Bitcoin dipped below US$45k after the European Parliament voted to clamp down on crypto privacy yesterday, but is finding support back above that level as we head to the weekend.

And despite the negative regulation news from Europe being a potential industry setback, several analysts are predicting a bullish month ahead.

That’s partly based on historically strong April market performance for Bitcoin, as well as recent positive sentiment and the massive Bitcoin 2022 Miami event happening about five days from now.

As we highlighted earlier today, Jack Mallers, CEO of Bitcoin Lightning Network payments app Strike, will be delivering a keynote speech at the event, and the rumour is he could have something juicy to reveal.

Meanwhile, it’s April Fool’s Day, and crypto Twitter sure knows it…

Nice inverted chart from technical analyst “Crypto Rover”…

And a decent comeback from “Scotty Solana” here…

 

Meanwhile, Canadian venture capitalist Adam Cochran is clearly no Cardano fan…

… although rapper Snoop Dogg clearly doesn’t mind it, judging by his new collaboration with Cardano NFT project Clay Nation. (And that one’s a day old, so guess it must be for reals…)

 

Anyhoo, here’s what’s happening with the crypto price action right now…

 

Top 10 overview

With the overall crypto market cap at about US$2.25 trillion, up roughly 1% from this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

The market’s recovering at the time of writing after yesterday’s dip. Most eyes have been on Bitcoin (BTC) to see if it could quickly reclaim the US$45k support level. Level achieved and so far, so good.

In fact, in the time between beginning this article and reaching this point, Bitcoin has reclaimed another level, cracking the US$46k mark again.

There’s still a lot work to do to even think about reaching the US$69k boss level again, but here’s what venture capitalist Dan Morehead, CEO of Pantera Capital, thinks about the market at the moment…

Morehead was speaking with Yahoo Finance this week and indicated he thinks the market is “either at the lows or very close to it”. He also expects it, for various reasons, to “decouple” from traditional markets: “I think stocks and bonds may keep going down potentially for years, whereas blockchain assets can go up.”

And he’s not the only wildly bullish big player out there. The fundies over at New York’s VanEck have grabbed their calculators and somehow figured out that Bitcoin could one day hit… wait for it… US$4.8 million (per BTC) if it were to become a global reserve asset.

That’s a pretty big if, but these are pretty crazy times. Guess we wouldn’t be completely ruling it out.

 

Uppers and downers: 11–100

Sweeping a market-cap range of about US$24 billion to about US$1.2 billion in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time.

DAILY PUMPERS

• STEPN (GMT), (market cap: US$1.75 billion) +26%

• Aave (AAVE), (mc: US$3.3 billion) +13%

• Zilliqa (ZIL), (mc: US$2.9 billion) +12%

• Lido DAO (LDO), (mc: US$1.2 billion) +9%

• Arweave (AR), (mc: US$1.95 billion) +5%

 

DAILY SLUMPERS 

• Waves (WAVES), (market cap: US$5.4 billion) -7%

• THORChain (RUNE), (mc: US$3.56 billion) -4%

• Humans.ai (HEART), (mc: US$1.46 billion) -3%

• Decentraland (MANA), (mc: US$3.99 billion) -3%

• The Graph (GRT), (mc: US$3.2 billion) -3%

 

Uppers and downers: lower caps

Moving below the crypto unicorns (in some cases well below), here’s just a selection catching our eye…

DAILY PUMPERS

• dotmoovs (MOOV), (market cap: US$48 million) +181%

• Cult DAO (CULT), (mc: US$71m) +74%

• Biswap (BSW), (mc: US$236m) +65%

• Reserve Rights (RSR), (mc: US$281m) +15%

• Acala (ACA), (mc: US$596m) +15%

 

DAILY SLUMPERS

• CoW Protocol (COW), (mc: US$49m) -31%

• Shyft Network (SHFT), (mc: US$40m) -25%

• DeFi Kingdoms (JEWEL), (mc: US$685m) -20%

• Adventure Gold (AGLD), (mc: US$136m) -19%

• Wilder World (WILD), (mc: US$129m) -13%

 

Around the blocks

To finish the week, some random bits and pieces of interest floating about crypto Twitter this arvo. Have a great weekend…

This one below reminds me… must catch up with the Perth Heat again at some point to see how their Bitcoin Standard is going…

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