Bitcoin acting "less Nasdaq" and more like gold, despite 60% recession odds
Bitcoin is decoupling from the US stock market and starting to trade more like precious metals, in another signal of Bitcoin’s growing role as a safe-haven asset against global economic disruption.Bitcoin’s (BTC) price is showcasing its growing maturity as a global asset, becoming “less Nasdaq — more gold” over the past two weeks, according to Alex Svanevik, co-founder and CEO of the Nansen crypto intelligence platform.Bitcoin staged a 12% recovery in the two weeks leading up to April 22, despite ongoing tariff escalation between the world’s largest trading nations. The US increased reciprocal tariffs on China to 125% as of April 9, while China raised import tariffs from 84% to 125% effective April 12.Source: Alex SvanevikBitcoin was “surprisingly resilient” amid the trade war compared to altcoins and indexes like the S&P 500, but remains vulnerable to economic recession concerns, Svanevik told Cointelegraph, adding:“We expect gold to be more resilient, although gold holdings could be net sold in case investors panic and want to cover margin call. This was seen one to two days at the worst of the trade war earlier this month.”Still, Bitcoin will continue benefiting from regulatory development and the US Bitcoin Reserve-related news, particularly with more developments on how the “Treasury is looking for ways to swap reserves into BTC,” added Svanevik.Related: Bitcoin rally above $100K may follow US Treasury buybacks — Arthur HayesWhile the US Bitcoin reserve will initially hold BTC forfeited in government criminal cases, President Donald Trump’s executive order instructed the government to develop “budget-neutral strategies” to buy more Bitcoin.🇺🇸 LATEST: Executive Director of Digital Assets Bo Hines said the US government may buy Bitcoin using tariff revenue. pic.twitter.com/Gfc2HiEJoL— Cointelegraph (@Cointelegraph) April 15, 2025The US is looking at “many creative ways” to fund its Bitcoin investments, including from tariff revenue and by reevaluating the Treasury’s gold certificates, creating a paper surplus to fund the BTC reserve without selling gold, Bo Hines of the Presidential Council of Advisers for Digital Assets said in an interview on April 14.Related: Bitcoin up 33% since 2024 halving as institutions disrupt cycleUS recession odds rise to 60%, says JPMorganDespite Bitcoin’s resilience against tariff concerns, a potential US recession may slash investor demand for risk assets.The probability of a US recession in 2025 has risen from 40% to 60%, according to an April 15 research report from JPMorgan, which wrote: “The latest unwinding of the Liberation Day tariffs reduces the shock to the global trading order, but the remaining universal 10% tariff is still a material threat to growth and the 145% tariff on China keeps the probability of a recession at 60%.”Global Recession Outlook. Source: JPMorgan Global EconomicsJPMorgan expects the Fed to “start easing in September, with further cuts at every meeting thereafter through January 2026 — reaching a 3% policy rate by June 2026,” added the report. Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19
Crypto vs. traditional stocks and bonds: What’s the difference?
Crypto, stocks and bonds: Are they the same? When you dive into investing, you’ll find three frequently utilized investment options: Crypto is the risky thrill-seeker’s choice, stocks offer a middle ground with growth potential, and bonds are for those who prefer a steadier, more predictable path. While both stocks and crypto offer growth potential, regulation makes stock market investments more structured and predictable, and crypto aims for decentralization and remains less regulated.CryptoCryptocurrency is a digital currency built on blockchain technology, a decentralized, transparent and secure system that records all transactions. No entity, such as a bank, directly controls it. Crypto is known for massive swings — big gains (and losses) can happen fast, making it exciting for those who want to play the high-risk game. Although cryptocurrency has been available for a while, its adoption has surged in recent years, gaining traction among retail investors, institutions and even some governments. Cryptocurrency is not universally regulated and can be accessed through various channels, including crypto exchanges, brokers, ATMs and fintech apps.StocksStocks represent ownership in a company — when you buy a stock, you’re purchasing a share of that business. If the company performs well and earns profits, shareholders may benefit through dividends and capital gains. On the flip side, poor performance or negative market sentiment can lead to losses.Stocks are typically regulated by government agencies, such as the US Securities and Exchange Commission, making them generally less risky than cryptocurrencies. However, they are still influenced by factors such as company performance, market conditions, economic trends and global events — making them potentially volatile.You can purchase stocks through traditional stock exchanges (like the NYSE or Nasdaq) or online brokerage platforms.BondsBonds are essentially loans that investors give to governments or companies. In exchange, the issuer pays regular interest over a set period and returns the full loan amount — known as the principal — when the bond reaches its maturity date, which can range from a few months to 30 years.Bonds are often considered less volatile than stocks, making them a popular choice for conservative investors. However, they are not without risks. Rising interest rates can lower a bond’s market value, inflation can erode purchasing power, and corporate bonds carry the risk of default if the issuer experiences financial trouble.The trade-off for this relative stability is usually lower returns, which may not appeal to those seeking high-growth investments. Bonds are regulated financial instruments and can typically be purchased through brokers or directly from government agencies. Is crypto more profitable compared to stocks and bonds? While crypto can offer diversification benefits, its relationship with traditional assets is complex and evolving.For instance, in 2024, Bitcoin (BTC), the most popular cryptocurrency, demonstrated remarkable profitability, achieving a 121% return and outperforming traditional assets like the Nasdaq 100, which gained 25.6%, and the S&P 500, which rose by 25%. Gold also saw a significant increase of 26.7%, while US large-cap stocks experienced a 24.9% gain.Bonds, on the other hand, offered a more modest return: The 10-year US Treasury bond, known for its fixed interest payments, ended the year with a yield of approximately 4.57%.Historically, Bitcoin has exhibited a low correlation with the S&P 500, averaging 0.17 