Hey there, PoI readers! 👋😄

Mochi here, your trusty tech and web3 whiz, ready to serve up another piping hot batch of crypto news! From Bitcoin's price plunge and GBTC's outflow drama to Ton Foundation's partnership and Solana's potential comeback, we've got a buffet of blockchain brilliance to dive into. So, grab your virtual forks and let's dig in! 🍴🌐

INTEL BRIEF

🟧 Bitcoin price dips to $62,000 range amid geopolitical tensions between Iran and Israel, causing uncertainty and apprehension in the cryptocurrency market.

🟧 Despite Grayscale CEO's optimistic remarks, GBTC continues to experience significant outflows, with over $166 million withdrawn on Friday, while Bitcoin ETF inflows remain minimal.

🟧 Ton Foundation partners with Hashkey to provide on- and off-ramp solutions for Telegram wallet users, aiming to support TON-based projects in the Asia Pacific region.

🟧 Solana price shows potential for recovery if bulls can hold above the crucial $130.45 support level, but a break below $120 would invalidate the bullish thesis.

Bitcoin Price Plummets to $62K as Iran-Israel Tensions Escalate, Market Jitters Intensify

Bitcoin price has taken a nosedive, plunging into the $62,000 range on Sunday, following Saturday's jaw-dropping $60,660 intra-day low. What's causing this crypto catastrophe, you ask? Well, it seems the culprit is none other than the escalating geopolitical tensions between Iran and Israel.

As the final countdown to the BTC halving on April 20 begins, the cryptocurrency market arena is feeling the heat. The global cryptocurrency market capitalization has taken a 5% hit, dropping to $2.28 trillion amid the rising uncertainty and apprehension. Meanwhile, investors are scurrying towards traditional safe-haven assets like gold and silver.

The crypto markets are experiencing a severe case of the jitters, with traders and investors keeping a close eye on Iran's retaliatory attack, fearing the possibility of a larger war. This atmosphere of fear and risk aversion has investors scrambling to liquidate their cryptocurrency positions, causing the market to bleed.

However, it's not all doom and gloom! Geopolitical uncertainty could potentially drive adoption of alternative assets like Bitcoin, just like it did during the early months of the Russia-Ukraine debacle. So, keep your eyes peeled for any signs of increased demand for cryptocurrencies as investors seek to protect their wealth from traditional market volatility.

As of now, Bitcoin price is trading at $63,266, with bulls putting up a brave fight against further downside. But the market is flashing red, and the global market capitalization is in freefall. In the coming days, it'll be crucial to monitor the severity of the conflict, global response, market sentiment, and investor behavior.

Bitcoin price plunges to $62,000 range as Iran-Israel tensions escalate, causing market jitters.

Investors seek safe-haven assets like gold and silver, while global cryptocurrency market cap drops by 5%.

Keep an eye on the situation, as geopolitical uncertainty could potentially drive Bitcoin adoption.

GBTC Hemorrhages $166M Despite CEO's 'Equilibrium' Hopes, Bitcoin ETF Inflows Stagnate

It seems the Grayscale Bitcoin ETF (GBTC) just can't catch a break. Despite CEO Michael Sonnenshein's optimistic "equilibrium" remarks, the fund continues to bleed money like a stuck pig. On Friday, April 12, over $166 million and more than 2,500 Bitcoin were yanked out of GBTC's holdings. Ouch!

Since the Bitcoin ETF's January launch, outflows from GBTC have surpassed a staggering $16.2 billion. And if you thought April showers bring May flowers, think again. Daily outflows from the Grayscale Bitcoin Trust (GBTC) have been bouncing between $75 million and $300 million this month. It's like watching a yo-yo on steroids!

Meanwhile, Bitcoin ETF inflows are about as exciting as watching paint dry, indicating that investor engagement is as low as a limbo stick. GBTC alone recorded a whopping $767 million in outflows this week, contributing to the overall negative flows into Bitcoin ETFs. It's a bloodbath out there!

But wait, there's a glimmer of hope! BlackRock has been standing strong, with assets under management for its IBIT Bitcoin ETF exceeding $15 billion, closing in on Grayscale's Bitcoin reserves. It seems like a good chunk of GBTC's outflows may have found a new home with BlackRock.

Now, let's talk about the elephant in the room: GBTC's sky-high management fees. At 1.5% a year, compared to the 0.30% average of its competitors, it's no wonder investors are jumping ship. But Sonnenshein seems reluctant to cut the fees, even as the flows drift away to greener pastures.

As the market matures, consolidation is inevitable, with investors focusing on a select few offerings. And let's not forget the recent drama with bankrupt crypto lending firm Genesis, which offloaded roughly 36 million GBTC shares to acquire 32,041 Bitcoin. It's like a soap opera in the crypto world!

