The cryptocurrency market is experiencing a risk-off sentiment, as escalating geopolitical tensions between Israel and Iran weigh heavily on investor sentiment. Bitcoin (BTC), which had seen a brief recovery earlier in the week, is now trading lower, hovering near $102,000. Altcoins such as Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) have also seen significant losses, with some lesser-known tokens like Fartcoin (FARTCOIN) and Ethena (ENA) pulling back by as much as 20%.
Reserve Bank of India Governor Sanjay Malhotra has reiterated the central bank’s apprehensions regarding cryptocurrencies, emphasizing potential threats to financial stability and monetary policy efficacy. Speaking after the recent monetary policy announcement, Malhotra highlighted that while the government’s inter-ministerial committee continues to deliberate on cryptocurrency regulation, no new regulatory measures have been introduced.
Bitcoin's recent surge in value can be largely attributed to a growing concern about U.S. fiscal policy, particularly amid expectations of an expanded money supply. Investors are increasingly turning to Bitcoin as a hedge against potential inflation, driven by the U.S. government’s fiscal decisions, including former President Donald Trump’s proposed “One Big, Beautiful Bill.” This legislative package, if passed, could exacerbate inflationary pressures, driving investors to seek alternatives like Bitcoin.
Bitcoin surged nearly 10% this week, stabilizing around Rs. 103,000 on Friday, buoyed by a wave of improved global sentiment following a new trade agreement between the United States and the United Kingdom. The easing of tariff uncertainty spurred a broad risk-on appetite across financial markets, helping propel the cryptocurrency within 5% of its all-time high. Meanwhile, Bitcoin’s institutional appeal continues to grow, as spot ETFs registered a fourth consecutive week of strong inflows. At the state level, U.S.
Pi Network, the decentralized digital currency project, has achieved a key milestone with Banxa receiving Know Your Business (KYB) approval. This development allows individuals across more than 100 countries to purchase Pi using cash, enhancing the network's accessibility and adoption potential. While the approval is seen as a positive step forward, concerns persist regarding Pi's price volatility, which has plummeted by approximately 80% from its peak.
In a landmark development for Pakistan’s burgeoning cryptocurrency sector, the Pakistan Crypto Council (PCC) and World Liberty Financial (WLF) have signed a series of agreements aimed at driving innovation and investment in blockchain and decentralized finance (DeFi). This collaboration, announced during a ceremony attended by key figures including Minister for Information Ata Tarar and WLF’s co-chairman Zack Vetkoff, is set to position Pakistan as a leader in the digital finance space.
After a week of turbulent trading driven by global macroeconomic shifts, the cryptocurrency market witnessed a cautious recovery on April 11. Bitcoin, the bellwether of digital assets, briefly surpassed $82,000 before settling near $80,000, as investors processed a surprise drop in U.S. inflation and President Trump’s decision to pause tariffs for many countries—except China. While the softer Consumer Price Index (CPI) data initially sparked optimism, profit booking and fears of prolonged monetary tightening continue to weigh on crypto sentiment.
In a significant development for the cryptocurrency platform WazirX, its parent company Zettai Pte has announced that 93% of users affected by a cyber attack, which saw losses exceeding USD 230 million, have voted in favor of a proposed restructuring scheme. This move signals the platform's efforts to recover lost assets and resume its operations, pending approval from the Singapore High Court. The support from creditors highlights the shared confidence in WazirX's recovery plan and the platform's potential return to the cryptocurrency trading scene.
