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.
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.
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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.
The first round of the 2025 Stanley Cup playoffs has heated up, and the end of many series is approaching. How many teams will move on with clinching games Wednesday night?
Staggered just 30 minutes later is the possible final game of the 2025 edition of the Battle of Florida (7:30 p.m., ESPN2). Will the Florida Panthers get win No. 4, or can the Tampa Bay Lightning draw the series to 3-2?
Historically, teams that have a 3-1 series lead have gone on to win the series 90.8% of the time in Stanley Cup playoff history. The Capitals’ record in that scenario is 8-5, which is 62%.
Cole Caufield is taking many shots. His 21 shots on goal are the second most in the playoffs (trailing Nathan MacKinnon, with 31), and he has had 11 shot attempts blocked, which is tied for second most in the playoffs, behind Jack Eichel.
Alex Ovechkin has scored the most goals in NHL regular-season history, and he is 13th on the all-time playoff list with 75. His next will tie Mario Lemieux for 12th.
Anthony Beauvillier is the first player in Capitals history to record an assist in each of his first four playoff games with the club, and the fourth with at least one point, following Dave Christian (five GP in 1984), Adam Oates (four GP in 1998) and Mike Knuble (five GP in 2010).
In the 2025 playoffs, home teams have a 23-10 record. That script has flipped in the Battle of Florida series as the road team has won three of four games.
The Panthers are 5-0 all time when leading a playoff series 3-1, closing out three of the previous series in Game 5. The Lightning are 1-5 all-time in a best-of-seven series when trailing 1-3.
Andrei Vasilevskiy has been doing his part: He allowed five goals combined in Games 2-4 (.936 save percentage) after allowing six goals in Game 1 (.647).
Matthew Tkachuk is tied with Nate Schmidt for the Panthers’ goal-scoring lead this series (three), and has 20 in 48 career playoff games with Florida; that is third most in franchise history, behind Sam Reinhart (22 in 59) and Carter Verhaeghe (27 in 65).
With each game and win, Sergei Bobrovsky adds to his lead in each category since the start of the 2023 playoffs (47 games played, 31 wins).
Jets goalie Connor Hellebuyck has encountered another postseason rough patch. He allowed 11 goals combined in the past two games, and has now allowed four-plus goals in 10 of 14 starts the past three postseasons. That is a 71% rate, and his regular-season rate for that same stat is 17% in the same three-season span.
After starting the series hot — with five points in the first two games, both wins for the Jets — Mark Scheifele has been pointless in the two losses in Games 3 and 4. Kyle Connor has been just slightly better, with four points in the first two and just one goal in the ensuing two.
Although the Jets outshot the Blues 31-23, Jordan Binnington was up to the task in Game 4, stopping all but one. Overall this postseason, Binnington has a .907 save percentage and 2.29 goals-against average. In the Blues’ Stanley Cup run in 2019, he finished with a .914 save percentage and 2.46 goals-against average.
In-season trade addition Cam Fowler is playing in his first postseason since 2017, and he’s making up for lost time, leading the Blues with eight points (one goal, seven assists) through four games. Fowler’s career-high postseason point total was 10 in 16 games in the 2015 playoffs.
Arda’s three stars from Tuesday night
Ullmark recorded his first career playoff shutout, becoming the second goalie in Senators franchise history (with Craig Anderson) to secure a shutout in a potential elimination game.
Two goals, including the overtime winner, to cap a three-point night to send the Hurricanes to the second round with a 5-4 win. The Canes scored three goals in four minutes in the second to tie the game after going down 3-0 early. This was Aho’s 10th career postseason power-play goal, which ties Eric Staal for the franchise record.
Tkachuk and Stutzle are the first Senators teammates to have three points when facing elimination in franchise history. They’ll get another chance at it Thursday at home.
Senators goaltender Linus Ullmark faced questions heading into this postseason, as his playoff career performances had not been up to par with his regular-season success. On this night at least, he was stellar. Ullmark stopped all 29 shots the Maple Leafs directed at him, and the Senators got goals from Thomas Chabot and Dylan Cozens, with empty-netters by Tim Stutzle and Brady Tkachuk capping the evening. Full recap.
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Dylan Cozens doubles lead for Senators in Game 5
Dylan Cozens’ goal in the third period gives the Senators some breathing room in Game 5 vs. the Maple Leafs.
It was a wild one Tuesday night in Raleigh, with eight goals between the two teams through two periods. The goalies shut it down for 40 minutes thereafter, with the teams going scoreless in the third period and first overtime. It wasn’t until 4:17 of the second OT when Sebastian Aho scored the game- and series-winning goal. Full recap.
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Sebastian Aho slots in a goal for Hurricanes
Sebastian Aho answers with the Hurricanes’ fourth goal of the second period to tie the game 4-4 vs. the Devils.
