Benzinga - by Benzinga Insights, Benzinga Staff Writer.

Over the past 24 hours, Injective's (CRYPTO: INJ) price has risen 4.72% to $34.11. This is contrary to its negative trend over the past week where it has experienced a 9.0% loss, moving from $37.59 to its current price. As it stands right now, the coin's all-time high is $52.62.

The chart below compares the price movement and volatility for Injective over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has fallen 14.0% over the past week which is opposite, directionally, with the overall circulating supply of the coin, which has increased 1.23%. This brings the circulating supply to 88.89 million. According to our data, the current market cap ranking for INJ is #44 at $3.02 billion.

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Cryptocurrency Injective Up More Than 4% In 24 hours - Investing.com UK

The cryptocurrency market has an equal number of tales to tell of the profits and losses that investors experience every day. During the bear market, the losses outnumber the profits and during the bull market, the vice versa occurs. While some make millions, the others turn pauper at the same period. Each shoe fits differently in the cryptocurrency market. However, meme coins have brought hope and luck to the cryptocurrency market as investors believe they can either make it or break it.

Also Read: BTC: Bitcoin Predicted To Reach $100,000 in September 2024

A cryptocurrency investor purchased the new meme coin DogWifHat (WIF) for $5,000 during its launch in mid-December 2023. WIF was trading at a nominal and affordable price of just $0.004 four months ago. However, the DogWifHat meme coin began to rally hard this year deleting all its zeroes and breaching the $3 mark.

Also Read: Ripple: XRP Forecasted To Rise 15 Cents, Reach $0.79

The rally was prime to generate the investor millions of dollars in just four months. Nonetheless, the cryptocurrency investor did not taste success and failed to turn into a millionaire as he sold the meme coin after its first rally.

Yes, right after the first rally, the cryptocurrency investor sold meme coin WIF for $2,000 in profits cashing out $7,000. While he considered it a genius move, what came next shocked the living life out of him.

Also Read: VeChain Cryptocurrency: Can VET Deliver Profits in April 2024?

Meme coin DogWifHat rallied hard and the same $5,000 investment could have been worth $12 million today. All these profits could have been attainted in just four months of investing but the investor sold early and missed earning $12 million.

I put $5k into WIF, sold for $7k thinking I was a genius. My bag would be worth $12 million + right now. I lost over $100k trying find the next WIF. I am ruined.

I put $5,000 into WIF (DogWifHat), sold for $7,000 thinking I was a genius. My bag would be worth $12 million right now. I lost over $100,000 trying find the next WIF. I am ruined, wrote the anonymous investor on the Coinfessions Twitter page.

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Cryptocurrency: Man Misses Earning $12 Million in Meme Coin - Watcher Guru

Meet the 17 investors and entrepreneurs who made ten-digit fortunes on the blockchain. By John Hyatt, Forbes Staff

The crypto winter is over. Bitcoin has more than doubled over the past 12 months, hitting an all-time high of $73,000 in March after the U.S. legalized bitcoin-pegged exchange-traded funds. The total value of all outstanding cryptocurrencies increased by 170%, adding some $1.6 trillion in market value over the past 12 months, according to CoinGecko.

Thats helped make at least 17 people crypto billionaires, according to Forbes 2024 Worlds Billionaires list, up from nine crypto billionaires last year. These 17 investors and entrepreneurs are worth a collective $93 billion, between their estimated crypto asset holdings, publicly disclosed stock holdings and private assets. Thats more than double the $37 billion in collective crypto billionaire wealth last year.

For the third year running, Changpeng Zhao, founder and former CEO of crypto exchange Binance, is cryptos wealthiest person. Despite pleading guilty to U.S. money laundering charges in November, CZ, as hes known, is now worth an estimated $33 billion, up from $10.5 billion last year. That makes him the biggest crypto gainer in dollar terms since last year and the 50th-wealthiest person in the world. The bulk of his fortune comes from his majority stake in Binance, which remains the industrys largest global trading venue by volume.

