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Recent Price Action Shows Signs of Recovery

In the last 100 minutes of trading, DOGE has demonstrated a notable recovery pattern, climbing from a local bottom of $0.156 to stabilize around $0.158.

The price action shows an apparent V-shaped recovery with significant volume spikes (16-21 million) during the bottoming process around 14:50-14:52, indicating strong buyer interest at support levels.

The $0.158-$0.159 zone has emerged as immediate potential resistance, with multiple tests showing decreasing selling pressure. This recovery aligns with the 38.2% Fibonacci retracement level from the recent decline, suggesting potential continuation toward the 50% retracement at $0.160 if current momentum persists.

Dogecoin Technical Indicators

Price Range: DOGE traded between $0.179–$0.156, representing a 12.7% swing.

Volatility: 48-hour annualized volatility reached 86.3%, significantly above market norms.

Support/Resistance: Breakdown of $0.165 support level with new critical support zone at $0.158–$0.160.

Fibonacci Levels: Potential stabilization at the 61.8% retracement level ($0.162).

Volume Analysis: High-volume selling pressure followed by significant volume spikes (16–21 million) during recovery.

Recovery Pattern: V-shaped recovery from $0.156 to $0.158 with decreasing selling pressure at resistance.

Retracement Levels: Current price action aligns with 38.2% Fibonacci retracement with the potential move toward a 50% level at $0.160.

Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.

External References:

Times Tabloid, “Dogecoin (DOGE) Next Significant Rally? 7 Critical Levels to Watch,” accessed Apr. 3, 2025

Bitzo, “Market Weakness Strikes: Are DOGE, SHIB Set to Recover in April?” accessed Apr. 3, 2025

Times Tabloid, “Dogecoin (DOGE) at a Critical Turning Point as Key Levels Dictate Its Next Move,” accessed Apr. 3, 2025

Coinpedia, “Will Dogecoin (DOGE) Crash or Skyrocket?,” accessed Apr. 3, 2025

Finbold, “Anxiety Grips Dogecoin Holders as Major Sentiment Flips Into Bear Territory,” accessed Apr. 3, 2025

Luxor Technology wants to make bitcoin mining easier. That’s why the firm has rolled out a panoply of products (mining pools, hashrate derivatives, data analytics, ASIC brokerage) to help bitcoin miners, large and small, develop their operations.

Aaron Forster, the company’s director of business development, joined in October 2021, and has seen the team grow from roughly 15 to 85 people in the span of three and a half years.

Forster worked a decade in the Canadian energy sector before coming to bitcoin mining, which is one of the reasons why he’ll be speaking about the future of mining in Canada and the U.S. at the BTC & Mining Summit at Consensus this year, May 14-15.

In the leadup to the event, Forster shared with CoinDesk his thoughts on bitcoin miners turning to artificial intelligence, the growing sophistication of the mining industry, and how Luxor’s products enable miners to hedge various forms of risk.

This interview has been condensed and edited for clarity.

Mining pools allow miners to combine their computational resources to have higher chances of receiving bitcoin block rewards. Can you explain to us how Luxor’s mining pools work?

Aaron Forster: Mining pools are basically aggregators that reduce the variance of solo mining. When you look at solo mining, it’s very lottery-esque, meaning that you could be plugging your machines in and you might hit block rewards tomorrow — or you might hit it 100 years from now. But you’re still paying for energy during that time. At a small scale, it’s not a big deal, as you scale that up and create a business around it.

The most common kind of mining pool is PPLNS, which means Pay-Per-Last-N-Shares. Basically, that means the miner does not get paid unless that mining pool hits the block. That’s also due to luck variance, so it’s no different from that solo miner’s situation. However, that creates revenue volatility for those large industrial miners.