The teams traded a pair of goals early on the same Minnesota power play — William Karlsson scoring short-handed and Kirill Kaprizov notching the power-play tally — and Mark Stone capped off the first period with a goal at 13:24. The score would remain 2-1 Knights until 3:31 of the third, when Matt Boldy tied things the game at two. The Knights needed just 4:05 of the first OT period to score the game-winner off the stick of Brett Howden. Full recap.
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Brett Howden nets OT winner for Golden Knights to seal Game 5
Brett Howden’s close-range snap shot finds the back of the net to win it in overtime for the Golden Knights and claim a 3-2 series lead vs. the Wild.
After wins in the first two games of the series, the Kings are now looking up at the Oilers — the team that has beaten them the past three postseasons. The Kings were on the board first via an Andrei Kuzmenko power-play goal in the second, but Evander Kane would tie things up less than three minutes later. The eventual game-winner came off the stick of Mattias Janmark 7:12 into the third, and Ryan Nugent-Hopkins added an empty-net goal to put the game further out of reach. Full recap.
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Mattias Janmark puts the Oilers ahead in the 3rd
Mattias Janmark scores off the rebound to give the Oilers the lead in the third period vs. the Kings.
Will the Presidents’ Trophy curse claim a new victim this year?
For the past 11 NHL seasons, the winner of the trophy — awarded to the team with the most regular-season points — has failed to win the Stanley Cup. In fact, none of the last 11 Presidents’ Trophy winners have even played in the Stanley Cup Final.
All told, of the 38 seasons when the trophy has been awarded, just eight of its victors have also lifted the Stanley Cup. With the Winnipeg Jets‘ series against the St. Louis Blues in the first round of the playoffs knotted at two games apiece, could the curse be looming large again?
Here’s a look at the eight squads the Jets will be hoping to emulate that defied the curse:
The most recent team to take home both the Presidents’ Trophy and Stanley Cup, the Blackhawks earned the regular-season crown in a campaign that didn’t start until January due to lockout. Patrick Kane would go on to earn Conn Smythe Trophy honors after a postseason in which he posted nine goals (tied for second on the team) and 10 assists (third on the team).
Winning the Central Division by an impressive 24-point margin, the Red Wings bolstered the best goals-against record in the league and raced to an impressive 115-point regular season. Henrik Zetterberg, the team’s top goal scorer in the regular season, won the Conn Smythe after a 27-point postseason.
Detroit Red Wings, 2001-02
Not to be outdone by their franchise counterparts six years later, the Red Wings turned in a regular season that not only saw them win the Central Division by 18 points, but top the overall league standings by a 15-point margin as well. The Conn Smythe went to Hall of Fame defenseman Nicklas Lidström, capping off the third of his three Stanley Cup triumphs in Detroit.
Combined with the Red Wings’ subsequent title, Colorado’s Stanley Cup win marks the only time in league history teams won both the Presidents’ Trophy and Stanley Cup in back-to-back years. Goalkeeper Patrick Roy was awarded his third Conn Smythe — a record that still stands today.
Dallas led the league in goals allowed, a trend that continued into the postseason. In just one of the Stars’ 12 postseason wins did the team concede more than two goals. Centers powered the squad’s offense — Mike Modano’s 81 regular-season points led the team by a sizable margin, while Joe Nieuwendyk earned the Conn Smythe.
After the regular season saw the Rangers beat local rivals the New Jersey Devils to both the Atlantic Division crown and the Presidents’ Trophy, New York’s postseason didn’t lack for rivalry thrills either.
The Rangers met New Jersey in the Eastern Conference finals, coming away victorious in a seven-game series that featured three games decided by double overtime. New York’s subsequent Stanley Cup Final series with the Vancouver Canucks would go seven games as well, with Conn Smythe winner Brian Leetch scoring the opener in the decisive final game.
The 1988-89 NHL season was all about Calgary and the Montreal Canadiens, who posted 117- and 115-point regular seasons respectively — no other team in the league amassed more than 92. Fittingly, the two squads met in the Stanley Cup Final, where the President Cup champion Flames bested Montreal again, topping the Canadiens in six games. Defenseman Al MacInnis racked up 24 postseason assists en route to Conn Smythe honors.
Led by Wayne Gretzky at his peak, Edmonton raced to a 106-point regular season as Gretzky led the NHL in goals, assists and plus/minus as he earned his eighth Hart Trophy. Unsurprisingly, Gretzky was a driving force in the Oilers’ postseason march as well — he totaled 29 assists as Edmonton won its third Stanley Cup in what would end up being a run of four Cups in five years for the franchise.
Apple CEO Tim Cook poses as Apple holds an event at the Steve Jobs Theater on its campus in Cupertino, California, on Sept. 9, 2024.
