Zcash (ZEC) prices have broken through a key resistance level, suggesting potential for further gains. The cryptocurrency has been trading sideways since February, with support around $25 and resistance near $40....
Read moreZcash (ZEC) prices have broken through a key resistance level, suggesting potential for further gains. The cryptocurrency has been trading sideways since February, with support around $25 and resistance near $40. However, buyers were able to push through the resistance zone of $40-$43 on Sunday, reaching a high of $45.80 on HTX exchange. This breakout is similar to a spring uncoiling, indicating potential for a rapid move higher.
According to technical analysis theory, adding the range width to the breakout point could lead to a rally towards $60. Breakouts often attract traders looking to capitalize on continued upward momentum. ZEC’s counterpart, monero (XMR), also recently experienced a breakout with a golden cross pattern, reaching highs above $300. It’s important to note that chart patterns do not always play out as expected.
The accompanying daily chart shows ZEC’s recent price movements.
This is a daily technical analysis by our analyst and Chartered Market Technician, Omkar Godbole. Crypto bears should keep a close eye on bitcoin’s recent chart patterns, which resemble those that...
Read moreThis is a daily technical analysis by our analyst and Chartered Market Technician, Omkar Godbole.
Crypto bears should keep a close eye on bitcoin’s recent chart patterns, which resemble those that preceded the late 2024 rally from $70,000 to $109,000.
The first pattern to watch is the weekly chart’s Moving Average Convergence Divergence (MACD) histogram, which is used to identify trend changes and reversals. MACD crossovers above or below the zero line typically signal bullish or bearish shifts in momentum.
Traders should interpret these signals in context with price action. For example, a bearish crossover should be confirmed by weakening prices; otherwise, it could be a bear trap indicating underlying strength. Currently, BTC seems to be in this scenario.
The cryptocurrency initially dropped after the MACD turned negative in mid-February, but it quickly found support at the 50-week simple moving average (SMA) in March and has since bounced back above $90,000. Throughout this period, the MACD has remained below zero.
This pattern resembles last August and September when prices held the SMA support despite persistent bearish MACD signals. The indicator turned bullish around mid-October, confirming the trend and leading to a rally from $70,000 to $100,000 by December.
The second pattern to note involves the 50- and 200-day SMAs. About four weeks ago, these averages formed a bearish crossover known as the death cross, indicating a potential long-term downtrend. However, this turned out to be a bear trap as bitcoin found support around $75,000 and changed direction.
Recently, the 50-day SMA has started to rise and could soon cross above the 200-day SMA, potentially setting up a bullish golden cross in the coming weeks.
This pattern closely resembles last year’s trend: the death cross in August marked a bottom, quickly followed by a golden cross that triggered a breakout above $70,000 and eventually led to a rally above $109,000 to new highs.
In summary, bullish volatility may be on the horizon, possibly propelling bitcoin well beyond the January high of $109,000.
While chart patterns are commonly used to evaluate market strength and predict future movements, it’s essential to remember that history does not always repeat itself, and macroeconomic factors can quickly change market directions, making chart analysis less than foolproof.
The gold market is experiencing a shift in activity, as central bank buying slows and demand from exchange-traded funds and gold-backed cryptocurrencies increases. In fact, the net minting volume for tokens...
Read moreThe gold market is experiencing a shift in activity, as central bank buying slows and demand from exchange-traded funds and gold-backed cryptocurrencies increases. In fact, the net minting volume for tokens backed by gold recently reached a three-year high, with over $80 million worth of tokens minted in the past month.
According to data from rwa.xyz, this surge in token minting has boosted the market cap of the sector by 6% to $1.43 billion. Additionally, monthly transfer volume has seen a 77% increase to $1.27 billion, indicating a renewed interest in digital representations of gold.
This increase in token activity aligns with a broader trend in the gold market. The World Gold Council’s latest report reveals that total gold demand in the first quarter of the year reached 1,206 tonnes, a 1% year-over-year increase and the strongest first quarter since 2016. Despite a decrease in central bank purchases, down to 244 tonnes from 365 tonnes in the previous quarter, gold ETFs have seen investment demand more than double to 552 tonnes.
This shift towards gold ETFs has contributed to the rise in the average quarterly price of gold, which reached a record $2,860 per ounce, up 38% from the previous year. However, the price experienced a slight dip of 2.35% last week, following a year-to-date increase of 23.5%, while risk assets like cryptocurrencies have risen. Currently, spot gold is trading at $3,240.
