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Bitcoiners’ ‘bullish impulse’ on recession may be premature: 10x Research

It may be too early for Bitcoiners to start getting bullish over the longer-term impacts of a potential recession on Bitcoin’s price, says 10x Research head of research Markus Thielen.

Thielen said in an April 11 markets report that credit spreads continue to widen, indicating that “recessionary concerns may be seeping deeper into the economy.”

“Expecting a bullish impulse is too early,” he said.

Bitcoin may face short-term headwinds

While the long-term effects of a recession could be bullish for Bitcoin (BTC) — due to the monetary easing that typically follows US Federal Reserve rate cuts — Thielen warned that Bitcoin may face headwinds before gaining bullish momentum.

“Normally, Bitcoin first sells off when China devalues or the Fed cuts, as the first cut might not be so impactful and also confirms economic weakness,” Thielen told Cointelegraph.

Bitcoin is trading at $80,620 at the time of

Democrats slam DOJ’s ‘grave mistake’ in disbanding crypto crime unit

Crypto-critical US Senator Elizabeth Warren has led six Senate Democrats in urging the Department of Justice to reverse its decision to terminate its crypto investigations and prosecutions division.

In an April 10 letter to Deputy Attorney General Todd Blanche, the Senators said the decision to disband the department’s National Cryptocurrency Enforcement Team was a “grave mistake” that would support “sanctions evasion, drug trafficking, scams, and child sexual exploitation.”

Senators Richard Durbin, Mazie Hirono, Sheldon Whitehouse, Christopher Coons and Richard Blumenthal signed the letter in addition to Warren.

On April 7, Blanche shuttered the DOJ’s crypto enforcement team, saying in a memo that “The Department of Justice is not a digital assets regulator.”

The senators claim that the decision gave a “free pass to cryptocurrency money launderers” and claimed that crypto mixing services — used to obfuscate blockchain transactions — are “go-to tools for cybercriminals.”

“It

US crypto miners may rush to buy rigs in tariff pause despite ‘clear disadvantage’

US Bitcoin mining firms will try to capitalize on the Trump administration’s recent tariff pause by stocking up on mining rigs, but the baseline 10% tariffs will still leave the industry at a disadvantage, industry executives say.

President Donald Trump paused his administration’s hefty reciprocal tariffs until July 8, but kept a minimum 10% tariff on most countries bar China, which had its rate hiked to 145%.

Hashlabs CEO Jaran Mellerud told Cointelegraph that while the 10% levy is much lighter than the initial tariffs, US miners are still at a “clear disadvantage” when it comes to purchasing mining machines, compared to competitors abroad.

He said the baseline US tariffs aren’t enough “to make mining in the US unprofitable, but it definitely raises capital expenditure and will impact the long-term viability of new investments.”

“We expect to see a short-term spike in machine imports as miners rush to get

Crypto gaming has mixed Q1 as deals jump, investment totals dip: DappRadar

Blockchain gaming for the first quarter of 2025 has been a “mixed bag,” seeing a greater number of deals while the amount invested significantly dipped, says blockchain analytics platform DappRadar.

Web3 gaming projects raised $91 million in Q1 2025, marking a 71% decrease from the fourth quarter of 2024 and a 68% drop compared to the same quarter a year ago, DappRadar said in its April 10 State of Blockchain Gaming report.

DappRadar analyst Sara Gherghelas wrote the figures showed “the growing pressure on early-stage startups and hint that 2025 may prove more challenging than previous years — unless broader market conditions improve.”

Another factor for the drop in investments in blockchain games is investors are increasingly shifting toward real-world assets and artificial intelligence, according to Gherghelas.

Over the same time, the number of blockchain gaming-related deals that closed

NY attorney general urges Congress to keep pensions crypto-free — ‘No intrinsic value’

New York Attorney General Letitia James has sent a letter to US congressional leaders urging “common sense” federal crypto regulations and to keep digital assets out of US pensions.

“I am urging Congress to pass legislation that would strengthen federal regulations on the cryptocurrency industry to protect investors, strengthen financial markets, and stop fraud,” James said in a 14-page letter shared on April 10, outlining six major risks if the sector remains unregulated.

