Bitcoin spikes on inflation news

$30,500 is the next big challenge for Bitcoin. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap $1.23T (-0,69%) 24 Hour Volume $45.32B (-11.46%) Notable Movers[(ETC) $22.53]( (+6.23%) Notable Movers (DeFi)[(ICP) $5.42]( (+4.55%) Bitcoin Dominance 47,35%[(+0.25%)]( Bitcoin Price[(BTC) 30,136.00 (-0.23%)]( Ethereum Price[(ETH) $1,929.00 (+0.33%)]( Cardano Price[(ADA) $0,4034 (-1.44%)]( [Today’s Top Stories ]( Today’s Top Stories Ethereum's 'Shapella' upgrade looms 😱 Later today, the Ethereum blockchain will complete its latest milestone. Two upgrades called Shanghai and Capella — "Shapella," if you will — take place tonight. This means validators who have locked up their ETH in a deposit contract, some since back in December 2020, will finally be able to initiate withdrawals if they want to. Of course, the big question is how ETH's price will react… and whether it will trigger selling pressure. Past major upgrades have proved underwhelming when it comes to Ether's performance, possibly because they've already been priced in. And when it comes to whether validators will shut up shop, Glassnode estimates that just 1% of the 18.1 million ETH that's within the deposit contract will be offloaded. Bitcoin spikes as inflation cools 📈 Long-awaited Consumer Price Index figures from the U.S. have landed. Inflation during March came in at 5% — slightly less than the 5.1% economists forecast. While still above the target rate of 2%, this is their lowest level in two years. All of this will fuel analyst expectations that the Federal Reserve is going to slow the pace of interest rate hikes. CoinMarketCap data shows that BTC neared $30,500 on Wednesday — but failed to accelerate beyond this. The world's biggest cryptocurrency has risen by 6.67% over the past week, comfortably outperforming most major altcoins. And Bitcoin's dominance — its overall share of the total market cap — is continuing to creep up and currently sits at 47.4%. MicroStrategy *briefly* back in the black 💰 For much of 2022, MicroStrategy was on the losing side of an enormous bet. But now, the business intelligence firm is on the brink of changing the narrative. Bitcoin's latest spike meant Michael Saylor's company was briefly sitting on a modest profit when it came to its vast warchest of 140,000 BTC. At the time of writing, MicroStrategy has spent $4.28 billion on its Bitcoin reserves — and they have a value of $4.2 billion. Of course, this is still a long way off the many billions of dollars in paper profits that the company had enjoyed at the peak of the 2021 bull run. But Saylor is holding firm — and has continued to increase MicroStrategy's Bitcoin allocation in recent months. He regularly points to how BTC was the top-performing asset class in Q1. Elon Musk bares all in BBC interview 📰 Billionaire crypto enthusiast Elon Musk has given a hastily arranged interview to the BBC, in which he admitted that the "pain level has been extremely high" since he bought Twitter. The CEO revealed that he often sleeps in the office because of his punishing workload, which also involves running Tesla. He also acknowledged that some of his past tweets had been controversial — and conceded that tweeting after 3am isn't a good idea. While there wasn't much discussion on crypto matters in the live interview — days after he inexplicably changed the website's logo to Doge — he did claim that Twitter is back to breaking even after wooing back advertisers. "It's not been boring. It's been quite a rollercoaster," Musk said. Ex-banker charged with crypto fraud 🚨 A former investment banker has been charged with operating a crypto investment fraud scheme. Rashawn Russell was arrested in Brooklyn and is accused of defrauding numerous investors to fund a lavish lifestyle. As is common in such cases, it's alleged that he had promised victims large and "guaranteed" returns. But in reality, it's claimed this capital was used for gambling, extravagant purchases and repaying other investors. One victim who requested to withdraw their funds was allegedly sent a doctored wire transfer confirmation to make it seem like the transaction had been finalized. Russell is 27 years old and used to work for Deutsche Bank. If he's convicted, he faces up to 20 years behind bars. Thanks for reading! Have a great day — more news tomorrow! [Facebook]( [Twitter]( [Instagram]( [Telegram]( Brought to you with❤️ from CMC Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? [Sign up here]( for Daily Newsletters, Promotions and Events and Prices [ADVERTISE]( | [CAREERS]( | [FAQ]( © 2023 CoinMarketCap [Unsubscribe]( [coinmarketcap.com]( CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States