Over the past 24 hours, futures bets against higher crypto prices saw losses totaling over $500 million as a strong surge, potentially fueled by a U.S. decision to possibly ease China...
Read moreOver the past 24 hours, futures bets against higher crypto prices saw losses totaling over $500 million as a strong surge, potentially fueled by a U.S. decision to possibly ease China tariffs, resulted in the largest short liquidations since October.
Bitcoin (BTC) rallied from a low of $88,000 on Tuesday to above $93,500 during the Asian morning hours, leading a broader market jump with ether (ETH), Cardano’s ADA, and dogecoin (DOGE) all seeing a 14% increase. Solana’s SOL and XRP also rose by 7%, with all top hundred tokens by market cap showing gains.
Additionally, tokens like Sui Network’s SUI, UniSwap’s UNI, and Near Protocol saw strong gains of up to 18%. Memecoin mog (MOG) surged by 30%, continuing its trend of moving in sync with ETH.
Shorts worth nearly $530 million suffered losses as leveraged bets were unwound, with most short liquidations occurring on Bybit at $234 million, followed by Binance at $100 million and Gate at around $70 million. The largest single liquidation order involved an ETH futures position on Binance, valued at over $4.5 million.
Liquidations happen when an exchange closes a trader’s leveraged position due to a loss of the initial margin. This occurs when a trader doesn’t have enough funds to maintain the trade open.
The spike in crypto markets coincided with Trump’s comments about being open to positive trade talks with China and the possibility of reducing tariffs if a deal is reached. This news helped ease some of the cautious sentiment among traders.
Jeff Mei, COO at BTSE, shared his thoughts on the situation, mentioning the potential for rate cuts and a weakening U.S. dollar, which could explain the surge in bitcoin. If the U.S. dollar continues to depreciate, bitcoin may become a significant store of value as other currencies could also face depreciation.
Overall, the recent market movements reflect a mix of geopolitical factors and investor sentiment, pointing towards a potentially interesting period for the cryptocurrency market.
Galaxy Digital, a firm led by Mike Novogratz, has reportedly exchanged $100 million worth of ether (ETH) for solana’s SOL. According to on-chain data sourced from Wu Blockchain, Galaxy recently transferred...
Read moreGalaxy Digital, a firm led by Mike Novogratz, has reportedly exchanged $100 million worth of ether (ETH) for solana’s SOL. According to on-chain data sourced from Wu Blockchain, Galaxy recently transferred 65,600 ETH (approximately $105 million) to Binance and withdrew 752,240 SOL (around $98.37 million) over the span of two weeks.
The move by Galaxy could be attributed to the fact that Standard Chartered recently stated that ETH is experiencing a “structural decline” and reduced its year-end price target for the asset. Data from an Arkham dashboard reveals that Galaxy Digital currently holds $87.9 million in ETH compared to $23.86 million in SOL.
Despite the lack of comment from Galaxy Digital on the matter, market data indicates that SOL has seen an 8% increase in value over the past month, while ETH has declined by almost 20%. Standard Chartered also mentioned in its note that tokenized real-world assets could potentially stabilize Ethereum, even though the platform has experienced a significant decrease in market capitalization.
Further data from Dune Analytics showcases that decentralized exchange volume on Solana has surpassed $500 billion in the last three months, outperforming Ethereum, whose DEX volume is less than $400 billion. Additionally, active addresses on Solana have exceeded 220 million, while Ethereum and Ethereum Layer-2 addresses combined total just over 80 million.
Some in the cryptocurrency space, like Tron’s Justin Sun, have proposed implementing a tax on Layer-2s as a potential solution to Ethereum’s declining performance. However, this idea has yet to be formalized into an Ethereum Improvement Proposal (EIP) to move closer to implementation.
On another note, flow data from Ether ETFs indicates that investors have withdrawn nearly $600 million from these products in the past two months.
When Friends With Benefits made waves in the world of crypto back in 2020, it quickly became a topic of conversation due to its enticing nature. Sporting a flirtatious name and...
Read moreWhen Friends With Benefits made waves in the world of crypto back in 2020, it quickly became a topic of conversation due to its enticing nature. Sporting a flirtatious name and boasting members like Erykah Badu and Azealia Banks, it became a club that many desired to join.
