CoinMarketCap Spotlight Logo Looks like Bitcoin's wild ride has finally hit a bit of a roadbloc

Looks like Bitcoin's wild ride has finally hit a bit of a roadblock. Just when we thought the OG crypto was unstoppable, inflation data and rumors of Grayscale potentially selling off some of their holdings have thrown a wrench in the works. As Bitcoin took a breather, the rest of the market followed suit, slowing down their momentum like a chain reaction.
But hey, that's how crypto works! While some might be scratching their heads and wondering if the recent euphoria was a bit too much too soon, we're here to keep you in the loop with today's top crypto news.
TLDR:

• Bitcoin's rally cracks under pressure
• UK judge says "no way, José" to Craig Wright's claims of being Satoshi Nakamoto
• U.S. senators urge SEC to pump the brakes on new crypto ETF approvals
• Crypto.com gets penalized for playing fast and loose with Dutch regulations
• Xverse integrates Runes protocol to spice up Bitcoin token creation and trading

Now, let's dive deeper into these stories!
MARKET OVERVIEW

GLOBAL MARKET CAP2.56T▼7.63% (24H)24H MARKET VOLUME$212.01B▲58.02% (24H)BITCOIN’S DOMINANCE51.84%▼0.06% (24H)

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Cracks Emerge in Bitcoin's Rally

Bitcoin finally tapped the brakes on its epic price run after touching new all-time highs yesterday. The culprits? An inflation jump that dampened spirits and hints that GBTC might add selling pressure.
While only a modest 8% dip so far, it's notable given the incredible momentum over the past month. And understandably gives HODLers pause on whether unmatched euphoria pushed valuations too far beyond the fundamentals.
Especially if other major holders join Grayscale in taking some risk off the table. Their Bitcoin migration patterns suggest a desire to cash out chunky positions before the markets turn.
But didn’t most Bitcoin ETFs see record capital inflows this week? What happened to that “supply crunch” we have been hearing about? Read the full story!

Is Wright Satoshi Nakamoto?

A years-long legal battle took a turn this week as a UK judge rejected Dr. Craig Wright's claims of being Bitcoin's creator, Satoshi Nakamoto.  
The ruling states Wright did not author Bitcoin's whitepaper, adopt the Nakamoto pen name, create the Bitcoin system itself, or write its early software. A sweeping refutation of ownership from Wright.
Wright has long faced skepticism over his inability to definitively prove he is Nakamoto despite promising to do so. But by taking things to court, he risked definitive legal consequences.  
So all this Wright drama is finally over? Or can he still prove he is the real Satoshi Nakamoto? Read the full story!

Crypto ETFs Are Risky

Interesting developments on the regulatory front this week. Two U.S. senators urged the SEC to halt approvals for any new crypto ETFs due to perceived risks for retail investors.
While not an outright ban, Senators Reed and Butler expressed worries that thinner trading volumes outside of Bitcoin make pricing vulnerable to manipulation tactics. They cautioned against using Bitcoin ETF clearances as precedent for automatically greenlighting other asset-based funds (meaning ETH ETFs and XRP ETFs).  
Did the SEC respond to these requests? Will we get approved Ethereum ETFs in May? Read the full story!
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Crypto.com Penalized

Crypto.com is facing intense scrutiny after the Dutch central bank levied a multi-million dollar fine for operating without proper registration for over two years.
The penalty originates from failing to comply with anti-money laundering requirements that mandate registration for crypto companies servicing Dutch citizens. And at $3.1 million, it's no slap on the wrist.
What other factors caused this fine to increase? Are other exchanges in danger? Read the full story!

Xverse To Integrate Runes

Bitcoin wallet startup Xverse is gearing up by integrating support for the upcoming Runes protocol. 
Created by Ordinals founder Casey Rodarmor, Runes aims to improve upon existing methods for creating and trading fungible tokens on Bitcoin. The goal? A faster, more efficient standard is purpose-built for Bitcoin.
Xverse believes Runes can address limitations holding back adoption like congestion and data inconsistencies. 
By baking in support early, they want to incentivize developers and users to put Runes through its paces. Read the full story!