Decentral Block Post

Bitcoin’s (BTC) tight consolidation near its local top suggests that traders are waiting for a catalyst to start the next trending move. The consumer price data on April 12 and the producer price index data on April 13 could give insight into the Federal Reserve’s future rate hikes and shake the traders out of their slumber.

The dull price action in Bitcoin has not reduced the interest in it. According to Ahrefs search volume data, Bitcoin remains the most Googled term in the United States followed by the keywords Donald Trump and Breaking news.

Another point worth noting is that Bitcoin’s circulating supply continues to dwindle. Citing Glassnode data, investor Anthony Pompliano pointed out that 53% of Bitcoin’s circulating supply has not moved in the past two years.

If demand increases, there could be a shortage of supply, which could boost prices higher. What are the critical resistance levels to watch for in Bitcoin and altcoins in the near term?

Let’s study the charts to find out.

Bitcoin (BTC) continues to tread water at the April 10 Wall Street open, but crypto market participants are betting on a serious breakout next.

After a late surge took BTC/USD to its highest weekly close since June 2022, there is new optimism over an attack on $30,000.

Data from Cointelegraph Markets Pro and TradingView shows a cool start to the macro trading week, with $28,200 currently forming a focus.

With formidable resistance overhead, however, Bitcoin has spent much of the last week in a firmly established but increasingly narrow trading range.

The longer this holds, the theory goes, the more intense the eventual breakout should be — whether up or down.

The algorithmic stablecoin TerraUSD (UST) collapsed almost one year ago, but some Terra-related projects are still live and trying to overcome some issues.

Terraport Finance, a decentralized finance (DeFi) exchange project based on the Terra Classic blockchain, suffered a breach on its liquidity wallet on April 10. Announcing the news on Twitter, Terraport said the hacker had drained all liquidity pools from the platform, causing losses of about $2 million worth of digital assets.

“We are currently working with community members and major exchanges to secure as many of these funds as possible and blacklist wallets. All funds have been tracked,” Terraport stated.

According to social media reports, the Terraport hacker has allegedly transferred the stolen funds to exchanges like Binance and MEXC Global. The investigators have urged the exchange’s security teams to freeze the assets as soon as possible.

While Terraport has been investigating the security issue and preparing an incident report, many online crypto enthusiasts have stood up to criticize the rushed launch of Terraport.