Today is a sad Dogecoin day, because Elon Musk ignores this informal birthday of the dog for the second year in a row 🕑
In the meantime, Bitcoin halving took place, Toncoin is the main contender for the mass adoption of cryptocurrencies, and the stock market fell into the abyss - let’s sum up the results of the week.
💸 Cryptocurrencies
📍 At night, the fourth Bitcoin halving took place, network commissions soared to $100, and miners continued to work without mass outages.
Historically, BTC has always made a new high after halving, but now traders are figuring out whether there will be a strong correction. What no one argues with is that even if there is a fall in the near future, the global trend remains bullish 🆗
📍 The Hong Kong regulator has approved applications for spot Bitcoin and Ethereum ETFs, trading will start on April 30.
The guys from Bloomberg, for some unknown reason, are skeptical and are waiting for an influx of funds in the amount of $500 million - $1 billion. This is a warning not to catch FOMO or are they specifically inducing FUD to contain the price, we will soon find out 😃
📍 Tether has added support for the TON blockchain, and Telegram will tokenize stickers and add payments to content authors in TON.
At these announcements, TON adjusted to $6, but taking into account 900 million monthly users, this is only the beginning of the path to mass adoption of cryptocurrencies, and Buterin and Ethereum are nervously smoking on the sidelines 🕔
💵 Finance
📍 This week was the worst for big tech stocks since 2022. The Nasdaq fell 6%, led by Nvidia (↓13.5%).
For now there is just a correction in the stock market, but if it gives way to a bear market, Bitcoin will have to take a decent break before the new ATH, due to the correlation with the Nasdaq index 🔪
📍 In the first quarter, China's GDP grew by 5.3%, and the yuan became the top 4 currency for SWIFT payments for the first time with a result of 4.7%.
It looks like the Chinese economy is recovering, but producer prices showed deflation in March, and foreign investment fell 26% year on year in the first quarter.
And then there’s the return of trade wars, which China started first this time by introducing a 43.5% duty on the import of chemicals from the USA 🐲
📍 Israel struck back at Iran, but small... Markets fell immediately, but quickly recovered after the media called the event insignificant.
The current trend is that there will be no continuation of the aggravation in the Middle East and this is minus one risk factor for the S&P 500 and BTC 😇
$BTC $ETH $BNB #BTC #ETH #Bitcoin #Web3
