Tether Expands Bitcoin Mining Investments Amid Market Volatility

In a bold move contrasting the broader market trend, Tether has significantly increased its involvement in the Bitcoin mining sector. Despite the ongoing market volatility that has forced many mining firms to liquidate assets, Tether has capitalized on the downturn by raising its stake in Bitdeer to 21%, as revealed in a recent SEC filing. This strategic investment underscores Tether’s confidence in the long-term potential of Bitcoin mining and its commitment to strengthening its position in the cryptocurrency ecosystem. The timing of this investment, during a period of depressed stock prices, highlights Tether’s opportunistic approach and its bullish outlook on the future of Bitcoin. This development not only solidifies Tether’s role as a major player in the crypto industry but also signals potential stability and growth for the Bitcoin mining sector in the coming years.

Tether Deepens Involvement in Bitcoin Mining Sector

While market volatility pressures Bitcoin mining firms to liquidate assets for survival, Tether is charting a different course. The stablecoin giant has significantly deepened its involvement in the Bitcoin mining sector through a series of bold initiatives. According to a recent SEC filing, Tether has increased its stake in Bitcoin mining firm Bitdeer to 21%, capitalizing on a dip in the company’s stock price. The move marks a continued push into the mining industry, where traditional players are struggling amid stagnant BTC prices and waning investor confidence. Additionally, Tether announced plans to deploy its existing and future hashrate on OCEAN, a decentralized mining pool spearheaded by veteran Bitcoin CORE developer Luke Dashjr.

Bitcoin: Expert Predicts Crash to $40,000 as China Dumps BTC

Geopolitical tensions between the US and China have threatened global markets, with the cryptocurrency market potentially poised to take a hit. An expert predicts that Bitcoin could crash to $40,000 as China continues to dump BTC. The ongoing tensions have impacted the leading cryptocurrency, which has failed to break through the $85,000 mark for much of the last month.

Bitcoin Price Analysis: Potential Breakout or Rejection Soon

Bitcoin is slowly pushing higher, aiming to reclaim the 200-day moving average around $88K. The recent price action shows short-term higher highs and lows, but BTC remains stuck below this level. A clean daily close above this zone could open the door toward $92K and eventually $100K. A rejection could lead to a key support test in the $80K region.

Fed’s Recession Fears Could Catapult Bitcoin Prices to $1M By 2030

The Federal Reserve (Fed) Chairman, Jerome Powell, warned of a potential stagflationary situation with higher inflation and slower growth on Apr. 16. This scenario poses challenges for the central bank in making policy decisions, given its dual mandates of maximum employment and price stability. The New York Federal Reserve’s recession indicator suggests a 56% chance of a US economic recession in July. Meanwhile, BlackRock’s crypto chief, Robbie Mitchnick, stated that a recession could be a significant catalyst for Bitcoin’s growth. No mention of other cryptocurrencies or exchanges in the article.

Bitcoin Dominance Crosses 64%, Altcoin Season Possible?

Bitcoin’s dominance has surpassed the 64% level for the first time in over four years, suggesting potential exhaustion in its relative outperformance. This setup closely resembles the 2021 cycle, hinting at a possible breakout for altcoins. The Relative Strength Index (RSI) is in overbought territory, which may indicate a rotation into altcoins soon.

Bitcoin In The Aisles: Swiss Supermarket Chain Welcomes Crypto Payments

A Spar supermarket in Zug, Switzerland has begun accepting Bitcoin as a form of payment, joining a growing number of enterprises that welcome cryptocurrency for day-to-day purchases. This move is significant for the global grocery chain with nearly 14,000 stores and 15 million daily customers. The supermarket has been added to the BTC Map, a platform that monitors businesses accepting Bitcoin payments. Payments are supported through Bitcoin Lightning Network technology, allowing customers to make payments by scanning a QR code.