over the past decade. However, this correlation has fluctuated, reaching as high as 0.75 before declining toward zero in early 2025, indicating periods of both alignment and independence from traditional markets. Tariff fallout: Which is more profitable now — Crypto, stocks or bonds? The tariffs introduced by US President Donald Trump on April 2, 2025, have had an unprecedented impact on both traditional and crypto markets. But the effects have followed the above pattern consistently — stocks experienced a sharp price reduction.According to the Guardian, the Nasdaq Composite entered a bear market by the close of trading on April 3, falling more than 20% below its most recent peak on Dec. 16, 2024. In the meantime, European indexes such as the FTSE 100 fell over 11%, and the S&P 500 dropped at least 12% since the introduction of tariffs.Crypto had an even stronger downturn, which was once seen as a hedge against market volatility but has not been immune. Bitcoin’s price dropped by over 6% and Ether’s (ETH) by more than 12% within 24 hours of the tariff announcement, as global markets reacted with fear. The unpredictability of tariff policies contributes to market jitters, affecting all asset classes, from stocks to bonds and crypto, in unique ways.Bonds have experienced only a small return rate increase, given that a higher return means a lower price for a bond. According to CNBC, in response to President Trump’s tariff announcements, global bond yields sharply dropped as investors sought safe havens amid stock market turmoil. For example, Germany’s 10-year bond yield fell from 2.72% to below 2.6%, and US Treasury yields also hit their lowest levels in months, signaling heightened demand for government debt, though economists warn this rally may not be sustainable if inflation concerns persist. Trading and investing in crypto, stocks and bonds: What sets them apart? All asset classes — crypto vs. traditional investments — involve identifying patterns, but the timeframes, dynamics and tactics differ significantly.Crypto and stock trading share similar patterns, like sensitivity to macroeconomic trends andtechnical patterns, but their market structures contrast sharply. Stock markets operate within set hours, such as the NYSE’s hours of 9:30 am–4:30 pm ET, while crypto markets run 24/7. Bonds are typically traded during regular market hours, similar to stocks, but the exact trading hours can depend on the type of bond, such as Treasurys or corporate issues.Crypto trading involves pairs using common tokens like Bitcoin or Ether as base currencies, while stocks are typically bought with fiat, and bonds are traded in fixed denominations, often with a minimum investment threshold. Liquidity issues can affect all three: Crypto can face challenges with small-cap tokens, stocks with micro-cap companies and bonds with less-traded long-term or corporate issues.Timeframes for market patterns highlight further distinctions. Crypto market patterns thrive on short-term volatility, demanding rapid decisions and frequent trades, while stock patterns often track longer-term trends tied to company performance and broader economic cycles. Bonds move the slowest, with price shifts driven primarily by interest rates, and offer stable, predictable patterns.Price drivers also set them apart. Crypto values hinge on market trends, adoption and utility; stocks rely on company fundamentals, research and earnings; and bonds depend on interest rate movements and issuer creditworthiness, prioritizing stability over growth. Entry barrier to crypto, stocks and bonds Stock issuance is governed by company laws, blockchain protocols with hard caps control crypto supply, and bonds are issued based on creditworthiness.To invest in stocks and bonds, you generally need to be at least 18 years old and have a brokerage account to invest in the stock and bond markets. Some stocks may require a higher income or level of experience, while most stocks only allow accredited or wealthy investors to participate.Buying stocks and bonds means going through regulated brokers and exchanges. Crypto, on the other hand, lets you jump in with just a wallet — no intermediary, no paperwork. Centralized crypto exchanges require Know Your Customer (KYC) verification, but decentralized platforms let you trade freely with only your private keys.Did you know? Stocks represent company equity with dividends; crypto represents digital assets with varying uses; and bonds are loans offering fixed-interest payments. Regulatory differences between crypto, stocks and bonds While stocks and bonds follow strict rules, crypto is still figuring things out, making buying, selling, holding and taxes a whole different experience.In most countries, investing in stocks and bonds is legal and regulated. Still, some governments, like North Korea and Cuba, impose strict restrictions or outright bans on private investment in these assets. Crypto faces a patchwork of regulations worldwide, ranging from full bans in countries like China and Egypt to partial restrictions in places like India, where regulations limit banking support but don’t outlaw trading. Meanwhile, crypto-friendly nations like El Salvador embrace digital assets with clear legal frameworks and government support.Holding stocks and bonds is straightforward. The shares sit safely with a brokerage, and bonds pay you interest at fixed intervals. Holding crypto, however, comes with risks. You can self-custody in a wallet, but if you lose your private keys, your funds are gone forever. If you keep crypto on an exchange, there’s always a risk of hacks or platform failures.Taxes add another layer of complexity. Stocks and bonds typically fall under capital gains and dividend tax rules, with clear guidelines based on how long you’ve held them. Crypto tax laws vary widely by country. Some countries treat it like property, others like a commodity, and a few don’t tax it at all. Keeping track of every transaction is crucial, as even swapping one crypto for another can be taxable. Crypto vs. stocks vs. bonds: Which one should you buy in 2025? Choosing between crypto, stocks and bonds in 2025 depends on your personality, risk appetite and financial goals.If you love the adrenaline and believe in the future of decentralized finance (DeFi), then a crypto-focused portfolio might be for you. For example, a high-risk, high-reward portfolio could be 70% crypto, 20% stocks and 10% bonds.If you prefer a more structured approach but still want growth, stocks balance risk and return. A portfolio, for instance, with 60% stocks, 30% crypto and 10% bonds could give exposure to innovation while keeping things grounded.For those who sleep better knowing their money is safe, bonds provide stability. For example, a conservative mix could contain 70% bonds, 20% stocks and just 10% crypto, ensuring steady returns with a taste of market excitement.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bybit CEO: Two-thirds of Lazarus-hacked funds remain traceable
