Bitcoin’s price fell by $10,000, possibly influenced by potential US rate hikes and geopolitical tensions, but showed signs of recovery with an anticipated boost from the upcoming halving event.

Shiba Inu’s Shibarium network saw a significant increase in daily transactions, signaling growing activity and potential for future gains.

Despite a recent price drop, analysts remain optimistic about XRP, viewing it as a buying opportunity with expectations for an upward trend.

BTC’s Massive Plunge

The last few days were not quite positive for the primary cryptocurrency, whose price nosedived by approximately $10,000. Recall that BTC was worth more than $72K last week, while during the weekend, it crashed below the $63K mark.

BTC Price, Source: CoinGecko

The severe correction was possibly triggered by external events which affected traditional finance, too. For example, the US Federal Reserve hinted that a rate hike is still in the cards due to the stubborn inflation in the world’s biggest economy.

Additionally, Iran launched a massive barrage of over 300 drones and missiles at Israel over the weekend, increasing the tension in the region.

BTC’s price was negatively affected due to geopolitical concerns once again in 2022 when Russia invaded Ukraine. As Willy Woo reminded, though, the asset recovered all losses in mere days, raising hopes that we can witness the same ascent soon. It is worth mentioning that BTC is well in the green today (April 15), rising by 3% and crossing the $66,000 level.

The upcoming halving suggests a more substantial uptick could be just around the corner. The event, which occurs approximately every four years, is scheduled for the end of this week and will slash in half the rewards distributed to miners for validating blocks on the Bitcoin blockchain.

Historically, the halving has been a precursor of a huge resurgence of the entire cryptocurrency market.