The era of the crypto bull market appears to be coming to an end, signaling a winter of sustained losses and stagnation, as per insights from Coinbase’s institutional arm. David Duong,...
Read moreThe era of the crypto bull market appears to be coming to an end, signaling a winter of sustained losses and stagnation, as per insights from Coinbase’s institutional arm. David Duong, Coinbase Institutional’s global head of research, mentioned that the 200-day simple moving average (SMA) model indicates that Bitcoin’s recent sharp decline marks the beginning of a bear market cycle since late March. The COIN50 index, which includes the top 50 tokens by market capitalization, has also been consistently trading in bear market territory since the end of February.
Bitcoin slipped below its 200-day SMA on March 9, signaling a long-term shift to bearish momentum. Duong emphasized the challenges of defining a crypto bear market, where corrections of 20% or more are common. Contrarily, a 20% decline is typically used to characterize bear markets in traditional stock markets.
The report argued that the traditional 20% benchmark overlooks the impact of investor sentiment and portfolio adjustments triggered by smaller yet intense sell-offs. Bear markets are seen as fundamental changes in market structure, with deteriorating fundamentals and shrinking liquidity rather than just downward percentage movements.
In addition to the 200-day SMA, Duong highlighted bitcoin’s risk-adjusted performance measured in standard deviations (z-score) as an effective means of identifying crypto bear markets. The current z-score model indicates that the recent bull cycle ended in late February, categorizing subsequent activity as “neutral” and suggesting a need for a defensive risk assessment approach.
As the venture capital (VC) funding in the crypto space slows down, alternative cryptocurrencies may face a harsher winter ahead. While Bitcoin reached new highs this year, VC funding levels remain 50%-60% lower than in 2021-22, indicating a lack of enthusiasm for riskier investments.
Duong predicts that the crypto market may stabilize in mid-to-late 2Q25, paving the way for a better 3Q25.
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.
Janover (JNVR), a fintech commercial real estate platform, is making waves in the crypto world by building a substantial SOL stack worth around $21 million. The company’s share price has soared...
Read moreJanover (JNVR), a fintech commercial real estate platform, is making waves in the crypto world by building a substantial SOL stack worth around $21 million. The company’s share price has soared nearly 20 times in less than a month, following a strategy similar to Strategy’s bitcoin playbook, but with a focus on Solana (SOL).
In a recent move, Janover purchased an additional 80,567 SOL tokens valued at approximately $10.5 million, bringing its total holdings to 163,651. This makes Janover the first publicly-traded U.S. company with a treasury strategy centered around Solana’s SOL. The shift to crypto came after a team of former executives from crypto exchange Kraken, including Joseph Onorati and Parker White, acquired majority ownership of the firm. Onorati is now the Chairman and CEO, White serves as the Chief Investment Officer and Chief Operating Officer, and Marco Santori, the former Chief Legal Officer of Kraken, has joined Janover’s board.
To fund its Solana acquisition plans, Janover raised $42 million through convertible notes and warrants and plans to run one or more validators to participate in Solana’s proof-of-stake network. Since announcing its crypto pivot, Janover’s stock has experienced a meteoric rise, with prices surging over 1,700% in early April and further increasing by 12% after the latest SOL acquisition.
Onorati expressed his excitement about introducing a digital asset treasury strategy focused on Solana in the U.S. public markets, citing the growing adoption of DeFi. Despite its focus on crypto, Janover remains committed to its real estate roots, with its AI-powered commercial real estate platform continuing operations under the leadership of founder Blake Janover and CFO Bruce Rosenbloom.
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.
Tags:ADAAIAmericaAppleBinancebitcoinbtcCanadaCoinbaseCommunicationCryptodubaiETHEUFinancegoldJapanminerMoving AverageRobinhoodS&P 500solanaStrategyTeslaTradingTrumpUSXRP
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!
Story Protocol’s IP tokens experienced a significant drop of 20% and quickly recovered within hours during a unique trading session on Monday. The price of IP fell from nearly $4 to...
Read moreStory Protocol’s IP tokens experienced a significant drop of 20% and quickly recovered within hours during a unique trading session on Monday. The price of IP fell from nearly $4 to $3.27 in just four hours, only to bounce back to over $4 shortly after hitting the daily low. Most of the trading volume during this event took place on major exchanges Binance and OKX Spot, with trading volumes exceeding $40 million before the drop and reaching $138 million after the recovery.
Despite the IP token’s volatility, the broader crypto market remained relatively stable at the time, with bitcoin trading around $84,000 and no distinct trend affecting altcoins. This made the sudden slump and subsequent recovery of the IP token a notable occurrence in an otherwise quiet market.
