By Frank Martin (MoneyAmped.com)
Bitcoin surpassed the $93,000 vital resistance level on Friday, causing many to believe that the downtrend, which has lasted for nearly three months, was over. Besides this positive development, other topics that have made headlines since April 21st include:
Michael Saylor Expects New SEC Chair “to be Good for BTC”
Strategy CEO Michael Saylor has expressed optimism that Paul Atkins, the new Chair of the SEC (Securities and Exchange Commission), will help Bitcoin achieve its full potential. The leader of the top institutional BTC holder tweeted on April 23rd that he was confident Atkins would take a friendly approach to crypto rather than going after industry players like former SEC Chair Gary Gensler.
Similarly, T. Rowe Price’s head of crypto, Blue Macellari, told a Bloomberg journalist on Friday that the leadership change at the SEC was going to usher in a new era for digital assets and expected clear regulatory guidance from the agency.
TRUMP Holders Don’t Need $300k to Dine with President
The team behind the US President’s official meme coin has refuted rumors that TRUMP holders must own at least $300,000 worth of tokens to attend dinner with Donald Trump. The clarification came on April 25th as the crypto community wondered what criteria would be used to pick the lucky winners.
Following news regarding dinner with the president, TRUMP has surged 82%, now trading at $15 per data from CoinGecko.
Serbian Prince Claims Market Participants Are Suppressing Bitcoin Price
According to Serbian Prince Filip Karađorđević, top market participants could be limiting BTC price action, preventing the leading coin from rallying to new highs. He argues that bears with massive financial muscles control the Bitcoin market to a certain extent, thus giving them the power to protect key resistance levels. However, he expects these levels to break in the coming weeks as macroeconomic conditions turn positive.
SBF Transferred to Low-Security Prison
On Thursday, prison consultant company Elizabeth Franklin-Best reported that the US prison agencies transferred Sam Bankman-Fried (SBF), the founder of now-bankrupt crypto exchange FTX, to a low-security correctional facility called Terminal Island after spending a few weeks at the Victorville prison, which is regarded as a violent correctional institution. It is still unclear why SBF was moved to another location.
Top Mining Firm Uses Its Bitcoin Stockpile to Secure a $100 Million Loan from Coinbase
Leading US-based miner Riot Platforms obtained a $100 million loan from crypto exchange Coinbase, backing it with its Bitcoin holdings. While announcing the loan, the company’s CEO, Jason Les, stated that the money would be used for expansion and financing corporate operations. The loan is expected to be paid within 12 months and carries a yearly interest rate of 9%.
Analysts Pessimist Over Bitcoin Rally Above $100k Despite Recent Surge
Although Bitcoin has remained above key resistance levels over the past seven days, some analysts do not expect it to continue rallying and foresee a reversal from $100,000. Analysts at Material Indicators say decreased trading volume, uncertainty over the Fed’s decision on rate cuts, and Trump’s trade policies could limit the Bitcoin rally.
North Korean Cybercriminals Set Up Shell Firms to Scam People
Notorious North Korean hacker group Lazarus has formed three shell companies to deliver malware through fake recruiting websites. These websites are operated by three firms, including SoftGlide, BlockNovas, and Angeloper Agency, which are registered as legal businesses in America.
Senior threat analyst at Silent Push, Zach Edwards, explained that the shell firms advertise fake jobs on the websites to trick unsuspecting victims into submitting their confidential data and using it to steal their digital assets.
Winners and Losers
Many of the top 100 cryptocurrencies have rallied in the past seven days. According to CoinGecko data, only Bitget Token (3.1%), Pi Network(2.7%), Tokenize Exchange (3.9%), and LEO Token (4.8%) have posted losses. Regarding top gainers, TRUMP leads the way, followed by BRETT, which is up 81%. Other notable gainers include Sui (64%) and BONK (63%).
