The American fintech firm is planning to go public following the reporting of a bumper stablecoin reserve income for 2024.  …

Learn MoreStablecoin Issuer Circle Files for IPO After Big Revenue Report

Bitcoin retreated to $86,000 in volatile action as the announcements were made. …

Learn MorePresident Trump to Order ‘Reciprocal Tariffs’ to Begin at Midnight

Bitcoin price caught an unexpected bid by rallying to a session high at $88,500, but will the price gains be capped at a multimonth overhead resistance that is aligned with the 50-day moving average? 

Key points:

• Bitcoin extended its April. 1 gains as news that the Trump administration had not finalized its “Liberation Day” tariffs emerged. 

• Israel, Mexico and India have already rolled back their tariffs on US imports or suggested that they will not do “tit for tat” tariffs in response to the expected April 2 US tariffs. 

• Bitcoin (BTC) trades slightly below a 3-month descending trendline resistance where the price has consistentlybeen rejected during past rallies. 

• Total market liquidations over the past 12-hour trading period have reached $145 million, with $69.4 million of the figure being Bitcoin shorts.  

Data from Kingfisher, CoinGlass and Velo show short liquidations playing a role in today’s push above $88,500. 

For the past few months, Bitcoin price has struggled to hold the gains accrued from rallies driven by leverage. Looking beyond futures markets, there are some positives that suggest that the market structure is slowly transitioning from bearish to bullish. 

As shown in the chart below, recent rallies were accompanied by a strong bid in the spot market and the return of the Coinbase Pro premium, leading some analysts to speculate buying from Strategy and other companies focused on building Bitcoin reserves. 

Over the last two weeks, GameStop, MARA, Metaplanet and Strategy all announced plans to buy more Bitcoin, with GameStop being on the verge of purchasing and Strategy actively adding to its BTC position. 

In the short-term, sustained spot buy volume at Binance and Coinbase Pro, and the crypto and equities markets’ response to President Donald Trump’s “Liberation Day” tariffs are likely to be the most impactful factors that will influence the current bullish momentum seen in Bitcoin price.  

Related: Bitcoin price on verge of breaking 10-week downtrend — Is $90K BTC next?

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.

…

Learn MoreBitcoin rally to $88.5K obliterates bears as spot volumes soar — Will a tariff war stop the party?

If approved, VanEck’s BNB ETF would be the first of its kind in the US, tracking Binance Coin’s price. …

Learn MoreVanEck Seeks SEC Approval for US’s First BNB ETF in Delaware Filing

Japanese TradFi giant Sumitomo Mitsui Financial Group announced plans to launch a fiat-backed stablecoin on the Avalanche network in collaboration with US-based Ava Labs and blockchain infrastructure firm Fireblocks. The project, currently in the planning phase, aims to modernize cross-border payments by reducing reliance on traditional intermediaries such as the SWIFT network, according to local […]

The post Japanese TradFi giant eyes stablecoin launch with Ava Labs, Fireblocks appeared first on CryptoSlate.

…

Learn MoreJapanese TradFi giant eyes stablecoin launch with Ava Labs, Fireblocks

Check out what can give BTC its much-needed boost for a new price resurgence. …

Learn MoreBitcoin (BTC) Needs to Reclaim These Price Levels to Ignite Next Bull Run (Analyst)

An OG Ethereum investor sold 2,001 ETH worth $3.82M on April 2nd amidst declining whale activity and price struggles. …

Learn MoreEthereum Whale Activity Plummets as Large Transactions Drop 63.8% Since Late February

The First Digital US-dollar pegged stablecoin (FDUSD) depegged on April 2 following claims of insolvency from Tron network founder Justin Sun, who said that the issuer of the tokenized fiat equivalent, First Digital, is insolvent.

First Digital responded to the claims by assuring users that the issuer is completely solvent and said that the dispute is with TrueUSD (TUSD), another stablecoin. The firm wrote in an April 2 X post:

“Every dollar backing FDUSD is completely, secure, safe and accounted for with US backed T-Bills. The exact ISIN numbers of all of the reserves of FDUSD are set out in our attestation report and clearly accounted for.”

First Digital also indicated they would be taking legal action against Sun for making the claims on social media.

This is a developing story, and further information will be added as it becomes available.

…

Learn MoreFDUSD stablecoin depegs following claims made by Justin Sun

Improved scalability should drive activity and value to the Avalanche network, said Geoff Kendrick. …

Learn MoreAvalanche’s AVAX Could Rise 10-Fold by 2029: Standard Chartered