26 Apr 2025, 13:39

Ukraine hit by banking and payment outages after Trump cuts funding

Ukraine’s financial system collapsed into chaos Saturday as major banks, payment services, and digital platforms across the country crashed at once, according to Bloomberg. People across Ukraine said they couldn’t swipe cards at retail stores, hop on public transport, or pay for taxi rides. Mobile payment apps like Apple Pay were also dead, leaving thousands stuck without ways to pay for basic goods and services. Serhiy Naumov, the CEO of Oshchadbank, Ukraine’s government-run savings bank, said on Telegram that a large data center used by the bank had gone down. Naumov confirmed the crash caused widespread banking disruptions. Meanwhile, Nova Poshta, the country’s biggest private post office and a company that now operates outside the country, posted on Facebook that its services had been taken offline due to “technical problems.” Diia, Ukraine’s national digital services platform, also stopped working. The Ministry of Digital Transformation said a technical update at one of its major data centers triggered the collapse. U.S. funding cuts strip Ukraine’s cyber defenses Even though nobody has officially blamed cyberattacks yet, Ukraine has been under nonstop cyber pressure ever since Russia’s full-scale invasion in 2022. As Cryptopolitan reported on Friday, American efforts to help the European nation defend itself have been gutted by Donald Trump’s new White House policies. After Trump was sworn in this January, the administration moved fast to slash budgets across U.S. agencies. Ukraine felt the cuts harder than almost anyone else. Cybersecurity support, military shipments, and even intelligence cooperation all dried up. Critics say Trump’s White House is pushing Ukraine’s President Volodymyr Zelenskiy to accept a peace deal that leans heavily toward Russia’s interests. Over the last five years, the U.S. Agency for International Development (USAID) poured more than $200 million into Ukraine’s cybersecurity efforts. The National Security Agency and U.S. Cyber Command also pitched in with technical support, equipment, and training. Their help kept Ukraine’s government ministries, national bank, telecommunications companies, and power providers running even under heavy Russian cyberattacks. Those lifelines have been yanked. USAID , once Ukraine’s biggest cybersecurity backer, was gutted by Elon Musk’s Department of Government Efficiency (DOGE) starting in February. Musk said on X that USAID was “interfering with governments worldwide” and “pushing radical left politics,” but he didn’t show any evidence for his claims. Cybersecurity contracts collapse after White House cuts Dozens of cybersecurity contractors working in Ukraine and the United States have had their deals canceled or frozen, according to eight people familiar with the matter who allegedly spoke to Bloomberg. These were the people helping Ukraine stop Russian hackers from crashing power plants and infiltrating the Cabinet of Ministers, the country’s executive leadership body. American grants had funded cybersecurity at government offices, election infrastructure, gas and energy companies, and even nuclear sites. Some programs were greenlit during Trump’s first term, but the second Trump administration cut them off without warning. The situation got even worse after Russia’s February 2022 invasion, when USAID sharply increased cybersecurity funding to help Ukraine survive the flood of new attacks. Now, with Musk leading the drive to dismantle foreign aid programs, even that backup is gone. This week, Vice President JD Vance warned that if the warring European nations don’t accept the Trump-backed peace deal, the United States might ditch the peace process altogether. That move could slam the door on any future cybersecurity assistance. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

26 Apr 2025, 13:37

XRP Set for 1000% Rally? Gold’s Drop Could Trigger Massive XRP Rally!

The post XRP Set for 1000% Rally? Gold’s Drop Could Trigger Massive XRP Rally! appeared first on Coinpedia Fintech News While the crypto market has been moving sideways for months, something interesting is happening with XRP. In the past, when gold slowed down after a strong run, XRP went on a huge 1,000% rally. Now, with gold cooling off and the Ripple vs SEC case nearly over, many are wondering — is it finally XRP’s time to shine again? XRP Could Be Ready For Breakout Over the past few months, gold has been performing extremely well, climbing nearly 89% from October 2023 to April 2025. While gold kept breaking records, the crypto market, including Bitcoin and XRP, has seen a modest increase, not as much as of gold surge. However, things are starting to change now. Gold has pulled back slightly from its peak, dropping about 6% and is now trading around $3,318 . At the same time, Bitcoin is bouncing back, this week, it climbed to $95,000 with an 11% gain, showing that the crypto market might be waking up again. Meanwhile, XRP has been trying to stay strong above the $2 mark, but hasn’t shown much of a jump over the period yet. History Could Repeat for XRP Interestingly, this pattern looks very similar to what happened in 2020. Back then, gold had a strong run while crypto stayed weak. But when gold started slowing down, XRP and the rest of the crypto market shot up. In 2020, XRP rose from just $0.17 to around $1.96, a gain of over 1,000% even though Ripple was still fighting a major lawsuit with the SEC at the time. Although now the SEC case against Ripple is also close to ending, which could remove a big risk for XRP and give it more room to fly higher. Could XRP Do It Again? However popular crypto analyst named Cryptarch on TradingView believes XRP could soon go higher. He expects the price to move up step-by-step, first testing important levels like $2.49, $3.00, and $3.39. He even thinks XRP might even jump to $6.50 soon, which would be almost a 200% increase from where it is now. Giving an even more hopeful prediction, crypto supporter Davinci Jeremie says XRP could reach $24 this year. As of now, XRP is trading at around $2.20 , reflecting a slight rise seen in the last 24 hours with a market cap hitting $128 billion.

