BTC Breaks Through 67,000 USDT

Bitcoin 'done' with 85% crashes, says Cathie Wood amid new $34K target

Bitcoin (BTC) is “done” with drawdowns of 85% or more from all-time highs, says ARK Invest CEO, Cathie Wood. Key points: Bitcoin will not see another correction of 85% or more versus its latest all-time high, Cathie Wood argues. A new prediction sees $34,000 becoming the next BTC

Two men in Heilongjiang were sentenced for illegally tapping into a high-voltage power line at an oil field to mine cryptocurrency, with the principal offender receiving a 10-year prison term

A court in Honggang District, Daqing City, Heilongjiang Province, ruled that two men were convicted of stealing electricity by illegally tapping an oil-field high-voltage power line to power Bitcoin mining. The principal offender, Zhang, was sentenced to 10 years in prison and fined 50,000 yuan, while the accomplice, Zhao, was sentenced to 4 years and 10 months and fined 20,000 yuan. The total value of the stolen electricity exceeded 800,000 yuan.

Cathie Wood: BTC has entered a mature stage; 85%-95% will either experience a deep drop or become a thing of the past

ARK Invest founder Cathie Wood says Bitcoin has entered a mature phase, and that the large drawdowns of the past may be behind us— even a future 50% pullback would be considered progress. She noted that Bitcoin has grown into a mature monetary system and asset class.

BTC is trading in a tight range around $67,000, and SOL futures open interest hits a new two-month high

On April 3, the crypto market continued to trade in choppy conditions. Bitcoin was consolidating around $67,000, maintaining its broader downward trend that began last October. The futures market saw thin trading, with Solana futures open interest hitting a new high, and the volatility index falling to its lowest level since February. Market structure indicates that short positions are increasing.

BTC drops below $65k; the long position liquidation strength will reach $65k. Breaking above $68k, the short position liquidation strength will reach $754 million

According to Coinglass data, if Bitcoin falls below $65k, long positions on major CEXs will be liquidated to the tune of $65k; if it breaks above $68k, short positions will be liquidated to the tune of $754 million. The liquidation chart reflects the strength of the market reaction when price touches a certain level.