Although traditional gold demand, particularly in jewelry, has decreased to pandemic-era lows, demand for bars and coins remains strong, especially in China.
Overall, the increase in tokenized gold reflects a growing interest in the precious metal as a safe haven asset, particularly in light of tariff fears and market uncertainty.
The recent surge in the price of gold, potentially indicating a blow-off top, seems to have had a positive impact on bitcoin (BTC). This trend is expected to continue, with bitcoin...
Read moreThe recent surge in the price of gold, potentially indicating a blow-off top, seems to have had a positive impact on bitcoin (BTC). This trend is expected to continue, with bitcoin already being one of the best-performing global assets lately.
Following President Trump’s Liberation Day tariffs in early April, gold’s rally reached new heights, peaking above $3,500 per ounce on April 21. During this time, bitcoin was trading at $87,000, which was relatively flat from Liberation Day but down by about 20% from its all-time high in January.
However, gold has since dropped by nearly 10% to slightly above $3,200 per ounce, while bitcoin has surged by about 10% to reach a two-month high of $97,000.
According to Geoff Kendrick from Standard Chartered, bitcoin might be a better hedge than gold against strategic asset reallocation out of the U.S. He pointed out that the inflow into bitcoin funds has surpassed that into gold funds, indicating a shift in investor sentiment.
Kendrick also highlighted that the margin between bitcoin ETF inflows and gold was last seen during the week of the U.S. presidential election. Following that event, the price of bitcoin rose by more than 40% to above $100,000 within two months.
Bitcoin’s price surge and its comparison to gold as a safe-haven asset is gaining traction as global markets face volatility. In Asian trading hours, BTC climbed above $87,000 alongside other cryptocurrencies...
Read moreBitcoin’s price surge and its comparison to gold as a safe-haven asset is gaining traction as global markets face volatility. In Asian trading hours, BTC climbed above $87,000 alongside other cryptocurrencies like Cardano’s ADA, BNB Chain’s BNB, XRP, and ethereum (ETH). This rally reversed the recent declines and boosted tokens like Solana’s SOL by 5.2% in the past week.
The ongoing trade wars and fears of inflation have prompted investors to see bitcoin as a hedge similar to gold. Nick Ruck, director at LVRG Research, highlighted the changing correlation of bitcoin with U.S. equities and its strengthening connection to the price of gold. The recent surge in bitcoin to over $87,000 reflects renewed investor confidence amidst market stabilization following tariff-related panic.
Gold reached new highs above $3,380 per ounce, garnering year-to-date gains of 25%. Despite dropping over 20% from its January peak, bitcoin’s rally above $87,000 marks its highest level since early April. The weakening dollar, reflected in the three-year low of the dollar index (DXY), is driving investors towards safe-haven assets like gold, European bonds, and now, bitcoin.
Jeff Mei, COO at BTSE, pointed out the impact of President Trump’s actions on the U.S. dollar, leading investors to seek alternative assets such as bitcoin. With growing downward pressure on the dollar, bitcoin has the potential to become a safe-haven asset in the current economic climate.
In addition to market analysis, technical indicators reveal a positive outlook for cryptocurrencies like Cardano’s ADA, XRP, Solana’s SOL, and BNB. ADA is maintaining upward momentum with strong support levels, while XRP shows signs of breaking out from sideways trading. Solana’s rally above $135 is backed by strong volume confirmation, while BNB’s surge above $600 is supported by large holders and recent token burn events.
Overall, the narrative of bitcoin as “digital gold” is gaining traction as investors seek alternatives in times of market volatility and economic uncertainty.
Richard Kim, the founder of the crypto casino Zero Edge, has been arrested on allegations of using investors’ funds for gambling. The FBI complaint filed in the Southern District of New...
Read moreRichard Kim, the founder of the crypto casino Zero Edge, has been arrested on allegations of using investors’ funds for gambling. The FBI complaint filed in the Southern District of New York accused Kim of deceiving investors into investing in Zero Edge, then misappropriating millions of dollars of their funds. It was reported that Kim lost almost all of the $7 million raised from investors, leading to charges of securities fraud and wire fraud.
