A powerful new federal bill offers full tax expensing to crypto miners 
capturing flared gas, turning wasted energy into bitcoin-fueled grid 
dominance. FLARE Act Sets the Stage for US Energy Reform and Bitcoin Mining 
Expansion U.S. Senator Ted Cruz (R-TX) announced on March 31 the introduction 
of the Facilitate Lower Atmospheric Released Emissions (FLARE) Act, […]

US Senator Goes Full Bull on Bitcoin Mining With FLARE Act

VanEck&#8217;s BNB ETF filing could enhance crypto market legitimacy and 
accessibility, potentially attracting more institutional investors to the 
space.
The post VanEck registers first Binance Coin BNB ETF in US appeared first on 
Crypto Briefing.

VanEck registers first Binance Coin BNB ETF in US

Recent XRP price action has sparked a new prediction from a crypto analyst, as 
a potential Head and Shoulders pattern emerges on the chart. The analyst warns 
that this technical formation could trigger a significant price correction for 
XRP, describing this downturn as the worst-case scenario. Analyst Predicts XRP 
Price Crash To $1.15 The ‘Charting Guy,’ a pseudonymous crypto analyst on X 
(formerly Twitter), has unveiled a potential Head and Shoulder pattern 
formation on the XRP price chart. The analyst has shared insights into the 
implications of this technical pattern, projecting a potential crash in the 
XRP price. Related Reading: XRP Price Breakdown below $2: Analyst Reveals Next 
Major Support As a well-known bearish reversal pattern, the formation of a 
Head and Shoulder in the XRP price chart suggests a potential shift from an 
uptrend to a downtrend. Typically, a Head and Shoulder pattern consists of 
three peaks: the Left Shoulder, Head, and Right Shoulder. However, the 
Charting Guy has confirmed that XRP’s current pattern formation consists of 
two right shoulders and one head. Due to this irregularity, the analyst has 
expressed doubt about the possibility of the pattern playing out. If the Head 
and Shoulder pattern eventually takes shape, it could lead to a significant 
drop in the XRP price, potentially bringing it down to as low as $1.15. This 
price level aligns with a key Fibonacci Golden Pocket retracement zone between 
0.618 &#8211; 0.786. Notably, the analyst has described this projected price crash 
as the worst-case scenario for XRP. While he believes a bearish move is 
possible, the analyst is confident that XRP’s broader market structure is 
bullish. Moreover, the Charting Guy argues that if XRP does decline to $1.15, 
it would likely serve as a healthy retracement in an overall bullish trend. He 
noted that XRP’s price has been holding the $2 level on daily closes, meaning 
its price action remains strong above support levels. This also indicates the 
possibility of an uptrend resumption that could yield higher highs and higher 
lows for XRP. Key Support And Resistance Levels To Watch The Charting Guy’s 
analysis of XRP’s potential Head and Shoulder pattern formation highlights 
several critical price levels to watch. Since XRP has consistently closed 
daily candles above $2, the analyst has determined this level as short-term 
support. Related Reading: XRP Price Set To Begin Part 2 Of Bullish Wave 5 
Movement, Here Are The Targets XRP has also been wicking during recent 
pullbacks in a crucial range between $1.7 and $1.9. As a result, the crypto 
analyst has revealed that he will be watching this area closely for a 
potential price bounce. The Golden Pocket retracement zone, which represents 
the worst-case scenario for the XRP price, is between $1.15 and $1.30. If XRP 
experiences a deeper price correction, lower support levels have been marked 
from $1.19 to $0.91. For its resistance levels, the Charting Guy has 
pinpointed $2.27 as a key price point. Additionally, $3.14 &#8211; $3.32 has been 
identified as an upper resistance range where XRP could rally if bullish 
momentum resumes. Featured image from Medium, chart from Tradingview.com

XRP Price Prediction: Analyst Reveals ‘Worst Case Scenario’ With Head And Shoulders Formation

