In today's CryptoSlate newsletter, we highlight key developments shaping the cryptocurrency landscape. Bitcoin’s recent 27% pullback has sparked speculation of a historic rally, with analysts eyeing a $370,000 bull run target based on past cycle patterns. In Texas, lawmakers are advancing a bill to establish a Bitcoin reserve, signaling growing state-level adoption of crypto assets. Meanwhile, Bitcoin’s steep decline is being driven by short-term holders and high-frequency traders, adding to market volatility. Lastly, the SEC has clarified that memecoins are not securities but cautions against fraud risks. Stay informed with today’s top crypto stories!
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The global crypto market cap is $2.77 trillion, with a 24-hour volume of $184.13 billion. The price of Bitcoin is $83,614.33, and BTC market dominance is 59.9%. The price of Ethereum is $2,208.04, and ETH market dominance is 9.6%. The best-performing sector is Art, which gained 14%. The Crypto Fear & Greed Index is currently Extreme Fear (16).
Bitcoin’s 27% slide raises prospects for rebound, aligns with historical cycle patterns.
Texas moves closer to establishing a cryptocurrency reserve, joining a growing list of states seeking to diversify financial assets.
High-frequency traders and day traders rile Bitcoin market as prices plummet.
SEC's clarification links memecoins to entertainment, not securities but warns against potential fraud.