She said that without appropriate safeguards, the “unchecked proliferation of digital assets” undermines US dollar dominance, weakens national security due to criminal activity, and “undermines the stability of financial markets.”

Unregulated crypto also subjects investors to “price manipulation and rigged markets,” facilitates fraud that “drains billions of dollars from hardworking Americans, and extracts assets and investments from the American economy,” she said.

An excerpt of James’

Bitcoin may hit a wall at $84K if bullish conditions don’t pick up: CryptoQuant

Bitcoin could hover in the low $80,000s in the near term if it fails to break through its next resistance level, CryptoQuant says, while other analysts predict the cryptocurrency will hit a fresh all-time high within the next two months.

CryptoQuant analysts said in an April 10 markets report that if Bitcoin (BTC) “continues to rally,” it could hit resistance around the $84,000 price level, but if it breaks through, it could soar before its next resistance level of $96,000.

Bitcoin’s previous support levels are now resistance

“These price levels have acted as price support during this bull cycle but can now act as price resistance if bullish conditions don’t continue to improve,” CryptoQuant said in its report. “This has been the case in past bearish cycles.”

Bitcoin was trading at $79,474 at the time of publication, down 3.5% over the past day, according

Fartcoin rallies 104% in a week — Will Solana (SOL) price catch up?

Solana-based memecoin Fartcoin (FARTCOIN) has outperformed the broader crypto market so far in April, rising over 104% versus SOL being down 2% for the week. As of April 10, it was trading for as high as $0.87.

FARTCOIN/USD vs. TOTAL crypto market cap 30-day performance. Source: TradingView

The cryptocurrency’s outperformance appears despite US President Donald Trump’s seesaw tariff announcements that have wiped nearly $160 billion from the crypto market capitalization in April.

FARTCOIN has outperformed even other memecoins inside the Solana ecosystem, the primary being Official Trump (TRUMP), which has dropped by approximately 25% in April.

As it seems, the third-largest Solana memecoin could rise another 30% in April due to a classic bullish continuation setup.

FARTCOIN bull flag hints a new highs

FARTCOIN’s bullish technical outlook arises from its prevailing bull flag setup.

On April

Bitcoin reserve bills advance in New Hampshire, Florida

New Hampshire’s House and Florida’s House insurance and banking committee have respectively advanced bills allowing their states to create Bitcoin reserves.

New Hampshire’s House passed its Bitcoin reserve bill, HB302, in a 192-179 vote on April 10 which will now head to the Senate. The state is now the fourth to pass a Bitcoin (BTC) reserve bill through one chamber, joining Arizona, Texas and Oklahoma.

If HB302 clears New Hampshire’s Senate and Governor Kelly Ayotte signs it into law it would allow the state’s treasurer to use 10% of the state’s general fund and other authorized funds to invest in precious metals and certain digital assets. The bill also sets out how they should be custodied.

The bill specifies that only cryptocurrencies with a market capitalization of over $500 billion would be eligible for investment, a criteria that

SEC staff gives guidance on how securities laws could apply to crypto

US Securities and Exchange Commission staff have given guidance on how federal securities laws could apply to crypto, saying companies issuing or dealing with tokens that could be securities should give better details about their business.

The SEC’s Division of Corporation Finance said in a staff statement on April 10 that it was giving its views “to provide greater clarity on the application of the federal securities laws to crypto assets.”

The Division said its statement was made of observations of disclosures given in existing disclosure requirements and “addresses our views about certain specific disclosure questions that market participants have presented to the staff.”

The guidance, which the Division noted had “no legal force or effect,” said crypto companies who are giving disclosures about their business have typically shared a host of information about their operations, such as what the company specifically does, how any issued tokens work

Trump signs resolution killing IRS DeFi broker rule

US President Donald Trump on April 10 signed a joint Congressional resolution overturning a Biden-era rule that requires decentralized finance (DeFi) protocols to report to the country’s tax authority, the Internal Revenue Service.

The rule would have required DeFi platforms, such as decentralized exchanges, to file their gross proceeds from crypto sales and include information on those involved in the transactions.

Trump was widely expected to sign the bill, as White House AI and crypto czar David Sacks said in March that the president would support killing the measure.

This is a developing story, and further information will be added as it becomes available.