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Bitcoin struggles below $64k ahead of the halving: Will it plunge lower?

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Bitcoin mining

Key takeaways

  • BTC continues to struggle below the $64k level ahead of the Bitcoin halving event in two days.
  • Bitbot’s presale is now above $2.5 million.

Bitcoin stays below $64k ahead of halving

Bitcoin has been struggling in recent weeks and could record further losses if the market condition persists. At press time, the price of Bitcoin stands at $63,030, up by less than 1% in the last 24 hours. 

The poor performance comes ahead of the Bitcoin halving event in two days. The Bitcoin halving will see Bitcoin mining rewards slash by 50% from 6.25 BTC per block to 3.125 BTC.

Historically, the halving event leads to a massive surge in Bitcoin’s price. However, it remains unclear how Bitcoin will perform in the near term. 

What is Bitbot? 

While Bitcoin and other major altcoins continue to underperform, some presales are generating record funding from investors. Bitbot is one of the projects that is raising capital from investors to address certain pain points in the market.

Bitbot is a Web3 project that is set to bring unique value propositions to traders in the cryptocurrency space. It is a Telegram trading bot that puts the power in the hands of the user. 

The project describes its product as a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. Bitbot provides traders with an innovative way of trading and is leveraging Telegram’s position as a leading social media platform for crypto users. 

It is set to provide users with high-end features to help traders grow their trading portfolios. The right level of adoption could see Bitbot become one of the most widely used tools by cryptocurrency traders. 

Bitbot’s tech could improve trading chances

To improve the trading chances of its users, Bitbot will be introducing a wide range of tech innovations. Per their whitepaper. Bitbot will leverage the Knightsafe to offer a self-custody solution. This solution helps in mitigating the typical risks associated with Telegram trading.

The team is currently developing anti-MEV and anti-rug solutions to help users protect their assets. With these features, traders can protect themselves from bots artificially pumping transaction costs and block scam projects.

Some of the funds generated from the presale will also be used to integrate Ultra-flexible wallet management fuelled by non-custodial API technology. 

The copy-trading feature will enable traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale hits $2.5m

The Bitbot presale is now in its tenth stage and is now moving swiftly. So far, the project has raised $2,506,930 of the required $2,518,000 in this current stage. 

Bitbot continues to raise funds from investors despite the poor market conditions. The $BITBOT token is going for $0.0155 in the current presale round and will increase to $0.0163 once the eleventh round commences. 

The whitepaper indicated that the Bitbot development team will hold 20% of the total token supply and will use it to fund ongoing development. Furthermore, 14% is allocated to marketing & CEX listings while 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale. 

Should you buy the Bitbot token now? 

While the crypto market has been underperforming in recent weeks, Bitbot’s presale continues to attract more investors. The project seeks to take advantage of the growing trading volume in the market to attract more users. 

Bitbot is looking to gain massive adoption in the market by offering unique technologies that would allow traders to improve their trading activities. BITBOT could become one of the biggest winners in this cycle with the right level of adoption. As trading volume in the market increases, BITBOT could also see a surge in adoption if it rolls out its features and solutions.



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Coinbase Stock Plunges 30% in Worst Quarter Since FTX Collapse

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Coinbase, the largest US crypto exchange, has recorded its worst quarter since the dramatic collapse of FTX in late 2022.

Coinbase’s stock (COIN) plummeted by 30% in Q1 2025, mirroring the steep losses seen across the broader crypto market.

Crypto Stocks and Assets Bleed Red in Q1

According to Bloomberg, the sharp decline has hit several other major crypto-related stocks as well. This includes Galaxy Digital, Riot Blockchain, and Core Scientific, all of which have experienced significant downturns.

Crypto Stocks in the Red Since Election Day. Source: Bloomberg

Furthermore, the broader crypto market is facing tough times. Bitcoin, which has long been considered the bellwether of digital assets, has dropped by 10% this quarter. More dramatically, Ethereum (ETH) has seen a staggering 45% decline. These losses reflect a broader downturn in the crypto market, fueled by several macroeconomic factors.

Analysts point to the global uncertainty surrounding the US economy, including concerns over Trump’s tariffs and recession fears. This has resulted in a general “risk-off” mood among investors.

“In a risk-off mood, no asset is safe stocks, crypto, all get hit. It’s more about sentiment than fundamentals in those moments,” an investor commented on X.

While some point to these macroeconomic pressures as the primary cause, others argue that the market’s underperformance is more due to lingering fears of trade wars and broader geopolitical instability.

“Trump’s trade wars are driving markets into a panic. As much as he is doing for crypto, the macro market conditions are speaking louder – as bullish as the news is from the white house – His trash trade war is squelching any price surge,” another X user remarked.

Coinbase has been hit especially hard in this downturn. Coinbase’s revenue model is heavily reliant on altcoins and transaction volumes beyond Bitcoin. Hence, the overall market drop could have made a mark on the exchange’s stock prices. Moreover, the news comes as Coinbase users have collectively lost more than $46 million to scams in March.

While crypto has been in a freefall, other assets have fared much better. Gold, for example, has surged, posting its best quarter since 1986 as investors flock to safer assets amid the market turmoil. The shift toward traditional assets is particularly noticeable as the post-election crypto hype, which briefly boosted Bitcoin’s value to $109,000, begins to fade.

Despite the overall market challenges, some crypto-related firms have shown resilience. MicroStrategy, led by CEO Michael Saylor, remains in the green year-to-date, bolstered by its substantial Bitcoin holdings.

For now, the crypto market is left to weather the storm, with analysts continuing to scrutinize the interplay of macroeconomic factors and its impact on digital assets.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Fake Gemini Bankruptcy Emails Target Users

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Crypto scams are surging as more people flock to digital currencies, with fraudsters exploiting the industry’s rapid growth to deceive investors.

