BTC Finally Recovers
Bitcoin witnessed a notable recovery rally this week, surging in response to April’s Consumer Price Index (CPI) meeting expectations. The rally coincided with increased inflows into Bitcoin Exchange-Traded Funds (ETFs), signaling growing investor interest in macroeconomic factors.
ETH ETF Speculation Intensifies
The debate surrounding the potential approval or rejection of spot Ethereum ETFs by the Securities and Exchange Commission (SEC) reached a fever pitch. With a decision expected this Thursday, speculation on market impact continues, and stakeholders are closely monitoring developments.
Tether Faces Regulatory Scrutiny
Tether, the issuer of the largest stablecoin USDT, faced allegations from Ripple’s CEO regarding US government scrutiny. Concerns heightened as Tether printed $1 billion USDT, prompting discussions on its regulatory compliance. Additionally, Kraken is contemplating delisting USDT in the EU amid regulatory uncertainties.
China Injects Stimulus Amid Housing Market Concerns
China embarked on a significant stimulus effort to stabilize its housing market, injecting liquidity and implementing measures to prevent a collapse. Given China’s influence on global economic dynamics, this move raised questions about potential implications for the broader crypto market.
Top Performers Shine Amid Market Volatility
Several cryptos, including Phantom, Chainlink, Bonk, and Solana, experienced notable price gains. Project updates, strategic partnerships, and favorable market sentiment contributed to their performance.