26 Apr 2025, 13:37

Bitcoin Price Analysis: BTC Slips Below $95,000 After Marginal Decline

Bitcoin's (BTC) price action is relatively muted as it hovers around $95,000. The flagship cryptocurrency went past $95,000 on Friday, rising to $95,620, but lost momentum and declined to its current level of $94,285. Analysts predict BTC could reclaim $100,000 and potentially rally to a new all-time high if bullish momentum picks up. Bitcoin (BTC) Poised For Strongest Weekly Gain Bitcoin’s 11% jump to crack the $95,000 ceiling is on track to become its strongest weekly performance since November 2024. The flagship cryptocurrency pushed above $95,000 Friday before registering a marginal decline. BTC is marginally up over the past 24 hours as it looks to build momentum and reclaim $95,000. The broader crypto market also continued its positive momentum, with most cryptocurrencies, including Ethereum (ETH), Ripple (XRP), and Solana (SOL) trading upwards. The gains indicate that the markets have overcome the early-April turmoil created by economic uncertainty and Trump’s tariffs. ETFs have also bounced back, recording $2.68 billion in net inflows this week, the highest since December, according to data from SoSoValue. The flagship cryptocurrency’s resilience highlights its decoupling from traditional macro assets. David Duong, Global Head of Research at Coinbase Institutional, stated, “It’s rare to witness market inflection points in real-time, as we only tend to recognize major regime shifts with the benefit of time and reflection. This week’s decoupling of Bitcoin’s performance from that of traditional macro assets may be as close as we come to such a moment. In our view, this divergence highlights bitcoin’s maturing role as a store-of-value asset—one that is increasingly being viewed by institutional and retail investors alike as resilient against the macroeconomic forces affecting risk assets more broadly.” Swiss National Bank Dismisses Bitcoin Reserve An official from the Swiss National Bank has dismissed calls for adding Bitcoin to its reserves as a hedge against the ongoing macroeconomic turmoil. According to a report by Reuters, Swiss National Bank Chairman Martin Schlegel stated that cryptocurrency cannot fulfill the requirements of Switzerland’s currency reserves. The comments come amid growing pressure from the crypto industry to add BTC to the bank’s reserves. Luzius Meisser, a board member of cryptocurrency broker Bitcoin Suisse, stated, “Holding Bitcoin makes more sense as the world shifts towards a multipolar order. The need is even more dire now that the dollar and the euro are weakening.” This is not the first time the Swiss National Bank under Schlegel has pushed back against the idea of adding Bitcoin to its reserves. Schlegel had earlier stated he did not want to create a Bitcoin reserve in Switzerland due to the asset’s volatility. Bitcoin (BTC) Price Analysis Bitcoin (BTC) has registered a marginal decline during the ongoing session as selling pressure around $95,000 prevents a push higher. The flagship cryptocurrency has had a bullish week, rising over 11%, and is on track to post its highest weekly gain since November 2024. One analyst believes BTC is gearing up for a massive price surge that could take it to $150,000 or beyond. The analyst pointed out that $89,000-$90,000 were key levels for BTC , stating that if the price fell below this level, it would have to wait for momentum to return. Additionally, Bitcoin’s Market Value to Realized Value (MVRV) has formed a Golden Cross with its 365-day Simple Moving Average (SMA). BTC has also reported a significant rise in its Apparent Demand. The indicator returned to positive territory after spending several weeks in the red. Bitcoin’s Apparent Demand measures the cumulative net demand for BTC over the past 30 days, tracking wallet accumulation and exchange outflows. An increase in this metric suggests strong buying pressure and bullish sentiment, leading to a potential rally. This is the first time since February that the Apparent Demand has turned positive, aligning with growing spot Bitcoin ETF inflows and accumulation by long-term holders. According to John Glover, chief investment officer of crypto lender Ledn, markets will remain choppy over the next week, but the flagship cryptocurrency should reclaim $100,000. “My expectations continue to be for a rally to $133-$136k into the end of this year, beginning of next.” BTC crossed the 50-day SMA on Thursday, rising 1.10% and settling at $84,956. The price lost momentum on Friday, registering a marginal drop and settling at $84,518. Sentiment changed over the weekend as BTC registered an increase of 0.61% to reclaim $85,000 and settle at $85,033. The price continued to push higher on Sunday despite selling pressure, registering a marginal increase and settling at $85,224. Bullish sentiment intensified on Monday as the price surged past $87,000 and settled at $87,508. BTC rallied on Tuesday, rising almost 7% to surge past $90,000 and settle at $93,373. Source: TradingView However, the rally lost momentum Wednesday as BTC encountered volatility and selling pressure. Despite this, the price rose 0.40% and settled at $93,749. Sellers drove BTC to a low of $91,693 on Thursday. However, buyers did not cede ground to the bears, and the price rebounded from this level to cross $94,000 and settle at $94,009. Buyers retained control on Friday as BTC registered an increase of almost 1% and $84,776, but not before reaching an intraday high of $95,865. The flagship cryptocurrency is marginally down during the current session as it attempts to overwhelm the overhead resistance. If BTC breaks above this level, it could reclaim $100,000 and push toward its all-time high. However, if the price dips below $90,000, it could signal buyer exhaustion. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