Two of this years biggest gainers can thank investors in their publicly traded companies. Michael Saylor, CEO of MicroStrategy, a software firm that has made heavy investments in bitcoin, is now worth an estimated $4.4 billion, compared to $760 million last year. Brian Armstrong, CEO of crypto exchange Coinbase, is worth an estimated $11.2 billion, up from just $2.2 billion last year. Shares of Coinbase and MicroStrategy are each up more than fourfold over the past 12 months.

Making their debut on Forbes annual billionaires ranking are Giancarlo Devasini, Paolo Ardoino, Jean-Louis van der Velde and Stuart Hoegner, four large shareholders of Tether, a controversial but wildly profitable stablecoin issuer. Cryptos three-comma club also includes familiar faces like the Winklevoss twins (of Facebook fame), venture capitalist and Nikki Haley booster Tim Draper, and Ripple cofounder and budding space entrepreneur Jed McCaleb.

The two Stanford alumni cofounded Alchemy, a Web3 infrastructure provider whose developer suite powers crypto and blockchain projects, in 2020. Investors valued Alchemy at more than $10 billion in early 2022. Today the company is worth about $5.6 billion, based on secondary sales of private shares tracked by data provider Notice.co.

Draper is a venture capitalist and early Bitcoin investor. In 2014, he bought 29,656 bitcoins confiscated by U.S. Marshals from the shuttered Silk Road black market for $18.7 million, or $632 per coin. They are now worth $2 billion. He has also made dozens of VC investments in companies ranging from Tesla to Theranos.

Stuart Hoegner has served as general counsel for Tether and its sister company Bitfinex since 2014, and he holds an estimated 13% stake. A Canadian certified accountant, Hoegner began his career at Ernst & Young before starting Gaming Counsel Professional Corporation, a boutique law practice that catered to online gambling and cryptocurrency clients. He was also previously a director of compliance and deputy general counsel at Excapsa Software, an online poker company that became embroiled in a software-facilitated cheating scandal.

Tether has been accused of facilitating money laundering for terrorist groups and criminal organizations, including human trafficking rings that run Pig Butchering crypto scams. (Tether says it follows stringent Know Your Customer and Anti-Money Laundering protocols and remains committed to expeditiously working with law enforcement to identify criminal activity.) In 2021, Tether and its sister company Bitfinex paid $18.5 million to settle fraud charges with the New York Attorney Generals office, which alleged Tether had overstated its cash reserves.

An early bitcoin investor, Novogratz heads crypto investment firm and merchant bank Galaxy Digital Holdings, which trades on the Toronto Stock Exchange and has about $6 billion in assets under management. His stake in the company is worth about $2 billion. Prior to his career in crypto, Novogratz worked on Wall Street. He spent a decade at Goldman Sachs and then led a macro-focused fund for private equity firm Fortress Investment Group, later becoming the firms president.

The Winklevoss twins, notorious for their dispute with Mark Zuckerberg over Facebooks founding (as depicted in the 2010 movie The Social Network), have most of their wealth tied up in bitcoin, which they first bought in 2013, and are believed to have large stashes of ethereum and Filecoin as well. The Winklevii also control 75% of Gemini, the crypto exchange they founded together, which aims to compete with the likes of Coinbase and Binance. Outside investors last valued Gemini at over $7 billion in 2021, but Forbes now estimates that Gemini is worth less than $1 billion because its trading volumes have plummeted amid investor and government lawsuits stemming from the 2022 collapse of its interest-bearing program, Gemini Earn.

Another early crypto pioneer, McCaleb created Mt. Gox, the first major bitcoin exchange, in 2010. He sold it a year later, before it was infamously hacked. Next, McCaleb cofounded Ripple in 2012, but soon left over disagreements with fellow founders. Most of his wealth comes from selling much of the original 9 billion XRP he pocketed as a Ripple cofounder. He sold the last of his coins in 2022. (McCaleb also founded Stellar, a Ripple competitor, in 2014.) These days, he spends his time and financial resources on Vast, a space exploration company that hes backing.

An early investor in bitcoin, Roszak made his first purchases in 2010. Most of his wealth comes from early bets on cryptocurrencies, including ethereum and BNB, Binances native token. Roszak also runs Bloq, a blockchain startup that invests in other crypto ventures and consults on projects.

