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Major cryptocurrency took a hit on Tuesday evening, as Bitcoin encountered selling pressure leading as halving approaches.CryptocurrencyGains +/-Price (Recorded 12:00 a.m. EDT)Bitcoin BTC/USD -1.45%$66,053Ethereum ETH/USD -1.51%$3,318Dogecoin DOGE/USD -1.96%$0.18

What Happened: The leading cryptocurrency dropped 5.7% to $65,742, bringing an end to the week-long consolidation between $68,000 and $72,000.

Bitcoins upcoming halving event is expected on April 21, which will reduce the pace of BTC production by 50%.

Long liquidations, which occurred during a period of heightened volatility, particularly stood out. On April 2, long positions totaling over $115 million were liquidated within a 24-hour timeframe. Notably, Bitcoin long liquidations surged to over $21 million within just 4 hours on the same day.

When Bitcoin long positions are liquidated without sufficient buying pressure from traders, it can have a negative impact on the price of Bitcoin.

Top Gainer (24 Hour)CryptocurrencyGains +/-Price (Recorded 12:00 a.m. EDT)Ethena ENA/USD +25.86%$0.86Flare FLR/USD +10.67%$0.039Bitget Token BGB/USD +9.63%$1.18

The global cryptocurrency market cap now stands at $2.48 trillion, showing a 1.71% decrease in the past 24 hours.

Stock market declined on Tuesday. The S&P 500 dropped by 0.72% and closed at 5,205.81. Similarly, the Dow Jones Industrial Average decreased by 396.61 points, or 1%, settling at 39,170.24. The tech-heavy Nasdaq Composite declined by 0.95% and finished at 16,240.45.

Tuesdays market losses followed the release of Februarys core personal consumption expenditures price index, which showed a 2.8% annual increase, still below the Feds 2% inflation target. Additionally, the Institute for Supply Managements manufacturing gauge indicated expansion for the first time since September 2022.

See More: Best Cryptocurrency ScannersLoading… Loading…

Analyst Notes:Cryptocurrency analyst Michael Van de Poppe has indicated that Bitcoin has lost a crucial area. He said, Well not see a new ATH pre-halving unless $69K breaks.

Van de Poppe expects a period of consolidation, during which altcoins will begin to show activity after this correction.When it comes to Bitcoin, he says, the area of interest lies in the range of $56-60K.

Analyst Rekt Capital suggested that the current price action is part of a pre-halving retracement. According to Rekt Capital, Bitcoin experienced a 38% and 20% dip during the halving cycles of 2016 and 2020, respectively.

Pseudonymous analyst Credible tells said on X X that Ethereum is poised to surge beyond $10,000, with a potential rally reaching as high as $20,000. His prediction is based on the anticipated gains in Bitcoin.

"I think there's a chance we can come up on a peak/blow-off top near $20,000. It's pretty simple I think BTC can realistically 2x from our last high at $69,000 which means most alts will do multiples of that. For ETH, a 3-4x of prior all-time high puts us at $15,000-$20,000."

Ali Martinez mentioned the strong support of the 200 EMA on the Bitcoin four-hour chart. This support has been crucial since early February, preventing BTC from further declines.

"For this reason, Im paying close attention to this level because if it holds, it guarantees a rebound, but if it breaks as it did in mid-January, it could lead to more losses for $BTC."

Photo by SvetlanaParnikova on Shutterstock

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2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Gretzky celebrates Stars, coy on series vs. Oilers

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Gretzky celebrates Stars, coy on series vs. Oilers

DALLAS — Wayne Gretzky was in the Dallas Stars locker room congratulating them after they advanced to their third consecutive Western Conference final, where they will face the franchise with which “The Great One” was a four-time Stanley Cup champion.

“He said we’re going up against a pretty good team now,” Stars captain Jamie Benn said Tuesday, the day before hosting Game 1 against Edmonton. “And I had to ask him who he was cheering for. It felt right, and he didn’t answer, obviously.”

