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Bitcoin’s wide price range to continue, no longer a ‘long only’ bet — Analyst

Bitcoin could be heading into another extended consolidation phase, with short-term indicators suggesting a more bearish outlook, contrary to the broader crypto community’s view, according to the head of research at 10x Research.

While many crypto analysts predict new Bitcoin (BTC) all-time highs by June, Markus Thielen said in an April 14 markets report that he is skeptical, pointing out that onchain data signals “more of a bear market environment than a bullish one.”

Short-term indicators signal potential market top

Thielen said the Bitcoin stochastic oscillator — which compares a particular closing price to a range of prices over a specific period to determine momentum — shows patterns “more typical of a market top or late-cycle phase rather than the early stages of a new bull run.”

Bitcoin is trading at $83,810 at the time of publication. Source: <a data-ct-non-breakable="null" href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow noopener" target="_blank"

Chipmaker stocks slide as Nvidia faces $5.5B charge with US restrictions

Chipmaking giants Nvidia and AMD have seen their share prices slide in after-hours trading after Nvidia said US restrictions on artificial intelligence chips to China would cause it to face major costs.

Nvidia stated in an April 15 regulatory filing that it is expecting around $5.5 billion in charges associated with its AI chip inventory due to significant export restrictions imposed by the US government affecting the company’s business with China.

Nvidia said that the US government informed it on April 9 that export licenses are now required for its popular H20 integrated circuits and any chips with similar bandwidth capacity.

“First quarter results are expected to include up to approximately $5.5 billion of charges associated with H20 products for inventory, purchase commitments, and related reserves.”

The restrictions specifically mention China, Hong Kong and Macau, and the government indicated that the license requirement “addresses

Brazil’s Meliuz floats to boost Bitcoin buying strategy

Brazilian fintech firm Meliuz has floated a plan to expand its Bitcoin holdings and make the cryptocurrency a strategic asset on the company’s books.

Meliuz, which provides cashback and financial technology services, is taking the plan to make Bitcoin (BTC) the primary strategic asset in the firm’s treasury to shareholders in a meeting slated for May 6, according to a translated April 14 statement.

The company said its core business will remain unchanged, but “the generation of cash from operations is fundamental to the strategy of acquiring more Bitcoin over time.”

If shareholders approve the measure, Bitcoin will be adopted as the firm’s main strategic treasury asset, but it will also look to foster “the incremental generation of Bitcoin for its shareholders, whether through the generation of operating cash or through possible financial transactions and strategic initiatives.”

Shareholders who

China selling seized crypto to top up coffers as economy slows: Report

Local governments in China are reportedly seeking ways to offload seized crypto while facing challenges due to the country’s ban on crypto trading and exchanges.

The lack of rules around how authorities should handle seized crypto has spawned “inconsistent and opaque approaches” that some fear could foster corruption, lawyers told Reuters for an April 16 report.

Chinese local governments are using private companies to sell seized cryptocurrencies in offshore markets in exchange for cash to replenish public coffers, Reuters reported, citing transaction and court documents.

The local governments reportedly held approximately 15,000 Bitcoin (BTC) worth $1.4 billion at the end of 2023, and the sales have been a significant source of income.

China holds an estimated 194,000 BTC worth approximately $16 billion and is the second largest nation Bitcoin holder behind the US, according to Bitbo.

Zhongnan University of

Aztec launches StealthNote app giving privacy to corporate whistleblowers

Developers behind the Ethereum layer 2 Aztec Network have launched a whistleblowing platform called StealthNote that allows workers to vent about their employer without revealing themselves.

StealthNote uses zero-knowledge proofs to prove that posts on its platform are written by someone with access to an email address of the company that they’re reviewing.

Aztec Labs developer Saleel Pichen wrote in an April 14 X post that StealthNote creates a zero-knowledge proof of a Google JSON Web Token, which is used to authenticate users and allows the platform to prove a poster owns “an email from a company domain without revealing any personal info.”

Two of the latest posts on StealthNote from personnel at Aztec Labs and Cornell University. Source: StealthNote.xyz

According to Aztec’s documentation, the privacy solution had been in development since at least Oct. 22, while the first

Semler Scientific reports $42M paper loss on Bitcoin, floats $500M stock sale

Healthcare technology firm Semler Scientific has reported paper losses on its Bitcoin holdings over the first quarter of this year as the cryptocurrency saw a heavy correction.

