Open Interest by 0.02% to $ 1.76 billion, which indicates less optimism regarding the short-term market setup. Such conditions suggest a more conservative attitude from traders engaging in new positions, which could be explained by uncertain conditions of the price dynamics.
This decline may hinder any bullish potential from being achieved in the coming days in Dogecoin.
DuragDoge ($DURAG): Gaining Spotlight With Its Staking Platform
The hype of DuragDoge in the crypto market does indicate its mission, which is to take $DURAG from the block and take it to the world where it will not just be seen simply as monetary value. This is a blockchain trading platform whose community is characterized as being fearless, creative, and in the spirit of hustling. The project’s aim is to support the spirit of the underdog, the dreamers, go-getters, and hustlers who understand that big wins are made from bold steps forward.
One contributing factor to its hype in the market as the best altcoin to buy is its staking platform. Once staking is activated, the users of $DURAG will be able to lock their tokens for a particular period and, in return, will be rewarded with more tokens. Staking also leads to up to 20 % annual percentage yield APY, which makes staking the best crypto coin to buy.
Another reason behind DuragDoge’s rise is that no token has been allocated to its team members. This means that this project makes a guarantee to ensure that the share is distributed correctly and that all the players on the battlefield are equal; thus, this makes it the best crypto coin to buy. The token is currently sold at $0.0009, inviting investors who want to diversify their portfolio.
Conclusion
While the Dogecoin price falls flat, DuragDoge hype keeps growing speedily in the market. Because this blockchain trading platform has integrated staking features into its platform, DuragDoge is set to explode in the market. With the presale having remarkable success, DuragDoge has the potential to be the next crypto gem.
Follow Durag Doge on X and Telegram for the latest news and updates.
The post Dogecoin Flats as Tariffs Loom Yet DuragDoge’s Hype Machine Keeps Growing! appeared first on Coinpedia Fintech News
The crypto market has severely declined, with Bitcoin (BTC) touching low levels of $87.7K due to Trump tariffs. In this regard, the current situation has taken a worse turn for Dogecoin (DOGE) in the market. It has caused more than $12.60 million of DOGE to be wiped out, including the rising volatility in the entire …
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to view the market from the eyes of financial experts across TradFi and crypto. Given the more established financial channels, there is growing overlap, with Bitcoin (BTC) inadvertently benefiting from TradFi woes.
Crypto News of the Day: Max Keiser Says Bitcoin and Saylor Are the Future
Warren Buffett made the ultimate case for Bitcoin as the American investor considers stepping down as CEO of Berkshire Hathaway.
Pending board approval, Buffett could step aside at the end of the year, giving way for Greg Abel, vice chair of non-insurance operations, to become Berkshire’s new chief.
This revelation came at Berkshire Hathaway’s annual shareholder meeting on May 3, 2025, where Buffett also offered a stark warning about the long-term value of the US dollar.
He noted that every system eventually debases its currency. According to Warren Buffett, government decisions make paper money lose value over time.
“In the end, if you get people to control the currency, you can issue paper money, and you will,” Buffett told shareholders in Omaha.
Warren Buffett Slams US Fiscal Policy at Berkshire Hathaway Annual Shareholder Meeting
Without naming alternatives such as Bitcoin, the 93-year-old investor cautioned against holding assets denominated in a currency he said was systematically devalued by government policy.
“The natural course of government is to make the currency worth less over time… Some places devalue at breathtaking rates… it’s not evil, it’s just their job,” he added.
The investing icon said that if his late partner, Charlie Munger, had to choose a second area besides stocks, he would have gone into foreign exchange.
These remarks suggested an openness to non-traditional assets. Bitcoin advocate and broadcaster Max Keiser responded to the remarks in an interview with BeInCrypto.
Max Keiser interprets Buffett’s comments as a tacit validation of the thesis behind Bitcoin.
