Plunging oil price presents an unexpected risk to the crypto market in April
BTC $6358 (-1.8%) • ETH $133 (+0.1%) • XRP $0.17 (+0.8%)
The oil price is plummeting rapidly, dropping to as low as $5 in Canada. The dumping of additional supply by Saudi Arabia and Russia is expected to rattle the oil market further in April, which may cause high-risk assets including stocks and crypto to drop off.
Over the next several weeks, JPMorgan expects oil-rich sovereign wealth funds to vamp up their cash-buffer as the dispute between Saudi Arabia and Russia intensifies.
A large sell-off of stocks at a time during which the U.S. stock market has just started to recover from recent lows could fuel the next leg down of equities.
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What’s really going on with Tether’s exploding supply? Crypto exec tells all
Despite the strong downturn seen in the crypto markets, epitomized by Bitcoin’s 50 percent decline that transpired on Mar. 12, the amount of Tether’s USDT stablecoin in existence has exploded.
Charles Hoskinson: It will be easier to issue and maintain digital assets on Cardano (ADA) than Ethereum
Charles Hoskinson, the CEO of IOHK, said that the huge amount of time, effort, and money spent has resulted in a unique product on the market that’s set to fulfill even the highest expectations.
The US Dollar’s climb invalidates “money printer meme” and damages Bitcoin narrative
So-called “Crypto Twitter” has been enthralled by a widely circulated “money printer go brrr” meme that takes aim at the government’s incessant money printing, with many crypto enthusiasts pointing to the Fed’s current monetary policies as the reason why Bitcoin is so important.
BitMEX open interest is showing signs of rebounding; here’s what this could mean for Bitcoin
Bitcoin’s price action seen throughout the past several days has been rather lackluster, with the benchmark cryptocurrency seeing some choppy trading that has led it to establish a wide range between $5,800 and $6,800.
What else?
🤔 What’s holding Bitcoin back – business or consumers?
🤑 Wall Street giant chief fears end of “debt super cycle”: Is crypto the solution?
🌊 This on-chain indicator may spell trouble for the 88% of Ethereum investors who are underwater
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