02 Apr

Mixed trading conditions lie ahead for the global crypto market in the next 24 hours, with both Bitcoin and Ether facing bearish clouds or rain, signaling downside risks. However, a bullish sun shines over Litecoin, Polygon, Uniswap and Chainlink.

Over a one-week horizon, this bullish sun will shine over Bitcoin, Ripple’s XRP, Polygon, Uniswap and Chainlink, indicating upside potential. Ether, Litecoin, Cardano and other altcoins covered by ATTMO will face downside risks as clouds linger over them.

Cryptocurrencies start of the quarter in negative territory

Cryptocurrencies fell over the past 24 hours, contrarily to gold which hit a record high earlier today. Inflows into the 11 spot Bitcoin exchange traded funds (ETFs) approved in the US were negative on Monday, after four consecutive days of inflows last week.

“#Crypto has started the week down, particularly on the #altcoin side. As a result, we are seeing increased focus on whether #Bitcoin can stay propped up, and various trading strategies,” Santiment said.

The price of Bitcoinfell 4.2 percent to $66,792 over the past 24 hours and is down 5.2 percent over the past week. Bitcoin’s price typically falls in the run-up to its halving, expected around April 20. Read more about it here.

“Halving coming in hot in ~2 weeks and demand already exceeding supply by >2x,”BitWise Investments’ research analyst Gayatri Choudhury said.

Spot #Bitcoin ETFs bought 66,008 BTC in March, while miners only produced 28,513 #BTC, Bitcoin Magazine reports.

Bitwise CIO wants spot ETH ETF decision postponed to year-end

The Securities and Exchange Commission (SEC) ought to delay its approval of the applications for spot Ether ETFs to December, the CIO of Bitwise told Forbes. Bitwise filed its application for such ETF on March 28.

“Our odds for Eth ETF approval in May remain a pessimistic 25% (I’d go lower if I could tbh). There’s 7 wks till deadline and radio silence from SEC = bleak,” said Bloomberg’s ETF analyst Eric Balchunas.

The price of Ether fell 6.8 percent to $3,390 over the past 24 hours.

Nigerian tax evasion case against Binance set to start on Thursday

The tax evasion case charged by the Nigerian authorities against Binance is expected to start on April 4, CryptoSlate reports. Nigeria not only accuses the world’s largest crypto exchange of facilitating users to evade tax, but also of not paying value-added tax (VAT), corporate taxes and not filing tax returns.

Separately, the American Binance executive detained in Nigeria since the end of February demands his immediate release as well as the return of his passport. His case will be heard on April 8, according to CryptoSlate.

The price of Binance Coin lost 5.1 percent over the past 24 hours.

Thailand’s largest crypto exchange plans IPO next year

Bitkub, Thailand’s largest crypto exchange, announced that it is planning an initial public offering (IPO) next year, Bloomberg reports.

Assets of fake Bitcoin creator frozen by UK judge

A UK judge ordered the worldwide freeze of the assets of Craig Wright. His claim to be the creator of Bitcoin, Satoshi Nakamoto, was last month rejected by the judge.

Tether holds 0.3% of Bitcoin’s circulating supply

Tether, the largest stablecoin, now holds more than 75,000 Bitcoins ($ 5 billion at today’s price), which represents 0.3 percent of Bitcoin’s circulating supply, CryptoSlate reports. This makes Tether the seventh-largest holder of Bitcoin.

Crypto losses dropped in Q1

Overall, crypto losses dropped 23 percent during the first quarter to $437 million compared to the same period a year ago, Immunefi’s Q1 report shows. Ethereum was the most targeted blockchain, followed by the BNB Chain. Hacks caused 95 percent of the losses while fraud accounted for the remainder.

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ATTMO, a weather-inspired AI tool, makes cryptocurrency predictions. It also forecasts longer-term cryptocurrency trends. These forecasts are not trading advice; they are only decision support tools. They do not include information that is specific to the user; in particular they do not account for their personal risk appetite or market assessment.The forward-looking weather-inspiredpredictions that form part of this report may have changed by the time you read this edition of ATTMO Times.So always check the latest ATTMO predictions before making any investment decision.