Emerging during a time of lockdowns and a yearning for connection, Friends With Benefits filled a void and demonstrated that crypto could truly unite people. Over 6,000 individuals bought into the token, becoming members, and chapters began popping up in various locations worldwide, particularly in trendy tech hubs such as Los Angeles and New York City.
The New York Times, known for its coverage of crypto-related topics, playfully poked fun at FWB. In a 2022 article, the publication recounted a story of members collaborating with a coffee company to create a “flavored, sparkling yerba maté,” increasing its price from $2 to $6. This seemed to suggest that the group consisted of crypto enthusiasts with unique ideas, disposable income, plenty of time, but perhaps little to show for it.
Despite the jesting tone of the article, the New York Times acknowledged the innovative aspect of FWB. Describing the group, primarily formed on Discord, as a “decentralized Soho House” and a “VIP lounge for crypto’s creative class,” the NYT noted that they were tokenizing a community with a DAO, showcasing the ability to create tangible value in addition to online presence. The article mentioned that FWB had raised $10 million from investors and, following a funding round led by Andreessen Horowitz, was valued at $100 million.
Initially, the exact purpose of FWB was somewhat ambiguous. While the group excelled at organizing exciting events worldwide, building a community, garnering media attention, and driving up token prices, its long-term objectives remained uncertain.
CEO Greg Bresnitz acknowledged the group’s early model as a simple group chat with a token, emphasizing that the benefits were initially limited.
Moving ahead to 2025, post-FTX and The Crash, FWB has transitioned into a more serious entity. The focus now lies on developing products that genuinely appeal to users, with ambitions to expand Web3 beyond specialized financial offerings. The emphasis has shifted from flavored yerba mate to deeper innovation in music, film, and cultural domains.
Introducing Friends With Builders, a cohort-based building program in partnership with several industry giants, including AWS, Alchemy, and ThirdWeb. The initiative aims to bring together creative technologists to collaborate on early-stage projects every quarter, utilizing tools provided by the partners. The inaugural cohort, centered on AI agent development, is currently accepting applications until April 28.
Bresnitz clarified that Friends With Builders is not your typical hackathon, emphasizing the focus on developing tangible products rather than winning cash prizes. The program encourages builders to incorporate Web3 technology discreetly into their projects, prioritizing utility over the overt presence of crypto elements.
Bresnitz highlighted projects like Blackbird, a restaurant loyalty app with its own cryptocurrency called FLY, as exemplifying the type of products FWB intends to nurture. The program aims to attract a new breed of individuals to the industry, focusing on creative technologists who understand user needs and utilize technology to address them effectively.
Builders in the program will gain access to founder support from partner groups, networking opportunities, developer credits, and extensive DevRel assistance.
Friends With Builders will operate in quarters 1, 2, and 4, with quarter 3 reserved for the annual FWB FEST gathering in California, where participants will showcase their work. Recent collaborations with World (formerly Worldcoin) resulted in the creation of 40 new mini-apps, with selected projects receiving investor interest.
Bresnitz remains a staunch proponent of his initiative, emphasizing a need for the industry to push boundaries and explore new approaches within the Web3 space.
“We haven’t cracked the code yet. This, to me, is about saying ‘can we try something different?’”
The global economic tensions and trade policy uncertainties are causing volatility in the cryptocurrency market, but SOL is handling these challenges better than many other options. The price of Solana token...
Read moreThe global economic tensions and trade policy uncertainties are causing volatility in the cryptocurrency market, but SOL is handling these challenges better than many other options. The price of Solana token rose more than 4% on Thursday, outperforming the broader market gauge. The $125-$127 range has emerged as a critical support zone for SOL, while the $133.50-$133.60 area is a significant resistance level.
According to blockchain data, over 32 million SOL (more than 5% of the total supply) has accumulated at the $129.79 level, making it a crucial pivot point for future price movements.
Key highlights from the technical analysis include SOL establishing a strong support zone between $125-$127, showing resilience by recovering 4.5% from its recent low, and reclaiming the top spot in DEX activity. The launch of the first spot Solana ETFs in North America has also boosted institutional interest in SOL.
