Tesla did not buy or sell any Bitcoin during the first quarter of 2023, and continues to hold 11,950 BTC worth approximately $345 million. This marks the third consecutive quarter where the company has not made any transactions with the cryptocurrency. In Q2 2022, Tesla sold 75% of its BTC holdings due to rising production costs. Despite this move, Elon Musk, CEO of Tesla, has not sold his personal crypto holdings in Bitcoin, Ethereum, and Dogecoin. Tesla's involvement with Bitcoin began in 2021 when it bought $1.5 billion worth of BTC, followed by allowing customers to buy vehicles with BTC. However, the company suspended the payment method in May 2021 due to the high energy consumption of the network, and Musk said it could return when at least 50% of Bitcoin mining is powered by renewable energy. A recent study estimated that over 52% of the energy used in Bitcoin mining is from renewable sources.

Bitcoin (BTC) fell below $29,000 on April 20, threatening to flip $29,000 to resistance on the day as traders eyed a crucial support zone. Analysts noted that while the Bitcoin market is correcting, the average transactor is still taking profits, indicating that chips are still being taken off the table, and a flush out of top buyers has not yet occurred. Some analysts remained optimistic, noting one-month lows in Bitcoin's relative strength index (RSI) on daily timeframes, which can signal an inbound uptrend. Popular trader and analyst Jelle observed a copycat formation by BTC/USD, which neatly followed a price fractal from 2020, predicting that if the $28,800 support zone could be held for the next week, BTC/USD could break $30,000 soon after.

Mahindra Group Chairman Anand Mahindra stated on Twitter that people may soon be able to buy Mahindra automobiles with Bitcoin, indicating a potential future where people in India can purchase cars with cryptocurrencies. The Mahindra Group of companies is more inclined towards crypto and blockchain, with Tech Mahindra entering the blockchain and metaverse space, and Kotak Mahindra Bank becoming one of the first banks to open its doors to the crypto market in India. Anand Mahindra was previously rumored to have invested millions in Bitcoin, but he denied the reports, stating that he hasn't invested a single rupee in cryptocurrencies.

Bitcoin (BTC) dropped below $30,000 and $29,000 in the past 24 hours, leading to the liquidation of $66.14 million long positions on the asset, according to Coinglass data. The broader crypto market saw total liquidations of $300.10 million, with most of them occurring on OKX, Binance, and ByBit. Ethereum (ETH) and Litecoin (LTC) also saw significant liquidations. Crypto analyst Maartun pointed out several headwinds that could pull the industry into a bear market, including a bunch of 7-10-year coins moving on-chain, which historically is not a good sign for the market. According to CryptoSlate data, Bitcoin fell to $28,953 at the time of writing.

A dormant Bitcoin whale address, which received 2,071.5 BTC ($60.7 million) in 2013, transferred its funds today. The reason for the move is unknown, but some speculate that it could be related to a wallet-draining operation targeting old wallets. The price of Bitcoin has dropped by nearly 4% over the past 24 hours and is currently trading just below $29,000.

The cryptocurrency market has seen a sell-off, with Bitcoin dropping under $29,000 and trading 4.28% down at a price of $28,913 and a market cap of $559 billion. The top ten altcoins have also corrected between 5-10%, and $28,450 is a crucial support zone for Bitcoin below which it could fall further to $25,000. However, even at the current price, Bitcoin's year-to-date gains stand at 75%, and the sentiment around Bitcoin has turned positive with the hope that the Fed could loosen its monetary policy going ahead. Bitcoin whales have also started accumulating BTC again, and a recent study identified bullish periods by using the token's relative strength index, which had to be above 50. However, some analysts remain cautious due to the recent US regulatory crackdown in the crypto space, and a build-up in leverage that could trigger a liquidation. (coingape)

Electric car maker Tesla (TSLA) did not buy or sell any bitcoin in the 1st quarter of 2023, the company reported in its earnings report Wednesday afternoon.

On-chain data shows the Bitcoin Korea Premium Index has been displaying signs of selling pressure, something that could result in a pullback.

Inflation is a phenomenon that affects the purchasing power of money. It occurs when the general level of prices for goods and services rises over time, reducing the value of each unit of currency. Inflation can have various causes, such as excessive money supply, rising demand, supply shocks, or government policies.