The firm reported a preliminary unrealized loss from the change in fair value of Bitcoin holdings of approximately $41.8 million since Dec. 31, according to a filing with the Securities and Exchange Commission on April 15.

Semler declared holdings of 3,182 Bitcoin (BTC) valued at around $263.5 million as of March 31. During the three-month period, BTC prices fell 12% from $93,500 at the beginning of January to $82,350 by the end of March. The full correction from its all-time high to the low below $75,000 on April 7 stands at 32%.

Semler reported expected revenues of $8.8 to $8.9 million and operational losses of $1.3 to $1.5 million for the period. It held cash and

Bitcoin bulls ‘coming back’ as key metric on Binance flips to neutral

Bullish sentiment could be returning to Bitcoin as a key metric from Binance, the largest crypto exchange by trading volume, shows that buyers are starting to dominate the platform’s volumes.

The Binance Taker Buy Sell Ratio, which calculates the ratio of buyers to sellers of Bitcoin (BTC) in Binance, “has returned to neutral territory,” CryptoQuant contributor DarkFost said in an April 15 note.

Bitcoin’s bullish momentum is “picking up again”

The ratio currently stands at 1.008. When the ratio is higher than 1, buyers — usually a bullish sentiment indicator — dominate volumes, conversely, a ratio below 1 indicates that sellers, or bearish sentiment, are dominating.

Bitcoin is trading at $83,810 at the time of publication. Source: CoinMarketCap

Bitcoin is trading at $83,810 at the time of publication, down 1.47% over the past seven days, <a data-ct-non-breakable="null" href="https://coinmarketcap.com/currencies/bitcoin/" rel="null"

UK lawmaker’s X account hacked to boost scam ‘House of Commons Coin’

The X account of UK Member of Parliament and Leader of the House of Commons, Lucy Powell, was hacked to promote a scam crypto token.

In a series of now-deleted posts on April 15, Powell’s X account shared links to a token called the House of Commons Coin (HOC), describing it as “a community driven digital currency.”

Source: Daniel Green

A member of Powell’s staff confirmed to the BBC that the account had been hacked and that “steps were taken quickly to secure the account and remove misleading posts.”

DEX Screener shows the HOC token saw limited interest from would-be investors, achieving a peak market cap of just over $24,000 shortly after the posts from Powell’s account.

The token has seen a total of 736 transactions and a trading volume of just $71,000.

While Powell hasn’t promoted a cryptocurrency before, it

Strive targets Intuit for Bitcoin buys after orange-pilling GameStop

Fresh from successfully convincing game retailer GameStop to add Bitcoin to its balance sheet, Strive Asset Management CEO Matt Cole has now set his sights on fintech firm Intuit to do the same.

Cole said in an April 14 open letter to Intuit CEO Sasan Goodarzi that Intuit’s growth is admirable, but Bitcoin (BTC) is the best way to ensure the company’s long-term success and hedge against any potential disruption caused by artificial intelligence.

Intuit’s flagship products are its tax preparation app TurboTax and the small business accounting software Quickbooks. The company laid off 10% of its staff in July to pursue its AI endeavors, but Cole said the firm needs an additional hedge because TurboTax is at risk of being automated away by AI.

“While we appreciate Intuit’s own investments and internal implementation of AI, we believe

Mantra CEO plans to burn team's tokens in bid to win community trust

Mantra CEO John Mullin said he is planning to burn all of his team’s tokens in order to win back the trust of the network’s community following the sudden collapse of the Mantra (OM) token on April 13.

“I’m planning to burn all of my team tokens and when we turn it around the community and investors can decide if I have earned it back,” Mullin posted to X on April 16.

Mantra set aside 300 million OM, 16.88% of the token’s nearly 1.78 billion total supply, for its team and core contributors that are currently locked and were scheduled to be released in stages between April 2027 and October 2029, according to an April 8 blog post.

The team’s tokens are worth around $236 million with OM currently trading around 78 cents, but were worth around $1.89 billion before the token sank