Bitcoin Price Prediction as BTC Spikes Up 2% – Time to Buy?

Bitcoin showcased a notable increase of over 2%, hitting $67,500, stirring discussions on whether it’s the right time to buy. Concurrently, Ethena Labs has strategically reinforced USDe’s foundation by integrating Bitcoin into its collateral pool, aiming to boost the synthetic dollar’s liquidity and market stability.

This move, enhancing USDe’s $2 billion supply via the Bitcoin futures market, signals a significant shift towards stabilizing the cryptocurrency landscape and intertwining Bitcoin with the broader DeFi ecosystem.

Ethena Labs Enhances USDe Stability with Bitcoin Collateral Integration

Ethena Labs has bolstered the stability and liquidity of its synthetic dollar, USDe, by adding Bitcoin to its collateral mix. This strategic move, aimed at enhancing USDe’s $2 billion supply, taps into the Bitcoin futures market to ensure scalability and price stability through delta hedging.

This move not only prioritizes stability in fluctuating markets but also bridges Bitcoin with decentralized finance (DeFi), potentially broadening Bitcoin’s role beyond a mere store of value.

  • Key Points:
    • Bitcoin added to USDe collateral for enhanced liquidity and stability.
    • Aims to expand the $2 billion USDe supply using Bitcoin futures.
    • Strengthens the connection between Bitcoin and DeFi.

Bitcoin Rises 4.5% Amid Stock Decline After Hawkish Fed Comments

Bitcoin countered the market downturn, gaining 4.5% despite a late-session stock sell-off triggered by hawkish comments from Minneapolis Fed President Neel Kashkari.

Kashkari’s remarks, hinting at delayed rate cuts if inflation remains steady, stirred the market and contrasted with Fed Chair Jerome Powell’s earlier statements.

The employment report for March is anticipated to clarify the situation further. Bitcoin, which briefly fell below $65,000, rebounded in U.S. trading hours, reaching a high of $69,000 before settling at $68,750.

The broader crypto market also saw gains, with the CoinDesk 20 Index up 3.25%, though Ethereum lagged with a modest 1.75% increase.

Bitcoin’s resilience amidst stock market fluctuations underscores growing investor confidence and its appeal as a hedge against economic uncertainty.

Bitcoin Price Prediction

Bitcoin (BTC/USD)’s technical analysis indicates a turning point at $67,800, with potential resistance at $69,850 and $71,600, reaching up to $73,765.

Support levels are established at $65,585, with additional levels at $63,500 and $61,530.

With the Relative Strength Index (RSI) at 52 and a positive crossover at the 50-day Exponential Moving Average (EMA) set at $68,000, there are indications of an upward trend.

This technical setup points to the possibility of Bitcoin climbing towards $69,850 or beyond, confirming a bullish pattern above $67,700.

Unlock the Future of Gaming: Invest in 5thScape’s Revolutionary VR Platform Today

5thScape stands at the forefront of the virtual reality (VR) revolution, ushering in an era where the lines between digital and physical realms blur.

This pioneering platform is your gateway to unparalleled immersive gaming experiences, combining cutting-edge VR technology with the boundless imagination of its community.

This token unlocks exclusive access to premium VR content, enhancing your gaming experience and offering a unique way to engage with a growing digital economy.

  • Innovative Use of Cryptocurrency in VR: 5thScape leverages 5SCAPE Coin to facilitate secure, transparent transactions within its VR platform, redefining user engagement and investment in virtual worlds.
  • Expanding the Frontiers of Gaming: By offering a wide array of 3D VR games, from adventure to mystery, coupled with state-of-the-art VR headsets and ergonomic gaming chairs, 5thScape promises an unmatched gaming experience.
  • Empowering the Gaming Community: 5thScape is not just a platform; it’s a movement towards creating a dynamic, inclusive community where gamers can explore, interact, and grow together in immersive virtual landscapes.

Presale Now Live

The presale has already raised $2,773,607, with a target of $3,750,000. With the listing price projected at $0.01, reflecting a 303.23% increase from the presale price of $0.00248, the potential for growth and returns is substantial.

Whether you’re a seasoned gamer or new to the world of VR, 5thScape offers something for everyone. Don’t miss out on the opportunity to be at the forefront of the next big leap in gaming technology.

Get 5thScape Here

The post Bitcoin Price Prediction as BTC Spikes Up 2% – Time to Buy? appeared first on Cryptonews.

from Cryptonews

Post a Comment

Previous Post Next Post