Crypto exchange Bybit co-founder and CEO Ben Zhou says more than two-thirds of the digital assets stolen from the platform in February by North Korea’s Lazarus Group still remain traceable. In an executive summary on hacked Bybit funds posted on X on April 21, Ben Zhou said that of the total $1.4 billion hacked, 68.6% “remains traceable,” 27.6% has “gone dark,” and 3.8% has been frozen.The untraceable funds primarily flowed into mixers, then through bridges to peer-to-peer and over-the-counter platforms, he added. In February, hackers associated with the Lazarus Group exploited vulnerabilities in Bybit’s cold wallet infrastructure, stealing $1.4 billion in the largest crypto exchange hack to date.“Recently, we have observed that the mixer mainly used by the DPRK [Democratic People’s Republic of Korea] is Wasabi,” Zhou said before stating that following the Wasabi washing of BTC, “a small portion of it entered CryptoMixer, Tornado Cash, and Railgun.”Zhou confirmed that 944 Bitcoin (BTC) worth around $90 million went through the Wasabi mixer. Multiple crosschain and swap services were carried out through platforms such as THORChain, eXch, Lombard, LI.FI, Stargate, and SunSwap before the loot eventually entered P2P and OTC services, he added. Another 432,748 Ether (ETH), around 84% of the total worth roughly $1.21 billion, has been transferred from Ethereum to Bitcoin via THORChain. Around two-thirds of that — around $960 million worth of Ether — has been converted into 10,003 BTC across 35,772 wallets, he added. Around $17 million worth of Ether remains on the Ethereum blockchain across 12,490 wallets, Zhou reported. Around $1.2 billion worth of stolen crypto is still being tracked. Source: Lazarus BountyBybit pays around $2.3 million in bountiesZhou also revealed that only 70 of 5,443 bounty reports received over the past 60 days were valid. Bybit launched the Lazarus Bounty program in February, offering a total of $140 million in rewards for information leading to funds being frozen.To date, it has paid out $2.3 million to 12 bounty hunters. Most of this went to one entity, the Mantle layer-2 platform, whose efforts resulted in $42 million worth of frozen funds. Related: Lazarus Group’s 2024 pause was repositioning for $1.4B Bybit hack“We welcome more reports, we need more bounty hunters that can decode mixers, as we need a lot of help there down the road,” Zhou said. On April 17, the eXch crypto exchange announced it would cease operations on May 1 after reports alleged the firm was used to launder funds from the Bybit hack.Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest
Bitcoin prepares for launch from $85K, BNB, HYPE, TAO and RNDR could follow
Bitcoin (BTC) has risen roughly 1% for the week, indicating a balance between supply and demand. Analysts expect a quiet easter weekend but are divided about the next directional move in Bitcoin.Network economist Timothy Peterson said that the US High Yield Index Effective Yield has gained over 8%. There have been 38 such instances since 2010, and Bitcoin has risen 71% of the time three months later. Bitcoin recorded a median gain of 31% and the worst loss of -16%. Based on historical data, Peterson anticipates Bitcoin to trade between $75,000 and $138,000 within 90 days.Crypto market data daily view. Source: Coin360Not everyone shares a bullish view. Bloomberg’s Senior Commodity Strategist Mike McGlone said in a post on X that Bitcoin and the S&P 500 Index may drop toward their respective 200-week simple moving average, which historically acts as a floor during major corrections. Bitcoin’s 200-week SMA is close to $46,000.What are the critical support and resistance levels in Bitcoin? What cryptocurrencies may rally if Bitcoin breaks above its overhead resistance?Bitcoin price analysisBitcoin has stayed above the 20-day exponential moving average ($83,704) for the past several days, but the bulls have failed to challenge the 200-day simple moving average ($88,098).BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe failure to start a rally could put pressure on the BTC/USDT pair in the near term. If the price turns down and breaks below the 20-day EMA, it suggests that the bulls have given up. That opens the gates for a drop to $78,500 and subsequently to the vital support at $73,777.If buyers want to prevent the downside, they will have to swiftly push the price above the 200-day SMA. That indicates the corrective phase may be over. The pair may surge to $95,000 and eventually to the psychological level of $100,000.BTC/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair has been trading inside a tight range between $83,000 and $86,000. Failing to break above the overhead resistance may have tempted the short-term bulls to book profits, pulling the price below the moving averages. Trading inside the range is likely to remain random and volatile.A break and close below the range could start a downward move to $80,000 and then to $78,500. On the other hand, a break and close above $86,000 could propel the pair to $89,000.BNB price analysisBNB (BNB) is facing resistance at the downtrend line, but a positive sign is that the bulls have not ceded ground to the bears.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe moving averages have flattened out, and the RSI is near the midpoint, indicating a balance between supply and demand. If buyers drive the price above the downtrend line, the BNB/USDT pair could rally to $644.Contrary to this assumption, if the price turns down sharply from the downtrend line, it signals that the bears are active at higher levels. A break below $576 could keep the pair inside the triangle for some more time.BNB/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair has reached the downtrend line, where the bears are expected to pose a strong challenge. The crucial support on the downside is the 50-SMA and then $576. If the price rebounds off the support, it indicates buying on dips. That increases the likelihood of a break above the downtrend line. The pair may then climb to $620.On the contrary, a break and close below $576 signals that the buyers have given up. That could pull the price down to $566, extending the stay inside the triangle for a while longer.Hyperliquid price analysisHyperliquid (HYPE) rose and closed above the $17.35 overhead resistance on April 19, but the bulls are facing selling at higher levels.HYPE/USDT daily chart. Source: Cointelegraph/TradingViewIf the price turns up from $17.35, it suggests that every minor dip is being bought. That clears the path for a rally to $21 and