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Cryptocurrencies Price Prediction: Bitcoin, Meme coin & Aave – American Wrap 2 April

Cryptocurrencies Price Prediction: Bitcoin, Meme coin & Aave – American Wrap 2 April
FXStreet TeamFXStreet TeamFXStreet

Bitcoin price plummets as BTC RSI resets to levels last seen before ETF inflows went berserk

Bitcoin (BTC) price is trading with a bearish bias as markets succumb to volatility resulting from low trading volumes coming out of a prolonged weekend. However, there is concern as the BTC RSI is at levels last seen in January when the ETF narrative was catching steam. 
Double-digit losses in large-cap meme coins have caused the entire meme coin category to crash by about 17% in the past 24 hours. The recent decline follows new market dynamics that have disrupted traders' expectations following anticipation of the Bitcoin halving.
 
Lending protocol Aave (AAVE) announced on Tuesday a new governance proposal by the Aave-Chan initiative, a delegate and service provider for the protocol, to address problems related to MarkerDAO’s Direct Deposit Module (D3M). The proposal’s objective is to implement a 0% Loan-to-Value (LTV) risk parameter for the DAI stablecoin to help users switch to other stablecoins like USD Coin (USDC) and USDT (USD Tether) for collateral. 
 
 

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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