๐ Daily Crypto Market Update ๐
29 April 2024
1. Market Overview
- Global Market Cap: 3.08
- Top Movers: VIRTUAL, XMR, FLR, NEXO, BONK, SEI
2. Altcoin Market Trends ๐
- Alts are continuing their rally as $BTC chopped between 93-95k. BONK is still maintaining traction because of the community's letsbonk.fun platform launch and the recent VIRTUALS run solidifies that AI is here to stay and the "AI Summer" narrative is just around the corner.
3. Key News Headlines ๐ฐ
- Regulatory Updates: Arizona House passes bill to establish a Bitcoin Reserve.
- Partnerships or Integrations: Mastercard adds crypto stablecoin settlement support for merchants.
- Major Developments: Chinese company Temu, known for its cheap prices, adds import charges of up to 150% to counter US tariffs.
4. Upcoming Events โฉ
- Apr 30th-May 1st Token 2049 Dubai
- May 7th FOMC meeting
- May 30th FTX starts $11.4B of creditor payouts
5. Summary โ๏ธ
There's been a lot of chop because of tariffs and the Russia/Ukraine war. Just recently we had positive developments come from Israel and India in relation to tariff negotiations, along with Russia finally laying out their terms for a ceasefire. We also had Arizona's House pass a bill to establish a Bitcoin Reserve which brings it closer than any other state. This could also have rippling effects for a further move higher. BTC is very close to breaking major resistance so if we get any more positive news regarding the aforementioned topics (especially with China), that could be enough to break us through resistance. I continue to bid outperformers at strong support and manage risk accordingly.