Reports from last year by CoinDesk revealed that Kim’s gambling struggles caused substantial financial losses at Zero Edge. Kim admitted to CoinDesk that he had gambled away over $3.67 million of investors’ funds through risky leveraged crypto trades. He confessed that it all started with an $80,000 phishing scam, which triggered a chain of high-risk trading activities to recover the lost money.
Despite losing a significant portion of the raised funds, Kim eventually reported himself to the U.S. Securities and Exchange Commission. However, the FBI complaint stated that Kim’s accounts of where the funds went were misleading, failing to disclose that some were transferred to Shuffle.com, a gambling website.
Kim’s fall from grace is evident, considering his previous roles at Galaxy, JPMorgan, and Goldman Sachs. Investors, including Galaxy, suffered losses due to Kim’s actions at Zero Edge. Galaxy’s head of communications confirmed their minimal investment in Zero Edge and their immediate reporting of Kim’s activities to the authorities.
Zero Edge was intended to be a revolutionary crypto casino that aimed to provide transparency and fairness to gamblers. Although the platform never launched, Kim’s past struggles with gambling addiction fueled his motivation to create a gambling platform that eliminated the house’s unfair advantage.
As the investigation into Kim continues, his arrest serves as a cautionary tale about the risks of misusing investors’ funds in the crypto industry.
Tags:AIAmericabitcoinbtcCoinbaseCryptoDonald TrumpdubaiETHEUgoldMoving AverageS&P 500solanaTariffsTradingTrumpUSXRP
By Parrot Press Staff President Donald Trump’s recent announcement of “reciprocal tariffs” this month has caused economic trade policy uncertainty to reach an all-time high. This has led investors to shy...
Read moreBy Parrot Press Staff
President Donald Trump’s recent announcement of “reciprocal tariffs” this month has caused economic trade policy uncertainty to reach an all-time high. This has led investors to shy away from risk assets, such as bitcoin (BTC) and other cryptocurrencies.
Federal Reserve Chairman Jerome Powell added fuel to the fire by stating late Wednesday that the central bank anticipates a rise in unemployment as the economy is likely to slow down and inflation is expected to increase. Powell mentioned that some of the tariffs imposed are likely to be paid by the public, further weighing on risk assets. This resulted in the Nasdaq dropping 1.17% and the S&P 500 decreasing by 2.24% before the closing bell. Despite this, bitcoin saw an increase of more than 1% in the past 24 hours. The CoinDesk 20 (CD20) index, which provides a broader market perspective, also saw a rise of 1.8%. However, the crypto market is more considered a gauge of risk rather than a safe haven, as reported by Coindesk.
According to Michael Brown, an analyst at Pepperstone, there is likely to be a growing demand for “assets which provide shelter from political incoherence and trade uncertainty,” as reported by The Telegraph. While bitcoin has outperformed the stock market, showing a 1% increase in the past month compared to the Nasdaq’s 8% drop, institutional investors are turning to gold as a safe haven investment.
Gold has seen an 11% increase over the last month and a 27% increase since the beginning of the year, reaching around $3,340 per troy ounce. A survey conducted by Bank of America’s Global Fund Manager revealed that 49% of fund managers view “long gold” as the most crowded trade on Wall Street, with 42% of them predicting it to be the best-performing asset of the year.
UBS analysts suggested that adding gold allocations has become more compelling due to the escalating tariff uncertainty, weaker growth, higher inflation, geopolitical risks, and diversification away from US assets and the US dollar, as reported by Investopedia.
Gold fund flows have reached $80 billion so far this year, while data from SoSoValue indicates that spot bitcoin ETFs have seen $5.25 billion net inflows in January, with net outflows occurring since the rise in uncertainty. In the month of April alone, over $900 million has exited these funds, following net outflows of $3.56 billion in February and $767 million in March. It is advised to stay alert in such an uncertain market environment.
In the latest Token Events updates, EigenLayer is implementing slashing on Ethereum mainnet, Pepecoin is undergoing its second halving, BNB Chain will be undergoing the opBNB mainnet hardfork, and Coinbase Derivatives will be listing XRP futures pending approval by the U.S. Commodity Futures Trading Commission.
Various conferences and events, such as CoinDesk’s Consensus in Toronto on May 14-16, NexTech Week Tokyo, Money20/20 Asia in Bangkok, Crypto Horizons 2025 in Dubai, and many more are scheduled to take place in the upcoming days.
