Market
Bybit Hack, SEC Lawsuits, and Bitcoin ETFs

This week in crypto, the Lazarus Group stole $1.5 billion from Bybit, yet the exchange has sustained the damage and remained operational. US Bitcoin ETFs saw a record $2.6 billion outflow turning BTC bearish and impacting major crypto stocks. At the same time, meme coin scams on social media are still on the rise.
On the regulatory front, the SEC dropped its lawsuit against Coinbase, prompting one Commissioner to accuse it of open corruption. Meanwhile, the recently launched Pi Network is being accepted by some Florida businesses.
Lazarus Group Pulls Off $1.5 Billion Hack
One week ago, Bybit, a leading crypto exchange, was hacked. With $1.5 billion in damages, it was the most successful crime in crypto history. A few conflicting narratives circulated throughout the community, but famous sleuth ZachXBT cracked the case.
The culprit was none other than the Lazarus Group, a North Korean hacker collective.
“At 19:09 UTC today, ZachXBT submitted definitive proof that this attack on Bybit was performed by the Lazarus Group. His submission included a detailed analysis of test transactions and connected wallets used ahead of the exploit, as well as multiple forensics graphs and timing analyses. The submission has been shared with the Bybit team,” Arkham claimed.
The Lazarus Group conducted a sophisticated security breach that sought to exploit Bybit’s wallet signing process. Safe Wallet confirmed that the hackers were able to breach its infrastructure but claimed its smart contracts remain secure.
Several community figures criticized its statement as too vague. Bybit, for its part, has rebuilt its reserves through several methods. The industry and crypto community have applauded the exchange’s excellent crisis management.
SEC Drops Coinbase Lawsuit, Dissension in the Ranks
After hinting that it would do so for weeks, the SEC finally dropped its lawsuit against Coinbase this week. Brian Armstrong, the crypto exchange’s founder and CEO, pre-emptively announced that he and the SEC struck a deal, but it took a few days for everything to finalize.
“Great news! After years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country, we reached an agreement with SEC staff to dismiss their litigation against Coinbase. Once approved by the Commission (which we’re told to expect next week) this would be a full dismissal, with $0 in fines paid and zero changes to our business,” he said.
The Commission has been dropping several lawsuits and enforcement probes into the crypto industry this week. However, the SEC’s lawsuit against Ripple is still active, and there’s no clear hint of when it will end.
Additionally, these actions have attracted criticism from within the Commission.
Earlier today, Commissioner Caroline Crenshaw publicly lambasted the SEC’s shift towards the crypto industry. She accused its leadership of willfully ignoring 80 years of precedent to deliberately favor a political faction.
Moreover, she did not offer to resign and will remain an active Commissioner for over three months. This is a shocking upset to the SEC’s normal operations.
Bitcoin Drops 17%, Damaging ETFs and Corporate Holders
Strategy (formerly MicroStrategy), one of the world’s largest Bitcoin holders, recently spent nearly $2 billion on the asset. However, this did not help the company’s stock price, following sharp drops in BTC itself.
This fueled concerns that Strategy may have to liquidate some of its crypto holdings, as it might be overleveraged into the asset.
“Forced liquidation of MSTR is not necessarily impossible. But, it is highly unlikely. It would need a “mayday” situation to occur,” one commentator claimed.
Since those rumors started two days ago, things have gotten worse. Several key metrics are showing a decline in Bitcoin, and it’s proved contagious. Bitcoin ETFs had $2.6 billion in outflows this week, and corporate Bitcoin holders like Strategy and Tesla are all dropping.
Liquidations are up, and the Federal Reserve is predicting economic downturns; it looks like a bear market.
Pi Network Gets Institutional Adoption in Florida
Pi Network, one of the highly-anticipated crypto projects, made new headway in institutional acceptance this week. According to several social media posts, a Florida real estate company is now accepting Pi tokens. Cube Motor, a car dealership in the state, also set up similar infrastructure.
“American film producer and actor James J Zito is currently the director of Zito Realty, a real estate company in Florida, USA, which accepts real estate transactions with Pi coins,” the post read.
Pi Network is generating huge amounts of hype, with Binance’s community overwhelmingly voting to list the token. However, not everyone in the crypto sphere is thrilled with the project.
Before the hack, Bybit CEO Ben Zhou called the project a scam and a pyramid scheme. Its price is showing a few signs of market fatigue, but nothing definitive has happened yet.
Meme Coin Scams Are On the Rise
Kanye West, a famous American rapper, may or may not be wrapped up in a social media scam. Earlier this month, he denied involvement with any extant Kanye meme coin but allegedly planned to launch his own.
However, some crypto sleuths are speculating that he sold his X account to Barkmeta for $17 million, enabling a major fake token scam.
“Kanye West sold his X account for $17 million. The most anticipated meme coin launch is Barkmeta’s rug pull. The chance of YE’s sold account is above 95%. I do not recommend you to buy Kanye’s meme coin in any case,” a sleuth named Blade claimed.
A scam-centric paranoia is circulating through the crypto space, and the Bybit hack is only helping matters. Pump.fun’s social media account was hacked to promote a scam this week.
After the initial posts were deleted, the hackers were able to advertise another scam on the same page minutes later. Fears are building that this chaos is damaging the industry’s reputation.
In short, a lot has happened in crypto this week. Major crimes and bearish market conditions go alongside political developments and institutional adoption.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Onyxcoin (XCN) Shows Reversal Signs After 200% Rally

