Samson Mow, a leading figure in cryptocurrency and head of the Bitcoin-focused Jan3, recently highlighted the resilience and upcoming potential of Bitcoin amidst market tremors. According to Mow, despite a sharp 13% drop in Bitcoin prices following unrest in the Middle East, the cryptocurrency quickly recovered nearly 9% of its value. His confidence remains unshaken as he anticipates the “Omega time” for Bitcoin, especially with the impending Bitcoin halving event, which he suggests could spark a significant supply shock.

Moreover, Mow emphasized the growing demand for Bitcoin, driven by the recent approval and launch of spot Bitcoin ETFs and Bitcoin-Ethereum exchange-traded funds in Hong Kong. He critiques the broader financial markets’ reaction to the halving, suggesting a lack of awareness that may lead to unnecessary panic. However, Mow reassures that any overreaction is temporary and foresees a bullish future for Bitcoin as it approaches a pivotal moment in its trajectory.

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Bitcoin, the leading cryptocurrency, has experienced significant price fluctuations, recently surging to $67,000 before dipping to $62,500. Despite this volatility, Bitcoin whales remain undeterred, consistently accumulating more of the currency. On-chain data from Santiment reveals that since March 1st, wallets holding between 100 to 1,000 BTC have added 43,489 coins to their collections, valued at approximately $2.75 billion. Larger holders, with 1,000 to 10,000 BTC, have acquired 80,544 coins worth around $5.10 billion, and the largest wallets, containing 10,000 to 100,000 BTC, have gathered 91,732 coins, totaling about $5.80 billion.

As the market gears up for the anticipated Bitcoin halving on April 19th, which historically tends to push prices higher by reducing the supply of new tokens, Bitcoin’s market dominance has soared to a three-year peak. Despite a cooling in Bitcoin ETFs demand, on-chain accumulation activities signal robust confidence among major investors, underlining Bitcoin’s enduring appeal and resilience in the face of market uncertainties and setting a bullish tone for its future prospects.

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$1M – $10M MarketCap:

1. Airbloc (ABL): 53%
2. BoringDAO (BORING): 12%
3. Trava Finance (TRAVA): 10%
4. VinuChain (VC): 6.1%
5. OrangeDX (O4DX): 6.1%

$10M – $100M MarketCap:

1. Railgun (RAIL): 112%
2. POGAI (POGAI): 31%
3. ONBUFF (ONIT): 22%
4. NvirWorld (NVIR): 22%
5. TrustSwap (SWAP): 21%

$100M – $1B MarketCap:

1. Core DAO (CORE): 20%
2. Guild of Guardians (GOG): 16%
3. Art de Finance (ADF): 9.7%
4. MATH (MATH): 5.6%
5. Ontology Gas (ONG): 4.1%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Bitcoin BTC/USD, although recovering from Saturday’s lows, settled in the red on Monday, as it pulled back below the $63,500 mark. Amid the volatility, economist and crypto skeptic Peter Schiff expressed skepticism regarding the apex crypto blasting off in line with predictions by some bulls.

What Happened: “If #BitcoinETFs are really going to send #Bitcoin to $100K or higher, why are all the Bitcoin-related equities in bear markets?” he said in a post on X, formerly Twitter. A financial asset is said to be in a bear market if it falls more than 20% from a recent high.

Schiff highlighted the down move in the following crypto-linked stocks.

Cryptocurrency exchange Coinbase Global,… Read more on Benzinga

OKX, a major player in the cryptocurrency exchange market, has announced the launch of X Layer, its innovative Ethereum-based zero-knowledge Layer 2 network. Officially rolled out Monday, X Layer, developed with Polygon’s Chain Development Kit, promises enhanced transaction efficiency and reduced costs while ensuring Ethereum network security. The network supports over 170 decentralized applications and is touted by OKX CMO Haider Rafique as the “highway infrastructure” for Web3, aimed at providing seamless and interoperable ecosystem experiences.

The launch represents a strategic expansion for OKX, which integrates its platform token to manage transaction fees on X Layer. This development is expected to significantly bolster user engagement by providing an easy onboarding pathway for OKX’s 50 million users worldwide, and facilitating a unified liquidity and user experience across multiple chains via its blockchain aggregation layer, AggLayer.

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Cardano, the eleventh-largest cryptocurrency by market capitalization, is making significant strides with its Plutus V2 smart contracts. Amid a stabilizing cryptocurrency market, Cardano has reported a substantial increase in smart contract activity. The total number of Plutus scripts on the network, including both V1 and V2 versions, has climbed to 41,743 as of April 14, marking a nearly 3% rise since April 1. Notably, the number of Plutus V2 scripts surged by 3.52% to 35,273, adding 1,211 new contracts in April alone.

This growth in Cardano’s smart contract functionality enhances its position as a major player in the competitive blockchain platform arena. With the broader market showing signs of stabilization, Cardano’s focus on advancing its smart contract capabilities could make it a key facilitator for decentralized applications and automated blockchain transactions, heralding a promising future for the crypto industry.

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Willy Woo, a prominent Bitcoin analyst, has made a striking prediction suggesting Bitcoin could eclipse the market capitalization of gold as Bitcoin Exchange Traded Funds (ETFs) begin to impact the market. Woo’s analysis points to Bitcoin reaching price milestones of $91,000 in bear markets and soaring to $650,000 during bull runs, contingent on full capital deployment by ETF investors. He bases his optimistic forecast on a potential $2 trillion inflow from asset managers, who currently recommend a 2% portfolio allocation to cryptocurrencies, indicating a major uplift in Bitcoin’s investment base from its current $561 million.

While these price targets hinge on extensive capital infusion, which Woo admits may not materialize in the current cycle, the historical precedent set by gold—whose market cap surged following its ETF approval—gives credence to Bitcoin’s potential ascent. Using market-to-volume (MVRV) ratios to project future valuations, Woo suggests that Bitcoin could achieve market caps of $12.8 trillion in bull markets and $1.8 trillion in bear scenarios. This forecast positions Bitcoin not just as a digital asset, but as a formidable competitor to traditional gold investments over the coming years.

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BIGCAP COINS:

1. Bitcoin: Market Cap of $1.2 Trillion.
2. Solana: Market Cap of $63.8 Billion.
3. Pepe: Market Cap of $2.1 Billion.

MIDCAP COINS:

1. IOTA: Market Cap of $735 Million.
2. BeFi Labs: Market Cap of $14.8 Million.
3. Ondo: Market Cap of $1.3 Billion.

RISING COINS:

1. Grok: Market Cap of $54.7 Million.
2. Railgun: Market Cap of $73.6 Million.
3. Pandora: Market Cap of $66.5 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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