Manuel Orbegozo | Reuters
The most anticipated part of Apple’s Thursday earnings won’t be iPhone sales or Mac forecasts – it’ll be CEO Tim Cook’s comments on how the company is dealing with President Donald Trump’s tariffs.
Apple is one of the most exposed companies to Trump’s tariffs and expected retaliation. It makes about three-quarters of its overall revenue from physical goods — iPhones, Macs and Apple Watches — mostly made in China or elsewhere in Asia. And the U.S. is its largest market.
“It’s how Apple responds to ‘everything else’ that will set the tone for post-earnings sentiment,” wrote Morgan Stanley analyst Erik Woodring in a Monday note.
He has an overweight rating on the stock, and wants to hear what Cook and Apple finance chief Kevan Parekh have to say about how the company is mitigating supply chain and tariffs risks, if Apple will raise prices or eat costs, and the status of Cook’s relationships with Trump and Chinese President Xi Jinping.
Apple hasn’t commented on the hefty tariffs Trump announced for every country in the world on April 2, but they represent a deep threat to the iPhone maker’s supply chain and sent the company’s share price down 9%.
“We are monitoring the situation and don’t have anything more to add than that,” Cook said during Apple’s January earnings call. Those were the company’s most recent comments on Trump’s trade policy.
Apple is perhaps the highest-profile example of a company that’s gotten caught up in Trump’s trade war.
It’s the most valuable U.S. company, hundreds of millions of Americans own iPhones and Cook built his reputation in Silicon Valley as an operations expert who keeps Apple’s inventory low and its logistics tight.
But Apple and Cook have stayed tight-lipped publicly even as Trump administration officials called for the company to move iPhone production to the U.S., imagining millions of Americans “screwing in little screws” to build the devices.
The White House suggested that Apple was capable of building iPhones in the U.S., something that many analysts said is impossible at worst and would result in a $3,500 iPhone at best.
“I speak to Tim Cook. I helped Tim Cook, recently, and that whole business,” Trump said in an oval office briefing earlier this month after he delayed the highest-tariffs on non-China nations for 90 days. It was a move that boosted Apple stock. Cook has maintained a line of communication with the Trump administration, according to Trump, dating back to his first term.
Apple CEO Tim Cook escorts President Donald Trump as he tours Apple’s Mac Pro manufacturing plant with Treasury Secretary Steven Mnuchin looking on in Austin, Texas, November 20, 2019.
Tom Brenner | Reuters
Now it’s time to hear from Apple itself.
The tariffs are a material issue that will eventually affect the company’s financials. TD Cowen predicts that the current tariffs will cost Apple about 6% of its annual earnings this year. Apple reported about $94 billion in profit in its fiscal 2024.
It’s not just investors that want a peek into Apple’s thinking — Sen. Elizabeth Warren, D-Mass., questioned Cook about what he discussed with the Trump administration ahead of the president’s decision to pause tariffs on non-China nations.
Apple’s share price remains lower than it was on April 2, even though analysts have said the pause will give Apple some flexibility to avoid the highest tariffs, thanks to its production locations in India and Vietnam.
Several recent reports have said that Apple will try to source as many iPhones as possible from from India, which only faces a 10% tariff, to avoid the highest 145% tariffs on China. But although Apple has been ramping up iPhone production in India since 2017, the company has only recently begun to ship commercially significant quantities in recent years, and Apple hasn’t confirmed the pivot to India or discussed its Indian production capabilities.
“While it’s possible for all 25 million of India capacity to be allocated to the US near-term, we think it could take approximately a year for production to double to 50 million overall,” TD Cowen analyst Krish Sankar wrote Monday, saying that Apple is expected to sell between 65 million and 70 million iPhones in the U.S. this year.
Apple declined to comment on sourcing iPhones to the U.S. from India.
Another closely-watched metric will be Apple’s China revenue, which could indicate if rising nationalism will hurt iPhone sales in the company’s third largest market, which includes Hong Kong and Taiwan.
Some analysts have noted that the smartphone owners in China are more likely to switch phone brands than Western consumers. There’s concern that now those Chinese consumers could take cues from media and government officials and buy Chinese phone brands, such as phones made by Huawei.
Dipanjan Chatterjee, principal analyst at Forrester, said that if Apple were to move a lot of production out of China, it would also have to consider if that could upset the Chinese consumer.
“If Apple is going to pull production out of China, that’s not going to go down well in that market,” Chatterjee said. “They’re going to hedge. You’re going to see a lot more saying and a little bit of tinkering and not a whole lot of doing.”
Analysts polled by FactSet expect Apple to report $1.62 in earnings per share on $94.19 billion in sales, which would be an almost 4% revenue increase on an annual basis.