26 Apr 2025, 13:20

Swiss National Bank Rejects Bitcoin Reserve, Maintains Conservative Strategy

Swiss National Bank (SNB) President Martin Schlegel has rejected holding Bitcoin reserves , citing market liquidity and volatility as reasons for doing so. Schlegel concedes that Bitcoin can have a high level of liquidity at times, but during crises, this liquidity can become less stable. Schlegel further states that Bitcoin is well known for its volatility, experiencing wild swings in market prices, which prevents the digital asset from being used to preserve long-term value. Schlegel concluded that Bitcoin is not an appropriate asset for the SNB’s reserve at this time. The Bitcoin Initiative, a group advocating for an SNB reserve, argued that SNB investments grew by about 10% since 2015. Using a back-of-the-envelope analysis, if the SNB added 1% of Bitcoin to its reserve, it would have nearly doubled its returns. Moreover, the volatility of the SNB portfolio would have only increased slightly. The Bitcoin Initiative concluded that Bitcoin’s volatility should not be analyzed in isolation, but rather considered in conjunction with the other assets in the current portfolio. The Bitcoin Initiative further noted that Bitcoin was resilient to market stress, highly liquid even with large sums of capital, and remained available even on bank holidays. Schlegel, however, disagreed with the Bitcoin Initiative and said a reserve needs a high level of liquidity to buy and sell foreign currencies at a rapid rate. He also reiterates that Bitcoin has very high volatility, making it difficult for the SNB to include it in its portfolio. Schlegel states that SNB needs to maintain control over the reliability of the bank’s reserves. The extremely high volatility of Bitcoin makes the currency a risky asset for the bank. SNB, therefore, maintains a conservative stance regarding cryptocurrencies, despite many advocates pushing for a Bitcoin reserve. There is a lot of interest in adopting a Bitcoin reserve in Switzerland. Yet, at this point, SNB’s Schlegel is not convinced about the suitability of Bitcoin for the Swiss bank. The Bitcoin Initiative, meanwhile, believes that the SNB should urgently consider a Bitcoin reserve to offset the risks caused by Trump’s tariffs. They believe that the bank should consider diversifying its reserves and include a currency that has been referred to as digital gold. A referendum campaign has started to change the constitution and force the SNB to hold both Bitcoin and gold reserves. Schlegel, however, remains firm with his strategy, saying that liquidity and volatility are factors that discount Bitcoin. He claims that the bank should be able to buy and sell currencies at any time. Schlegel has opposed the idea of a Bitcoin reserve in the past. Last month, he stated that the SNB has no plans to buy cryptocurrencies. He argued that foreign exchange reserves are strictly for implementing monetary policy. Schlegel mentioned that crypto proves difficult to preserve value over time due to its significant price fluctuations. He also pointed out that crypto was software and could be prone to security risks such as data breaches and software bugs. Time will tell whether the SNB will change its strategy or maintain a conservative approach focused on implementing monetary policy.