Volume analysis indicates strong accumulation during a surge in the afternoon of April 16th, with over 3 million units traded as the price surpassed the $130 resistance level. However, SOL experienced a significant downward correction towards the end of trading, dropping from $134.11 to $130.81.
The article was created with AI tools and reviewed by the editorial team to ensure accuracy. External references used in the article are listed for further information.
Token debuts can be a controversial topic, often facing criticism for their poor execution which allows individuals to profit through front-running campaigns by supposedly having insider information about upcoming launches. The...
Read moreToken debuts can be a controversial topic, often facing criticism for their poor execution which allows individuals to profit through front-running campaigns by supposedly having insider information about upcoming launches.
The most recent example is the “Base is for everyone” token introduced by Coinbase’s Ethereum Layer 2 solution Base. Three crypto wallets acquired tokens before the official announcement, resulting in significant profits, according to blockchain sleuth Lookonchain.
Base announced the token’s debut through Zora, an on-chain social network, at around 19:30 UTC on Wednesday. The token quickly reached a market capitalization of over $15 million, bringing substantial gains to at least three crypto addresses that purchased coins before the official announcement.
According to Lookonchain, three wallets bought a significant amount of “Base is for everyone” before Base’s announcement and made a profit of approximately $666K. One wallet address invested 1.5 ETH to purchase 256.39 million units of the token and sold it for 108 ETH after the official announcement, earning $168,000 in just over an hour. Another address made a profit of $266,000, and a third address earned $231,800.
Following the announcement of another coin for FarCon poster, the token’s market capitalization dropped to less than $2 million, resulting in losses for those who invested in the Base is for Everyone token. However, valuations have since recovered, with the market capitalization of Base is for everyone surpassing $18.
Base clarified that the Base is for everyone coin is not the official cryptocurrency of Base, and the layer 2 did not directly sell them. The legal disclaimer on Zora also confirmed that Base will never sell these tokens.
The rapid rise and fall of these smaller tokens can create a negative wealth effect, benefiting only a select few while the majority face losses. This can lead to a drain of liquidity from the broader digital assets market. This year’s debut of LIBRA and TRUMP tokens resulted in the destruction of millions in investor wealth, marking a significant price top in bitcoin and the broader crypto market.
Equity and crypto markets took a hit late Tuesday as Nvidia shares plummeted in after-hours trading following a $5.5 billion charge linked to the Trump administration’s ban on the company’s H20...
Read moreEquity and crypto markets took a hit late Tuesday as Nvidia shares plummeted in after-hours trading following a $5.5 billion charge linked to the Trump administration’s ban on the company’s H20 chip sales to China.
Bitcoin, the top cryptocurrency by market value, dropped to $83,600, continuing its decline from the earlier two-week high of $86,440. XRP and Cardano’s ADA token also saw decreases, with XRP falling over 2% to $2.08 and ADA slipping 4% to $0.61. The CoinDesk 20 Index, a broader market indicator, weakened by over 2%.
Shares related to artificial intelligence fared poorly as NVDA shares dropped 8% to $89.10 after the company revealed that it expects to write down $5.5 billion in the fiscal first quarter due to restricted exports of its H20 chip to China.
The futures linked to the Nasdaq index also fell over 1%, providing negative signals for risk assets. The upcoming U.S. retail sales report for March is expected to show a 1.2% increase in consumer spending, which could help alleviate recession concerns arising from trade tensions.
Federal Reserve Chairman Jerome Powell is scheduled to speak on Wednesday about his outlook for the U.S. economy. Market-based measures like inflation breakevens have decreased amid trade tensions, potentially giving the Fed room to cut rates.
Federal Reserve Governor Christopher Waller recently stated that the bank may need to quickly implement rate cuts if President Trump reinstates tariffs unveiled on April 2. Trump announced tariffs on 180 nations but suspended them for most nations, excluding China, for 90 days.
Tokens linked to artificial intelligence (AI) performed poorly compared to major cryptocurrencies in the last 24 hours. This relative weakness coincided with unusual activity in put options related to Nvidia (NVDA)...
Read moreTokens linked to artificial intelligence (AI) performed poorly compared to major cryptocurrencies in the last 24 hours. This relative weakness coincided with unusual activity in put options related to Nvidia (NVDA) shares, the chipmaker that recently announced plans to manufacture its AI supercomputers in the U.S.