thereafter to $25.Alternatively, a break and close below $17.35 signals that the bears are trying to trap the aggressive bulls. The next support on the downside is the 20-day EMA ($15.32). If the price rebounds off the 20-day EMA, the bulls will again try to overcome the obstacle at $17.35.The optimistic view will be negated in the near term if the HYPE/USDT pair turns down and breaks below the moving averages.HYPE/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair has dropped to the breakout level of $17.35. If the price rebounds off $17.35 and rises above $18.54, it signals that the bulls have flipped the level into support. That enhances the prospects of a rally to $21.Conversely, if the price skids below $17.35, it suggests that the bears are trying to regain control. The 50-SMA is the critical support to watch for on the downside because a break below it indicates that the bulls are losing their grip. The pair may then descend to $14.65.Related: Bitcoin gets $90K short-term target amid warning support ‘isn’t safe’Bittensor price analysisBittensor (TAO) broke above the moving averages and has reached the downtrend line, where the bears are expected to mount a strong defense.TAO/USDT daily chart. Source: Cointelegraph/TradingViewIf the price turns down from the downtrend line, the TAO/USDT pair is likely to find support at the 20-day EMA ($249). A solid bounce off the 20-day EMA improves the prospects of a rally above the downtrend line. The pair could then surge to $360.Contrarily, if the price turns down and breaks below the 20-day EMA, it suggests that the bears remain in control. The pair may then slump to the $222 support, where the buyers are expected to step in.TAO/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe RSI has risen into the overbought zone, suggesting a short-term pullback is possible. If the price rebounds off the 20-EMA, it signals a positive sentiment. That increases the possibility of a break above the downtrend line. There is minor resistance at $313, but it is likely to be crossed.Contrarily, a break and close below the 20-EMA indicates that the short-term buyers are booking profits. That may pull the pair to the 50-SMA.Render price analysisRender (RNDR) has broken out of the overhead resistance at $4.22, signaling that the bulls are attempting a comeback.RNDR/USDT daily chart. Source: Cointelegraph/TradingViewA close above the $4.22 level will complete a bullish double-bottom pattern. There is resistance at $4.83, but it is likely to be crossed. The RNDR/USDT pair could then travel toward the pattern target of $5.94.The 20-day EMA ($3.72) is the crucial support to watch out for on the downside. A break and close below the moving averages indicates that the markets have rejected the breakout above $4.22. That could open the doors for a drop to the support at $2.50.RNDR/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair has cleared the overhead hurdle at $4.22, indicating an advantage to buyers. However, the bears are unlikely to give up easily and will try to pull the price back below the breakout level. If the price rebounds off $4.22 with strength and rises above $4.48, it signals that the bulls have flipped the level into support. The pair may then start an up move toward $5.Instead, if the price turns down and breaks below the moving averages, it suggests that the breakout may have been a bull trap. The pair may then drop toward the critical support at $3.60.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Farmers are switching to stablecoins
Opinion by: Henry Duckworth, founder and CEO of AgriDexWe all need and buy it. Food is a common, universal ground across the planet. It should come as no surprise then that the agricultural industry is enormous. In 2023, the European Union alone imported 154 million tonnes of agricultural products and exported 134 million tonnes more. The market is growing too, projected to expand by 3.45% annually from this year to reach $5.52 trillion by 2029. Yet, farmers and agricultural traders are confronted with a serious problem. They need to export food abroad and interact with foreign currencies. The financial system — particularly in Africa — is, however, underdeveloped. Inefficiencies in their trade result in high transaction costs, delayed cross-border payments, and high interest rates for loans. Large corporations can better navigate financial hurdles, but this isn’t always the case for small farmers, who suffer the most from outdated banking systems.Blockchain technology and stablecoins promise to smooth unstable waters for agricultural traders. Eliminating intermediaries and providing financial inclusion, the technology gives farmers direct access to global markets. With Africa’s food and agriculture market predicted to be valued at $1 trillion by 2030, stablecoins stand to be much more than simply another financial trend for the industry.Cross-border payments are hiding significant costsCross-border payments are the beating heart of agricultural trade, central to accessing resources, such as equipment and seeds, or engaging in trade between countries. International transactions are vital to African agriculture, as exports within Africa represent only 17% of total African exports. Local banking systems are, however, underdeveloped and impede these payments to a shocking degree. A huge sticking point is that traditional banking systems are expensive — they charge farmers between 3% and 6% in fees. This is no small matter when profit margins are already thin.In transactions, the demand for an intermediary currency, typically the US dollar, leads to even more exchange rate losses, often falling within the 3%-10% range. This affects small businesses in Africa, which can pay nearly 200% more than larger companies to clear their transactions through formal channels.As if the expense wasn’t bad enough, the process is also painfully slow. Farmers can expect to wait up to 120 days for payment settlements. These delays are devastating for businesses relying on quick access to funds. They are forced to take out high-interest loans with no immediate liquidity, further eroding their earnings.Stablecoins can fix agricultural tradeFrustratingly outdated financial systems hamper the global agricultural industry, but a glimmer of hope is arriving in the form of stablecoins. Poised to reshape the agricultural trade, crypto offers farmers three key pillars of transformation.Stablecoins mean farmers and traders can bypass banking inefficiencies. With intermediaries taken out of the picture, they can transact instantly and with lower costs. Farmers save between 3%-6% per payment, and funds are received in minutes rather than in painful waits of weeks or months. The result? These players have the working capital needed to stay in