Day: April 7, 2025

Bloomberg analyst predicts Bitcoin could sink back to $10,000

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Diving into the chaos of global markets, Bloomberg Senior Commodity Strategist Mike McGlone warns more turmoil could be on the way. In an exclusive interview with Cointelegraph, McGlone points to deepening market sell-offs, intensified by US President Donald Trump’s ongoing tariff wars, and forecasts a sharp correction in crypto assets. He predicts Bitcoin could tumble to $10,000, citing excessive speculation and overvaluation within the digital asset space. “Look at Dogecoin — it still has a $20 billion market cap. It should go to zero. The whole space needs purging, just…

Price analysis 4/7: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LEO

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Bitcoin (BTC) made a sharp comeback and is trading near the $78,000 level. The largest cryptocurrency by market capitalization tumbled below the psychological support of $80,000 after the US stock futures market opened sharply lower on April 6. The selling continued on April 7, and Bitcoin hit a new year-to-date low of $74,508, but lower levels attracted solid buying by the bulls. The bearish macroeconomic picture sent the Fear & Greed Index of the US stock markets to just 4/100. Usually, such periods of panic selling form a bottom as…

Bitcoin, stocks crumble after ‘90 day tariff pause’ deemed fake news — BTC whales keep accumulating

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Global financial markets continued to tumble on April 7, as US equities dropped more than 3%, wiping more than $2 trillion in value on market open. The pullback saw the S&P 500 drop 2.79%, with the index officially entering a bear market, following a 20% decline from its recent all-time highs. However, the SPX momentarily rallied by 6% after a rumor began to spread on X that US President Donald Trump was contemplating a 90-day tariff pause. Bitcoin (BTC) price also rallied above $80,000, but after 30 minutes of positive…

Fed may be forced into emergency rate cut before May meeting, JPMorgan executive suggests

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Key Takeaways The Fed faces pressure to consider an emergency rate cut amid market turmoil. JPMorgan’s Bob Michele raised the flags that companies are under strain. Share this article The Federal Reserve may need to implement an emergency rate cut before its scheduled May meeting due to severe market stress, said Bob Michele, Global Head of Fixed Income at JPMorgan Asset Management, in a recent interview with Bloomberg Surveillance. The US stock market is entering its third trading session after losing over $5 trillion just two days after President Trump…

Pakistan appoints Changpeng Zhao as crypto adviser as adoption heats up

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Former Binance CEO Changpeng “CZ” Zhao has been appointed as an adviser to Pakistan’s Crypto Council, a newly formed regulatory body tasked with overseeing the country’s embrace of blockchain technology and digital assets.  The appointment was confirmed by Pakistan’s finance ministry and reported by Bloomberg on April 7. Zhao will advise the regulatory body on cryptocurrency regulation, infrastructure and adoption, Bloomberg reported. CZ is seen signing documents during his appointment by Pakistan’s Ministry of Finance. Source: Business Recorder Zhao is one of the most recognizable names in crypto, having served…

Metaplanet repays 2B yen bonds early, CEO comments on BTC ‘down days’

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Metaplanet, a Japanese hotel manager turned Bitcoin treasury company, has fully repaid 2 billion yen ($13.5 million) worth of bonds ahead of schedule as it seeks to shore up its financial position. Metaplanet conducted an early redemption of its 9th Series of Ordinary Bonds on April 4, more than five months before the maturity date, the company disclosed on April 7.  The zero-interest bonds were issued in March through Metaplanet’s Evo Fund and used to acquire additional Bitcoin (BTC). Since the bonds carry zero interest, the repayment would not have…

Trump’s tariffs shake Bitcoin, but some are buying the dip

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Bitcoin holders are facing renewed pressure following US President Donald Trump’s trade tariff announcement, which sent shockwaves through global financial markets, including cryptocurrencies. However, with Bitcoin (BTC) hodlers now under pressure, some community members, including BitMEX co-founder Arthur Hayes, are not missing a chance to buy BTC at a discount. “Been nibbling on BTC all day, and shall continue,” Hayes wrote on X on April 7 as the Bitcoin price hovered around $75,000. Source: Arthur Hayes He also predicted that Bitcoin’s dominance in the broader crypto market could grow. He…

Was Bitcoin price drop to $75K the bottom? — Data suggests BTC to stocks decoupling will continue

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Bitcoin (BTC) fell below $75,000 on April 6, pressured by traditional markets as S&P 500 futures hit their lowest levels since January 2024. The initial panic also caused WTI oil futures to drop below $60 for the first time in four years. However, markets later recovered some losses, allowing Bitcoin to reclaim the $78,000 level. Bitcoin’s high correlation with traditional markets tends to be short-lived While some analysts argue that Bitcoin has entered a bear market following a 30% price correction from its cycle peak, historical data offers numerous examples…

A decade-old debate is back as self-custody gets smarter

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Here we go again: A top centralized crypto exchange (CEX) was hacked, this time likely for the largest sum in humanity’s history. We were lucky to avoid the worst — platform collapse and devastating consequences for the industry. The incident reminded us again that even the strongest market players are not invincible.  CEXs’ freedom to manage customer funds comes with risks, reminding users that good old non-custodial storage is still the safest. With recent advances in security features, wallets safeguard coins and help users safely make the most of their…

Bitcoin price retakes $80K as US stocks avoid ‘Black Monday’ meltdown

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Bitcoin (BTC) sought a relief rally into the April 7 Wall Street open as US stocks rebounded from a 4%+ loss. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView Bitcoin joins US stocks in relief rally Data from Cointelegraph Markets Pro and TradingView showed the area around $80,000 forming a focus for BTC/USD after the pair hit five-month lows. The fallout from US trade tariffs continued to ricochet across global markets, with Asia stocks closing the day with considerable losses. At the same time, reports of a potential 90-day pause in the tariffs…