So we’re seeing the emergence of what we call Full-Pay-Per-Share, or FPPS, and that’s Luxor is operating for our bitcoin pool. With FPPS, regardless of whether we find a block or not, we’re still paying our miners their revenue based on the number of shares they’ve submitted to the pool. That gives revenue certainty to miners, assuming hashprice stays the same. We’ve effectively become an insurance provider.

The problem is that you need a very deep and strong balance sheet to support that model, because while we’ve reduced the variance for miners, that risk is now put on us. So we need to plan for that. But it can be calculated over a long enough period of time. We have different partners in that regard, so that we don’t bear the full risk from our balance sheet.

Tell me about your ASIC brokerage business.

We’ve become one of the leading hardware suppliers on the secondary market. Primarily within North America, but we’ve shipped to 35+ countries. We deal with everybody from public companies to private companies, institutions to retail.

We’re primarily a broker, meaning we match buyer and seller, mostly on the secondary market. Sometimes we do interact with ASIC manufacturers, and in certain cases we do take principal positions, meaning we use money from our balance sheet to purchase ASICs and then resell them on the secondary market. But the majority of our volume comes from matching buyers and sellers.

Luxor also launched the first hashrate futures contracts.

We’re trying to push the Bitcoin mining space forward. We’re a hashrate marketplace, depending on how you look at our mining pools, and we wanted to take a big leap and take hashrate to the TradFi world.

We wanted to create a tool that allows investors to take a position on hashprice without effectively owning mining equipment. Hashprice is, you know, the hourly or daily revenue that miners get, and that fluctuates a lot. For some people it’s about hedging, for others it’s speculation. We’re creating a tool for miners to sell their hashrate forward and use it as a basic collateral or a way to finance growth.

We said, ‘Let’s allow miners to basically sell forward hashrate, receive bitcoin upfront, and then they can take that and do whatever they need to do with it, whether it’s purchase ASICs or expand their mining operations.’ It’s basically the collateralization of hashrate. So they’re obligated to send us X amount of hashrate per month for the length of the contract. Before that, they’ll receive a certain amount of bitcoin upfront.

There’s a market imbalance between buyers and sellers. We have a lot of buyers, meaning people and institutions wanting to earn yield on their bitcoin. What you’re lending your bitcoin at is effectively your interest rate. However, you could also look at it like you’re purchasing that hashrate at a discount. That’s important for institutions or folks that don’t want physical exposure to bitcoin mining, but want exposure to hash price or hashrate. They can do that synthetically through purchasing bitcoin and putting it into our market, effectively lending that out, earning a yield, and purchasing that hashrate at a discount.

What do you find most exciting about bitcoin mining at the moment?

The acceptance and natural progression of our industry into other markets. We can’t ignore the AI HPC transition. Instead of building these mega mines that are just massive buildings with power-dense bitcoin mining operations, you’re starting to see large miners turning into power infrastructure providers for artificial intelligence.

Using bitcoin mining as a stepping stone to a larger, more capital intensive industry like AI is exciting to me, because it kind of gives us a bit more acceptance, because we’re coming at it from a completely different angle. I think the biggest example is the Core Scientific-CoreWeave deal structure, how they’ve kind of merged those two businesses together. They’re complimentary to each other. And that’s really exciting.

When you look at our own product roadmap, we have no choice but to follow a similar roadmap to bitcoin miners. A lot of the products that we built for the mining industry are analogous to what is needed at a different level for AI. Mind you, it’s a lot simpler in our industry than in AI. We’re our first step into the HPC space, and it’s still very early days there.

Investment company Republic is set to acquire crypto trading firm INX Digital (INXDF) at a valuation of up to $60 million.

Republic subsidiary Republic Strategic Acquisition will acquire all issued and outstanding shares of INX, according to an announcement on Thursday.

The transaction is expected to close within eight months, subject to closing conditions.

Already an existing shareholder in INX after acquiring a 9.5% stake in 2023, Republic will integrate itself fully in INX’s operations following completion of the transaction.