Bitcoin (BTC), the leading cryptocurrency by market capitalization, saw a 0.6% increase in value to $85,500 over the past day. Meanwhile, TAO, the token associated with Bittensor’s blockchain-based machine learning network, traded 3.6% lower at $239, and Render Network’s RNDR token was down 1.7% at $3.93, according to data from Coingecko. Other tokens like FET, SEI, and GRT also experienced a 2% decline.
Data from Convex Value showed increased activity in Nvidia short-dated put options on Monday, particularly in the $100 strike puts expiring on April 17, April 25, and May 2. There was also interest in the $60 put expiring on April 17, as well as the $50 and $85 strike puts expiring on May 16.
Convex Value described the trading in out-of-the-money put options below Nvidia’s current spot price of $110 as unusual, suggesting that these could be protective plays. According to an analyst at the platform, buying put options is a way for traders to hedge against potential market declines or profit from bearish scenarios.
Merlin Capital, a Substack-based analytics service, hinted at insider knowledge with a post on X saying, “Someone knows something.” This suggests that there may be information influencing the recent options activity surrounding Nvidia’s stock.
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By [Your Name] (All times ET unless indicated otherwise) Bitcoin (BTC) continues to defy global economic uncertainty, inching closer to reclaiming $86,000. It is now less than 3% away from its...
Read moreBy [Your Name] (All times ET unless indicated otherwise)
Bitcoin (BTC) continues to defy global economic uncertainty, inching closer to reclaiming $86,000. It is now less than 3% away from its “Liberation Day” high. To put the move into perspective, bitcoin dominance — which measures BTC’s share of the total cryptocurrency market cap — is approaching 64%, a level not seen since January 2021.
In contrast, the Nasdaq 100 is still 5% away from its own Liberation Day high, underscoring bitcoin’s relative strength versus U.S. equities.
According to X account Cheddar Flow, the S&P 500 has just formed a “death cross” — a traditionally bearish signal that occurs when the 50-day moving average falls below the 200-day moving average. The last time this happened was March 15, 2022, when S&P 500 initially rose by 11% in the following week, only to be followed by a 20% decline. Bearish sentiment is also reflected in the options market, where investors are reportedly buying large volumes of NVDA puts, signaling expectations of lower prices.
In a Bloomberg interview on Monday, Treasury Secretary Scott Bessent reaffirmed confidence in the U.S. bond market, dismissing concerns that foreign nations are dumping Treasuries.
“I am not seeing a dumping of U.S. Treasuries,” Bessent said. “The Treasury has lots of tools, but we’re a long way from needing them.” He also emphasized the enduring status of the U.S. dollar as the world’s reserve currency, despite the DXY index — which measures the dollar’s value against a basket of major trading partners — falling below 100 and dropping over 10% in recent weeks.
Bessent also confirmed that the Trump administration is seeking a new Federal Reserve Chair to replace Jerome Powell, with interviews set to begin later in the year. He concluded the interview by suggesting that the VIX (S&P 500 volatility index) may have peaked after the largest one-day percentage drop in its history last week. Stay alert!
What to Watch:
Crypto:
April 15: The first SmarDEX (SDEX) halving means the SDEX token’s distribution will be cut by 50% for the next 12 months.
April 16: HashKey Chain (HSK) mainnet upgrade enhances network stability and fee control capabilities.
April 17: EigenLayer (EIGEN) activates slashing on Ethereum mainnet, enforcing penalties for operator misconduct.
April 18: Pepecoin (PEP), a layer-1, proof-of-work blockchain, undergoes its second halving, reducing block rewards to 15,625 PEP per block.
April 20, 11 p.m.: BNB Chain (BNB) — opBNB mainnet hardfork.
April 21: Coinbase Derivatives will list XRP futures pending approval by the Commodity Futures Trading Commission (CFTC).
Macro:
April 15, 8:30 a.m.: Statistics Canada releases March consumer price inflation data.
Core Inflation Rate MoM Prev. 0.7%
Core Inflation Rate YoY Prev. 2.7%
Inflation Rate MoM Est. 0.6% vs. Prev. 1.1%
Inflation Rate YoY Est. 2.6% vs. Prev. 2.6%
April 16, 8:30 a.m.: The U.S. Census Bureau releases March retail sales data.
