[April 14: CRYPTO MARKET UPDATE-1]

• The Most Published News
The Mantra token $OM experienced a dramatic collapse, falling from around $6.3 to below $0.50 in just 24 hours. This steep decline resulted in the loss of over 86% of its $6 billion market cap. Traders have compared the incident to a rug pull and the notorious LUNA crisis, warning that the token could potentially drop to zero.
Bitcoin appears to be entering an accumulation phase reminiscent of last year’s period between August and September, with whales holding steady during the current correction. In related high-profile news, Senator Cynthia Lummis has proposed that the U.S. acquire 1 million Bitcoin over five years—purchasing 200,000 $BTC annually—with the long-term goal of halving the national debt. Additionally, JPMorgan Chase CEO Jamie Dimon warned of potential turmoil in the nearly $30 trillion Treasury market, suggesting that such instability could drive investors toward Bitcoin as a hedge.

• Current Market Trends
Crypto analysts are cautioning that if Bitcoin falls to $82,700, it could trigger over $543 million in liquidations on long positions. With Bitcoin trading around $85,000, the recent 24-hour liquidations have already reached about $239 million—highlighting a vulnerable spot amid an ongoing correction.

• Regulations and Policies
The policy front was marked by Senator Lummis’s proposal to have the U.S. acquire 1 million Bitcoin over five years to address the national debt. Backed by fellow senator Bo Hines, the proposal even suggests financing the purchases via gold reserves on a budget-neutral basis, illustrating a novel intersection of fiscal policy and digital asset strategy.

• Institutional Investor News
High-level commentary from industry figures underscores an environment of cautious institutional engagement. Dimon’s recent warning about potential disruptions in the Treasury market has already spurred conversations among institutional investors about Bitcoin’s role as a safe haven during periods of monetary instability.

• Market Forecasts and Expert Opinions
Experts present a mixed outlook: while the accumulation trend suggests a bullish stance supported by the prospect of renewed quantitative easing, the risk of significant liquidations if Bitcoin dips further remains a critical concern. This duality points to a market at a crossroads—balancing optimism over future easing measures with short-term volatility risks.

• Security and Hacking News
Attention has also turned to the massive volatility in the $OM token, where a forced liquidation by a major investor caused the token’s value to drop over 86% in 24 hours. In a related development, approximately $143.94 million worth of $OM tokens were transferred to OKX by five wallets over three days, including one linked to Nomura Holdings’ crypto division, prompting an ongoing investigation amid trader concerns of a potential rug pull.

• Conclusion
Today’s updates paint a picture of a crypto market that is both resilient and precarious. While Bitcoin’s current accumulation phase and the long-term strategic proposals signal robust institutional confidence, the looming risk of mass liquidations and external economic pressures underscore the importance of caution. Investors may want to stay alert to price levels near critical support and monitor broader economic indicators while considering potential shifts in market sentiment amid regulatory and fiscal policy experiments.

Daily crypto market update is an AI summarization of important news published in major crypto media in the last 24 hours at the time of sending. The full news story can be found at the URL below.
https://t.co/cAvNUwvBVv