New York-based Republic said the acquisition will strengthen its position as a blockchain investor, creating a pathway for trading tokens and engaging in secondary market opportunities across crypto and real-world assets (RWAs).

Having opened at $0.02, INXDF’s shares spiked to $0.16 following Thursday’s announcement before retreating to $0.09 in the following few hours.

USDC at Center of Major Financial Developments

Global economic tensions and shifting trade policies are creating subtle ripples in the stablecoin market, with USDC experiencing minor volatility while maintaining its dollar peg.

The stablecoin recently navigated a brief dip below parity before quickly recovering, demonstrating resilience amid broader market uncertainty as investors seek safe havens during geopolitical instability.

Circle’s IPO filing has revealed unprecedented insights into the stablecoin ecosystem, including the surprising arrangement where Coinbase receives half of USDC reserve revenue. With major banks JPMorgan and Citibank backing Circle’s public offering targeting a $4-5 billion valuation, the move signals growing institutional confidence in regulated stablecoins despite ongoing trade disputes affecting traditional markets.

As geopolitical tensions escalate, exchanges like Binance are reporting record stablecoin deposits, with USDC playing a crucial role in derivative trading markets.

The stablecoin’s stability has made it particularly attractive during recent market volatility, with trading volumes peaking during transition phases as investors seek protection from economic fallout related to international trade conflicts.

USDC Technical Analysis Highlights

USDC maintained a narrow trading range of 0.000829 (0.083%) with an annualized volatility of 1.58%.

Price action showed a gradual decline from 1.0006 to sub-parity levels around March 31st.

A clear support zone formed at 0.9999, with trading volumes peaking during the transition phase.

Recent price action shows a modest recovery trend with increasing buying pressure.

Higher lows and consistent volume patterns above 50M units hourly suggest renewed confidence.

A brief dip below parity (0.9999) between 09:53-09:57 marked the first sub-parity trades during the session.

Increased trading volumes peaked at 4.1M units at 09:56 during volatility

Buyers stepped in decisively to defend the peg, resulting in a stabilization of around 1.0000.

Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.

External References:

Cryptopolitan, “Binance Draws In a Record Inflow of Stablecoins,” accessed Apr. 3, 2025

CryptoNews, “Coinbase Receives 50% of Circle’s USDC Reserve Revenue, IPO Filing Reveals,” accessed Apr. 3, 2025

BitcoinWorld, “Circle IPO Eyes $5B Valuation Backed by USDC Stability,” accessed Apr. 3, 2025

CryptoNews, “Stablecoin Issuer Circle Files for IPO,” accessed Apr. 3, 2025

The Coin Rise, “Circle Files for NYSE Listing Amid Surging Stablecoin Revenue: Details,” accessed Apr. 3, 2025

Down more than 5% since President Trump’s tariff announcement on Wednesday evening sent markets plunging, bitcoin (BTC) once again is disappointing bulls who have touted its store-of-value properties or potential as a non-correlated safe haven to risk assets like stocks.

Or not.

“This moment feels like a turning point,” said Joel Kruger, LMAX Group market strategist. “We see market participants increasingly drawn to [BTC’s] appeal as a store-of-value asset and a compelling diversification tool amid the uncertainty.”

Kruger noted that while the Nasdaq and S&P 500 have each tumbled to new 2025 lows, bitcoin for the moment is holding well above its year-to-date bottom of $75,000 — what technicians like to call “higher lows.”

But Javier Rodriguez Alarcon, chief commercial officer at crypto exchange XBTO, believes otherwise.

“Despite talk that bitcoin could act as a hedge against dollar-centric volatility, in practice we’re still seeing a strong correlation between digital assets and broader risk markets in moments of uncertainty,” the ex-Goldman Sachs executive said in an email.

Gold still the preferred safe haven at JPMorgan

“Bitcoin’s volatility and correlation with equities raises questions over its ‘digital gold’ narrative,” said Nikolaos Panigirtzoglou and team at JPMorgan yesterday. “We see gold continuing to rise as the major beneficiary of the debasement trade,” they added.