Onyxcoin (XCN) is down nearly 10% over the past seven days, cooling off after a sharp 200% rally between April 9 and April 11. Momentum indicators suggest that the bullish trend may be losing strength, with both the RSI and ADX showing signs of fading conviction.
While XCN’s EMA lines remain in a bullish formation, early signs of a potential reversal are emerging as short-term averages begin to slope downward. The coming days will be key in determining whether Onyxcoin can stabilize and resume its climb—or if a deeper correction is on the horizon.
Onyxcoin Shows Early Signs of Stabilization, but Momentum Remains Uncertain
Onyxcoin’s Relative Strength Index (RSI) is currently sitting at 43. Readings above 70 typically indicate that an asset is overbought and could be due for a pullback, while readings below 30 suggest it may be oversold and poised for a potential rebound.
Levels between 30 and 70 are considered neutral, often reflecting consolidation or indecision in the market.

XCN’s RSI signals a neutral state but shows signs of gradual recovery. While not yet a clear bullish signal, yesterday’s upward move suggests that bearish momentum may be easing.
However, the fact that RSI failed to hit above 50 reflects lingering uncertainty and a lack of sustained buying pressure.
For now, XCN appears to be in a wait-and-see phase, where a continued climb in RSI could signal a shift toward renewed upside, but any further weakness might keep the price trapped in a consolidation range.
XCN Uptrend Weakens as ADX Signals Fading Momentum
Onyxcoin’s Average Directional Index (ADX) has declined to 11, down from 13.92 yesterday and 15.26 two days ago. This decline reflects a consistent weakening in trend strength.
The ADX is a key component of the Directional Movement Index (DMI) and is used to measure the strength—not the direction—of a trend on a scale from 0 to 100.
Values below 20 typically suggest that the market is trending weakly or not at all, while readings above 25 confirm a strong and established trend.

With the ADX now at 11, Onyxcoin’s trend is losing momentum, even though it technically remains in an uptrend. This low reading suggests the current bullish phase is fragile and may lack the conviction needed for sustained upward movement.
Combined with EMA lines that are beginning to flatten, the weakening ADX adds weight to the possibility that the trend could soon shift or stall.
If no surge in buying pressure emerges to reinforce the uptrend, XCN may enter a period of sideways movement or even a reversal in the short term.
Onyxcoin at a Crossroads as EMA Lines Hint at Possible Trend Reversal
XCN EMA lines remain bullish for now, with short-term averages still positioned above long-term ones.
However, the short-term EMAs have started to slope downward, raising the possibility of a looming death cross—a bearish crossover in which the short-term average falls below the long-term average.
If this crossover materializes, it would signal a shift in trend direction and could trigger a deeper pullback, after a 200% rally between April 9 and April 11, making it one of the best-performing altcoins of the previous weeks.

Key support levels to watch are $0.016, followed by $0.0139 and $0.0123. If bearish momentum accelerates, XCN could drop as low as $0.0109, marking a potential 38% correction from current levels.
On the flip side, if bulls manage to regain control and reinforce the existing uptrend, XCN could challenge the resistance at $0.020.
A breakout above that level would open the door for a potential rally toward $0.027, representing a 55% upside.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
3 Altcoins to Watch in the Fourth Week of April 2025

The crypto market has shown consistent growth over the past few days, helping altcoins alongside Bitcoin to recover. However, relying solely on broader market cues or momentum will not sustain price growth.
BeInCrypto has analyzed three altcoins for investors to watch in April, as important developments are set to unfold this week.
Tutorial (TUT)
TUT price has remained stable throughout most of the month, currently hovering below the $0.027 resistance level. Successfully breaching this barrier is crucial for recovering the 53% losses incurred in March. A price rise above $0.027 could signal a positive trend and further upward movement in the coming weeks.
If this trend continues, TUT could push toward the next resistance level of $0.039, indicating strong momentum.