GBTC sees $166M outflow on Friday, despite CEO's optimistic remarks.

Bitcoin ETF inflows remain minimal, indicating low investor engagement.

BlackRock's IBIT Bitcoin ETF gains ground, while GBTC's high management fees drive investors away.

Ton Foundation and Hashkey Join Forces to Boost Crypto Adoption for Telegram Wallet Users

The Ton Foundation has just announced a game-changing partnership with crypto exchange Hashkey to make life easier for Telegram wallet users. That's right, folks – on- and off-ramp solutions are coming to a Telegram wallet near you!

The dynamic duo plans to start this crypto revolution in Hong Kong before expanding to other regions, making it a breeze for people in the Asia-Pacific region to integrate digital assets into their daily lives. It's like having your cake and eating it too, but with cryptocurrencies!

But wait, there's more! The Ton Foundation and Hashkey aren't just stopping at on- and off-ramps. They're also pledging to support new TON-based projects in the Asia Pacific region that have gone viral, offering financial and mentorship support. It's like having your own personal cheerleaders, but instead of pom-poms, they've got crypto know-how!

This partnership comes hot on the heels of the TON Foundation's recent airdrop announcement, where they took a snapshot to distribute a whopping 300,000 TON (worth $2.19 million) to meme coin traders on two of its top decentralized exchanges, Ston.fi and DeDust.io. It's raining TON, hallelujah!

Meanwhile, TON has been on a wild ride, reaching an all-time high of $7.63 on Thursday before experiencing a correction. Despite the 13% dip, TON has managed to flip Cardano and claim the title of the tenth-largest cryptocurrency by market capitalization. Not bad for a blockchain platform that faced early setbacks when Telegram had to drop it due to legal action from the US Securities and Exchange Commission (SEC).

Ton Foundation and Hashkey partner to provide on- and off-ramp solutions for Telegram wallet users.

The duo also aims to support TON-based projects in the Asia Pacific region through financial and mentorship support.

Toncoin breaks into the top 10 cryptocurrencies by market cap, despite early setbacks.

Solana Price Poised for a Comeback, but Bulls Must Hold the Line at $130

Solana (SOL), has been on a wild ride lately, and it's time to buckle up and see where this rollercoaster is headed next!

Despite the recent 20% nosedive on the weekly timeframe and a 5% dip in the last day, Solana price is showing signs of a potential recovery rally. But here's the catch: it all depends on whether the bulls can hold their ground above the crucial $130.45 level.

Why is this level so important, you ask? Well, it just so happens to be near the 200-day Simple Moving Average (SMA) at $131.39, which is like a big, flashing "support zone" sign for SOL. When the SMAs are climbing, it usually means the asset's price is in a bullish trend. So, if the bulls can defend this level, we might see Solana price take off like a rocket!

The Relative Strength Index (RSI) has also bounced back above the 30 threshold, indicating rising momentum. Plus, with the 50, 200, and 100-day SMAs all climbing at $163.07, $131.39, and $93.40, respectively, it looks like the stars are aligning for a Solana price surge.

If the bulls can muster up enough buying pressure, we could see SOL shatter the resistance at the 50-day SMA ($163.07). If this roadblock turns into a support level, it might be time to fasten your seatbelts because Solana price could be headed for the moon! In a super bullish scenario, SOL could even reclaim the $210.18 range high, marking a jaw-dropping 25% climb from current levels.

But wait, there's a plot twist! If Bitcoin price decides to take a nosedive, Solana price might follow suit, potentially losing the $130.45 support level. If seller momentum kicks into high gear, SOL could even drop below the Saturday range low of $116.00, forming a lower low. And if that happens, well, let's just say the bullish thesis might end up in the crypto graveyard.

Solana price shows signs of recovery, but bulls must hold above $130.45 support level.

If bulls succeed, SOL could break resistance at $163.07 and potentially reach $210.18.

A Bitcoin price crash and a break below $120 would invalidate the bullish thesis for Solana.

Well, that's all for now, my crypto-loving PoI pals! 😎💖 I hope this edition has left you feeling empowered, amused, and maybe even a little bit more bullish on the future of digital assets. Remember, in the wild world of crypto, knowledge is power, and laughter is the best medicine! 💊😂

Until next time, this is Mochi, signing off with a virtual fist bump and a reminder to keep hodling on to your dreams (and your cryptocurrencies)! 👊✨

P.S. Don't be a stranger – share your thoughts, questions, and favorite blockchain memes with us. Every voice matters in the PoI family! 🗣️🫂 And if you enjoyed this newsletter, spread the love and share it with crypto enthusiasts! 🙌💞

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