Even with bitcoin’s recent pullback, the price is still above the bank’s estimated average cost of production of $62,000, a metric which has acted as a lower boundary in the past, wrote Panigirtzoglou.

Gold today is lower by just 1.25% to $3,126 per ounce and within close sight of its record high of around $3,200.

The kickstart of heavy tariffs under the Trump administration has ushered in a new chapter of uncertainty and opportunity for the crypto market, one that tends to ebb and flow with changes in the global economy.

Tariffs, by design, increase the cost of imported goods, often leading to higher inflation, shifts in supply chains, and fluctuations in currency valuations. A stronger U.S. dollar, driven by tariff-induced trade imbalances, might initially pressure crypto prices downward as investors flock to traditional safe havens.

However, prolonged economic uncertainty could fuel bitcoin’s appeal as a store of value, especially if central banks respond with loose monetary policies.

Here’s how crypto traders and market watchers are approaching the coming months — largely expecting muted price action in the near term but bullish in the medium to long term.

Rick Maeda, Research Analyst at Presto Research

Trump’s tariffs, jumping to 34% on China and 25% on cars from the 10% baseline levy, unnerved global markets and crypto was no exception.

Bitcoin sold-off into the $82k level while Ethereum got hit harder, dipping below 1,800.

Options flow-wise, there was put buying across tenors as traders hedged against further downside, but implied volatility term structures held relatively steady.

Crypto continues to be haunted by Trump’s trade policies as it faced a similar shock earlier this year when tariffs on Mexico and Canada – 25% each – were floated. Lacking a strong intrinsic narrative, the asset class remains firmly tethered to macro forces, with its macro beta keeping it closely bound to trade war developments. Structurally, a prolonged trade war could continue to batter crypto as it continues to identify as a risk asset rather than the digital gold it once was.

Enmanuel Cardozo, Market Analyst at Brickken

“Trump’s tariffs that rolled out yesterday on April 2, 2025, for a long list of countries, are stirring up the crypto industry in a big way. We saw how bitcoin was at $88,500 flirting with the $90K level but in a span of 4hrs dropped down to around $82,000.

In the short term, these tariffs are fueling a lot of volatility in what seems to me a sideways consolidation zone—, as economic uncertainty drives retail investors toward safer bets like gold or traditional investment vehicles while institutional investors continue to accumulate Bitcoin.

Add to that the broader risk-off sentiment—JPMorgan’s survey shows 51% of institutional traders see inflation and tariffs as the top market shapers this year. But looking past the immediate turbulence, there’s a potential upside for crypto in the long run.

These tariffs could weaken the dollar’s dominance by making imports pricier, which might position bitcoin as a go-to hedge against inflation.

As global trade gets more murky, crypto’s utility for cross-border transactions could potentially gain more appeal, especially with stablecoins stepping up as a workaround for tariff barriers as we’re already seeing hints of this with government-backed stablecoin adoption.

Trump’s tactic—where tariffs might act by weakening the dollar—adds another layer. If the easing effect wins, bitcoin could benefit long-term. Either way, I’ll be watching how these tariffs interact with Fed policy and market sentiment to see how crypto adapts to this scenario.”

Alvin Kan, COO at Bitget Wallet

“Trump’s proposed tariffs risk triggering stagflation—rising prices without growth—which could undermine confidence in fiat, especially the U.S. dollar. As capital seeks protection from inflation and trade war uncertainty, bitcoin stands out as a neutral, decentralized hedge. If dollar dominance erodes and volatility spikes, BTC demand could rise fast.

In a fragmented, protectionist world, bitcoin becomes less about speculation and more about preservation, and smart traders are already positioning accordingly.”