business.Traders can forget about unstable local currencies. By pricing their goods in a stable digital asset, they can gain access to global markets. Fluctuating exchange rates will become a problem of the past. Businesses operating in countries with volatile currencies will feel that relief most acutely, as sudden devaluations in a currency have the power to wipe out profits overnight.Recent: Web2 is failing vertical farms — they need DePIN to surviveThe agricultural trade is crippled by immense, systemic fraud and supply chain inefficiencies, with global food fraud costing $40 billion annually and global trade in fake goods another staggering $500 billion. Stablecoins could be transformative in reducing the original movement of counterfeit goods across supply chains, making the industry far more efficient.Results are already being seen in African agribusiness. Zimbabwe-based conglomerate Parrogate, for example, is committing to blockchain to streamline payments to its suppliers while improving cross-border trade efficiency. The company, which prides itself on growth and development across the continent, is just one of numerous African businesses getting behind stablecoins and reaping the benefits.Agriculture still faces global challengesStablecoins should be music to the ears of those working in agriculture. The road there could, however, be rocky. Significant regulatory uncertainty, especially in Africa, is one hurdle. Many nations have strict capital outflow controls, so farmers and traders must comply with local regulations or face legal issues.Another limitation is technological barriers and an education gap across the industry, which prevent some farmers from fully grasping and using the technology. European farmers, who need stablecoins less because infrastructure is pretty well established, will also not have full access to these stable mechanisms for facilitating trade.There are barriers, but the demand for stablecoins in African agriculture is undeniable. There is a strong willingness within the agricultural community to get on board with compliant stablecoins that support cross-border liquidity.The mass adoption of stablecoins won’t happen overnight, but that’s not to say that this industry isn’t progressing toward the digital. The offer of stablecoins is tantalizing — instant transactions, lower fees and enhanced financial access. It’s only a matter of time before more farmers make the switch.Agricultural traders struggling under the weight of an outdated and intrusive banking system are ready for greater financial inclusion. And we should be, too. This industry connects us all and will be lifted by stablecoins. The tech will be transformative for the field — not just as an innovation, but as an essential evolution.Opinion by: Henry Duckworth, founder and CEO of AgriDex.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Mantra exposes crypto liquidity problems, and Coinbase is bearish: Finance Redefined
Crypto investor sentiment took another significant hit this week after Mantra’s OM token collapsed by over 90% within hours on Sunday, April 13, triggering knee-jerk comparisons to previous black swan events such as the Terra-Luna collapse.Elsewhere, Coinbase’s report for institutional investors added to concerns by highlighting that cryptocurrencies may be in a bear market until a recovery occurs in the third quarter of 2025.Mantra OM token crash exposes “critical” liquidity issues in cryptoMantra’s recent token collapse highlights an issue within the crypto industry of fluctuating weekend liquidity levels creating additional downside volatility, which may have exacerbated the token’s crash.The Mantra (OM) token’s price collapsed by over 90% on Sunday, April 13, from roughly $6.30 to below $0.50, triggering market manipulation allegations among disillusioned investors, Cointelegraph reported.While blockchain analysts are still piecing together the reasons behind the OM collapse, the event highlights some crucial issues for the crypto industry, according to Gracy Chen, CEO of the cryptocurrency exchange Bitget.“The OM token crash exposed several critical issues that we are seeing not just in OM, but also as an industry,” Chen said during Cointelegraph’s Chainreaction daily X show, adding:“When it’s a token that’s too concentrated, the wealth concentration and the very opaque governance, together with sudden exchange inflows and outflows, […] combined with the forced liquidation during very low liquidity hours in our industry, created the big drop off.”Source: CointelegraphContinue readingCrypto in a bear market, rebound likely in Q3 — CoinbaseA monthly market review by publicly traded US-based crypto exchange Coinbase shows that while the crypto market has contracted, it appears to be gearing up for a better quarter.According to Coinbase’s April 15 monthly outlook for institutional investors, the altcoin market cap shrank by 41% from its December 2024 highs of $1.6 trillion to $950 billion by mid-April. BTC Tools data shows that this metric touched a low of $906.9 billion on April 9 and stood at $976.9 billion at the time of writing.Venture capital funding to crypto projects has reportedly decreased by 50%–60% from 2021–22. In the report, Coinbase’s global head of research, David Duong, highlighted that a new crypto winter may be upon us.“Several converging signals may be pointing to the start of a new ‘crypto winter’ as some extreme negative sentiment has set in due to the onset of global tariffs and the potential for further escalations,” he said.Continue readingManta founder details attempted Zoom hack by Lazarus that used very real “legit faces”Manta Network co-founder Kenny Li said he was targeted by a sophisticated phishing attack on Zoom that used live recordings of familiar people in an attempt to lure him to download malware. The meeting seemed real with the impersonated person’s camera on, but the lack of sound and a suspicious prompt to download a script raised red flags, Li said in an April 17 X post.“I could see their legit faces. Everything looked very real. But I couldn’t hear them. It said my Zoom needs an update. But it asked me to download a script file. I immediately left.”Li then asked the impersonator to verify themselves over a Telegram call, however, they didn’t comply and proceeded to erase all messages and block him soon after.Source: Kenny LiLi said the North Korean state-backed Lazarus Group was behind the attack.The Manta Network co-founder managed to screenshot his conversation with the attacker before the messages were deleted, during which Li initially suggested moving the call over to Google Meet.Source: Kenny LiSpeaking with Cointelegraph, Li said he believed the live shots used in the video call were taken from past recordings of real team members.