Grayscale has filed with the SEC to list its digital large cap fund as an ETF 
on NYSE Arca, offering exposure to bitcoin, ethereum, XRP, solana, and 
cardano. Grayscale’s Digital Large Cap Fund Targets NYSE Arca Listing for 
Broader Crypto Exposure Crypto asset manager Grayscale Investments filed a 
Form S-3 registration statement with the U.S. […]

Grayscale Seeks SEC Approval to List Crypto ETF With BTC, ETH, XRP, SOL, ADA Holdings

Despite Bitcoin&#8217;s 2.2% gains on April 1, BTC (BTC) hasn&#8217;t traded above $89,000 
since March 7. Even though the recent price weakness is often linked to the 
escalating US-led global trade war, several factors had already been weighing 
on investor sentiment long before President Donald Trump announced the 
tariffs.
Some market participants claimed that Strategy&#8217;s $5.25 billion worth of 
Bitcoin purchases since February is the primary reason BTC has held above the 
$80,000 support. But, regardless of who has been buying, the reality is that 
Bitcoin was already showing limited upside before President Trump announced 
the 10% Chinese import tariffs on Jan. 21.
_Gold/USD (left) vs. Bitcoin/USD (right). Source: TradingView / Cointelegraph_
The S&amp;P 500 index hit an all-time high on Feb. 19, exactly 30 days after the 
trade war began, while Bitcoin had repeatedly failed to hold above $100,000 
for the previous three months. Although the trade war certainly affected 
investor risk appetite, strong evidence suggests Bitcoin&#8217;s price weakness 
started well before President Trump took office on Jan. 20.
## Spot Bitcoin ETFs inflows, strategic Bitcoin reserve expectations and 
inflationary trends
Another data point that weakens the relation with tariffs is the spot Bitcoin 
exchange-traded funds (ETFs), which saw $2.75 billion in net inflows during 
the three weeks following Jan. 21. By Feb. 18, the US had announced plans to 
impose tariffs on imports from Canada and Mexico, while the European Union and 
China had already retaliated. In essence, institutional demand for Bitcoin 
persisted even as the trade war escalated.
Part of Bitcoin traders&#8217; disappointment after Jan. 21 stems from excessive 
expectations surrounding President Trump&#8217;s campaign promise of a &#8220;strategic 
national Bitcoin stockpile,&#8221; mentioned at the Bitcoin Conference in July 2024. 
As investors grew impatient, their frustration peaked when the actual 
executive order was issued on March 6.
A key factor behind Bitcoin&#8217;s struggle to break above $89,000 is an 
inflationary trend, reflecting a relatively successful strategy by global 
central banks. In February, the US Personal Consumption Expenditures (PCE) 
Price Index rose 2.5% year-over-year, while the eurozone Consumer Price Index 
(CPI) increased by 2.2% in March.
## Investors turn more risk-averse following weak job market data
In the second half of 2022, Bitcoin&#8217;s gains were driven by inflation soaring 
above 5%, suggesting that businesses and families turned to cryptocurrency as 
a hedge against monetary debasement. However, if inflation remains relatively 
under control in 2025, lower interest rates would favor real estate and stock 
markets more directly than Bitcoin, as reduced financing costs boost those 
sectors.
_US CPI inflation (left) vs. US 2-year Treasury yield (right). Source: 
TradingView_
 _**Related:**__**Coinbase sees worst quarter since FTX collapse amid industry 
bloodbath**_
The weakening job market also dampens traders&#8217; demand for risk-on assets, 
including Bitcoin. In February, the US Labor Department reported job openings 
near a four-year low. Similarly, yields on the US 2-year Treasury fell to a 
six-month low, with investors accepting a modest 3.88% return for the safety 
of government-backed instruments. This data suggests a rising choice for risk 
aversion, which is unfavorable for Bitcoin.
Ultimately, Bitcoin&#8217;s price weakness stems from investors&#8217; unrealistic 
expectations of BTC acquisitions by the US Treasury, declining inflation 
supporting potential interest rate cuts, and a more risk-averse macroeconomic 
environment as investors turn to short-term government bonds. While the trade 
war has had negative effects, Bitcoin was already showing signs of weakness 
before it began.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.

Cryptocurrency price in USD