Crypto Market Declines as Bitcoin Falls Below $30,000 Alongside Equities and Blockchain Stocks

Bitcoin and other cryptocurrencies experienced a decline in early U.S. trading, with the leading cryptocurrency falling 3.8% to trade at $29,282 according to Binance data via TradingView. Ether also slipped below $2,000, with altcoins such as Binance's BNB, Ripple's XRP, and Cardano's ADA also experiencing losses over the past day.

The decline in crypto prices has been attributed to their close ties to equity markets, which are currently focused on first-quarter earnings. Equities linked to crypto and blockchain, such as Coinbase and MicroStrategy, also experienced declines in their share prices, with Coinbase down 4% and MicroStrategy falling 3.2%.

Bitcoin $67,149.30

+0.39%

Bitcoin MicroStrategy Coinbase Ripple Binance

Original Link

Comments

All Comments

Recommended for you

An address mistakenly transferred about $7,000 in BTC to Satoshi Nakamoto’s wallet

According to Arkham monitoring, someone accidentally sent 90% of their BTC assets to Satoshi Nakamoto's wallet address last night. They were trying to swap Ordinal for PupsToken, but ended up sending almost their entire wallet balance - about $7,000 worth of BTC.
Cointime May 12 News Express

1.The number of Bittensor subnets for the AI project will increase to 64, and 1024 subnets will be achieved this year2.Trader predicts Bitcoin price will reach $350,0003.vladilena.eth redeemed 1930 weETH from Zircult, suspected of selling4.Solana’s on-chain DEX transaction volume yesterday exceeded the sum of five chains including Ethereum, BSC, and Arbitrum5.RSS3 VSL locked-in amount surged in the past two days and is close to 200 million US dollars 6.The transaction volume of Club Key on friend.tech platform exceeded 1 million7.Lido has paid out more than 516,000 ETH in staking rewards, equivalent to approximately $1.51 billion8.1,000 BTC transferred from TronDAO to an unknown new wallet9.Report: Justin Sun deposited 120,000 eETH into Swell L2, worth $376 million10.1707.36 BTC have flowed out of Binance in the past 7 days
cointelegraph ·

Bitcoin opens $63K futures gap as thin liquidity threatens BTC price

Bitcoin market participants are doubting the staying power of the ongoing BTC price relief bounce.
Cointime May 3rd News Express

1. The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days
Bitcoin Asia ·

Bitcoin Conference to Bring Star-Studded Lineup of Speakers to Hong Kong on Dawn of Historic ETFs.

Excitement is brewing in the heart of Asia as Hong Kong regulators pave the way for a new era of innovation with the recent approval of spot Bitcoin exchange-traded funds (ETFs). This groundbreaking development underscores Hong Kong's commitment to becoming a regulated hub for Bitcoin. At the same time, the Bitcoin Conference is bringing the best and brightest Bitcoiners from around the world to Hong Kong for Bitcoin Asia.
Cointime精选 ·

The Untold Story of ditto-b

The story of an anonymous developer who fixed a critical flaw in Bitcoin's code.
cointelegraph ·

Binance tax evasion trial moved to May 17 in Nigeria

Gambaryan’s lawyer, Chukwuka Ikuazom, objected, citing Nigerian law, stating he couldn’t plead until Binance, the primary defendant, was served.
Cointime精选 ·

Bitcoin Valuation by Savings Adoption

A mid-term approach to price modelling Bitcoin is something entirely new, something never before observed. Because of this, many of the trusted tools in our financial toolkits might simply not do a very good job of modelling its performance, and it’s causing apprehension among analysts who are used to deploying certain modelling tools to make sense of asset pricing.
Cointime April 23th News Express

1. EigenLayer: Deposit limits for all LST tokens will be removed on April 16
Arthur Hayes ·

Heatwave

The Bitcoin block reward is forecast to halve on April 20th. This is seen as a bullish catalyst for crypto markets. I agree that it will pump prices in the medium term; however, the price action directly before and after could be negative. The narrative of the halving being positive for crypto prices is well entrenched. When most market participants agree on a certain outcome, the opposite usually occurs. That is why I believe Bitcoin and crypto prices in general will slump around the halving.