“It didn’t seem AI-generated. The quality looked like what a typical webcam quality looks like.”Continue readingAI tokens, memecoins dominate crypto narratives in Q1 2025: CoinGeckoThe cryptocurrency market is still recycling old narratives, with few new trends yet to emerge and replace the leading themes in the first quarter of 2025.Artificial intelligence tokens and memecoins were the dominant crypto narratives in the first quarter of 2025, accounting for 62.8% of investor interest, according to a quarterly research report by CoinGecko. AI tokens captured 35.7% of global investor interest, overtaking the 27.1% share of memecoins, which remained in second place.Out of the top 20 crypto narratives of the quarter, six were memecoin categories while five were AI-related.AI tokens, memecoins, were leading crypto narratives in Q1 2025: CoinGecko“Seems like we have yet to see another new narrative emerge and we are still following past quarters’ trends,” said Bobby Ong, the co-founder and chief operating officer of CoinGecko, in an April 17 X post. “I guess we are all tired from the same old trends repeating themselves.”Continue readingCrypto lending down 43% from 2021 highs, DeFi borrowing surges 959%The crypto lending market’s size remains significantly down from its $64 billion high, but decentralized finance (DeFi) borrowing has made a more than 900% recovery from bear market lows.Crypto lending enables borrowers to use their crypto holdings as collateral to obtain crypto or fiat loans, while lenders can use their holdings to generate interest.The crypto lending market was down over 43%, from its all-time high of $64.4 billion in 2021 to $36.5 billion at the end of the fourth quarter of 2024, according to a Galaxy Digital research report published on April 14.“The decline can be attributed to the decimation of lenders on the supply side and funds, individuals, and corporate entities on the demand side,” according to Zack Pokorny, research associate at Galaxy Digital.Crypto lending key events. Source: Galaxy ResearchThe decline in the crypto lending market started in 2022 when centralized finance (CeFi) lenders Genesis, Celsius Network, BlockFi and Voyager filed for bankruptcy within two years as crypto valuations fell.Their collective downfall led to an estimated 78% collapse in the size of the lending market, with CeFi lending losing 82% of its open borrows, according to the report.Continue readingDeFi market overviewAccording to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.Decentralized exchange (DEX) Raydium’s (RAY) token rose over 26% as the week’s biggest gainer, followed by the AB blockchain (AB) utility token, up over 19% on the weekly chart.Total value locked in DeFi. Source: DefiLlamaThanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
South Korean crypto emerges from failed coup into crackdown season
South Korea kicked off 2025 with political chaos, regulatory heat and a crypto market finally brought to heel — or at least forced to grow up.The nation closed 2024 in disarray following then-President Yoon Suk Yeol’s botched martial law stunt in December.In the aftermath, authorities spent the first quarter drawing lines in the sand as financial watchdogs slapped cryptocurrency exchanges with probes and lifted the ban on corporate trading accounts. Meanwhile, crypto adoption hit record highs as trading volume cooled.Here’s a breakdown of the key developments that shaped South Korea’s crypto sector in Q1 of 2025.South Korea’s economy limped into 2025 as local currency tanked. Source: Ki Young JuSouth Korean crypto traders given yet another two-year tax exemptionJan. 1 — Crypto tax postponedA planned 20% capital gains tax on crypto did not take effect on Jan. 1 after lawmakers agreed to delay it until 2027. This was the third postponement: first from 2022 to 2023, then again to 2025.Related: Crypto’s debanking problem persists despite new regulations The latest delay, reached through bipartisan consensus in late 2024, came amid mounting economic uncertainty and political turmoil. Lawmakers cited fears of investor flight to offshore exchanges, challenges in tracking wallet-based profits, and shifting national priorities in the wake of Yoon’s failed martial law stunt and subsequent impeachment.Jan. 14 — Warning against North Korean crypto hackersThe US, Japan and South Korea published a joint statement on North Korean crypto hacks. Crypto firms were warned to guard against malware and fake IT freelancers. Lazarus Group, the state-sponsored cyber threat group, was named as a prime suspect in some of the top hacks in 2024, such as the $230-million hack on India’s WazirX and the $50-million hack against Upbit, South Korea’s largest crypto exchange.At least $1.34 billion of crypto stolen in 2024 has been attributed to North Korea. Source: ChainalysisJan. 15 — Companies wait on the sidelines for crypto greenlightSouth Korea’s Virtual Asset Committee, a crypto policy coordination body under the Financial Services Commission (FSC), held its second meeting. The FSC was widely expected to approve corporate access to trading accounts on local exchanges. Despite popular demand, the FSC held off on making an official decision, citing the need for further review.Instead, the FSC announced investor protections against price manipulation and stricter stablecoin oversight.Jan. 16 — First enforcement of crypto market manipulationSouth Korean authorities indicted a trader in the first pump-and-dump prosecution under the Virtual Asset User Protection Act, the new crypto law effective from July 2024.Meanwhile, Upbit received a suspension notice for allegedly violating Know Your Customer (KYC) requirements in over 500,000 instances, prompting regulators to consider a ban on new user registrations.Jan. 23 — Upbit, Bithumb compensate users after service outages during martial lawUpbit and rival exchange Bithumb announced plans to compensate users following service disruptions triggered by the surprise declaration of nationwide martial law on Dec. 3, 2024. The shocking move caused panic across financial and crypto markets, leading to a surge in traffic that overwhelmed local trading platforms.Ex-President Yoon took his shot at martial law, which backfired and shaped South Korea’s 2025. Source: Kang Min Seok, Presidential Security Service South Korean crypto world finally opened to corporationsFeb. 