Ehrsam founded cryptocurrency exchange Coinbase in 2012 with Brian Armstrong. He left the company in 2017 but remains on the board and still owns about 5% of its stock. In 2018, he cofounded Paradigm, a cryptocurrency investment firm, which now has more than $8 billion in assets under management.

Coinbase generated $2.9 billion of revenue last year, down from $3.1 billion in 2022 and $7.8 billion in 2021, the last time crypto prices spiked. But the company has returned to profitability, generating net income of $100 million, compared to a $2.6 billion net loss in 2022.

Larsen cofounded Ripple in 2012 to facilitate international payments using the XRP cryptocurrency. He stepped down as Ripple CEO in late 2016 but remains executive chairman. He holds an 18% stake in Ripple, which investors value at $3.8 billion, according to recent secondary market data shared with Forbes. He also has a sizable stash of XRPover 2.8 billion tokensand nearly $1 billion of cash and investments, per Forbes estimates, largely from prior XRP sales.

As Tethers former CEO, van der Velde operates as a figurehead responsible for maintaining Tethers high-level strategic relationships with banks and regulators, and owns an estimated 20% of the company. He left the Netherlands in 1985 to attend university in Taiwan, and subsequently cofounded several IT and tech startups in Asia before joining Tether. He lives in Hong Kong.

Ardoino serves as Tethers CEO, its public face and owns an estimated 20% of the company. He joined Tethers sister company, Bitfinex, as a senior software developer in 2014. Ardoino previously worked in startups as a computer programmer.

Saylor is the biggest crypto billionaire gainer, in percentage terms, on this years list. Shares of MicroStrategy, the software firm Saylor started in the 1990s and refashioned into a bitcoin investment vehicle in recent years, are up nearly 500% from last year. The company now owns about 193,000 bitcoins, making it the largest corporate holder of bitcoin in the world, according to its CFO.

Then theres Saylors personal bitcoin stashSaylor said in 2021 he holds 17,732 bitcoins that he bought at an average price of $9,882 per coinand he is in the process of cashing out about $200 million of MicroStrategy stock, which he announced at the beginning of the year.

Devasini is the CFO and likely the largest individual shareholder of Tether, cryptos largest issuer of stablecoinsa form of cryptocurrency that is pegged to the U.S. dollar or other hard currency and used as a medium of exchange. Over 100 billion Tether tokens have been minted. Buoyed by higher interest rates, Tether generated $6.2 billion in profit last year from the interest it generates on customers collateral. Devasini owns an estimated 47% stake in Tether, which Forbes values by applying the average price-to-earnings multiples of a group of publicly traded mid-tier banks and asset managers.

Armstrong, who cofounded Coinbase in 2013 with Fred Ehrsam, is the companys largest individual shareholder, with an 18% stake. The crypto exchanges stock is up 50% year-to-date, and over three-fold since last year, giving it a market capitalization of nearly $60 billion. Since November, Armstrong has sold more than $170 million worth of Coinbase stock through an automated 10b5-1 trading plan.

Zhao, who goes by CZ, agreed to personally pay $200 million in fines last year to settle federal money laundering charges brought by the Department of Justice and the Commodity Futures Trading Commission. (Binance agreed to pay an additional $4.5 billion.) He also agreed to step down as CEO of crypto exchange Binance and is barred from involvement with Binance for three years as part of his guilty plea. (Zhaos sentencing hearing is scheduled for April 30). Yet it hardly left a dent in his fortune. His stake in Binanceestimated to be 90%, based on corporate documents and conversations with former employeesis worth some $32.5 billion.

Binance remains the largest crypto exchange in the world by trading volume, generating an estimated $9 billion of revenue last year, according to Forbes analysis. To estimate Binances market value, Forbes applied the price-to-sales multiple of Coinbase, a publicly traded peer, then applied further discounts to account for Binances concentrated ownership, the possibility of further regulatory enforcement and key-man risks following CZs departure.

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The Richest Crypto And Bitcoin Billionaires In The World 2024 - Forbes

April 3, 2024 11:02 AM | 1 min read |

Cronos's (CRYPTO: CRO) price has increased 8.81% over the past 24 hours to $0.15. Over the past week, CRO has experienced an uptick of over 2.0%, moving from $0.15 to its current price. As it stands right now, the coin's all-time high is $0.97.

