Crypto Alert: Fake Browser Extensions on the Loose

Crypto Market Update: Whales Accumulate Bitcoin Amidst Price Dip

The cryptocurrency market has taken a hit, with Bitcoin’s price dropping below $93,000 due to a stronger US dollar, inflation concerns, and fading hopes for interest rate cuts. This dip has led to a slight decrease in the Fear & Greed Index, which now stands at 69. However, despite this correction, some analysts believe that Bitcoin’s price could still reach new heights.

Whales Accumulate Bitcoin

According to Julio Moreno from CryptoQuant, BTC holders’ unrealized profits have decreased during this correction, which might help prevent overly risky behavior. Moreno also flagged $88,000 as a potential support level for Bitcoin. Meanwhile, analyst Aksel Kibar sees $73.7K as Bitcoin’s final defense line, which is around its previous all-time high.

US Government to Sell Seized Bitcoin

The US government has recently obtained court approval to sell 69,370 BTC, worth approximately $6.5 billion. While this sale could potentially shake the market, CryptoQuant’s CEO Ki Young Ju pointed out that previous rallies have absorbed around $1 billion per day, suggesting that the market could handle this sale in about a week.

Memecoins See Significant Gains

Some memecoins have seen significant gains in the past 24 hours, including SENTA, AI, AIPUMP, and PIPPIN. These gains are a reminder that the cryptocurrency market can be highly volatile and unpredictable.

Governments Warm Up to Crypto Payments

Regulators and governments worldwide are starting to warm up to crypto payments. In Oklahoma, Republican State Senator Dusty Deevers has filed the Bitcoin Freedom Act, which would allow Oklahomans to receive their salaries in BTC and spend it at local vendors. In Thailand, the government plans to pilot BTC payments in Phuket, one of its most popular tourist destinations, as a way to give foreign visitors more payment options.

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Why Crypto Payments Matter

The adoption of crypto payments by governments and states is significant because it legitimizes Bitcoin and other cryptocurrencies as a normal and practical option for businesses and consumers worldwide. This could lead to wider adoption and increased mainstream acceptance of cryptocurrencies.

News Drops

* Avi Eisenberg, the individual behind the Mango Markets exploit, has had his sentencing postponed to April 10.
* FTX has clarified that the court has not approved the sale of FTX EU or allowed Backpack to pay off creditors.
* The IMF is pushing Kenya to set clear crypto rules to keep consumers safe and prevent money laundering.
* Fake OKX browser extensions are out in the Firefox plugin store, and users are likely phishing for users’ crypto.
* Martin Shkreli, aka Pharma Bro, wants the Wu-Tang Clan to step into his legal beef with PleasrDAO.

Conclusion

The cryptocurrency market is highly volatile, and prices can fluctuate rapidly. However, despite the current dip, some analysts believe that Bitcoin’s price could still reach new heights. The adoption of crypto payments by governments and states is significant, and could lead to wider adoption and increased mainstream acceptance of cryptocurrencies. As always, it’s essential to stay informed and do your own research before making any investment decisions.

Source: Bitdegree.org

#BitcoinNews #Bitcoin #EthereumNews #CryptoInvesting

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