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A whirlwind of speculation hit the crypto and political spheres as reports emerged that Elon Musk had stepped down from his role in the Trump administration. However, these rumors were swiftly debunked—by Musk himself. Taking to his X account , Musk retweeted a post clarifying that he has not resigned and will only depart “once his job is finished.” He further stated that he is “just getting started” and uncovering significant government inefficiencies. Musk's influence on the crypto market is undeniable, and even false reports about his decisions can create volatility. Following the initial wave of misinformation, Dogecoin ( DOGE ) and other Musk-associated cryptocurrencies saw temporary fluctuations. However, as the truth emerged, markets stabilized. This incident highlights how quickly misinformation can spread and influence crypto sentiment. It also reinforces the importance of verifying news, especially when it involves figures like Musk, whose words and actions can shift markets in an instant. Dogecoin has been on a downward trend so far, but that's because the entire crypto market is currently bearish. Since mid-March however, Dogecoin saw stability around the price of $0.15 and $0.17. DOGE/USDT 1-day chart - TradingView via Bitget From a technical perspective, the fast and slow MAs seem to have crossed, indicating a temporary pause in the Dogecoin price down, and a potential upward movement. As Musk continues his role in the administration, his involvement in uncovering government inefficiencies could have far-reaching implications—not just politically, but also for the broader tech and financial sectors, including cryptocurrency . With his commitment to innovation and disruption, the crypto community will be closely watching what he does next. For now, one thing is clear: Musk is here to stay, and his impact on both politics and digital assets is far from over. A whirlwind of speculation hit the crypto and political spheres as reports emerged that Elon Musk had stepped down from his role in the Trump administration. However, these rumors were swiftly debunked—by Musk himself. Taking to his X account , Musk retweeted a post clarifying that he has not resigned and will only depart “once his job is finished.” He further stated that he is “just getting started” and uncovering significant government inefficiencies. Musk's influence on the crypto market is undeniable, and even false reports about his decisions can create volatility. Following the initial wave of misinformation, Dogecoin ( DOGE ) and other Musk-associated cryptocurrencies saw temporary fluctuations. However, as the truth emerged, markets stabilized. This incident highlights how quickly misinformation can spread and influence crypto sentiment. It also reinforces the importance of verifying news, especially when it involves figures like Musk, whose words and actions can shift markets in an instant. Dogecoin has been on a downward trend so far, but that's because the entire crypto market is currently bearish. Since mid-March however, Dogecoin saw stability around the price of $0.15 and $0.17. DOGE/USDT 1-day chart - TradingView via Bitget From a technical perspective, the fast and slow MAs seem to have crossed, indicating a temporary pause in the Dogecoin price down, and a potential upward movement. As Musk continues his role in the administration, his involvement in uncovering government inefficiencies could have far-reaching implications—not just politically, but also for the broader tech and financial sectors, including cryptocurrency . With his commitment to innovation and disruption, the crypto community will be closely watching what he does next. For now, one thing is clear: Musk is here to stay, and his impact on both politics and digital assets is far from over.

A bill to regulate stablecoin in the United States has been passed by the US House Financial Services Committee. On April 2, the Committee approved the Stablecoin Transparency and Accountability for a Better Ledger Economy Act in a 32-17 vote . It will now head to a full House vote. The bill, backed by Republican lawmakers, aims to bring clarity and structure to the stablecoin market housing USD-pegged stablecoins like USDT and USDC. Introduced by Financial Services Committee Chairman French Hill and Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee Chairman Bryan Steil, the STABLE Act lays out a dedicated regulatory framework for payment stablecoins, setting clear rules for how issuers operate and back their tokens. It focuses on boosting consumer protections, ensuring transparency from issuers, and strengthening the role of the US dollar in digital finance. Issuers would need to disclose how their tokens are backed and ensure sufficient dollar-equivalent assets are held to support the circulating supply. Other Key provisions include mandating strong consumer protection measures to reduce risk and enhancing trust in stablecoin use for everyday payments. The bill will also modernise the U.S. payment infrastructure, supporting faster, more cost-effective transactions while maintaining space for innovation. Supporters say the legislation will help the US maintain its edge in digital asset development. According to Congressman Dan Meuser, the bill would reinforce the dollar’s position as the world’s reserve currency by keeping stablecoins within a “secure, dollar-backed system.” “It will make payments faster, cheaper, and more accessible, reducing costs to the benefit of businesses and consumers alike. President Donald Trump promised to make America the crypto capital of the world, and the STABLE Act is the first step in delivering on that promise,” he said in an April 2 X post . Meanwhile, Congressman Troy Downing added the legislation would “allow for innovation to continue to thrive in the U.S. while maintaining important consumer protections.” With stablecoins gaining ground , the current administration has pushed for clear regulation, something Trump’s crypto czar David Sacks says is vital for strengthening the dollar’s global leadership. Congress is also looking at another stablecoin bill, the GENIUS Act , introduced by Senator Bill Hagerty. It aims to set up a federal framework for regulating stablecoin issuers across the board. The bill lays out clear rules around reserves, audits, transparency, and licensing. It recently cleared the Senate Banking Committee with an 18-6 vote .

