Pump.fun’s Newly Launched DEX Hits $1B Trading Volume in First Week
Pump.fun’s decentralized exchange (DEX) has achieved a remarkable milestone, surpassing $1 billion in trading volume within its first week of launch. This impressive performance highlights the growing demand for decentralized trading platforms in the cryptocurrency market.
US Inflation Report Could Boost Bitcoin Rally in April
Investors are closely watching the upcoming Personal Consumption Expenditures (PCE) inflation report from the US Bureau of Economic Analysis (BEA), scheduled for release on March 28. Analysts suggest this report could ease inflation concerns and increase investor appetite for risk assets, including Bitcoin (BTC).
According to Singapore-based digital asset firm QCP Group, the PCE inflation data may serve as the “next key catalyst” for Bitcoin and other cryptocurrencies. QCP noted:
“As we approach Friday’s quarterly expiry, with the highest open interest in topside strikes above $100K, we don’t expect major volatility driven by options positioning alone. But attention will turn to the PCE inflation print, which could become the next key catalyst.”
Global Trade Concerns Still Weighing on Markets
Despite positive developments within the crypto industry, global trade war concerns continue to pressure markets. Nicolai Sondergaard, a research analyst at Nansen, emphasized that tariff-related uncertainties will persist until at least April 2:
“I’m looking forward to seeing what happens with the tariffs from April 2nd onward, maybe we’ll see some of them dropped but it depends if all countries can agree.”
Bitcoin Historically Performs Well in April
Historically, Bitcoin has averaged a 12.9% monthly return during April, making it one of the best-performing months for the cryptocurrency. Analysts anticipate that easing inflation concerns could further fuel Bitcoin’s rally this April.
Bitcoin Could Reach $110,000 Before Correction
Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, predicts Bitcoin could surge to a new all-time high of $110,000 before retracing to around $76,500. Juan Pellicer, senior research analyst at IntoTheBlock, supports this bullish outlook, citing increased institutional interest and recent monetary easing by the Federal Reserve:
“BTC is showing signs of recovery, driven by growing institutional interest and significant investments from large players. The Federal Reserve’s recent decision to ease its monetary tightening could further boost liquidity, favoring a price increase in the near term.”
Pellicer added that while volatility remains a risk, current market momentum suggests Bitcoin is more likely to reach higher targets first.
Quick Summary and Key Points:
- Pump.fun’s DEX surpasses $1 billion trading volume in its first week.
- Upcoming US PCE inflation report could boost Bitcoin and risk assets.
- Global trade war concerns remain a significant market factor.
- Bitcoin historically performs strongly in April, averaging 12.9% returns.
- Analysts predict Bitcoin could reach $110,000 before experiencing a correction.
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