Today's POTD is a double bet

Newcastle and City to win, 2.10 odds

Not much explanation needed, 2 favourites at home, fighting for Champions League spots. We expect them both to win.

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Dependent on the U.S. dollar.” What prevents the bitcoin price from rising to $200k 💰

🟠Why bitcoin has become dependent on the U.S. dollar. Experts - on the reasons for the lack of growth in the first quarter and forecasts for 2025

🛡Bitcoin was created as a decentralized alternative to the traditional financial sector, as a system independent of regulators and other centralized structures. However, with the adoption of cryptocurrency by governments and financial organizations, the price of bitcoin is increasingly correlated with the US stock market. Following this, experts and investors explain why the major cryptocurrency is not yet independent of the system it was created to replace.

“The price movement you're seeing is short-term noise caused by institutional traders treating bitcoin like tech stocks,” Swan Bitcoin CEO Corey Klippsten told Decrypt

📉 Experts also try to explain bitcoin's correlation with stocks by the fact that it has no restrictions on trading hours or jurisdictions.

“Bitcoin trades as a risky asset in the short term because it is the most liquid, round-the-clock traded asset on Earth. In times of panic, traders sell what they can, not what they want. That doesn't mean it's correlated over the long term. It means it's always available,” wrote Michael Saylor, founder of Strategy, the largest corporate holder of bitcoin

🔎 According to a chart of the 30-day correlation between the price of bitcoin and the major stock indexes SP 500 and NASDAQ100, which track the prices of the largest U.S. stocks, at least since 2020, most of the time quotes of the main cryptocurrency have a positive correlation with the stock market.

This indicates the dependence of BTC price on the same macroeconomic and political events as in traditional financial markets - changes in interest rates, new trade duties, inflation data or comments from the US Federal Reserve.

📈On January 20, the day of the inauguration of U.S. President Donald Trump, the price of bitcoin reached its all-time high of about $110,000. The SP500 and NASDAQ100 indices reached their price peak a month later, in late February, at levels of about $6,15К and $22,2К, respectively, according to TradingView. By April 4, bitcoin had lost about 22% of its peak to $84.5k, the NASDAQ100 had lost about 17% of its peak, and the S&P500 had lost 12%.

#analytics

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The SEC accused NovaTech of defrauding the company of $650 million⚖️

The U.S. Securities and Exchange Commission (SEC) accused the founders and promoters of NovaTech of organizing a pyramid scheme that raised more than $650 million in crypto-assets.

🛡Investors were guaranteed "investment security, returns from day one, and access to capital." However, in reality, most of the funds were used to pay existing investors, promoters, and for Petyonov's personal use.

"MLM schemes of this scale require promoter activity to sustain. Our actions show that we will hold accountable not only the organizers, but also the promoters who spread scam by illegally soliciting victims," SEC Office Director Eric Werner.

📍The commission has charged the defendants with violating anti-fraud regulations and registration requirements. The regulator is seeking permanent injunctive relief, civil penalties and refunds.

#news

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