$GBPUSD This move feels like a manipulation.

Gold smashed through the $3,100 mark recently; however, some analysts believe this rally could signal the start of a significant market shift, not just further gains for the metal itself. Market expert Michael van de Poppe suggests Ethereum (ETH) could outperform Bitcoin (BTC) if Gold pulls back sometime in April. This prediction may sound ambitious, considering ETH’s recently lagging price momentum. Yet it is not entirely unfounded based on historical market patterns. When a major safe-haven asset like Gold rallies aggressively for an extended period, a price correction often follows eventually. In such a scenario, where demand for traditional hedges shrinks, investors may begin pushing liquidity back into riskier assets like Ethereum, fueling the next major crypto breakout. Such a capital rotation could also mark the beginning of a broader “Altcoin Season,” as this would signify increasing investor risk appetite flowing towards various digital assets beyond Bitcoin. While Gold’s relentless drive beyond $3,100 might attract more capital into the safe-haven asset in the immediate near-term, many market analysts speculate that gold might be entering the final leg of its current major rally cycle. These concerns stem partly from a mix of complex geopolitical and macroeconomic factors. This includes current global uncertainty possibly magnified by President Donald Trump’s announced stance on international trade tariffs. Related: The Great ETF Divide: Why Institutions Favor Bitcoin Over Ethereum Right Now The US president is reportedly considering levying higher tariffs on several nations soon. His administration’s earlier announced reciprocal tariffs were slated to begin taking effect today, April 2 (“Liberation Day”). While institutions like Bank of America have raised gold targets ($3,063 per ounce (oz) in 2025 and $3,350/oz in 2026), shifting fiscal policies, potential tariffs escalations could temper the rally. Due to these concerns about gold potentially nearing a peak, some traders now look for signs of exhaustion in its price momentum. This scenario, if it plays out, provides a potential opportunity for altcoins to regain market strength and attention. Historically, Gold and cryptocurrency markets have sometimes exhibited an inverse correlation during certain periods. This often occurs during times of rapidly shifting investor sentiment between seeking safety (risk-off) and seeking higher returns (risk-on). Related: Ethereum Q2 Outlook: Strong Seasonality Clashes with Weak On-Chain Data While the current technical downtrend observed in the ETH/BTC trading pair makes it challenging for Ethereum to immediately find a bottom and recover relative strength against Bitcoin, a trend reversal remains a possibility, especially if market conditions shift, and analysts predict such a trend shift favoring altcoins could begin as early as April. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Cardano (ADA) finds itself at a key technical moment, where it grapples with a prolonged resistance zone that has largely defined its market behavior since December 2024. Priced near $0.6811 at press time (early April 2), ADA has seen an 11.03% decline over the past seven days, despite a small 0.44% gain in the last 24 hours. Its market cap stands near $24.5 billion with recent daily trading volume exceeding $620 million. Cardano’s price action over the past few months showed a pattern involving failed breakout attempts and subsequent pullbacks near significant overhead price levels. According to Dan Gambardello, a known crypto analyst, ADA’s current position is at a critical technical juncture. The resistance level he identifies between $0.72 and $1.24 is proving to be a major barrier for bulls currently. Gambardello suggests that once ADA manages to break decisively above the $0.72 mark, the path toward the $1.24 upper target becomes much clearer technically. Such a move could signal the beginning of a new sustained bull market phase for Cardano. However, the price remains in consolidation mode below resistance until such a decisive breakout actually occurs. Related: Cardano Founder to Share Stage with Donald Trump Jr. at Crypto Panel Moreover, Cardano’s support structure is holding steady for now, with both the 100 EMA (blue) and 200 EMA (light blue) acting as key areas of price stability. These moving averages have proven to be reliable support levels during this consolidation phase. The most recent daily price candle shows a slight bullish reversal attempt initiating from support levels. However, traders likely need confirmation of a clear breakout above the $0.72 resistance area for the rally to gain significant upward momentum. Despite some tentatively positive chart signs like holding EMA support, Cardano’s price action remains under pressure. This appears partly due to significant recent selling activity observed on the blockchain. On-chain data from Santiment, highlighted earlier by analyst Ali Martinez, revealed whales recently sold off approximately 200 million ADA tokens. This large selling volume has likely been a key factor preventing a stronger price recovery for ADA so far. Historical data often suggests such large whale transaction flows can trigger further downward price momentum, unless strong new buying pressure quickly emerges to absorb the selling effect. Related: Hoskinson to Cardano Critics: Where’s the Proof of “No Achievements”? Currently, Cardano’s price hovers near the $0.68 mark. Importantly, it holds above the crucial $0.60 longer-term support level also watched by Martinez. If ADA fails to reclaim the $0.70 to $0.80 range relatively soon, Martinez previously warned it could potentially see a sharp decline, possibly falling toward his identified $0.31 technical downside target. However, ADA’s current resilience above the $0.60 support level suggests a price recovery remains technically possible, provided significant buying interest returns to the market soon. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.