Recently, numerous crypto users reported receiving fraudulent emails claiming that the Gemini exchange had filed for bankruptcy. Meanwhile, Coinbase Exchange has admitted that an employee illegally accessed user account information.

Gemini Exchange Addresses Bankruptcy Allegations

Multiple accounts highlighted the scam on social media, indicating that an email circulating falsely claims that Gemini has filed for bankruptcy. The email instructed users to withdraw to an Exodus wallet and provided a seed phrase.

These phishing emails, shared on April 1, urged recipients to withdraw their funds into a specified crypto wallet to protect their assets. This was an attempt to deceive users into transferring their cryptocurrencies to wallets controlled by scammers.

“Do not follow these directions. Please retweet to protect those that may have been doxxed and sent this email,” wrote Jason Williams, a contributor to Fox Business.

Phishing email targeting Gemini users
Phishing email targeting Gemini users. Source: Jason Williams on X

The deceptive emails alleged a substantial loss of $1.2 billion by Gemini Exchange. Understandably, some novice investors would heed this email and even move their assets to the address. After all, some victims of FTX Exchange contagion continue to pursue their funds even years after the incident.

“I got one also. It is better than your typical ‘Coin Base’ one, but still not quite there. Might fool a boomer though,” one X user remarked.

However, security experts advise users to always verify information through official channels, avoid clicking on unsolicited links, and refrain from sharing personal data. Gemini issued an official warning in response to the scam, acknowledging the threat against its users.

“We recently learned that some Gemini customers are being targeted with scam emails requesting users to transfer their crypto to outside wallets. Please be aware that Gemini will never request that you send crypto to outside wallets,” the exchange articulated.

Coinbase Admits Employee Illegally Accessed User Account Data

Coinbase exchange acknowledged a privacy violation by one of its staff in a somewhat related development. Specifically, a customer service employee accessed user account information without authorization.

This breach has raised concerns about potential scams targeting Coinbase users. Mike Dudas, a crypto investor and co-founder at The Block, shared an email from Coinbase acknowledging the incident.

“That explains the fake Coinbase phishing emails and phone calls today,” he stated.

Coinbase note to customers
Coinbase note to customers. Source: Mike Dudas on X

This breach coincides with reports of phishing attempts, as users have received fake emails and calls purporting to be from Coinbase. These incidents reflect a broader wave of crypto-related fraud.

Blockchain investigator ZachXBT reported that Coinbase users lost over $65 million to social engineering scams between December 2024 and January 2025.

“Coinbase did not detect it; I sent them the intel,” the blockchain investigated noted.

Additionally, crypto analyst Cobie suggested Kraken might be experiencing a similar issue. Per his post, a new attack may be budding, where attackers infiltrate customer service roles to exfiltrate data.

“Kraken also recently hit with this too. Maybe a new scheme from attackers (get a CS agent employee in, exfil data),” the analyst remarked.

Amidst these events, ZachXBT recently explained how to avoid crypto scams. He emphasizes the importance of conducting thorough research before engaging with new DeFi protocols, especially those forked from existing projects on newly launched EVM chains.

Additionally, he advises caution when dealing with projects with few credible followers, as these may indicate potential scams.

Therefore, it is imperative that users remain vigilant against sophisticated phishing scams and unauthorized data breaches.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Price Struggles as Whale Selling Rises To $2.3 Billion

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XRP has been on a consistent downtrend in recent days, with its price falling sharply and approaching the $2 mark. This has resulted in extended losses for the cryptocurrency, with a notable rise in selling pressure.

Despite the bearish momentum, key investors are trying to offset the negative impact.

XRP Whales Are Uncertain

Whale activity has been a major factor contributing to the recent decline in XRP’s price. Addresses holding between 100 million and 1 billion XRP have sold over 1.12 billion XRP, worth $2.34 billion, in the past seven days. This has brought their total holdings down to 8.98 billion XRP. 

The selling activity from these whale addresses reflects a cautious outlook for XRP. While whale selling often indicates uncertainty in the market, it’s important to note that their behavior can also have significant short-term price movements. The recent heavy selling could signal that market participants are unsure about the short-term price action, and further bearish trends could follow if this continues.

XRP Whale Holdings
XRP Whale Holdings. Source: Santiment

On the broader market level, XRP’s macro momentum shows signs of divergence from the whale selling. The Liveliness metric, which tracks the behavior of long-term holders (LTHs), is currently declining.

A falling Liveliness typically signals that LTHs are accumulating more of the asset at lower prices rather than selling. This drop to a three-month low suggests that long-term holders are sticking to their conviction and accumulating XRP, even as whale selling intensifies.

The steady accumulation of LTHs might help cushion the bearish effects created by the whales. This behavior can counteract the selling pressure, potentially offering stability to XRP’s price and supporting a recovery if market conditions improve.

XRP Liveliness
XRP Liveliness. Source Glassnode

XRP Price Needs To Find Direction

XRP’s price has fallen by 14.5% this week, bringing it to $2.09, which is dangerously close to losing the critical $2.02 support level. The ongoing bearish momentum has created mixed signals in the market, which are likely to keep the price stuck in a narrow range for the time being.

If XRP can bounce back from the $2.02 support, it could recover some of the recent losses. However, the altcoin may remain consolidated below the $2.27 resistance level unless more positive news or market conditions arise to push it higher.

XRP Price Analysis
XRP Price Analysis. Source: TradingView

If XRP breaks through the $2.27 barrier or falls below $2.02, it could invalidate the current consolidation outlook. A successful breach of $2.27 could pave the way for a price recovery, with $2.56 being the next significant target.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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