Top Stories This Week

FTX EU launches withdrawal website to pay back European users

The European arm of FTX has launched a website to allow customers in Europe to submit withdrawal requests. It comes nearly five months after the global trading platform collapsed and went bankrupt in early November. Meanwhile, in the United States, lawyers for former CEO Sam Bankman-Fried have entered a not-guilty plea for five additional charges, including accusations of bribery in China. On bail since being turned over to U.S. custody from the Bahamas, Bankman-Fried is now prohibited from using any smartphone with internet access as part of a new court agreement.

Tesla CEO Elon Musk and Apple co-founder Steve Wozniak were signatories on an open letter signed by more than 2,600 tech industry leaders and researchers calling for a temporary halt on any further artificial intelligence (AI) development. The petition shared concerns that AI with human-competitive intelligence can pose serious hazards to society and mankind. It urged all AI firms to “immediately cease” developing AI systems that are more potent than GPT-4 for at least six months. Although supported…

Read more at cointelegraph.com

Developers are now allowed to fork Uniswap v3 protocol as its Business Source License (BSL) expired on April 1, shows the protocol documentation. The expiration was a much-anticipated event within the DeFi ecosystem, as it enables developers to deploy their own decentralized exchange (DEX). 

The BSL is a type of license meant to last for a determinate period before becoming completely open source. In general, the purpose is to protect the author’s right to profit from their creations. Uniswap v3’s license was released in 2021 for a period of two years, preventing its code from commercial use. A new license called General Public License applies to the protocol now.

To fork the code, developers will be required an Additional Use Grant, a production exemption meant to accommodate both the needs of open-source and commercial developers.

Uniswap is a widely utilized decentralized exchange, considered the biggest automated market maker (AMM) in DeFi space, providing a platform where token creators, traders, and liquidity providers to swap tokens. Its token UNI (UNI) is a popular way for investors to gain…

Read more at cointelegraph.com

Crypto ATMs on decline despite growing global Bitcoin adoption  ForexTV.com
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Crypto ATMs on decline despite growing global Bitcoin adoption …  Cryptopolitan

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FTX EU Launches New Website for Withdrawals as Subsidiary …  Bitcoin News
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AI has a role to play in detecting fake NFTs By Cointelegraph  Investing.com

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Bitcoin’s price has been stuck in a tight static range between $25K and $30K, consolidating without a clear direction. It must break out of this critical range to determine its future direction.

Technical Analysis

By Shayan

Daily Chart

Bitcoin’s price has formed an ascending channel on the daily timeframe and is attempting to surpass the upper trendline. However, the channel’s upper boundary roughly aligns with the major resistance region of $30K, creating a robust barrier in Bitcoin’s path.

On the other hand, the $25K crucial support region aligns with the 50-day moving average and the channel’s middle boundary, providing significant support to the price.

Considering all of this, the price is currently stuck between the significant support region of $25K and the substantial resistance at $30K. A breakout from this range would potentially eliminate the uncertainty and provide a bias for cryptocurrency.

4-Hour Chart

While Bitcoin’s price has consolidated within the $30K and $25K range, it attempted to surpass the $29K level three times, but each attempt failed, resulting in an ascending triangle pattern. If the price drops below the lower trendline, a decline toward the $25K level is imminent.

On the other hand, if the price manages to break out from the upper trendline, a spike towards the critical $30K level and a possible breakout could occur. However, future price action and breakout from the current range will determine Bitcoin’s overall situation in the mid-term.

On-chain Analysis

By Edris

Bitcoin’s price has been rising since the beginning of 2023, and many investors are getting back in profit. The Net Unrealized Profit/Loss (NUPL) metric, which is demonstrated on the chart, shows the difference between market cap and realized cap divided by market cap.

Assuming that the latest movement is the result of a purchase, NUPL indicates the total amount of profit/loss in all the coins…

Read more at cryptopotato.com

Tron (TRX) Founder Justin Sun Announces Plans To Return to Crypto World As Regulator  The Daily Hodl
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Ethereum Classic (ETC) price has a bullish catalyst in April  InvestorsObserver
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US crypto crackdown boosts Hong Kong’s DeFi ambitions – WSJ …  Cryptopolitan
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