Benn said it was “pretty cool” that Gretzky visited the Stars after their 2-1 overtime win Saturday night over Winnipeg that set up a West final rematch against the Oilers.

Edmonton won the West final over the Stars in six games last year, then lost to Florida in a seven-game Stanley Cup Final.

“What a great honor to have the greatest player of all time come down after the game and say hello,” Stars coach Pete DeBoer said.

Gretzky told the Stars he had so much fun watching them play, and that they were now going to play “one of the greatest teams ever.”

DeBoer was on the coaching staff for Canada for the team’s 4 Nations Face-Off title earlier this year and during that period got to spend some time with Gretzky.

“Extra special. That’s my era. That’s the guy we all grew up watching,” DeBoer said. “He’s a special guy when you get him 1-on-1 or in a coach’s room or behind the scenes. You can see his passion for the game. He can sit and talk hockey and tell stories all night.”

Gretzky was part of four Stanley Cup titles in a five-season span in the 1980s with Edmonton. He was the NHL career-leading goal scorer with 894 goals until Alex Ovechkin passed him on April 6 but still has the most points (2,857) and assists (1,963).

So when meeting the Stars and DeBoer, did Gretzky say anything that would create headlines in Edmonton, such as saying he was hoping Dallas would win?

“He didn’t. He would never say that and I would never put him in that spot,” DeBoer said. “He was very respectful of our group and the job we’d done to that point. I think we all understand his allegiance to Edmonton and appreciate that, so he never went beyond that.”

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Marner unsure of Leafs’ future; Tavares content

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Marner unsure of Leafs' future; Tavares content

TORONTO — Mitch Marner might have played his final game with the Maple Leafs. Toronto’s top winger will be an unrestricted free agent on July 1 and has dodged speculation all season about when — or if — he would sign an extension with the club. During the Leafs’ season-ending media availability Tuesday following their Game 7 loss to Florida in a second-round Eastern Conference playoff series on Sunday, Marner was asked directly whether he wants to be a Leaf year. He remained noncommittal about staying put.

“I’ve always loved my time here, Ioved being here. I’ve been so grateful,” Marner said. “I haven’t processed anything yet. It’s still so fresh. Losing sucks.”

Marner, 28, has played his entire nine-year career with Toronto after the Leafs drafted him fourth overall in 2015. A native of the Toronto area, Marner has often spoke glowingly of getting to represent his childhood team. He’s done so by emerging as one of the league’s best playmaking forwards, hitting a career-high 102 points in the 2024-25 campaign to sit fifth in NHL scoring. Throughout the year though he and the Leafs didn’t come together on a new deal, and Toronto asked Marner to waive his no-trade clause so it could potentially facilitate a move prior to the March trade deadline. Marner ultimately refused and stayed on to be arguably the Leafs’ regular-season MVP.

But Marner wasn’t the difference-maker Toronto needed in the playoffs when it was being run off by a punishing Panthers team. Toronto held a 2-0 series lead over Florida in the second-round bout before the Panthers rebounded to win the next three, including an embarrassing 6-1 drubbing of the Leafs at home in Game 5. Toronto recovered with a Game 6 victory on the road but was again trounced at home, 6-1, in Game 7 to see its season end on the lowest of notes. Marner had just three assists in the final five games against Florida and was minus-four.

It was another disappointing end for Toronto and for Marner. The Leafs are now 0-6 in Game 7s during Marner’s tenure with the team, and he has notched just two assists in those outings.

Postseason struggles aside, Marner’s consistency as a regular-season performer leaves little doubt he’d have suitors on the open market. Marner’s lack of an answer about staying — or not — in Toronto only made the possibility he pursues that option more likely.

