Bitcoin and Ethereum, Crypto Markets Enter Euphoric Phase, Exclusive Meme Coin 'Dog'

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1. Bitcoin and Ethereum Prices Slide as U.S. Inflation Holds Steady at 3.5%

Bitcoin and Ethereum prices dropped more than 2% following the announcement that the Consumer Price Index increased by 0.4% in March, keeping inflation at 3.5%. The high inflation rate suggests the U.S. Federal Reserve is unlikely to lower interest rates, favoring traditional safe havens like treasury bonds over crypto assets. Despite Federal Reserve Chairman Jerome Powell's confidence in not raising rates in the near term, the uncertainty around inflation readings and economic data has led to volatility in crypto markets.

2. Glassnode Report: Crypto Markets Enter Euphoric Phase, Bitcoin Spot Volumes Surge

Glassnode data indicates that the crypto market is in a state of euphoria, marked by increased investor capital and speculative interest, reminiscent of the 2021 bull run. Bitcoin's performance, fueled by the upcoming halving event and strong demand in spot markets, has led to soaring spot trading volumes and profit-taking. Despite the bullish momentum building since October 2023, the market's balance between long-term holders and new demand suggests the euphoric phase is still in its early stages.

3. Bitcoin Wallets to Receive Exclusive Meme Coin 'Dog' in Upcoming Airdrop

The Runestone project is set to airdrop an exclusive meme coin called 'Dog' to holders of Runestone inscriptions during the Bitcoin halving. This follows a successful airdrop in March. Holders of Runestone inscriptions will receive three meme coins if they still hold them during the Dog airdrop. The airdrop is part of an effort to introduce meme coins to the Bitcoin community and onboard new users to the cryptocurrency space.

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