“Executive chairman and co-founder of MicroStrategy Michael Saylor is the Warren Buffett of the 21st century. He saw what Buffett described and built his strategy around it,” Keiser started.
“Warren Buffett built his empire on money printing. Most of his holdings over the years have been in banks, insurance companies, and financial services,” Keiser claimed.
In his view, Buffett benefited from having political leverage in Washington, particularly during the 2008 financial crisis. During this time, Keiser says, his [Buffett] investments in Wall Street institutions aligned with government-led rescue efforts.
Buffett’s Role During The 2008 Financial Crisis Is Well Documented
Michael Saylor, meanwhile, has taken a dramatically different approach. Under his leadership, MicroStrategy (now Strategy) began acquiring Bitcoin in 2020 as part of its corporate treasury strategy. The firm cited concerns about the long-term debasement of fiat currencies.
As of early 2025, the company holds more than 200,000 BTC, worth tens of billions of dollars at current market prices. A recent US Crypto News publication revealed one of Strategy’s latest Bitcoin purchases.
Buffett has long been critical of Bitcoin, famously calling it “rat poison squared” in 2018. However, some in the digital asset space have interpreted his recent comments about currency debasement as aligning with core arguments made by Bitcoin proponents.
Based on his remarks, the American investor and philanthropist is concerned about the US fiscal policy.
His comments allude that while he may not like Bitcoin, he clearly understands why it exists. Sentiment on X (Twitter) shows that community members took notice.
Responses suggest that if Warren Buffett understands money and its flaws manifested in fiat form, why does he not endorse Bitcoin as the solution?
“Warren Buffet talks about the virtues of Bitcoin without mentioning Bitcoin,” one user on X quipped.
Meanwhile, others hope Buffett’s prospective replacement as CEO will see the next Berkshire Hathaway chief to lead the company in a different direction, potentially adopting Bitcoin.
A spokesperson for Berkshire Hathaway did not immediately respond to a request for comment on Keiser’s remarks.
Elsewhere, and in line with Buffett’s statement about foreign exchange, QCP Capital analysts cite a remarkable 8% rally in the Taiwanese Dollar (TWD) on Monday.
They cite this as the TWD’s sharpest move in decades, alongside gains in other APAC currencies with strong current account surpluses. According to the analysts, speculation over a potential US-Taiwan trade deal drove this rally, as did insurer-hedging flows, pushing TWD’s 1Y NDF spread to its widest since 2008.
While Taiwan’s trade surplus supports the TWD, capital outflows have historically balanced it. This shift mirrors past foreign exchange dislocations like the 2023 JPY carry unwind.
For crypto, the move signals possible macro volatility ahead, with gold up 3% and BTC facing a binary path tied to global capital flows and trade diplomacy.
“In a market where correlations are fraying, FX may once again be the canary in the macro coalmine,” wrote QCP analysts.
Chart of the Day
US dollar index (DXY) performance year-to-date. Source: TradingView
The chart shows the US Dollar Index (DXY) trend from 2025, reflecting fluctuations in the value of the US dollar against a basket of major currencies. It indicates a downward movement from February to May, with a recent slight recovery.
Byte-Sized Alpha
Here’s a summary of more crypto news to follow today:
A new discussion draft introduces a framework to reduce market concentration and foster innovation. The bill clarifies jurisdiction between the SEC and CFTC, emphasizing decentralized systems and providing regulatory clarity for digital asset markets.
SINGAPORE, May 1st, 2025 – LBank(lbank.com), the globally leading cryptocurrency exchange, successfully hosted 1001 Crypto Nights, one of the most anticipated side events during TOKEN2049 Dubai. The beachfront festival drew an excess of 5,000 attendees and 100 million online impressions, thus setting a new benchmark in the governance of Web3 cultural experiences.
