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Bitcoin is currently experiencing an unprecedented crisis. This strong volatility worries institutional investors. The evidence: some of them are beginning to reassess their exposure to this digital asset. BlackRock CEO Larry Fink even warns of an imminent crash. The price of Bitcoin has just dropped below $85,000. This has resulted in a colossal loss of $1 trillion in just one month. This brutal drop of BTC recalls the worst periods of the crypto market, thereby reviving fears of a massive collapse similar to that of 2022. The value of Bitcoin had fallen from $69,000 to $15,000 in one year. According to experts, this plunge is explained by several factors, including: The increasing correlation between BTC and the stock market is also a topic of debate. Once considered a safe haven, the leading cryptocurrency now seems to follow the trends of tech stocks. BlackRock CEO Larry Fink raises the alarm about the risks posed by the drop in bitcoin prices for the global financial system. During an intervention at the CeraWeek conference, he stated: The volatility of cryptocurrencies is a major problem. The more they integrate into traditional markets, the more they amplify systemic risks. In this regard, BlackRock is already revising its strategy regarding its bitcoin ETFs. The decline in institutional enthusiasm could thus harm the growth of these financial products. Elon Musk is throwing gasoline on the fire by suggesting that cryptocurrencies could enter a speculative bubble that risks bursting abruptly. This is not the first time the Tesla boss has influenced the crypto market. In 2021, his comments on bitcoin and Dogecoin caused significant price fluctuations. Some traders interpret his remarks as a warning sign of a broad financial crisis in which bitcoin could suffer more. Others see it as an attempt to manipulate the market. One thing is certain: investors remain cautious in the face of the billionaire’s statements. According to a recent analysis, the bitcoin derivatives markets are experiencing an explosion of short positions. This concretely means that many traders are betting on further price declines. If this trend continues, a massive liquidation could: The upcoming months are therefore crucial. If institutional investors continue to withdraw from the market, the market capitalization of bitcoin could decrease further. If regulations bring increased stability, however, the flagship crypto asset could rebound. Stay tuned…

Dogecoin (DOGE) stages a marginal rebound from $1.6 to $1.7 after surging by 2.8% in the last 24 hours. According to our market data, the asset is attempting to breach its 30-day high of $0.28 and make a subsequent move towards its yearly high of $0.48. From this level, DOGE could attempt to breach the all-time-high price at $0.73 before targeting the predicted zone at $3. Amidst the backdrop of these expectations, investors’ confidence appears to be rising as the Dogecoin network expands over the past months. In data shared by analyst Ali Martinez, the total number of new Doge addresses has doubled from 16,400 to 34,600. Meanwhile, the asset is reported to have maintained a crucial support level that could determine its next move. As indicated in the chart below, Ali Martinez believes that a successful hold above the current price could see the asset hitting $0.5 and, subsequently, $3. Fascinatingly, its potential upsurge has been confirmed by the stock Relative Strength Index (RSI). Analyzing historical data, we found that DOGE recorded an 88% and 187% surge in October 2023 and February 2024, respectively, after the stock RSI embarked on a bullish crossover. According to Ali Martinez, a similar movement is being recorded on the weekly chart. If this support holds, we might see a rebound toward the mid or upper boundary of the channel. Joining the DOGE discussion, another analyst identified as Tardigrade has noticed a recurring pattern in the asset’s price action. Basing his prediction on historical movements, this analyst also pointed out that DOGE mostly forms an initial low when the RSI enters the oversold territory. When the RSI reading remains in the oversold territory for some time, the asset records lower lows. According to him, DOGE could embark on an explosive surge if history repeats. Responding to this bullish disclosure, whales are aggressively accumulating the asset, as 1.7 billion DOGE ($298 million) has been purchased in just 72 hours. According to analyst Lumen, this is a bullish signal ahead of the potential approval of the DOGE Exchange Traded Fund (ETF). Meanwhile, the ruling on the altcoin ETFs has been postponed to decide on a proposed rule change, as mentioned in our previous news brief. Per his observation, there is a high tendency for the asset to hit $0.5 once the price reaches $0.2 before the ETF approval. Fascinatingly, this aligns with our recent analysis which tips the DOGE to hit $0.6 by April 6. Additionally, Lumen believes that Tesla’s Elon Musk could resume his usual bullish post on DOGE “to send the price to the moon.” In a recent update , we reported that Cardano’s boss, Charles Hoskinson, has proposed to Elon Musk to make DOGE the main currency of social media platform X.

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$DOGE Dogecoin has just hit a new record for wallets, which is a significant milestone for this popular cryptocurrency. But will this achievement translate to a price increase? Let's dive into the details. Firstly, it's essential to understand that the number of wallets holding Dogecoin has been steadily increasing, indicating growing interest and adoption. This surge in wallets could be a bullish sign, as it suggests more people are buying and holding onto DOGE ¹. Several factors contribute to Dogecoin's potential price growth: - *Elon Musk's Influence*: Elon Musk's ongoing support and involvement with Dogecoin have played a significant role in its growth. His tweets and mentions of DOGE often drive up prices. - *Market Sentiment*: The Dogecoin community is known for its enthusiasm and loyalty, which can drive up prices during bull runs. - *Adoption and Use Cases*: More merchants are accepting DOGE, and new partnerships could increase demand. - *Broader Market Trends*: Dogecoin often follows the price action of larger cryptocurrencies like Bitcoin and Ethereum. A strong crypto market could push DOGE toward new all-time highs. Analysts predict that DOGE's price could reach $0.85 by the end of 2025, with potential growth driven by adoption, technological advancements, and market trends ¹. However, it's crucial to remember that investing in Dogecoin comes with risks, including: - *Volatility*: DOGE's price can fluctuate significantly within days. - *Lack of Utility*: Unlike Ethereum, Dogecoin doesn't have smart contract functionality. - *Regulatory Uncertainty*: Increased regulations could impact the cryptocurrency market. Despite these risks, many experts believe that Dogecoin has significant growth potential. If you're considering investing in DOGE, make sure to do your research, diversify your portfolio, and stay up-to-date with market trends. In conclusion, while the new record for wallets is a promising sign, it's essential to consider multiple factors before making any investment decisions. With its dedicated community, growing adoption, and potential for technological advancements, Dogecoin might just surprise us again in the future.