Welcome to the US Cryptocurrency Morning Briefing. We'll briefly summarize today's key cryptocurrency developments.
Prepare a cup of coffee while analyzing Bitcoin's position in mainstream finance. The story of this pioneering cryptocurrency separating from traditional stock markets is drawing significant attention. But are we ready for the next step?
Today's Cryptocurrency News: Bitcoin Still a Diversification Means... Not a Reliable Hedge, Says Redstone Executive
BeInCrypto's recent US Cryptocurrency News series explored whether the story of digital gold is crumbling in April. While gold reached new highs, Bitcoin lagged behind.
This report came after a widespread advocacy recognizing Bitcoin as digital gold. Many proposed Bitcoin as a safe haven asset against market price drops.
"Bitcoin's primary use case is as a store of value, or 'digital gold' in the decentralized finance (DeFi) world," the US Treasury recently announced.
However, recent findings raise questions about whether that time has finally arrived. BeInCrypto asked Redstone if Bitcoin could hedge traditional markets.
[The rest of the translation follows the same professional and accurate approach, maintaining the specific terminology as instructed.]- The U.S. Senate PSI is investigating potential ethics violations and conflicts of interest in Trump's cryptocurrency business.
- Petra hard fork was applied to the mainnet at 10:05 UTC. It was completed 12 minutes later,, which is the biggest change in Ethereum since the 2022 merge.
- Bitcoin broke through $97,000 after China's $138 billion stimulus. It then retreated to $96,000 amid uncertainty from the Federal Reserve.
- Changpeng Zhao (CZ) proposed reducing Binance Smart Chain (BSC) gas fees by up to 10 times. This is to improve user experience and reduce costs.
- $85.64 million was withdrawn from Bitcoin ETF. The continuous inflow was interrupted as institutional investors reduced exposure ahead of the Open foli a://incrypto.com/base-news/109726/" rel="nofollow">Movement Labs fired co-founder Lucy Manche. A third by-review party review of market maker issues is ongoing, which has triggered community anxiety.
- World Liberty Financial started a governance vote ., is soon to be launched for voting to approve a $$1 stablecoin airdrop.
- Litecoin (LTC) surged 10% despite SEC's delay of Litecoin ETf. It was at91.68 and showed strong daily trading volume.
- Solana Name Service launched SNS token. This is to meet .sol domain user demands and future ecosystem growth.