Augustine Fan, Head of Insights, SignalPlus

“Trade partners promised retaliation, while cross assets saw a massive risk-off move, leading to a similar drop in BTC to recent lows. Compared to the move in US equities, which breached recent lows, crypto prices outperformed relatively, with BTC holding above the $80k level as the weaker dollar and stronger gold move is providing markets with a convenient excuse to give bitcoin a little bit of a flight to quality bid.

A bold statement from Secretary Bessent blaming the sell-off as a “Mag-7 problem” compounded the negative sentiment.

Risk off will likely be the consensus move here, as it’s hard to imagine Trump pulling a quick 180-degree move after such an aggressive show of force, with US assets likely underperforming with economic growth to show tangible weakness in the near future.

We like buying BTC on aggressive dips towards the 76-77k area.”

Ryan Lee, Chief Analyst at Bitget Research

“Trump’s unexpectedly harsh tariffs, including 10-49% tariffs on imports, may have sparked a panic-driven sell-off in the wider market, with ETH and SOL dropping ~6%, and the market shifting to stablecoins as fear spiked.

Beyond the initial shock, these tariffs threaten the U.S. economy, which could ripple into crypto markets. Higher import costs—particularly from key partners like China —could accelerate inflation, with some models projecting a 2-3% CPI uptick by Q2 2025 if trade wars escalate.

Concurrently, the Atlanta Fed’s GDPNow estimate of a 2.8% GDP decline for Q1 2025 may worsen as consumer spending and business investment falter under tariff pressures.

A weakening dollar from economic strain and potential Fed easing could boost BTC as a hedge, with data showing early accumulation trends. However, altcoins may need stronger fundamentals to benefit in the long term.”

Read more: Why Trump’s Tariffs Could Actually be Good for Bitcoin

Web2 marketers have long had tricks to track down and “acquire” (in ad speak) likely customers. But Web3? Not so much, says ad-tech exec Asaf Nadler.

His company Addressable, is out with a new service that Nadler, the chief operating officer, claims will improve the efficacy of Web3 marketing — from the perspective of salespeople, of course. It’s all about “retargeting” the most valuable potential customers: people who very nearly pressed buy, trade, sell, swap, join, but didn’t.

Finding those folks in Web2 is straightforward given the troves of personal data scattered online. Crypto’s trickier because wallets are pseudonymous. The company’s database “bridges the gap,” he said, and lets companies target their most likely customers.

Such precision could be especially important if crypto’s bear market deepens into a blowout that pushes new users away. Economic malaise increases what traditional marketers call the “cost per acquisition” and what Addressable terms the “cost per wallet.”

“Especially in a bear market people aren’t as hyped about user acquisition,” said Nadler, “But what founders care about is letting the community know they still care and reactivate them.”

Addressable isn’t building a doxxing service, says Nadler. While it might know on the backend that John Doe owns wallet abc123, it’s not passing that information to the client, say, CoinDEX. Instead its product lets CoinDEX target John Doe with ads so that wallet abc123 becomes a paying customer.

Building the inference is Addressable’s specialty, he said. The company trawls social media posts for intel that it can cross-check with wallets. Perhaps wallet abc123 interacted with protocols that John Doe follows on X. Or it’s made trades that John Doe discussed on Reddit. All these clues can be enough to reverse-engineer a targetable identity.

The resulting ad-tech playbook is less an only-in-crypto innovation than a recreation of online marketer’s existing capabilities with special twists for the on-chain economy. Companies’ Web3 funnels are already incredibly narrow, Nadler said, because potential customers are uniquely difficult to target.

“Rather than pay KOLs, or do very broad activities, what we allow is companies to target only the users that have engaged with you,” he said. KOLs are key opinion leaders, social media influencers who promote projects to their followers.

While Addressable has been around for three years, the retargeting service is new, Nadler said. He said he believes it will be a difference-maker for protocols seeking stickier customers.

“The most horrible thing that can happen to DeFi projects at the moment is if users stop believing in them,” he said, pointing to targeted advertising as the solution.

