Over the last several days, the bitcoin has failed to break above resistance above $47,000, indicating a lack of rising momentum. Still, weaker support at $43,000 and $45,000 might help to keep the decline in check.

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Momentum indications on the daily chart remain bearish, as they were in early February. However, bitcoin has broken over $43,000 with bullish momentum on the weekly chart this time. As a result, buyers may stay aggressive on pullbacks.

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On the daily chart, the relative strength index (RSI) is declining from overbought levels, as it did in October of last year. Nonetheless, overbought indications might remain for a few months before a substantial market drop.

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Bitcoin fear and greed index on Wednesday, April 6, 2022, went from the neutral level of 53 to the level of 48 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.   

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Bitcoin is currently trading at $45,288.23, down 2.90%. In the last 24 hours, the highest it touched was $47,106.14 and the lowest was $44,669.25. Bitcoin has a current market cap of $860,789,294,883. It has a circulating supply of 19,004,187.00 BTC coins and a maximum supply of 21,000,000 coins.

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United States sanctions Russia’s hydra darknet and adds roughly 100 BTC wallets on OFAC List

The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Russia-based Hydra Market, calling it the world’s largest and most prominent darknet market. “The global threat of cybercrime and ransomware that originates in Russia, and the ability of criminal leaders to operate there with impunity, is deeply concerning to the United States,” said Treasury Secretary Janet Yellen, noting cooperation with allies such as Germany and Estonia, according to a press release. Earlier today, Germany announced the shutdown of Hydra and the seizure of 543 bitcoin (BTC) worth about $25 million. The U.S. Treasury said it is also identifying more than 100 virtual currency addresses associated with Hydra’s operations that have been used to conduct illicit transactions, the press release noted.

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Lightning Labs raises $70 million to bring stablecoins to Bitcoin

Bitcoin is getting a boost by way of a new Taproot-enabled protocol known as Taproot Asset Representation Overlay, or Taro. Taro is an open-source protocol powered by the Lightning Network (LN). On Tuesday, Elizabeth Stark, co-founder and CEO of Lightning Labs, announced Taro and its bid to bring assets, like stablecoins, to the Bitcoin blockchain. In addition to Taro, Lightning Labs also announced that it raised $70 million in Series B funding, led by Valor Equity Partners and joined by global asset manager Baillie Gifford. Lightning Labs describes Taro as an asset overlay network on Bitcoin. The security of Taro is based on embedded consensus, which means that transactions on Taro include Bitcoin data that needs to be verified on the Bitcoin blockchain.