Crypto And Markets Crash Warnings Grow, Traders Fearful And North Korea Hacked Axie

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Last Updated on 19 April 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Global investors were fearful to see where US tech indexes would be going after a long Easter holiday weekend which was plagued by the war in Ukraine and a lockdown in Shanghai.

Both geopolitical events could have lasting consequences. An early indication of where stocks were headed could be seen in crypto markets, which fell on Monday and rebounded on Tuesday.

Bitcoin traded well below $40,000 on Monday morning (it is now trading above it again) with many in the MSM now repeating the warning we sounded already last week.

That warning came after Arthur Hayes, the co-founder of crypto exchange BitMEX, claimed he expected a crypto crash by June. With markets also looking south for indication and the Fed about to raise interest rates, fears of so-called ‘capitulation’ both in stocks and crypto are growing.

The signal for a break of the mild upward trend would be a consolidation below the $38,000 per bitcoin levels,” Alex Kuptsikevich, FxPro senior market analyst, explained “If the bulls capitulate, the first cryptocurrency could be pushed into the $32,o00 to $35,000 range without much resistance. A consolidation scenario below $30,000 would require an absolute disaster in the financial markets.

Given that the Bitcoin fear and greed index moved to ‘extreme fear’ on Monday, it is clear that traders are sharing this sentiment now.

Advertentie.

Axie Hack Involved North Korea

Lastly, you may remember that this year’s biggest crypto hack so far was for $600 million from the Ronin blockchain, which powers the popular metaverse game Axie infinity. According to FBI documents released last week, the Lazarus Group, which is associated with North Korea, was behind that particular hack.

We never figured that Kim Kung Un had already caught on to the metaverse but apparently he’s into that as well.