Bitcoin

April

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	<p>Bitcoin&#8217;s price is experiencing a strong rebound, heading toward $30,000 on April 26 with a 6.5% increase compared to its local lows.</p>
<p>The surge appears to be fueled by renewed concerns over the stability of US banks, particularly First Republic Bank, which reported a significant drop in deposits and a 50% plunge in its share price. This ongoing banking crisis has reminded investors of the persistent issues that have persisted since March, with crypto analysts predicting further developments.</p>
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<p lang="en" dir="ltr">When this bank bites the dust, probably later this week, we will be closer to the mrkt realising the entire US banking deposit base is de-facto gteed by the USG. </p>
<p>Massively Inflationary, that is why <a href="https://twitter.com/search?q=%24XAU&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$XAU</a> and <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BTC</a> are rising on news that FRC is a dead bank walking. <a href="https://t.co/LjSgjT5AJt" rel="nofollow" target="_blank">https://t.co/LjSgjT5AJt</a></p>
<p>&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1651021789190049792?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 26, 2023</a></p></blockquote>
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<p>Market analysts have observed a heavily shorted <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a>, with traders considering short opportunities near the $29,000 mark. Trading suite Decentrader warned that the market&#8217;s lack of trust in the uptrend&#8217;s durability is evident in the increasing open interest and dropping funding rate.</p>
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<p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BTC</a> / <a href="https://twitter.com/search?q=%24USD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$USD</a> &#8211; Update </p>
<p>Currently out of the Bitcoin trade, so am looking for another setup to reposition </p>
<p>I am looking for us to tap that high and close back below (Deviate) .. This would b a solid trigger for a short entry <a href="https://t.co/my4nDM4i7c" rel="nofollow" target="_blank">pic.twitter.com/my4nDM4i7c</a></p>
<p>&mdash; Crypto Tony (@CryptoTony__) <a href="https://twitter.com/CryptoTony__/status/1651111616761430016?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 26, 2023</a></p></blockquote>
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<p>Despite the skepticism, some investors, like trader Jelle, remain optimistic, expecting minor dips before the price continues to rise, targeting $30,000.</p>
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<p lang="en" dir="ltr">A strong bounce from the lows as expected, my <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Bitcoin</a> longs are printing.</p>
<p>Expecting a minor dip into the area we just broke, before continuing higher.</p>
<p>The 4h candles may look scary, but I&#39;m not worried.</p>
<p>30k remains the target for this trade. <a href="https://t.co/Bl1Px0GKvW" rel="nofollow" target="_blank">pic.twitter.com/Bl1Px0GKvW</a></p>
<p>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1651132783350226945?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 26, 2023</a></p></blockquote>
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<p>Meanwhile, Argentina is grappling with an unprecedented inflation crisis, which has driven the value of its currency, the Argentine peso (ARS), to an all-time low against Bitcoin. With inflation rates soaring past 100%, Argentines are increasingly turning to Bitcoin and altcoin markets as alternative stores of value. Restrictions on USD purchases have also pushed many Argentines towards <a href="https://crypto.ro/en/education/best-crypto-to-buy-now/">cryptocurrencies</a>.</p>
<p>The rapid inflation in Argentina has been attributed to factors such as dwindling central bank reserves, which some experts believe may have halved since 2019, and the government&#8217;s monetary policy.</p>
<p>As public discontent grows, citizens have taken to the streets in protest, blaming the government for the peso&#8217;s decline. Some protesters even burned an effigy of the International Monetary Fund (IMF) during a recent march.</p>
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<p lang="en" dir="ltr">Protests were held in Argentina <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1e6-1f1f7.png" alt="🇦🇷" class="wp-smiley" style="height: 1em; max-height: 1em;" /> against neoliberal IMF policies and in rejection of the visit of SOUTHCOM Commander, Laura Richardson. <a href="https://t.co/6Ln2ZAgrfM" rel="nofollow" target="_blank">pic.twitter.com/6Ln2ZAgrfM</a></p>
<p>&mdash; Kawsachun News (@KawsachunNews) <a href="https://twitter.com/KawsachunNews/status/1648105805634232323?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 17, 2023</a></p></blockquote>
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<p>With presidential elections set to take place in October, the Argentine population is increasingly moving away from the devalued peso, fueling a surge in demand for Bitcoin.</p>
<p>Some local Bitcoin vendors are reportedly charging sky-high prices for fiat-to-crypto purchases due to the increased demand, charging high prices of up to $61,000 for a single BTC.</p>
<figure id="attachment_21120" aria-describedby="caption-attachment-21120" style="width: 1591px" class="wp-caption alignnone"><img decoding="async" class="wp-image-21120 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/04/Bitcoin-prices-versus-the-Argentine-peso-over-the-past-year.jpg" alt="Bitcoin prices versus the Argentine peso over the past year" width="1591" height="424" srcset="https://crypto.ro/en/wp-content/uploads/2023/04/Bitcoin-prices-versus-the-Argentine-peso-over-the-past-year.jpg 1200w, https://crypto.ro/en/wp-content/uploads/2023/04/Bitcoin-prices-versus-the-Argentine-peso-over-the-past-year-300x80.jpg 300w, https://crypto.ro/en/wp-content/uploads/2023/04/Bitcoin-prices-versus-the-Argentine-peso-over-the-past-year-1024x273.jpg 1024w, https://crypto.ro/en/wp-content/uploads/2023/04/Bitcoin-prices-versus-the-Argentine-peso-over-the-past-year-768x205.jpg 768w, https://crypto.ro/en/wp-content/uploads/2023/04/Bitcoin-prices-versus-the-Argentine-peso-over-the-past-year-750x200.jpg 750w, https://crypto.ro/en/wp-content/uploads/2023/04/Bitcoin-prices-versus-the-Argentine-peso-over-the-past-year-1140x304.jpg 1140w" sizes="(max-width: 1591px) 100vw, 1591px" title="Bitcoin soars past $30,000 amid First Republic Bank crisis and Argentina inflation 1"><figcaption id="caption-attachment-21120" class="wp-caption-text">Bitcoin prices versus the Argentine peso over the past year | Xe.com</figcaption></figure>

Bitcoin soars past $30,000 amid First Republic Bank crisis and Argentina inflation

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