There were rumors circulating about large volumes of IP tokens, as well as other tokens like MOVE and LAYER, being sold at discounted prices through OTC deals. This sparked speculation about potential insider activity or coordinated selling among crypto communities on X.
In spite of the price fluctuations, IP-tracked futures only showed $1.4 million in cumulative losses, indicating that the majority of trading activity involved actual spot sales and purchases.
The swift movement of the IP token initially raised concerns of a Mantra (OM)-like selloff, which saw a 90% drop in value within hours the day before for unclear reasons that are still being investigated.
Story Protocol is a Layer 1 blockchain platform that focuses on tokenizing intellectual property (IP), providing creators with the ability to register, license, and monetize their work on the blockchain.
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.
In 2022, the U.S. government imposed sanctions on Tornado Cash, an Ethereum-based crypto mixing service, sparking a debate that continues today. Tornado Cash allowed users to transfer crypto anonymously, but the...
Read moreIn 2022, the U.S. government imposed sanctions on Tornado Cash, an Ethereum-based crypto mixing service, sparking a debate that continues today. Tornado Cash allowed users to transfer crypto anonymously, but the government believed it facilitated money laundering. This led some Ethereum validators and block builders to avoid Tornado-linked transactions, causing the service to become slower and more costly.
Critics argued that complying with the sanctions amounted to censorship, undermining a core cypherpunk principle. President Donald Trump eventually lifted the sanctions in March, but the incident raised questions about the need for third-party apps for private transactions on the Ethereum network.
Crypto security researcher Pascal Caversaccio highlighted the lack of financial privacy on the Ethereum network due to publicly accessible transaction graphs. He proposed integrating privacy-preserving technologies at the protocol level to ensure users are private by default.
Ethereum developers have reignited discussions on making the network more private at its core. Some proposed interventions include encrypting the public mempool and implementing zero-knowledge cryptography for confidential transactions. Ethereum co-founder Vitalik Buterin also outlined a privacy-oriented roadmap, suggesting focusing on on-chain payments and anonymizing activity within applications.
If all suggestions are implemented, private transactions could become the default on Ethereum. The privacy debate comes ahead of Ethereum’s upcoming major upgrade, Pectra, which does not prioritize privacy. Developers are already planning the following upgrade, Fusaka, but the changes for that hard fork are still uncertain.
Bitcoin and other cryptocurrencies are experiencing an uptick on Friday following a sharp decline alongside traditional markets the day before. Solana’s SOL and dogecoin (DOGE) have both risen over 4% in...
Read moreBitcoin and other cryptocurrencies are experiencing an uptick on Friday following a sharp decline alongside traditional markets the day before. Solana’s SOL and dogecoin (DOGE) have both risen over 4% in the past 24 hours, leading the gains among major cryptocurrencies. XRP (XRP), BNB Chain’s BNB, and Tron’s TRX are up between 2%-3%, while Ether (ETH) has seen a 2.4% decrease, continuing its recent downward trend with a loss of 12% over the past week.
The announcement on Wednesday of a 90-day halt on new tariffs (excluding those on China) briefly prompted a relief rally across various risk assets. Despite this brief positivity, the markets saw a reversal on Thursday. Some traders believe that the price action of bitcoin indicates a potential turning point, setting the stage for a push towards $100,000 by the end of the year.
“The unexpected policy change briefly calmed market nerves and reduced short-term crypto volatility. However, we advise caution,” noted market experts, pointing out that while some are selling at higher levels, the presence of December $100,000 calls indicates long-term optimism.
Ming Wu, the CEO of RabbitX, described the market shift as a complete turnaround. He attributed this shift to President Trump’s recent announcement of a tariff pause. Wu emphasized that this policy change injected optimism into the markets, resulting in a strong rally in both equities and cryptocurrencies.
Wu highlighted eased trade tensions, mentioning that the tariff pause provides “breathing room” while still maintaining pressure on China. From a technical standpoint, he sees the setup for a surge due to significant declines before the announcement. The tariff news triggered a short squeeze, with buyers entering the market at key support levels, fueling the rally.
Ryan Lee, the chief analyst at Bitget Research, pointed out bitcoin’s 6% surge from Thursday. Lee highlighted strong demand from institutions and long-term holders, who view bitcoin as a hedge amidst uncertainty.
Looking ahead, Lee believes that the sustainability of this momentum depends on macro clarity, technical strength, and market sentiment. The $80,000 level is now crucial to monitor. Lee predicts that bitcoin could range between $80,000 and $85,000 midweek, with a bullish scenario pushing towards $85,000 if risk appetite remains high, or a pullback to $78,000-$79,000 if uncertainties resurface. Traders are advised to closely monitor macro developments and fund flows.
