Massive Bitcoin Volatility, Ripple (XRP) Trial, and CZ’s Sentencing: This Week’s Crypto Recap

Bitcoin’s price went on quite the wild ride throughout the past seven days. The cryptocurrency is down 4.2% during that period but this summary doesn’t do the action any justice, so let’s dive in.

The next day, on May 1st, BTC tumbled below $57K. This coincided with the first-ever day of IBIT ETF outflows. This is the spot Bitcoin ETF launched by BlackRock, which was up only in terms of flows until that date. The market has since been recovering, with BTC skyrocketing toward $62K today, recording gains upwards of 5% in the past 24 hours alone.Putting price-action aside, the industry saw a couple of major developments as well.

All in all, the BTC halving is gone and many were expecting for the prices to continue ripping. So far, this has clearly not been the case, but some analysts are pointing out that this is in line with historical price movements preceding a post-halving bull run. The sentence for Changpeng Zhao – the former CEO and one of the founders of the world’s largest cryptocurrency exchange – Binance – is finally in. He willpurportedly

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