According to the weekly statistics that were released by the United States Department of Labor (DOL) on Thursday, there were around 228,000 initial unemployment claims filed in the week that ended on April 1. This report came in lower than the market expectation of 200,000 and followed the previous week’s estimate of 246,000 (which was corrected from 191,000).

Famous gold bug and bitcoin critic Peter Schiff has once again blasted the leading cryptocurrency for not making it to ChatGPT’s recommended recession-proof assets list.

As cryptocurrencies become more widely adopted around the world and blockchain is touted as one of the most important technological achievements of the 21st century, many people wonder if Bill Gates, the co-founder of the American technology mammoth Microsoft (NASDAQ: MSFT), has already jumped on the crypto train.

Environmental lawyer Robert F. Kennedy Jr. has filed paperwork with the Federal Election Commission to run for president in 2024 as a Democrat, with the filing confirmed on Wednesday, April 5, by his campaign treasurer, John E. Sullivan.

Bitcoin was once again trading below $28,000, as markets consolidated ahead of Friday’s non-farm payrolls report. Payrolls are expected to come in at 240,000 for last month, with the unemployment rate in the U.S. remaining at 3.6%. Ethereum was also lower today, following an eight-month high on Wednesday.

Chain-Key Bitcoin (ckBTC) is now live on the Internet Computer. Acting as a bitcoin ‘twin’, ckBTC enables fast, low-fee, cryptographically secure, fully on-chain bitcoin transactions on the Internet Computer, bringing true decentralization to DeFi and the blockchain space.

Bitcoin's return on investment (ROI) in Q1 2023 was 170.32% more compared to the average of five major stock indexes, according to data acquired and calculated by Finbold. Bitcoin's returns stood at 69.4%, while average returns for the indices stood at 5.5%. The high-profile collapse of major banks, including Silvergate Bank, Silicon Valley Bank, and Signature Bank, motivated investors to seek refuge in Bitcoin due to structural deficiencies in the banking system. Advocates of Bitcoin asserted that the asset's limited supply is a crucial aspect of its function as a store of value. Bitcoin's returns in the first three months of 2023 highlight the asset's breakout from major traditional investment products. As it currently stands, Bitcoin is anticipating a positive April, historically a favorable month for the cryptocurrency. However, uncertainty still lingers, and rising inflation remains a major obstacle.

Bitcoin's 23% price increase in March has been attributed to investors seeking shelter in the top cryptocurrency amid bank failures. However, analysts have also called the move a safe haven rally, partly driven by improved risk appetite stemming from hopes for an early Federal Reserve pivot in favor of liquidity-boosting rate cuts. The rising Nasdaq to S&P 500 ratio, which measures the relative difference in valuation between technology stocks represented in the Nasdaq 100 and broader industry stocks from the S&P 500, is also seen as a sign of the rally being driven by improved investor risk appetite. The positive correlation between bitcoin and the NDX/SPX ratio means on days when the ratio rises, bitcoin is more likely to do the same and vice versa.

Bitcoin (BTC) failed to exit a tight trading range into April 6 as it remained below the $28,000 mark, despite approaching $29,000 the day prior. Upward momentum during the approach soon faded, and the spot price remained in an increasingly narrow range. Monitoring resource Material Indicators noted that traders had moved both bid and ask liquidity toward each other, "compressing" the likely zone of movement for spot price, adding that liquidity dampens volatility. Analytics resource Skew devised two outcomes for the current price action, with BTC/USD described as "crabbing" and moving sideways, with little room for manoeuvre. Meanwhile, trader and analyst Rekt Capital eyed a trip to $27,000 as a potential signal that a long-term "double top" formation is underway.

Bitcoin failed to break through $29,000 and subsequently dropped by almost $1,000. Most alternative coins have also turned red, with DOGE, LDO, and ARB dropping hard. Bitcoin had jumped to over $28,000 before the bulls initiated another leg-up that brought it up to $28,800, but the situation reversed, and BTC started losing value once again. As of now, the cryptocurrency is trading at just under $28,000, with a market cap of $540 billion and dominance over the altcoins at 45.7%. Dogecoin leads the adverse trend from the top 10 assets with a 6% slump, while LDO and ARB are the other more notable losers from the larger-cap alts. Overall, the cumulative market cap of all crypto assets has seen roughly $30 billion gone in a day and is down below $1.2 trillion.