Crypto And Markets Crash Warnings Grow, Traders Fearful And North Korea Hacked Axie

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Global investors were fearful to see where US tech indexes would be going after a long Easter holiday weekend which was plagued by the war in Ukraine and a lockdown in Shanghai.

Both geopolitical events could have lasting consequences. An early indication of where stocks were headed could be seen in crypto markets, which fell on Monday and rebounded on Tuesday.

Bitcoin traded well below $40,000 on Monday morning (it is now trading above it again) with many in the MSM now repeating the warning we sounded already last week.

That warning came after Arthur Hayes, the co-founder of crypto exchange BitMEX, claimed he expected a crypto crash by June. With markets also looking south for indication and the Fed about to raise interest rates, fears of so-called ‘capitulation’ both in stocks and crypto are growing.

When #Bitcoin soon revisits sub 30Ks, there’s going to be lots of panic.

— Mr. Whale (@CryptoWhale) April 18, 2022

The signal for a break of the mild upward trend would be a consolidation below the $38,000 per bitcoin levels,” Alex Kuptsikevich, FxPro senior market analyst, explained “If the bulls capitulate, the first cryptocurrency could be pushed into the $32,o00 to $35,000 range without much resistance. A consolidation scenario below $30,000 would require an absolute disaster in the financial markets.

Bitcoin Fear and Greed Index is 24. Fear
Current price: $39,732 pic.twitter.com/53DAxoxLc1

— Bitcoin Fear and Greed Index (@BitcoinFear) April 18, 2022

Given that the Bitcoin fear and greed index moved to ‘extreme fear’ on Monday, it is clear that traders are sharing this sentiment now.

Axie Hack Involved North Korea

Lastly, you may remember that this year’s biggest crypto hack so far was for $600 million from the Ronin blockchain, which powers the popular metaverse game Axie infinity. According to FBI documents released last week, the Lazarus Group, which is associated with North Korea, was behind that particular hack.

They were targeting players of the popular Axie Infinity game#NorthKorean #hacker #Lazarus https://t.co/xHaVyYbzLe

— NorthEast Now (@NENowNews) April 15, 2022

We never figured that Kim Kung Un had already caught on to the metaverse but apparently he’s into that as well.