This is a wonderful night that has much surrealistic energies from decentralized community activity, all creativity in meme culture, and live entertainment. It was indeed a very vibrant marriage of innovation with the community culture hosted by LBank in association with MemeCore and Shiba Inu, and co-organized by Google Cloud and GAIA. With this co-organizing planned for the people who joined in this initiative event, they were made not to feel separated or isolated. With this celebration, LBank reaffirmed its commitment to the charity of bridging culture with crypto.
Details Here
A stellar lineup of partners propelled the festival, ranging from tech giants AWS, OneCloud, and Akamai to the major blockchain ecosystems Avalanche, Polygon, Kaspa, and Polkadot. The festival was further spiced up by the collaborations of famous meme communities: WIF, BABY DOGE, BRETT, DOG, TURBO, NEIRO, ELON, SUNDOG, and PONKE. All these co-organization brought their own unique energy and cultural creativity.
Some guests wandered into interactive booths and immersive-brand activations surrounding the gleefully transformed Aladdin carnival-themed venue. Anything from fortune-tellers and live sketch artists to glowing body paint stations and the cosplay fantasy photo zones offered magic everywhere you turned. A standout from the evening was the new gamification mechanic known as “Chips System,” where guests were rewarded for completing both online and onsite missions. The night was brought to a beautiful finish by an aerial display of light with 300 flying drones drifting above Dubai’s Palm Jumeirah, painting the skyline with luminous formations, and ensuring that the memories of this program are cherished forever.
“Web3 thrives on openness, imagination, and shared momentum,” said Eric He, LBank’s Community Angel Officer and Risk Control Adviser. “Memecoins and community tokens are more than hype—they’re culture crystallizing on-chain, turning stories and humor into shared value. That’s why LBank is positioning itself as the go-to platform for meme innovation: from fast listings to deep liquidity and global community support, we’re actively building the cultural infrastructure of Web3.”
The spectacular milestone completed yet another chapter in LBank’s fabulous history of curating immersive Web3 experiences all over the world. In April 2024, LBank Labs partnered with Web3 Summit and BlockNews to bring to Dubai the Web3 Summit where the global experts examined the latest intersections of Web3, AI, and FinTech. In September 2024, LBank co-hosted an after-party for the TOKEN2049 event-“Meet Your Meme,” an energetic night where prominent meme coin holders, creators, and builders exchanged cultural ideas. In February 2025, LBank Labs brought to a successful conclusion its side event-“AI in the Skyline”-at Consensus Hong Kong, with an attendance of more than 800 participants. The tremendous success of 1001 Crypto Nights testifies to LBank’s continuous effort in extending and engaging a global Web3 community through high-profile offline events.
As the curtains fall on 1001 Crypto Nights, LBank reinforces its mission to lead not just in exchange services, but in building meaningful cultural connections across Web3. With a growing global footprint, deep market expertise, and a culture-first strategy, LBank remains committed to empowering the next generation of users and reshaping the future of crypto.
About LBank
Founded in 2015, LBank is a leading global cryptocurrency exchange, serving over 15 million registered users in more than 210 countries and regions. With daily turnover exceeding $3 billion, LBank has committed to providing the finest trading experience across the board with user-friendly trading access for more than 800 cryptocurrencies. LBank has also produced average returns of over 130% from newly listed assets through its innovative trading solutions.
An early bird into the Meme Coin market, LBank has listed more than 240 mainstream Meme coins and 40 Meme gems, many of which have gained over 500% profits. As the industry leader in first-time Meme coin listings, LBank has become the go-to platform for Meme coin investors.
The post LBank Successfully Hosts 1001 Crypto Nights During TOKEN2049 Dubai, Strengthening Its Global Crypto Cultural Footprint appeared first on Coinpedia Fintech News
SINGAPORE, May 1st, 2025 – LBank(lbank.com), the globally leading cryptocurrency exchange, successfully hosted 1001 Crypto Nights, one of the most anticipated side events during TOKEN2049 Dubai. The beachfront festival drew an excess of 5,000 attendees and 100 million online impressions, thus setting a new benchmark in the governance of Web3 cultural experiences. This is a …