Retail Sales MoM Est. 1.4% vs. Prev. 0.2%
Retail Sales YoY Prev. 3.1%
April 16, 9:45 a.m.: Bank of Canada releases its latest interest rate decision, followed by a press conference 45 minutes later.
Policy Interest Rate Est. 2.75% vs. Prev. 2.75%
April 16, 1:30 p.m.: Fed Chair Jerome H. Powell will deliver an “Economic Outlook” speech. Livestream link.
April 17, 8:30 a.m.: U.S. Census Bureau releases March new residential construction data.
Housing Starts Est. 1.42M vs. Prev. 1.501M
Housing Starts MoM Prev. 11.2%
April 17, 8:30 a.m.: The U.S. Department of Labor releases unemployment insurance data for the week ended April 12.
Initial Jobless Claims Est. 226K vs. Prev. 223K
April 17, 7:30 p.m.: Japan’s Ministry of Internal Affairs & Communications releases March consumer price index (CPI) data.
Core Inflation Rate YoY Est. 3.2% vs. Prev. 3%
Inflation Rate MoM Prev. -0.1%
Inflation Rate YoY Prev. 3.7%
Earnings (Estimates based on FactSet data)
April 22: Tesla (TSLA), post-market
April 30: Robinhood Markets (HOOD), post-market
Token Events:
Governance votes & calls
Venus DAO is discussing the forced liquidation of the remaining debt owed by a BNB bridge exploiter account that “supplied extraneously minted BNB to Venus and generated an over-collateralized debt position.”
Aave DAO is discussing taking further steps to deprecate Synthetix’s sUSD on Aave V3 Optimism over technical developments that have “compromised its ability to consistently maintain its peg.”
GMX DAO is discussing the establishment of a GMX reserve on Solana, which would involve bridging $500,000 in GMX to the blockchain and transferring the funds to the GMX-Solana Treasury.
Treasure DAO is discussing handing the core contributor team the authority to wind down and close the Treasure Chain infrastructure on ZKsync and manage the primary MAGIC-ETH protocol-owned liquidity pool given the “crucial financial situation” of the protocol.
April 15, 10 a.m.: Injective to hold an X Spaces session with Guardian.
April 16, 7 a.m.: Aergo to host an Ask Me Anything (AMA) session on the future of decentralized artificial intelligence and the project.
April 16, 3 p.m.: Zcash to host a Town Hall on LockBox Distribution & Governance.
Unlocks
April 15: Sei (SEI) to unlock 1.09% of its circulating supply worth $10.08 million.
April 16: Arbitrum (ARB) to unlock 2.01% of its circulating supply worth $27.17 million.
April 18: Official Trump (TRUMP) to unlock 20.25% of its circulating supply worth $325.97 million.
April 18: Fasttoken (FTN) to unlock 4.65% of its circulating supply worth $82.60 million.
April 18: UXLINK (UXLINK) to unlock 11.09% of its circulating supply worth $18.29 million.
April 18: Immutable (IMX) to unlock 1.37% of its circulating supply worth $10.07 million.
Token Launches
April 15: WalletConnect Token (WCT) to be listed on Binance, Bitget, AscendEX, BingX, BYDFi, LBank, Coinlist and others.
April 16: Badger (BADGER), Balacner (BAL), Beta Finance (BETA), Cortex (CTXC), Cream Finance (CREAM), Firo (FIRO), Kava Lend (KAVA), NULS (NULS), Prosper (PROS), Status (SNT), TROY (TROY), UniLend Finance (UFT), VIDT DAO (VIDT) and aelf (ELF) to be delisted from Binance.
April 22: Hyperlane to airdrop its HYPER tokens.
Conferences:
Day 2 of 3: Morocco WEB3FEST GITEX Edition (Marrakech)
April 15: Strategic Bitcoin Reserve Summit (online)
Day 1 of 2: BUIDL Asia 2025 (Seoul)
Day 1 of 2: World Financial Innovation Series 2025 (Hanoi, Vietnam)
Day 1 of 3: NexTech Week Tokyo
April 22-24: Money20/20 Asia (Bangkok)
April 23: Crypto Horizons 2025 (Dubai)
April 23-24: Blockchain Forum 2025 (Moscow)
Token Talk
Story Protocol’s IP tokens experienced a 20% drop and recovery within hours during an unusual trading session on Monday.
