Bitcoin (BTC) tagged $30,000 into the April 26 Wall Street open as bulls gained further momentum from United States banking woes.

Bitcoin's price rose 9.6% in 24 hours to break above $29,800 on April 26, with some commentators suggesting that the 50% drop in First Republic Bank shares on April 25 was the catalyst for the rally. The bank's earnings report showed that clients' deposits shrank by 40.8% during the quarter as customers withdrew their money. Bitcoin's price remains 22.5% down on 12 months ago, and the US Federal Reserve's signal that it would hike interest rates above 5% could weaken the economy and have a bearish impact on risk assets. Bitcoin's gains of 27% between March 26 and April 26 may help bulls in April's $3.2 billion monthly options expiry.

Bitcoin (BTC) rose towards $29,000 on Wednesday, with some investors pointing to expectations that the Federal Reserve will inject money into the economy in the coming weeks after signs of yet another US bank collapse. First Republic Bank's shares tumbled 50% on Tuesday after revealing a slump in deposits, leading to concerns that it will become the third bank to fail, joining Silicon Valley Bank and Signature Bank. Bitcoin has added 5.7% in the past 24 hours, following safe-haven assets such as gold to reverse nearly all losses from last week's sell-off. The rally came from expectations of a liquidity injection by the Fed to protect its capital markets as cracks in the financial system grow, said Jake Boyle, a director of retail crypto brokerage Caleb & Brown.

After an incredible quarter of price performance, Bitcoin price action has taken a breather. In this edition, we evaluate participant spending behavior to assess the markets conviction towards the prevailing trend.

Crypto prices rose overnight and into Wednesday morning, with Bitcoin trading at $28,330, up 3.7% over the past day. The bump in crypto prices coincided with deposit outflows at First Republic, stoking broader banking worries. These issues were the catalyst for Bitcoin's most recent rally to above $30,000, and Standard Chartered declared that the "crypto winter is over". JPMorgan analysts warned that Ether could face further selling pressure following its latest upgrade due to Binance withdrawals taking up to 15 days to be fulfilled. Futures traders going short suffered about $77 million in liquidations across derivatives exchanges in the past 24 hours.<br>(By&nbsp;Adam Morgan McCarthy)

Apple has removed the Bitcoin white paper from the latest beta version of its operating system upgrade.

Bitcoin's complex architecture is underpinned by various encryption processes and mathematical formulas, including the use of integers and Poisson distribution. The use of integers, or whole numbers and their negative counterparts, ensures that all computational devices can synchronize more effectively and agree on specific network changes, while also being faster and less prone to error than floating-point numbers. Bitcoin's mining difficulty and block rewards also utilize integers, and transaction inputs and outputs are regulated by them as well. Poisson distribution, a mathematical formula developed in 1837, is used to regulate block time consistency, ensuring that blocks are discovered approximately every 10 minutes. Satoshi incorporated a difficulty setting every 2,016 blocks using the formula to maintain the rough average of 10-minute block intervals. These mathematical mechanisms and encryption schemes, along with others such as proof-of-work, Merkle trees, and cryptographic hash functions, ensure the accuracy, consistency, and efficiency of the Bitcoin system. (Bitcoin.com)

Bitcoin's price is up 3.5% to $28,331, signaling a path to recovery after facing strong selling pressure in recent weeks. The recent price surge comes amid news of another major US bank, First Republic Bank, facing massive capital outflows and working on unloading between $50 billion and $100 billion in debt instruments as part of its "strategic options." This hints that Bitcoin is serving as a safe haven for investors. On-chain data provider Santiment reports that Bitcoin's social dominance remains high, and as long as it sustains above $25,300, the price may rally towards $42,000. Crypto analyst Michael Van de Poppe adds that the market structure is still not bearish until Bitcoin flips $25,000 into a resistance, and $27,800 is the crucial breaker for a fast acceleration. (coingape)

The price of Bitcoin (BTC) spiked more than 3% in the last 24 hours as fears were sparked of another possible imminent bank failure as First Republic Bank (FRC) shares closed down more than 50% on April 25.

In a note published on April 24, Standard Chartered analysts predicted that Bitcoin prices will climb to $100,000 by the end of 2024.