The U.S. Senate Banking Committee has voted to advance the confirmations of President Donald Trump’s picks to run the Securities and Exchange Commission and the Office of the Comptroller of the Currency — both key positions for the future U.S. regulation of the crypto sector.

The nominations of Paul Atkins to permanently take over the SEC from former Chair Gary Gensler and of Jonathan Gould to lead the banking regulator OCC now move to consideration by the overall Senate. Approvals there will allow Atkins and Gould to start work at the regulatory agencies.

Atkins and Gould both advanced under party-line votes in the committee on Thursday — each going 13-11.

Committee Chairman Tim Scott, a South Carolina Republican, praised the nominees before the vote.

“Paul Atkins, the former SEC commissioner, will promote capital formation and provide much-needed clarity for digital assets,” Scott said. And of Gould, he said the nominee, once chief counsel at the OCC, will “put an end to the politically-motivated debanking” — a major point of complaint for the crypto industry.

Senator Elizabeth Warren, the committee’s ranking Democrat, issued some last-minute criticisms of the nominees before rejecting all of them.

“Mr. Atkins was dead wrong in the leadup to the worst financial crisis in a generation,” she said of Atkins’ previous tenure at the SEC in the period before the 2008 global financial crisis, and she added of Gould’s previous time at the OCC that he “weakened the rules and helped undermine” the banking system’s safety and soundness.

The recent confirmation hearing for the nominees didn’t address crypto issues in significant depth, though both would be heavily involved in future regulation of the industry.

Read More: Trump’s Pick to Run SEC Paul Atkins Promises New Crypto Stance, Gets Few Questions

Ethereum developers set May 7 as the target date for the long-awaited Pectra upgrade on Thursday, beginning the countdown for the blockchain’s biggest changes since March 2024.

Pectra contains a series of improvements aimed at making Ethereum more user-friendly and efficient. One such improvement is adding “smart contract” capabilities to wallets, which can make them easier to use and recover.

The decision to schedule Pectra was made during a call between Ethereum’s core developers — just over a week after the upgrade went live on the Hoodi testnet without any hiccups. Pectra’s test on Hoodi was the third and final dry-run of the upgrade. Two earlier tests had bugs, which led the developers to delay the upgrade on Ethereum’s mainnet.

Pectra consists of 11 major code changes, or “Ethereum improvement proposals” (EIPs), that will be shipped all at once. Together, the features aim to improve the staking experience, introduce wallet features, and update the overall network.

One of the main Pectra changes that will benefit Ethereum validators is EIP-7251, which will increase the amount of ETH one can stake from 32 to 2,048. The change is meant to alleviate the experience for those staking across multiple validators, who can now set that up under one node instead of multiple.

Read more: Ethereum’s Final Pectra Test Goes Live on Hoodi Network

The team behind interoperability protocol Hyperlane shared Thursday their upcoming token airdrop plans happening at the end of the month.

The airdrop will occur on April 22, and users can check their eligibility to receive $HYPER tokens via a portal provided by the Hyperlane Foundation by April 13, the team shared in a press release with CoinDesk.

The token distribution will mostly go to the community, with 57% of the supply going to users, while the remaining circulating tokens will be distributed to the core team (25%), investors (10.9%), and the foundation’s treasury (7.1%).

The team also shared that the airdrop will be fully unlocked for community recipients, while the core team and investors’ tokens will be locked for the first 12 months.

In addition to the token distribution to early users, Hyperlane is coming out with their “expansion rewards” program, which is based on developer and cross-chain end-user activity, and will be distributed to users each quarter proportional to their activity on the network.

“The retroactive token allocation at TGE is just the first of many over the coming several years, as protocol ownership begins moving into the hands of the developers and end-users who rely on Hyperlane to send assets and other critical messages across chains,” said Nam Chu Hoai, a co-founder of Hyperlane.

Read more: Blockchain Startup Hyperlane Raises $18.5M Round Led by Crypto Investor Variant