In other news, Raydium’s LaunchLab platform has gone live, competing with Pump.fun and introducing a perceived competing platform to the Solana ecosystem. This has led to over 1,750 tokens being created shortly after LaunchLab’s debut, driving the price of Raydium’s RAY token up by as much as 10%.
On the technical analysis front, Bitcoin has rebounded off the golden pocket zone, showing strong buyer interest. It has broken out of the daily downtrend that has been in place since February, indicating a potential shift in structure. BTC is currently sitting below the daily 50 and 200 exponential moving averages, which act as important decision points for the price direction.
Overall, the market is seeing fluctuations due to economic uncertainty, geopolitical risks, and trade concerns, highlighting the importance of diversification and following market trends closely.
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!
Tokenized gold, such as Tether’s XAUT and Paxos’ PAXG, remains a popular choice among crypto investors in Asia as they look for a safe haven amidst easing trade tensions. According to...
Read moreTokenized gold, such as Tether’s XAUT and Paxos’ PAXG, remains a popular choice among crypto investors in Asia as they look for a safe haven amidst easing trade tensions.
According to on-chain data, Tether’s XAUT has been one of the top performers in the market, with a 3.4% increase in the last 24 hours. In fact, Tether’s tokenized gold, which holds the largest market cap in this sector, has seen a significant surge in value.
The sector as a whole has experienced a 4.3% increase in the last 24 hours, as opposed to the CoinDesk 20 index, which has witnessed a 2% decline. The price of gold initially dropped during the early trading hours in Asia after reaching an all-time high in the U.S. It is currently trading at $3218 in Hong Kong.
Meanwhile, the equity markets in Asia showed mixed performance, with Hang Seng down by 0.2%, SSE up by 0.12%, TAIEX up by 1.6%, and Nikkei 225 down by 3.5%.
During times of economic or geopolitical uncertainty, gold typically sees a rally as investors search for safe-haven assets. The unpredictability in White House policies is also a cause for concern among investors. Additionally, the inverse relationship between gold and interest rates, where lower rates make gold more attractive due to reduced opportunity cost, is further driving interest in the precious metal.
Investors are also keeping an eye on the growing U.S. budget deficit. China state media has reported potential stimulus measures for the country, including interest rate cuts and government spending amounting to $136 billion.
In other market news, Curve DAO’s CRV saw an 18% increase following reports that the U.S. plans to relax rules and enforcement related to Decentralized Finance (DeFi).
Don’t be deceived by Wednesday’s market rebound, with the S&P 500 climbing by the most since 2008 and noticeable gains in bitcoin (BTC) and the broader crypto market, as represented by...
Read moreDon’t be deceived by Wednesday’s market rebound, with the S&P 500 climbing by the most since 2008 and noticeable gains in bitcoin (BTC) and the broader crypto market, as represented by the CoinDesk 20 (CD20) index.
The surge, triggered by President Donald Trump’s announcement of a 90-day pause on tariffs, has led to optimism on social media about a potential prolonged bull run in both stocks and crypto. However, analysts at Goldman Sachs and others caution against being too optimistic, pointing out that multi-week, double-digit equity price rallies are common even in larger bear markets.
Goldman’s strategy team, led by Peter Oppenheimer, highlighted in a recent note titled “Bear Market Anatomy – the path and shape of the bear market” that bear market rallies are quite common due to light positioning and the amplified effects of variable changes on markets. They noted that there have been 19 global bear market rallies since the 1980s, lasting on average 44 days with returns of 10% to 15%.
Callum Thomas, founder and head of research at Topdown Charts, pointed out that one of the worst bear markets in history saw multiple major double-digit rallies before it was all said and done. The question remains – is the 90-day bounce a beginning of a bull market recovery?
The recent market bounce may not necessarily indicate the start of a new bull run or just a bear market rally, as certain characteristics of a sustainable bottom mentioned by Goldman, such as attractive valuations, extreme negative positioning, policy intervention, and a slowdown in macroeconomic deterioration, are not currently present.
The Federal Reserve is unlikely to provide immediate support, and Trump’s temporary halt on tariffs may not last beyond 90 days, potentially leading to resumed trade tensions. Additionally, tariffs on China are increasing, and stock prices are still not considered cheap.
Please note that the images attached to the article are also subject to speculation about market trends that should be taken into consideration.
