Today, Tuesday, April 8, the price of Bitcoin witnessed a rise in the cryptocurrency trading market, and the price of the cryptocurrency reached $ 79.455.
The cryptocurrency market rose today, Tuesday, April 8, coinciding with the rise in the price of Bitcoin. Through “Special about Egypt”, we review the prices of digital currencies today, Tuesday, April 8, in digital trading sites.
The price of Bitcoin today recorded $ 79.455, increasing the share price of Bitcoin by 5.55% from yesterday, and the volume of trading today in the currency rose to reach about $ 75 billion..
The price of Bitcoin this week ranged between 74.773 – 87.106, and the price of the coin continues to fluctuate.
Cryptocurrency prices today, Tuesday, April 8 Cryptocurrency prices change instantaneously, because they do not depend on banks and are now used as an alternative solution, to send and receive money instead of carrying it.
Crypto prices rise today
Today, Ethereum rose 6.58% to $1.567. The price of XRP shares recorded a rise of 10.52% today, bringing the price of the digital currency today to $ 1.86. The price of BNB today increased by 5.25% from yesterday, to record the value of the digital currency today $ 558.40.
Reasons for the rise in the price of Bitcoin today
There are many reasons for the rise in the price of digital currency and depend on many factors, including:
The interest of many in Bitcoin, especially on the part of the major media, generates waves of negative news and rumors that lead to a decline in the price of the currency.
High demand: As the demand for the digital currency increases by users, its trading price rises and its price decreases as the demand for it decreases.
Geopolitical tensions boost Bitcoin’s rally chances
With China threatening a strong response to Trump’s tariff demands, Bitcoin may be on the verge of a breakthrough, after its history of booming amid geopolitical turmoil.
Geopolitical tensions seem to be drawing attention back to Bitcoin, with Matrixport predicting a potential rally as it did in 2015, when the yuan’s depreciation triggered a sell-off before Bitcoin rebounded by the end of the year.
In a recent research report on X, Singapore’s block chain analysts noted that the USD/CNY exchange rate is approaching key resistance levels, potentially leading to a Bitcoin breakout as the yuan faces increasing pressure.
Despite short-term concerns about US Treasury yields, analysts remain optimistic about Bitcoin’s long-term potential.
All of this links to broader tensions between the US and China, with Beijing announcing that it will “fight to the end” in response to President Donald Trump’s threat to impose 50% tariffs on Chinese goods. The situation has become hotter, with Trump insisting on new tariffs unless China backs back on its retaliatory measures, which already include 34 percent tariffs on U.S. goods.
China has taken a firm stance, warning that further tariffs will highlight the aggressive U.S. approach, which it calls “blackmail”.
The price of Solana’s currency at the beginning of today’s trading in the cryptocurrency market reached about $ 108.53, to record a rise today by 11.2%, the price of Dogecoin today reached about $ 0.15, recording a rise today by 12.56%.
For Bitcoin, analysts point out that rising geopolitical risks and a weakening yuan could provide a good opportunity for growth, as investors look to cryptocurrencies as a way to hedge against inflation and market uncertainty, adding that current prices “may be artificially suppressed,” but they are still “ready for rapid rising”.
Bitcoin user pays huge fees due to panic
One Bitcoin user, apparently, in a panic, paid approximately 0.75 BTC (US$70,500) in a Swap Fee (RBF) transaction fee. The price of Solana’s currency at the beginning of today’s trading in the cryptocurrency market reached about $ 108.53
The transaction in question was sent about 30 minutes after midnight on April 8 UTC. This was the second attempt to make a replacement fee (RBF) other than the target transaction address, sending 0.48 BTC ($37,770) with 0.2 BTC of the rest ($16,357).
Anmol Jane, vice president of investigations at cryptocurrency analysis firm AMLBot, told Cointelegraph that the original transaction included “hypothetical or conservative” fees. The first transaction raised the fee to almost double the amount and changed the output address.
Both transactions are waiting for confirmation that will never come. The much higher fee RBF transaction replaced the second RBF transaction with the same outcome, most likely attempting to raise fees to ensure the RBF processed instead of the original transaction.
The transaction shows signs of a panic error, where the user quickly sends a subsequent transaction to prevent the original transaction from entering a block and becoming a final transaction. Jane suggested some possible explanations:
The second RBF transaction also added an additional input to the output of the unspent transaction (UTXO). This entry contained approximately 0.75 Bitcoin (BTC) worth $79,831. The user likely mistakenly included the change as part of the fee, possibly due to failing to update the change address or miscalculating the transaction structure.
Another possibility posed by Jane is that the user confused charges in absolute terms with specific fees per default byte (transaction size), or that the automated script behind the transaction contains an error.