“It’s tough to process at this moment. It’s so fresh,” he said. “It’s 24 hours [from] our season ending. I haven’t thought about anything. I haven’t sat down with my wife. I haven’t talked to her about [the] future, next steps, and that will be in the next couple of weeks we’ll do that. We’ll start figuring stuff out. But I’m forever grateful, especially with this group.”

Marner sounded almost wistful in looking back on his seasons with the Leafs in the wake of another playoff defeat.

“It’s been amazing,” he said. “It’s been ups and downs, obviously. You want to win every year, you really do. You feel the love and the passion in the city, and you’re forever grateful for that. It’s one of the best cities to live in in the world, and I’ve been forever grateful to not just grow up here, but be able to wear this maple leaf and be a part of the history and this team.”

While Marner might be out the door, John Tavares isn’t eager to follow him. The Leafs veteran is also a pending unrestricted free agent, but he’s made clear his desire to be back in Toronto next season. Tavares said Tuesday he had “productive” talks with GM Brad Treliving and coach Craig Berube, and while several factors would play into a new contract, it was a top priority for Tavares to find common ground with the Leafs.

“If you want to make something work, you do everything you can to try to find what works on both sides,” he said. “What’s fair for myself and my family and for the team and the club. I’ve expressed my desire to stay and wanting to make it work.”

Berube made his feelings known, too. He said he doesn’t get into personnel signing decision with Treliving but when it comes to whether he wants to coach Marner and Tavares again?

“100%,” Berube said.

If Sunday’s trampling was Marner’s last time suiting up with the Leafs, he’ll leave behind a legacy that includes being the fastest skaters in franchise history to hit 700 points (in 629 games) and is one of only four Leafs to ever hit the 100-point mark (joining Darryl Sittler, Doug Gilmour and Auston Matthews).

It’s been Matthews beside Marner for much of their collective time in Toronto, which began in the 2016-17 season. The two have been frequent linemates over the nine-year span while forging a personal and professional bond Matthews will cherish regardless of where Marner lands.

“He’s a brother,” Matthews said. “He’s such a good teammate, friend. We’re extremely close. He’s extremely close with a lot of guys on the team, and he’s a big, big part of our team, and has been a big part of our team. Unfortunately, that’s the nature of the business. People come and go. He has the right to make his own decision, but obviously we all love him very much. He’s an amazing person, amazing teammate.”

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Canes’ Morrow makes playoff debut; Chatfield out

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Canes' Morrow makes playoff debut; Chatfield out

RALEIGH, N.C. — Carolina Hurricanes defenseman Jalen Chatfield was out for Game 1 of their Eastern Conference finals series against the Florida Panthers, opening the door for 22-year-old Scott Morrow to make his postseason debut.

Chatfield missed Game 5 against the Washington Capitals in the previous round with an undisclosed injury. He skated on Tuesday in Raleigh ahead of Game 1 but was eventually ruled out.

With Chatfield out, Morrow got the call. He’s in his second NHL season, having played two games in 2023-24 and 14 this season, with six points and 15:48 in average ice time. Morrow has been considered one of the best defensive prospects in the Hurricanes’ system since they selected him 40th overall in the 2021 NHL draft. He spent three seasons with UMass before turning pro in 2024.

Morrow had 39 points in 52 games for the AHL Chicago Wolves this season.

He’s a right-handed defenseman like Chatfield, while Alexander Nikishin shoots left-handed. Coach Rod Brind’Amour said that would be a factor in his decision to play Morrow.

“He’s been around a little longer, knows our system a little better than I think Nicky does,” said Brind’Amour of Morrow. “He played well when he came up. I think he’s earned the right to have a shot, so we’ll see.”

The Hurricanes hosted Game 1 of the conference finals at 8 p.m. ET on Tuesday night. It’s a rematch of the 2023 conference finals that saw the Panthers eliminate Carolina in four games. Game 1 of that series, also held in Raleigh, was a four-overtime classic that ended with a Matthew Tkachuk goal just 13 seconds before a fifth extra session.

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