The chart below compares the price movement and volatility for Cronos over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

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The trading volume for the coin has risen 2.0% over the past week diverging from the circulating supply of the coin, which has decreased 1.74%. This brings the circulating supply to 26.63 billion. According to our data, the current market cap ranking for CRO is #31 at $4.11 billion.

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2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrency Cronos's Price Increased More Than 8% Within 24 hours - Benzinga

April 3, 2024 11:01 AM | 1 min read |

Over the past 24 hours, Stacks's (CRYPTO: STX) price has fallen 6.74% to $3.26. This continues its negative trend over the past week where it has experienced a 3.0% loss, moving from $3.38 to its current price.

The chart below compares the price movement and volatility for Stacks over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

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Stacks's trading volume has climbed 13.0% over the past week along with the circulating supply of the coin, which has increased 0.02%. This brings the circulating supply to 1.45 billion, which makes up an estimated 79.83% of its max supply of 1.82 billion. According to our data, the current market cap ranking for STX is #27 at $4.73 billion.

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2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrency Stacks Down More Than 6% Within 24 hours - Benzinga

Cryptocurrency trader Larp von Trier is making waves in the crypto community by turning 0.1 ETH, worth $353, into a whopping $8.39 million. The portfolios value has risen by about 2376670.54% (2.3 million percent), or a gain of 23,770x.

Also Read: Solana Surge: Trader Turns 50 SOL into $531K in Just 48 Hours!

According to crypto analysis firm LookOnChain, the trader took to X on Mar. 27, 2024, and said he was looking for Base gems with a market cap below $5k.

Also Read: Dogwifhat Sends Traders Profits Soaring to $1Million in 3 Weeks

The first token he purchased was Keyboard Cat (KEYCAT). At the time of purchase, the asset was online for only two days, with a market cap of just $2.2k. The trader bought 1.3 billion KEYCAT tokens, which amounted to 13.16% of the supply. The cryptocurrency trader sold 344.7 million KEYCAT tokens for 497 ETH, worth around $1.75 million, via two wallets.

The trader still holds 971.2 million KEYCAT, about 9.71% of the total supply, across six different wallets. As of now, the value of the holdings is about $6.6 million.

LookOnChain notes that Larp von Trier is also an Ethereum (ETH) gem hunter. However, the platform highlights that the cryptocurrency trader might not be making much money trading memecoin on the Ethereum network.

Also Read: Ripple XRP: Trader Turns $20,000 Into $1.7 Million, 8400% Profit

Keyboard Cat (KEYCAT) is a new cryptocurrency on the BASE network. The asset is currently up by 60.3% in the daily charts and 11.6% in the last hour.

Assets with small market caps, like KEYCAT, are plenty. However, such projects could fall victim to pump-and-dump schemes, leading to investors losing their investments. New investors should exercise caution while putting their money into such projects.

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Cryptocurrency Trader Turns $353 Into $8.3 Million in 6 Days - Watcher Guru

BlockDAGs recent whitepaper release has sent a wave of anticipation through the cryptocurrency community, showcasing a staggering 20,000% ROI potential that has captivated investors imaginations. This enthusiastic announcement has spotlighted BlockDAG and also brought renewed interest to other significant players like OKB, whose allure in the market is being reevaluated, and ThorChain, known for its unique market dynamics. As investors and enthusiasts delve into the details of BlockDAGs innovative approach, the broader implications for the crypto ecosystem are becoming apparent, highlighting a period of vibrant activity and strategic repositioning within the industry.

BlockDAGs presale has gone on to shatter records, with its success celebrated through a memorable showcase at the Las Vegas Sphere and the unveiling of its latest technical whitepaper V2. Meanwhile, other significant developments in the crypto market include ThorChains price resistance and notable investors like OKB showing interest in BlockDAG.

OKB investors demonstrate a strong interest in diversified crypto platforms, indicating a thriving market for tokens with robust utility and community backing. Reports suggest that OKB and other major investors have been drawn to the BlockDAG presale, underscoring the increasing demand for unique, utility-driven crypto projects.

