What You Need to Know

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Investors are increasingly putting their money into altcoins, resulting in rising prices for cryptocurrencies like ETH, RAY, ENA, and MKR, while Bitcoin (BTC) remains stable just above $100,000.

“Options implied volatility is extremely low, the market doesn’t seem to believe in strong moves, and short-term options pricing remains inexpensive. This kind of complacency often precedes a significant market shift.”
Translation: This indicates that while the market is calm, it could signify impending volatility.

According to Verbitskii, BTC could rapidly surpass $115,000, asserting that a breakout might occur as early as May if the liquidity theory proves correct. Bitcoin previously reached a peak of about $109,000 in January.

However, challenges persist. For example, the U.S. Senate still has a chance to advance the bipartisan GENIUS Act, which mandates stablecoin issuers to back their currencies with secure reserves.

Moreover, the SEC recently postponed its decision regarding BlackRock’s bitcoin ETF concerning in-kind redemptions as it seeks public feedback.

Additional Updates

In a significant investment, DeFi Development Corp. purchased roughly $23.6 million worth of SOL tokens, increasing its holdings beyond $100 million. Unlike other companies focusing on Bitcoin, this move indicates a broader investment strategy in the Solana ecosystem.

Stay alert to these developments as they shape the cryptocurrency landscape.