Crypto news

Dogecoin Slumps 3%, Bitcoin Steady Around $85K as Traders Fear U.S. Recession

BBG News

What to know:

  • Dogecoin fell 3% while Bitcoin and Ether remained stable amid easing tariff concerns and rising U.S. recession fears.
  • Prominent financial figures warn of a potential U.S. recession by 2025, with betting markets placing 40% to 60% odds.
  • Mantra’s OM token surged 20% after a dramatic sell-off, while VeThor’s VTHO rose 37% with UFC CEO Dana White joining as a strategic advisor.

In a world where fortunes rise and fall like the most capricious of winds, Dogecoin, that cheeky little token, found itself shedding 3% of its value, while Bitcoin and Ether seemed to have found a quiet peace—stubbornly remaining flat. The source of this unholy cocktail of emotions? Tariffs seem to have taken a backseat, leaving room for traders to worry about the beast in the shadows: the U.S. recession.

“Prominent financial figures are now boldly stating that the U.S. is barreling towards an imminent recession,” reported Augustine Fan, the head of insights at SignalPlus. A fascinating prediction from a man who, it seems, reads the future from a teacup. “Betting markets are placing odds between 40% and 60% that we’ll all be sipping from the bitter cup of recession by 2025,” he added in a Telegram message, sounding ominously wise. “But I’ll tell you this—whether it happens or not, it’s how people feel that creates reality, not the other way around.” Oh, how true that is! If only emotions paid the rent.

In an ideal world, these fears might fade like so many poor decisions after a sleepless night. But alas, crypto has taken a strange comfort in these volatile times. “Crypto has been the beneficiary of the recent shake-out,” said Fan. “Equities have been suffering from volatility while Bitcoin has stayed strong, flexing its muscles as a ‘store of value.’” Yes, Bitcoin—the majestic beast that keeps roaring in the face of chaos. It almost feels like a slow motion epic, doesn’t it?

The market, however, was not kind to many of the usual suspects. A swath of cryptos, tracked by the CoinDesk 20, fell a near 2%, with Dogecoin leading the charge downward. The likes of Solana, Tron, and Cardano felt the sting too, with losses of up to 2.5%. Bitcoin, ever the stableman in this chaotic world, clung to the $85,000 mark as though it had discovered a personal treasure chest in the middle of a storm.

But here’s a tale of redemption amid this financial gloom. Mantra’s OM token, after a bizarre and inexplicable sell-off that saw it plummet by 90% in a single hour (how? Why?), staged a remarkable 20% recovery. Well, isn’t that just how markets work? A dramatic fall followed by the rise of hope! Though, skeptics remain. They always do. After all, promises are like mist in the early morning—they vanish just as quickly as they appear.

Elsewhere, Story Protocol’s IP also had its own dramatic story to tell. It slumped 20%, only to rise more than 30% hours later. Traders had whispered to each other—could it be the same strange fate that befell Mantra’s OM? The crypto world is nothing if not dramatic. I swear, the whole space is a never-ending soap opera.

VeThor’s VTHO, meanwhile, made a stunning 37% climb, perhaps because UFC’s Dana White decided to put on his strategic advisor hat for the protocol. Oh, the power of celebrity endorsements! Will this be the key to mainstream adoption of the token? Maybe. But I’d advise not holding your breath while waiting.

Meanwhile, Singapore-based QCP Capital, true to its name, decided to throw in some bearish warnings into the mix. According to a Telegram message, BTC risk reversals still favored the ‘put’ side until June. So, traders, be cautious—don’t get too carried away by the sweet scent of optimism. “Aggressive buying of a BTC-100k option was observed on Saturday,” said QCP. So, you know, $100K might still be a thing. But hey, who’s counting?

“The Federal Reserve has assured the markets that it’s ready to intervene in the event of a crisis,” said Jupiter Zheng of HashKey Capital, forever the voice of reason in these tumultuous times. “With the U.S. negotiating trade deals, we hope the worst of it is behind us.” Oh, how nice it must be to have such calm, collected assurance. If only we could all be so composed in a storm. Or in crypto, for that matter.

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2025-04-15 08:18

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