Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. eXch Shuts Down: Crypto exchange eXch will shut down on May 1 after admitting it processed stolen funds from the $1.4B Bybit hack.

2. 📈Technical Analysis Masterclass - Looking for the next big thing in crypto? Hyperliquid is shaping up to be one of the hottest contenders right now. Watch UseTheBitcoin’s latest Youtube video “Why Hyperliquid Could PUMP HARD” to see if its chart is screaming bullish or join our Official Telegram Channel for more alpha!

3. Bybit Cuts Web3: Bybit is ending several Web3 offerings—including wallets and DEX tools—by May 31.

4. 💡Feature of the Day - Silbert Regrets Selling BTC: Barry Silbert admitted that holding Bitcoin would’ve been more profitable than investing in crypto startups.

   
   All this and more in today’s headlines!

📰 News Highlights:

eXch Shuts Down [Source]

Crypto exchange eXch will officially cease operations on May 1 following accusations it was used to launder funds from a $1.4 billion hack of Bybit, allegedly by North Korea’s Lazarus Group.

The management adopted a "cease and retreat" approach after facing pressure from what they described as a “transatlantic operation.”

While eXch initially denied laundering activities, it later admitted to processing a small amount of the stolen funds.

 📈Technical Analysis Masterclass:

Why Hyperliquid Could PUMP HARD

🔍 Technical Breakdown

• Bullish Pattern Forming: Hyperliquid is developing a textbook “W” pattern (double bottom), which often signals a bullish trend reversal.

• Key Resistance Zone:

  • Price is currently testing a $17–$18 resistance level.

  • Multiple rejections here — but if it breaks above with strong volume, expect serious upside.

• Next Target: If breakout confirms, $25–$26 could be the next destination for short- to mid-term traders.

• RSI Check:

  • RSI is still below 70, suggesting it’s not overbought yet.

  • Translation: There’s still room to run before hitting exhaustion levels.

📈 Fundamentals & Hype

• What is Hyperliquid?
  A next-gen platform for decentralized perpetual trading, gaining momentum fast.

• Why It’s Buzzing:

  • Unique scaling and liquidity approach

  • Fast-growing user base

  • Some traders call it “the next Binance”

• Early Advantage: It’s still early days — just like the early BNB days. High-risk, high-reward territory.

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Bybit Cuts Web3 [Source][Source]

Bybit is shutting down four more Web3 services—including Cloud Wallet, Keyless Wallet, DEX Pro, and Swap & Bridge—following the earlier closure of its NFT marketplace.

The exchange is also ending Web3 Points and several other services like its fiat-to-crypto ramp, Apex Pro gateway, and inscription marketplace.

These changes will take effect by May 31 as Bybit refocuses on its core offerings in the aftermath of a $1.4 billion hack earlier this year.

💡 Feature of the Day: 

Silbert Regrets Selling [Source]

Digital Currency Group CEO Barry Silbert admitted he would’ve made more profit by simply holding Bitcoin instead of investing in early-stage crypto startups.

Speaking on the Journey Man podcast, Silbert reflected on buying BTC at $7–$8 in 2011 and using much of it to fund companies like Coinbase.

Despite the potential returns from these startups, Silbert said HODLing would’ve yielded better gains overall.

😂 Crypto Meme of the Day: 

Meme of the day provided by @clayz

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com