Trading volume surged on exchanges including Binance and OKX Spot, with $138 million recorded after the price rebound.
The sudden price movement was isolated from broader market trends, sparking speculation about insider activity or coordinated selling.
Also on Monday, MANTRA’s OM token plummeted over 90% in hours, dropping from around $6.30 to as low as 37 cents and wiping out over $5 billion in market capitalization.
The token has since rebounded slightly to trade around 63 cents.
Laser Digital, a Nomura-backed investor, was initially flagged for depositing $41 million in OM to OKX, but the company denied selling, clarifying it was collateral return from a financing trade. Shorooq Investors also denied selling.
Derivatives Positioning
BTC shorts have been liquidated on most exchanges in the past 24 hours, excluding BitMEX and Gate.io, according to Coinglass. The opposite is the case in ETH.
XRP’s perpetual futures open interest has dropped from 544.7 million XRP to 480 million XRP, diverging from the price recovery seen since Monday last week.
SUI, ONDO, ADA and APT have seen a notable increase in futures open interest in the past 24 hours. Of those, XMR is the only one with the positive OI-adjusted cumulative volume delta, representing net buying pressure.
On Deribit, short-dated BTC and ETH options continue to show a bias for protective puts, suggesting cautious sentiment.
Flows on OTC desk Paradigm have been mixed with both calls and puts bought in the April expiry.
Market Movements:
BTC is up 1.19% from 4 p.m. ET Monday at $85,877.18 (24hrs: +1.35%)
ETH is up 0.59% at $1,645.30 (24hrs: -1.97%)
CoinDesk 20 is up 0.99% at 2,519.69 (24hrs: +0.19%)
Ether CESR Composite Staking Rate is up 18 bps at 3.18%
BTC funding rate is at 0.0184% (6.7003% annualized) on Binance
DXY is unchanged at 99.70
Gold is up 1.26% at $3,245.30/oz
Silver is up 0.81% at $32.35/oz
Nikkei 225 closed +0.84% at 34,267.54
Hang Seng closed +0.23% at 21,466.27
FTSE is up 0.92% at 8,209.04
Euro Stoxx 50 is up 0.82% at 4,951.51
DJIA closed on Tuesday +0.78% at 40,524.79
S&P 500 closed +0.79% at 5,405.97
Nasdaq closed +0.64% at 16,831.48
S&P/TSX Composite Index closed +1.18% at 23,866.50
S&P 40 Latin America closed +1.8% at 2,340.02
U.S. 10-year Treasury rate is up 1 bp at 4.39%
E-mini S&P 500 futures are up 0.12% at 5,447.25
E-mini Nasdaq-100 futures are up 0.26% at 18,983.25
E-mini Dow Jones Industrial Average Index futures are unchanged at 40,750.00
Bitcoin Stats:
BTC Dominance: 63.80 (0.16%)
Ethereum to bitcoin ratio: 0.01913 (-0.31%)
Hashrate (seven-day moving average): 896 EH/s
Hashprice (spot): $44.1 PH/s
Total Fees: 6.33 BTC / $536,017
CME Futures Open Interest: 134,730
BTC priced in gold: 26.6 oz
BTC vs gold market cap: 7.56%
Technical Analysis
On Monday, the bitcoin cash-bitcoin (BCH/BTC) ratio failed to penetrate the trendline characterizing the 12-month bear market.
A potential move above the trendline could see breakout traders join the market, lifting BCH higher.