26 Apr 2025, 13:02

Bitcoin ETFs See $3B Surge, Mark First Full Week of Inflows Since March

Bitcoin ETFs have their best week since March United States spot Bitcoin ETFs have made a spectacular comeback, attracting over $3 billion in inflows this week. It is their first back-to-back winning week in five weeks. The 11 spot Bitcoin ETFs alone received $380 million in inflows on April 25, according to Farside data. It was the previous time momentum was this high during the week ended March 21, showing a strong bounce back of investor sentiment in investment products tied to Bitcoin. Analyst: Bitcoin ETFs ‘Shift from 1st Gear to 5th Gear ETF analyst Eric Balchunas attributed the swift turnaround, describing it as a Bitcoin “bender,” in an April 24 tweet. Balchunas cited the rapid surge in inflows, noting how rapidly sentiment can turn from conservative to bold. He speculated that the “basis trade” could have been partially responsible, wherein investors arbitrage the price difference between spot Bitcoin and futures contracts. April Turns Positive Despite Earlier Volatility April has been a volatile month for Bitcoin ETFs, with nine of the first 18 trading days seeing outflows. But the recent buying rush has totally transformed the scenario. Due to this strong week, April’s total net inflows have become positive, standing at around $2.26 billion. This turn of events illustrates how spot Bitcoin ETFs can quickly bounce back even in the face of greater macroeconomic uncertainty. Institutional Optimism Boosts Bitcoin Sentiment Institutional enthusiasm continues to grow. MicroStrategy founder Michael Saylor, speaking at the Bitwise Invest Bitcoin Corporations Investor Day, boldly predicted that BlackRock’s iShares Bitcoin ETF could become the largest ETF globally within the next decade. Meanwhile, BlackRock’s IBIT was recently honored with two major accolades — “Best New ETF” and “Crypto ETP of the Year” — at the etf.com annual awards ceremony, further boosting its credibility among investors. Bitcoin Price Outlook Is Bullish Bitcoin’s price remains steady, in the $94,600 zone at this time of writing. Institutions are getting increasingly bullish about Bitcoin in the long term. ARK Invest, for instance, recently published revised Bitcoin price targets, elevating its “bull case” to $2.4 million by 2030. Even its “bear” and “base” case projections have surged significantly, underlining a widespread view that Bitcoin is solidifying its status as “digital gold” in a rapidly fluidizing financial world.

26 Apr 2025, 12:56

Cathie Wood’s Ark Invest Raises Bullish Bitcoin Forecast To $2.4 Million By 2030

Cathie Wood’s billion-dollar investment manager Ark Invest has upped its bull-case Bitcoin price target to as high as $2.4 million by the end of this decade, up from a previous projection of $1.5 million, driven mainly by institutional investors and Bitcoin’s growing acceptance as “digital gold.” 2030 Bitcoin Bull Case In an April 24 report, Ark Research analyst David Puell wrote that the January 2024 bull case price projection for Bitcoin was around $1.5 million . But using the company’s latest experimental model, which is based on total addressable market and projected market penetration across multiple sectors, Ark has now forecasted a bull-case price of $2.4 million by 2030. The bull-case projection figure, which is 60% more than Ark’s initial estimate, is based on a compound annual growth rate (CAGR) of about 72% from last December through the end of 2030. Using this new model, which Puell described as more “aggressive” than Ark’s official methodology, the report estimates a BTC price of $1.2 million in the base case and $500,000 in the bear case. “Institutional investment contributes the most to our bull case,” said Puell, who estimated that Bitcoin would reach a 6.5% penetration rate into the $200 trillion financial market in a best-case scenario (that figure does not include gold). Bitcoin’s acceptance as digital gold also contributed significantly to the ambitious estimate, with the Ark Invest strategist suggesting that the apex crypto could capture up to 60% of the precious metal’s market cap by the end of 2030 in a bull scenario. Bitcoin’s use as a haven in emerging markets was another major contributor to ARK’s $2.4 million bull case forecast. Ark Invest also factored adoption for nation-state and corporate treasury holdings into its Bitcoin price predictions. “We also believe that this more experimental exercise highlights that Bitcoin’s scarcity and lost supply are not reflected in most valuation models today,” Puell added. Will Bitcoin Rocket By 2,400% By 2030? At the time of writing, Bitcoin was trading at $95,151, according to data from CoinGecko. Reaching the $2.4 million Bitcoin price tag would represent a 2,426% increase, which would put BTC’s market cap at a whopping $49 trillion. A $49 trillion valuation would be significantly larger than the combined gross domestic products of the United States and China. It would also position Bitcoin to usurp gold as the largest asset in the world, which currently boasts a market cap of $22 trillion. While Ark’s prediction reflects their strong belief in Bitcoin, it remains to be seen whether the apex crypto can indeed reach those lofty heights.