13 — Charities and universities get first dibs on corporate crypto accessThe FSC unveiled its long-awaited plan to allow corporate entities to open crypto trading accounts in phases by late 2025. The rollout will require businesses to use “real-name” accounts and comply with KYC and Anti-Money Laundering (AML) regulations. Charities and universities are first in line and will be allowed to sell their crypto donations starting in the first half of the year.South Korea’s real-name financial transaction system, introduced in 1993, was designed to combat tax evasion and money laundering by requiring all bank accounts to be opened under verified legal names using national IDs.Related: Market maker deals are quietly killing crypto projectsCrypto trading exploded in 2017, driven in part by anonymous accounts from businesses, foreigners and minors. Financial authorities responded by requiring crypto exchanges to partner with domestic banks and offer fiat services only through verified real-name accounts. To date, only five exchanges have met the requirements.Since there was no regulatory framework for real-name corporate accounts, this policy effectively shut out both overseas users and domestic companies from trading on South Korean exchanges. The new roadmap aims to fix that by creating a formal structure for institutional participation under tighter compliance standards.Feb. 21 — Alleged serial fraudster busted againPolice rearrested “Jon Bur Kim,” identified by the surname Park, for allegedly profiting 68 billion won (approximately $48 million) in a crypto scam involving the token Artube (ATT). He allegedly employed false advertising, pump-and-dump tactics and wash trading to manipulate the market.This wasn’t Park’s first brush with the law. He was previously indicted in a 14-billion-won (around $10 million) token fraud case and was out on bail when he launched ATT.Park flashes supercars on social media. Source: Jon Bur KimFeb. 25 — Upbit operator Dunamu gets slappedThe nation’s Financial Intelligence Unit (FIU) formally notified Dunamu, operator of Upbit, of regulatory action. The sanctions were tied to KYC compliance failures and dealings with unregistered foreign exchanges. The FIU issued a partial business suspension, restricting Upbit from processing new customers’ deposits and withdrawals for three months.Feb. 27 — Crypto crime force formalizedSouth Korean prosecutors formally launched the Virtual Asset Crime Joint Investigation Division, following a year and seven months as a temporary operation. As a non-permanent unit from July 2023, the task force indicted 74 individuals, secured 25 arrests, and recovered over 700 billion won (around $490 million) in illicit gains. The 30-person task force includes prosecutors, regulatory staff and specialists.Feb. 28 — Upbit operator Dunamu files lawsuit to overturn business sanctionsDunamu said it filed a lawsuit against the FIU to challenge the sanctions imposed on the exchange.Bitcoin ETF next on checklist for South Korean crypto spaceMarch 5 — Reconsidering Bitcoin ETF banThe FSC started reviewing legal pathways to allow Bitcoin (BTC) spot exchange-traded funds (ETFs), citing Japan’s evolving regulatory approach as a potential model. This marks a notable shift from South Korea’s previous opposition to crypto-based ETFs.The Capital Markets Act does not recognize cryptocurrencies as eligible underlying assets for ETFs. However, in 2024, lobbying efforts from major domestic brokerages intensified amid rising client demand, especially after spot Bitcoin ETFs were approved in the US.While the review remains in its early stages, regulators are no longer dismissing the possibility outright.March 21 — Crackdown on unregistered exchanges beginsThe FIU compiled a list of illegal foreign exchanges and moved to block access via app stores and ISPs. Additionally, the agency warned of criminal penalties for trading platforms operating without a license.March 26 — 17 exchange apps blocked (including KuCoin and MEXC)Google Play removed 17 unlicensed crypto exchange apps in South Korea at the request of regulators. The FIU said it is also working with Apple to block unauthorized crypto platforms.There are 22 unregistered overseas exchanges on the regulators’ radar, and 17 have been banned from the Google Play store. Source: FSCMarch 27 — Upbit scores three-month breakA South Korean court temporarily lifted the Feb. 25 partial business suspension imposed on crypto exchange Upbit by the FIU. The court’s decision allows Upbit to resume serving new users while the case is under review.South Korean crypto expected to go from crackdown in Q1 to campaign trail in Q2As March ended, more than 16 million investors — roughly a third of South Korea’s population — held crypto accounts, surpassing the 14.1 million domestic stock traders. But that surge in adoption came as trading activity cooled. Upbit, the country’s dominant exchange, saw volumes fall by 34%, dropping from $561.9 billion in Q4 2024 to $371 billion in Q1 2025, according to CoinGecko.By mid-April, the crackdown was still gaining steam. Apple followed Google’s lead in removing offshore exchange apps from its store, while prosecutors filed yet another round of market manipulation charges.South Korea’s crypto industry is now contending with tighter rules, rising institutional expectations and a government no longer content to watch from the sidelines.All this unfolds ahead of an early presidential election in June, following Yoon’s impeachment. Crypto played a visible role in Yoon’s successful 2022 presidential election campaign and is expected to remain a key issue with voters. One candidate in the upcoming election, former prosecutor Hong Joon-pyo of the People Power Party, recently pledged to overhaul crypto regulations in line with the pro-industry stance of the Trump administration, local media reported. Despite the pledge, Hong’s understanding of the technology came into question as he admitted to not knowing what a central bank digital currency is.Magazine: Uni students crypto ‘grooming’ scandal, 67K scammed by fake women: Asia Express
Bitcoin price volatility 'imminent' as speculators move 170K BTC — CryptoQuant
Bitcoin (BTC) speculators may spark “significant” BTC price volatility as a large tranche of coins moves onchain.In one of its “Quicktake” blog posts on April 18, onchain analytics platform CryptoQuant warned that a Bitcoin market shake-up is due.CryptoQuant: “Volatility is coming” for BTC priceBitcoin short-term holders (STHs) are signaling that the current calm BTC price behavior may not last long.CryptoQuant reveals that 170,000 BTC owned by entities with a purchase date between three and six months ago has begun to circulate.“Around 170,000 BTC are moving from the 3–6 month holder cohort,” contributor Mignolet confirmed. “Large movements from this group often signal that significant volatility is imminent.”BTC movements by 3-6 month hodler cohort (screenshot). Source: CryptoQuantAn accompanying chart shows the impact of previous STH events, with the latest being the largest by volume since late 2021. Price direction varies, with both upward and downward market responses visible.