Bitcoin Plunges and Dogecoin Surges: A Crypto Weekend Recap

Weekly Bitcoin Woes

As we approached April 10, Bitcoin (BTC) was gearing up for one of its roughest weekly closures yet this month. With the prices hovering around $42,700, traders were forced to do a little dance with disappointment, as losses approached a staggering 10%. Not the glamorous performance everyone hopes for during the weekend.

Trader Insights: A Shot at Redemption

Amidst the turbulence, prominent trader Rekt Capital offered a silver lining. Declaring this pullback as “a second chance for many,” Rekt reminded the audience to stick to their resolutions about buying BTC when prices plunge. “If you promised yourself you’ll buy BTC when it dips, now’s your chance—don’t miss it!” His optimism felt like a hot cup of coffee on a Monday morning.

Technical Support: Riding the Wave of Moving Averages

Despite the gloomy forecast, Rekt Capital pointed at three moving averages being tested as support levels, giving traders a reason to hope. Historically, these averages marked the beginning of “strong bullish momentum.” After all, anything above approximately $38,000 is considered a macro Higher Low for BTC. A bit of math never hurt anyone, right?

Macro Factors and Future Predictions

The larger economic climate had its fingers in the pie of Bitcoin’s struggles. Concerns over US dollar strength left investors feeling as shaky as a cat on a hot tin roof. Michaël van de Poppe, another crypto sage, predicted that the next bull run is just around the corner, waiting for the dollar to show signs of weakness. “Once the DXY is topped out, we’re in for an epic ride!” Double-dare those who dare to be a bull.

Terra’s Buying Spree and Dogecoin’s Day in the Sun

In a world filled with uncertainty, the Terra protocol continued its dogged pursuit of BTC, adding over 4,130 Bitcoins to its wallet. This purchase pumped the wallet’s holdings to around $1.7 billion. If that doesn’t scream confidence, I don’t know what does. Meanwhile, outside the top ten cryptocurrencies, Dogecoin (DOGE) managed to gain 8.3% in just 24 hours, riding the fame train of Elon Musk’s latest antics. “Maybe payments in Doge?” he mused, leaving all of us wondering if that would make buying tacos that much cooler.