Crypto Equities
Strategy (MSTR): closed on Monday at $311.45 (+3.82%), up 0.62% at $313.38 in pre-market
Coinbase Global (COIN): closed at $176.58 (+0.62%), up 1.28% at $178.84
Galaxy Digital Holdings (GLXY): closed at C$15.81 (+3.47%)
MARA Holdings (MARA): closed at $12.95 (+3.52%), up 1.24% at $13.11
Riot Platforms (RIOT): closed at $7.01 (-0.71%), up 0.71% at $7.06
Core Scientific (CORZ): closed at $7.06 (-0.14%)
CleanSpark (CLSK): closed at $7.78 (+3.73%), up 1.29% at $7.88
CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $12.70 (+1.44%), up 1.44% at $12.90
Semler Scientific (SMLR): closed at $34.26 (+1.48%)
Exodus Movement (EXOD): closed at $39.43 (-10.55%), unchanged in pre-market
ETF Flows
Spot BTC ETFs:
Daily net flow: $1.5 million
Cumulative net flows: $35.46 billion
Total BTC holdings ~1.11 million
Spot ETH ETFs
Daily net flow: -$6 million
Cumulative net flows: $2.28 billion
Total ETH holdings ~3.36 million
Source: Farside Investors
Overnight Flows
Chart of the Day Personalized: Disney’s Bob Iger to exit Apple’s board
In the Ether
**Insert interesting content about current events, stories, etc. in the crypto world**
That’s all for now, stay in-the-know with The Parrot Press for the latest updates and insights on the dynamic world of cryptocurrencies and finance!
This is a daily technical analysis by our analyst and Chartered Market Technician here at The Parrot Press. In markets, finding the best entry point is crucial, as timing and levels...
Read moreThis is a daily technical analysis by our analyst and Chartered Market Technician here at The Parrot Press. In markets, finding the best entry point is crucial, as timing and levels can greatly impact the success of traders by influencing risk-reward ratios in their favor.
Bitcoin’s near-term outlook may seem positive with increased demand for bullish bets in the options market. However, the cryptocurrency is currently close to key resistance levels that have limited upside potential in recent months, making the risk-reward profile less appealing for those looking to take advantage of bullish prospects.
BTC has been testing the lower boundary of the “Ichimoku cloud” around $85K since Saturday. Developed by a Japanese journalist in the 1960s, the Ichimoku cloud is a technical analysis tool that provides a comprehensive view of market momentum, support, and resistance levels.
The indicator consists of five lines: Leading Span A, Leading Span B, Conversion Line or Tenkan-Sen (T), Base Line or Kijun-Sen (K), and a lagging closing price line. The space between Leading Span A and B forms the Ichimoku Cloud, with its upper and lower boundaries acting as potential support and resistance levels based on the price’s position relative to the cloud.
Back in early February, BTC dropped below $100K and traded below the Ichimoku Cloud. Since then, the lower boundary of the cloud has acted as a strong resistance level, limiting any recovery attempts.
With BTC now approaching this level again, bulls, especially those considering new bids, should proceed with caution. The immediate upside may be constrained by cloud resistance around $85K, while support is around $75K, approximately $10K lower than the current market rate. This situation presents an unfavorable risk-reward scenario for long positions.
The rejection at the Ichimoku Cloud on April 2 led to a significant sell-off, pushing BTC below $75K, similar to a pattern seen after the rejection on February 21. Therefore, the recent encounter with cloud resistance calls for close observation as it may lead to further selling pressure. A downturn from this level could bring attention back to the $75K level.
On the other hand, a potential break above $90K, signifying a breakout above the cloud, would indicate a continuation of the broader bull trend and a potential rally to new all-time highs.
World Liberty Financial, a crypto venture backed by the family of U.S. President Donald Trump, has recently purchased $775,000 worth of SEI tokens as part of its altcoin accumulation strategy. The...
Read moreWorld Liberty Financial, a crypto venture backed by the family of U.S. President Donald Trump, has recently purchased $775,000 worth of SEI tokens as part of its altcoin accumulation strategy. The acquisition was made using USDC transferred from the project’s main wallet to a trading wallet that has been used for previous altcoin purchases, as revealed by data from Arkham Intelligence.
This purchase of SEI tokens adds to the company’s expanding portfolio, which already includes popular cryptocurrencies like bitcoin (BTC) and ether (ETH), as well as TRX, movement (MOVE), ondo (ONDO), and other tokens.
World Liberty Financial has refuted recent reports claiming that they sold ether or any other assets, following allegations that a wallet linked to the project had sold around $8 million worth of the second-largest cryptocurrency. Despite this, the price of SEI tokens surged after the purchase was made public, rising by over 27% in the past week to now trade at $0.178 per token.
