Bitcoin, Ethereum Technical Analysis: BTC Consolidates Above $28,000 on Monday

Bitcoin started the week consolidating above the $28,000 level, as markets prepare for a big week of U.S. economic data. The headline will be this Friday's nonfarm payrolls, which are expected to fall to 238,000 jobs. Ethereum remains above $1,800 as of writing.

Timeline of Bitcoin, Ethereum

The latest price moves in bitcoin (BTC) and crypto markets in context for April 3, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

Layer-1 blockchain Solar (CRYPTO: SXP) saw an increase of 152% in the past seven days, outpacing leading cryptocurrencies such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). Top Gainers (7 Days) Cryptocurrency Gains (+/-) Price (Recorded 12 a.m.

As the US government and regulators try to heap more and more pain on crypto, Bitcoin continues to act as a hedge out of the failing banking system. Crush crypto The strongly anti-crypto stance taken by the U.S. over previous months shows no signs of letting up.

Amid the ongoing debate over the geopolitical implications of Bitcoin, a graduate thesis by U.S. Space Force major Jason Lowery has emerged on top-selling lists and categories on Amazon's books. Lowery's academic research, conducted during a six-month Department of Defense-sponsored fellowship at MIT, resulted in "Softwar: A Novel Theory on Power Projection and the National Strategic Significance of Bitcoin.

According to Lowrey's concise description on Amazon, he had advised several senior US executives on Bitcoin-associated regulations in the offices of the President, Secretary of Defence, and the Joint Chiefs of Staff.

Prominent analyst Chris Burniske recently shared his insights on the Ethereum staking unlock and its potential impact on the market. Contrary to the beliefs of some analysts, who assume the event will create significant selling pressure on the asset, Burniske argues that the Ethereum staking unlock is a bullish development in the mid- to long term.

Bitcoin (BTC) trended downwards over the weekend while staying squarely in the 27.5k to 28.5k trading range favoured by the BTC/USDT trading pair in recent weeks. Bullish ambitions of breaking above the psychological 30k barrier appear to have been put on the back burner for now, instead pinning hopes on stabilising around US$28,000 price point.

Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, was dealt a blow earlier today as it slipped below the $28,000 handle. The decline has sparked concerns among investors and analysts that the digital asset may be headed for a correction, leaving them to wonder whether it's time to sell or hold on to their investments.

United States lawmaker Senator Elizabeth Warren conceded that banks “have done a really bad job” while advocating for central bank digital currencies (CBDCs) because the government backs them.

Bitcoin Ordinals have hit a new all-time high, with the number of inscriptions on the BTC network reaching 58,179 on April 2, according to data from Dune Analytics. This figure represents an 83.5% increase from the previous all-time high of 31,692 recorded on March 9.