“Volatility is coming,” Mignolet concluded.Bitcoin speculators blamed for sell pressureAs Cointelegraph reported, STH entities are notoriously sensitive to snap market moves and transitive narratives.Related: Bitcoin gold copycat move may top $150K as BTC stays ‘impressive’Recent BTC price downside has been met with episodes of panic selling by the cohort, which is defined as an entity buying up to six months previously.Earlier this week, CryptoQuant listed STHs as one of the main sources of current Bitcoin selling pressure.“Short-Term Holders (STH) have been the primary sellers, sending an average of ~930 BTC/day to exchanges,” fellow contributor Crazzyblockk wrote in a separate Quicktake post. “In contrast, Long-Term Holders (LTH) only moved about ~529 BTC/day — highlighting short-term fear or profit-taking, while long-term conviction remains intact.”Bitcoin investor flow comparison (screenshot). Source: CryptoQuantCrazzyblockk described a “classic shakeout” occurring in Bitcoin, while allaying concerns over a uniform rush for the exit across the investor spectrum.“With Bitcoin trading sideways and volatility compressing, this cohort-driven breakdown helps us understand that the current correction is not a mass exodus by smart money — it’s more likely a reaction from nervous short-term and mid-tier holders,” the post said.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Trump blasts ‘too late’ Powell for not cutting interest rates
US President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell, accusing him of being too slow to cut interest rates and escalating a long-running conflict that risks undermining the central bank’s political independence.With the European Central Bank (ECB) cutting interest rates again on April 17, “Too Late” Powell has failed to act appropriately in the United States, even with inflation falling, Trump said on Truth Social on April 17. “Powell’s termination cannot come fast enough!” Trump said.Source: realDonaldTrumpFlorida Senator Rick Scott agreed with the president, saying, “it’s time for new leadership at the Federal Reserve.”Trump’s public criticism of the Fed breaks a decades-long convention in American politics that sought to safeguard the central bank from political scrutiny, which includes any executive decision to replace the chair. In an April 16 address at the Economic Club of Chicago, Powell said Fed independence is “a matter of law.” Powell previously signaled his intent to serve out the remainder of his tenure, which expires in May 2026. Related: S&P 500 briefly sees ‘Bitcoin-level’ volatility amid Trump tariff warCrypto, risk assets look to the Fed for guidanceThe Federal Reserve wields significant influence over financial markets, with its monetary policy decisions affecting US dollar liquidity and shaping investor sentiment.Since the COVID-19 pandemic, crypto markets have increasingly come under the Fed’s sphere of influence due to the rising correlation between dollar liquidity and asset prices. This was further corroborated by a 2024 academic paper written by Kingston University of London professors Jinsha Zhao and J Miao, which concluded that liquidity conditions now account for more than 65% of Bitcoin’s (BTC) price movements.As inflation moderates and market turmoil intensifies amid the trade war, Fed officials are facing mounting pressure to cut interest rates. However, Powell has reiterated the central bank’s wait-and-see approach as officials evaluate the potential impact of tariffs. A measure of real-time inflation known as “truflation” suggests that cost pressures are much weaker than the Fed’s primary indicators, which are several months out of date. Source: TruflationThe Fed is expected to maintain its wait-and-see policy approach at its next meeting in May, with Fed Fund futures prices implying a less than 10% chance of a rate cut. However, rate cut bets have increased to more than 65% for the Fed’s June policy meeting. Related: Weaker yuan is ‘bullish for BTC’ as Chinese capital flocks to crypto — Bybit CEO
Bitcoin gold copycat move may top $150K as BTC stays 'impressive'
Bitcoin (BTC) has a new gold-inspired $155,000 target, as analysis describes both assets as “remarkably impressive.”In a post on X on April 16, popular trading and analytics account Cryptollica predicted BTC/USD copying gold to hit new all-time highs next.Analysis sees key BTC price similarities to goldBitcoin has made the headlines for its inability to follow in gold’s record-breaking footsteps in 2025.While XAU/USD continues to see repeated record highs, BTC/USD is down 9.3% year-to-date, data from Cointelegraph Markets Pro and TradingView shows.BTC/USD 1-day chart. Source: Cointelegraph/TradingViewDespite calls for an imminent “blow-off top” for gold, Bitcoin bulls hope that after a delay of several months, its “digital” equivalent will follow suit.For Cryptollica, this means BTC/USD breaking out of a consolidatory wedge structure to swiftly reclaim six figures — and more.“Bitcoin midterm target: 155K $,” it told X followers.XAU/USD vs. BTC/USD. Source: Cryptollica/XBTC price performance already has various potential tailwinds at its disposal, all of which have fueled bull runs in the past.As Cointelegraph reported, these include a declining US dollar index (DXY) and all-time highs in the global M2 money supply.Bitcoin “remarkably impressive” during trade warContinuing, onchain analytics firm Glassnode argued that despite the price performance disparity, Bitcoin and gold have weathered the current macroeconomic storm remarkably well.Related: Can 3-month Bitcoin RSI highs counter bearish BTC price ‘seasonality?’“Amidst this turmoil, the performance of hard assets remains remarkably impressive,” it summarized in the latest edition of its regular newsletter, “The Week Onchain,” published on April 16. “Gold continues to surge higher, having reached a new ATH of $3,300, as investors flee to the traditional safe haven asset. Bitcoin sold off to $75k initially alongside risk assets, but has since recovered the weeks gains, trading back up to $85k, now flat since this burst of volatility.”XAU/USD vs. BTC/USD (screenshot). Source: GlassnodeGlassnode said that gold and BTC are “increasingly entering the centre stage as global neutral reserve assets.”In terms of the BTC price drawdown, analysts stressed the fact that by historical standards, the dip versus all-time highs remains modest at around 30%.“In prior macroeconomic events like last week, Bitcoin has typically experienced greater than -50% sell-offs in such events, which highlights a degree of robustness of modern investor sentiment towards the asset during unfavourable conditions,” it wrote, referring to the ongoing US-China trade war.Bitcoin bull market drawdowns (screenshot). Source: GlassnodeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.