As OKB maintains price stability and its investors explore opportunities in high-potential crypto presales, it continues to assert its position among the market leaders, navigating through crypto trends with strategic investments.

ThorChain (RUNE), renowned for enabling cross-chain liquidity pools without wrapped tokens, attracts investors seeking high ROI opportunities. Despite market fluctuations, ThorChain remains a vital component of decentralised finance (DeFi), indicating potential growth as the DeFi sector expands. ThorChains commitment to innovation positions it as a significant asset for investors eyeing top cryptocurrencies.

BlockDAGs latest technical whitepaper launch and presale success were commemorated with a striking presence at the Las Vegas Sphere, showcasing the projects global outreach and commitment to merging technology with sustainability. With a presale exceeding $12.4 million and miner sales surpassing $2 million, experts foresee BlockDAGs potential returns reaching up to 20,000x.

Distinguished by its focus on high transaction throughput (10,000-15,000 TPS) and environmental sustainability, BlockDAG sets a new industry standard with its unique blend of Directed Acyclic Graph (DAG) and Proof-of-Work (PoW) mechanisms. This approach appeals to both eco-conscious investors and those seeking high ROI opportunities, ensuring a robust, trustworthy network while promoting transaction integrity.

BlockDAGs transparent communication, exemplified by its forthcoming technical whitepaper, fosters collaboration and trust, demonstrating a model for cryptocurrencies to drive financial and ecological value. With dynamic community involvement and incentives like a 10% referral bonus, BlockDAG adopts a sustainable growth strategy, attracting investors and fostering a loyal user base.

In the quest for the next explosive cryptocurrency, BlockDAG emerges as a strong contender, offering high returns alongside environmental responsibility. While OKB focuses on market presence and ThorChain on infrastructural innovation, BlockDAG stands out with its potential to generate substantial wealth for its community while championing a greener crypto future. Investors and enthusiasts seeking both financial and ecological impact can benefit from BlockDAGs potential 20,000x returns at launch.

Join BlockDAGs presale now and be part of the future of cryptocurrency. Act now as prices keep increasing.

Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.

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BlockDAG vs OKB vs ThorChain: Exploring the Next Explosive Cryptocurrency - Crypto Reporter

Cryptocurrency markets were trading higher in Friday's trade, led by Bitcoin, Ethereum, Solana, and Dogecoin. Meanwhile, the global cryptocurrency market cap surged 1.8% to around $2.65 trillion in the last 24 hours.

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"Over the past 24 hours, Bitcoin has experienced relatively stable price movement, consolidating around the $70,400 mark. However, Bitcoin's trading volume has decreased by approximately 20%. The next resistance level for Bitcoin is at $71,855, with the next support level at $69,231," said Edul Patel, CEO of Mudrex.

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In today's session, Dogecoin emerged as the top performer among the leading crypto tokens, surging by 9.2% to reach $0.20.

"Technical analysis shows that DOGEs performance could be attributed to a prolonged reversal, with a flattened-out bottom. We can expect a strong support around $0.15 with resistance at $0.21," said Parth Chaturvedi, Investments Lead, CoinSwitch Ventures.

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A judge said Thursday that federal sentencing guidelines call for former crypto mogul Sam Bankman-Fried to spend the rest of his life in prison, but he'll order a sentence of less than life once he decides the penalty Bankman-Fried must pay for his role in the 2022 collapse of FTX, once one of the world's most popular platforms for trading digital currency.

(With inputs from agencies)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Cryptocurrency Price on March 29: Bitcoin trades above $70,000; Dogecoin jumps over 9% - The Economic Times

Table of Contents

Centralized cryptocurrency exchange Crypto.com announced the launch of its crypto trading app in South Korea. The app launches on April 29, granting users access to over 150 cryptocurrencies.

Crypto.com announced on April 2 that it will launch the Crypto.com trading app in South Korea, allowing retail users to trade in select cryptocurrencies. On April 29, retail customers can open crypto trading accounts on the app and access over 150 cryptocurrencies.

Centralized cryptocurrency exchange Crypto.com announced it will launch its crypto trading app in South Korea. Starting April 29, retail investors will have access to over 150 cryptocurrencies and NFTs. According to the exchange, its users will have access to exclusive NFT projects via Crypto.com NFT, educational and resource materials via Crypto.com University, as well as industry-leading users benefits and rewards offerings.

