Crypto Market Analysis: Bitcoin, Ethereum, Solana, Arbitrum, Injective, Celestia
The cryptocurrency market witnessed a brief pause in its upward momentum as Bitcoin (BTC) and other major altcoins took a breather. BTC reached a peak of $110,498 before retracing to $109,145. Ethereum (ETH) touched $2,632 briefly before settling at $2,574. Solana (SOL) traded at $152, marking a 1.13% decrease. However, Dogecoin (DOGE) and Cardano (ADA) managed to post gains amidst the market fluctuations. The absence of provisions for cryptocurrencies in Trump’s budget plan left market participants disappointed.
Senator Cynthia Lummis introduced a comprehensive digital asset tax framework bill in the U.S. aimed at addressing taxation issues related to cryptocurrencies. The bill seeks to amend the tax code to incorporate digital assets and broaden securities offering regulations to cover these assets.
On the U.S. front, Wall Street remained optimistic despite the delayed Federal Reserve rate hikes, with the Dow Jones, S&P 500, and Nasdaq Composite all recording gains. A robust jobs report showing a significant rise in non-farm payrolls bolstered market sentiment.
Malware Targets Firefox Users
A recent malware campaign targeted cryptocurrency users by distributing fake browser extensions on Mozilla Firefox, compromising users’ wallet credentials. The phishing scheme disguised malicious extensions as popular wallet utilities, affecting over 40 extensions linked to the malicious campaign.
Billionaires, including Peter Thiel, are backing a new financial services company focused on supporting startups and crypto firms. The collapse of Silicon Valley Bank in 2023 prompted this initiative to assist businesses struggling to access capital due to stringent banking regulations.
Crypto Price Analysis: Bitcoin, Ethereum, Solana, Arbitrum, Injective, Celestia
Bitcoin’s recent rally stalled as it failed to break above $110,590, facing limited spot demand. Ethereum surged to $2,637 before encountering resistance. Solana struggled to sustain its momentum above $160. Similarly, Arbitrum, Injective, and Celestia witnessed varying levels of market activity and price fluctuations.
Overall, the cryptocurrency market continues to grapple with regulatory uncertainties and market volatility, with major players taking steps to address tax and market challenges.