However, if TUT fails to break above the $0.027 resistance, the price could decline below $0.021. Such a drop would likely invalidate the bullish outlook and lead to further losses. In that scenario, the altcoin’s price might fall to $0.015, a significant setback for the token’s recovery.
Injective (INJ)
Injective’s price has surged by 17% in recent days, fueled by anticipation surrounding the upcoming Lyota Mainnet Upgrade. Set to go live on April 22, the upgrade is expected to enhance Injective’s infrastructure, performance, and transaction speeds. This has sparked optimism, driving the price higher in the short term.
Currently trading at $8.97, Injective is nearing the $9.11 resistance level. If it successfully breaches this barrier, the price could move beyond $10.00, potentially reaching $10.35. The positive sentiment surrounding the Lyota Mainnet Upgrade is likely to continue driving the token’s growth if it can surpass these levels.

However, if Injective fails to break through the $9.11 resistance, as seen earlier in April, the price could fall below $8.40. This would signal a retreat and could see the token dip to $7.64, invalidating the bullish outlook and erasing recent gains.
BNB
BNB’s price currently stands at $604, experiencing a two-month downtrend. The altcoin is struggling to breach the resistance of $611. To push past this barrier, BNB needs strong support from the broader market or upcoming developments that could provide a catalyst for price movement and reversal.
One potential catalyst is the Lorentz opBNB mainnet hard fork, which is scheduled for today. The hard fork aims to enhance the chain’s speed and responsiveness. If successful, this could help BNB break the $611 resistance and push the price toward the next level of $647, spurring bullish sentiment.

However, if the hard fork’s impact fails to meet expectations, BNB could struggle to maintain upward momentum. In this case, the price may slip below the support of $576, potentially falling as low as $550. This would invalidate the current bullish outlook and likely continue the downtrend.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
How Will it Impact OM Price?

MANTRA CEO, JP Mullin, is burning 150 million OM tokens from his own allocation and engaging other ecosystem partners to burn an additional 150 million tokens. This 300 million OM token burn aims to restore investor trust in the project and stabilize the altcoin’s price dynamics.
OM is attempting to recover from one of the most dramatic crashes in recent crypto history. On April 13, it lost over 90% of its value in a single hour. The collapse, which erased more than $5.5 billion in market cap, triggered widespread accusations of insider activity and manipulation within the Real-World Assets (RWA) sector.
Understanding MANTRA’s Token Burn
Mantra, once one of the biggest players in the Real-World Assets (RWA) sector, suffered a dramatic collapse on April 13, with its token crashing over 90% in less than an hour and wiping out more than $5.5 billion in market capitalization.
The plunge followed a rapid surge earlier this year, when OM rose from $0.013 to over $6, pushing its fully diluted valuation to $11 billion. The crash was reportedly triggered by a $40 million token deposit into OKX by a wallet allegedly linked to the team, sparking fears of insider selling.
Panic spread quickly as rumors of undisclosed OTC deals, delayed airdrops, and excessive token supply concentration fueled mass liquidations across exchanges.
Despite co-founder John Patrick Mullin denying any wrongdoing and blaming centralized exchanges for forced closures, investors and analysts raised concerns about potential manipulation by market makers and CEXs, drawing comparisons to past collapses like Terra LUNA.

In an effort to rebuild trust, Mullin has announced the permanent burn of his 150 million OM team allocation. The tokens, originally staked at mainnet launch in October 2024, are now being unbonded and will be fully burned by April 29, reducing OM’s total supply from 1.82 billion to 1.67 billion.
This move also lowers the network’s staked amount by 150 million tokens, which could impact on-chain staking APR.
Additionally, MANTRA is in talks with partners to implement a second 150 million OM burn, potentially cutting the total supply by 300 million tokens.
OM Price Faces Critical Test as Token Burn Battles Lingering Market Doubt
Despite MANTRA’s ongoing token burn efforts, it’s still uncertain whether the move will be enough to fully restore investor confidence in OM.
From a technical standpoint, if momentum begins to recover, OM could test the immediate resistance at $0.59. A successful breakout at that level may pave the way for further gains toward $0.71, with additional key hurdles at $0.89 and $0.997 standing between the token and a return to the psychologically important $1 mark.
However, reclaiming these levels will likely require sustained buying interest and broader sentiment recovery across the Real-World Assets (RWA) sector.

On the downside, if the token burn fails to shift sentiment or if selling pressure continues, OM risks resuming its decline.
The first key support lies at $0.51, and a breakdown below that level could send the price further down to $0.469.
Given the scale of the recent crash and the lingering distrust among investors, the path to recovery remains fragile—OM now sits at a critical crossroads between a potential rebound and further erosion of its market value.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
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