Eric Azani, CEO and president of Crypto.com, said:

We are incredibly excited to be launching the Crypto.com App for retail users in South Korea a market of tremendous importance to the growth of our business, and one in which consumers are very interested in crypto. South Korean regulators are thoughtfully advancing the sector and we look forward to continuing to collaborate with them to help grow the industry responsibly.

The exchanges announcement is significant as the South Korean government has increased its scrutiny of the crypto industry over recent months and introduced several guidelines for crypto users and investors to adhere to.

The Virtual Asset Investor Protection Act is expected to be enacted in July 2024 and is set to confer additional responsibilities on crypto exchanges regarding the protection of customer assets. If passed, the Act will mandate exchanges to maintain 80% of user funds or an equivalent amount in cold wallets. The Act also introduces new accounting guidelines requiring local crypto firms to disclose their holdings.

After the US Securities and Exchange Commission (SEC) approved 11 spot bitcoin exchange-traded funds (ETFs), South Korea reiterated its ban on crypto ETFs. In a bid to increase government transparency and trust, the countrys Ministry of Personnel Management announced that 5,800 public officials must disclose their property details, including crypto holdings.

The increase in regulatory oversight led Huobi Korea to terminate its operations on January 29, 2024.

Despite the government crackdown on the crypto industry, Crypto.com will advance as planned. The exchanges new platform will take over from crypto exchange OK-Bit, which the company acquired in 2022. OK-Bits services cease on April 29 as Crypto.coms app launches.

The app will exclusively serve retail customers as institutional crypto investment was banned in 2017. South Korea does not recognize cryptocurrencies as financial assets and prohibits South Korean institutions from investing in the industry.

According to Crypto.coms announcement, the exchange said it would continue to consult with regulatory authorities to ensure compliance with local laws and regulations.

Patrick Yoon, General Manager of Crypto.com South Korea, commented on the launch, sharing his excitement:

South Korean crypto enthusiasts are highly engaged with the market and eager for more comprehensive and regulated Web3 products and services. We spent significant time and resources tailoring our offering for this market and are honoured to be the first and largest global cryptocurrency exchange to launch in South Korea.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto.com to Launch Cryptocurrency Trading App in South Korea - CryptoDaily

Gold has a chance to charge ahead of bitcoin as the flagship cryptocurrency hovers around the $70,000 level, according to Wolfe Research. The yellow metal and its digital counterpart have been trading in tandem with each other for the past month, with both reaching new records even as the stock market trades near its highs. However, bitcoin has also been mirroring its own moves from 2021, when the cryptocurrency rocketed twice to all-time highs, just before a deep pullback. "Bitcoin has historically traded like more of a 'risk asset' and often is where excess liquidity has found a home for the retail investor (see 2021)," Wolfe's managing director Rob Ginsberg said in a note Wednesday. BTC.CM= @GC.1 1M mountain Bitcoin and gold have been rallying alongside each other this month, even with stocks reaching new highs "The similarities to that time frame are undeniable, but does the same fate await it? While we definitely aren't calling for a 50% correction like we saw then, it would not shock us to see bitcoin continue to stall out north of $70,000," he added. Gold may fare better, however. "The gold vs. bitcoin ratio is nearing support while oversold on a weekly basis," said Ginsberg. "If our feeling on bitcoin is correct, and it continues to consolidate in this $60,000$73,000 region, it may provide a good opportunity for gold to start outperforming." Bitcoin hit an all-time high of $73,679 on March 14 before sliding as low as about $60,800 last week as traders digested the run. It has since returned to its highs and looks ready to reaccelerate, Ginsberg said, although selling pressure "has historically come on strong above $70,000." Bitcoin's "digital gold" narrative has been back in play for about a year after the cryptocurrency's correlation with stocks fell drastically in March 2023. The flagship crypto'srally this year was initially catalyzed by demand expected from the approval of spot bitcoin exchange-traded funds in the U.S., plus the price shock it is expected to experience soon after the late-April bitcoin halving .

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Wolfe Research: Gold could start to overtake bitcoin - CNBC