BTC, ETH Retrace, Tesla did not sell Bitcoin, new Memecoin (PEPE) hype in the first quarter: Review of the market this week

BTC, ETH Retrace, Tesla did not sell Bitcoin, new Memecoin (PEPE) hype in the first quarter: Review of the market this week

The last week was much more eventful inside and outside the cryptocurrency industry, whereby the CPI numbers showed declining inflation rates in the states, while Ethereum has passed its most remarkable upgrade since the fusion.

The highlight of Bitcoin came exactly a week ago. The following days were quiet before the cryptocurrency moved south on Monday morning. Although the losses were made up almost immediately, the asset began to fall again in the middle of the week. This time the bears made it from over $ 30,000 to less than $ 29,000. The last 24 hours were not friendly either, and BTC broke down for the first time in 12 days to less than $ 28,000.

The ETH was one of the top performers after the Shapella upgrade, but quickly lost dynamics in the middle of withdrawals and deposits to a large scale. The asset has lost over $ 200 in the past few days and has fallen up and under $ 1,900

Most alternative coins are in a similar, if not worse form in a week comparison. The biggest losses of the top 100 alternatives come from stacks (-20 %), immutable (-17.5 %), Lido dao (-17 %), algorand (-16 %), Conflux (-15 %), Kava (-15 %) and many others.

OKB is one of the few old coins that managed to oppose the general market mood by adding over 13 % in the same period. As a result, the asset is well traded over $ 50. Overall, however, the entire crypto market capitalization at Coingecko has dropped by around $ 100 billion.

market data

Market capitalization: 1,238 billion $ | 24-hour band: $ 59 billion | BTC dominance: 44.1 %

BTC: 28.215 $ (-7.2 %) | ETH: $ 1.916 (-5%) | BNB: $ 327 (+0.9 %)

The crypto headlines this week should not be missed

like someone with Pepe within a few days turned $ 27 in $ 1 million, but there is a hook . Cryptocurrency hype mania are a relatively frequent development in the middle of bull markets, but this, which dealt with a new Memecoin called Pepe, came out of nowhere for most. However, an investor was smart enough to make an overwhelming profit.

Tesla did not sell BTC in the first quarter of 2023 . The best-known EV manufacturer made headlines in 2021 when he bought Bitcoin worth over $ 1 billion. Since then, however, the company managed by Elon Musk has sold certain parts of its BTC stocks. Nevertheless, Tesla waived further sales in the first quarter of 2023.

Gary Gensler: The SEC will not change its attitude towards crypto bonds . Due to his policy for regulating the industry, the SEC chairman has become one of the most hated people in the crypto community. Despite the massive counter-reactions, some of which came from SEC employees and US politicians, Gensler said that his authority had no plans to change their behavior.

Coinbase is about to go to court with the SEC: Brian Armstrong . Some of the opposite reactions mentioned above came in particular from the largest US crypto tour-Coinbase-and their CEO. Brian Armstrong warned the Sec that both parties could go to court if the latter has no clarity about their regulatory attitude.

NBA legend Shaquille O’Neal served in FTX collection . The FTX drama does not seem to stop and more and more celebrities are being involved. Finally, the NBA legend-Shaquille O’Neal-was delivered in a class action lawsuit, which had previously managed to avoid the authorities on numerous occasions.

do Kwon transferred $ 7 million to a law firm (report) . The OG drama in 2022 started with the breakdown of Terra, and there are also further developments on this front. One of the latest reports on this topic claimed that Do Kwon transferred $ 7 million to a law firm