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On another note, flow data from Ether ETFs indicates that investors have withdrawn nearly $600 million from these products in the past two months.
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.
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.
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.
The beginning of 2025 brought a reality check for digital assets, shifting from optimism to macroeconomic challenges. Bitcoin hit a new all-time high of $109,356 before ending the quarter down by...
Read moreThe beginning of 2025 brought a reality check for digital assets, shifting from optimism to macroeconomic challenges. Bitcoin hit a new all-time high of $109,356 before ending the quarter down by 11.6%, while altcoins like the CoinDesk Memecoin Index (CDMEME) and the CoinDesk 80 (CD80) faced even larger declines.
The gap between bitcoin and the rest of the market continues to widen, driven by institutional behavior favoring liquid and regulated large-cap assets. Bitcoin dominance rose to 62.2% in Q1, its highest level since February 2021, despite a drop in its total market capitalization. Capital flowed out of speculative assets and into bitcoin amidst macro volatility and geopolitical uncertainty.
The CoinDesk 20 Index (CD20) fell 23.2% in Q1 but outperformed major digital assets. XRP was the sole CD20 constituent with a positive return, driven by the dismissal of the SEC’s case against Ripple and growth in its RLUSD stablecoin.
Ether, on the other hand, underperformed due to user activity migration to Layer 2s. Public companies added nearly 100,000 BTC to their holdings in Q1, demonstrating bitcoin’s macro asset role. The launch of the U.S. Strategic Bitcoin Reserve and introduction of a Digital Asset Stockpile by the Treasury highlighted bitcoin’s legitimacy.
Looking ahead to Q2, altcoin ETF optimism remains high with Solana and XRP leading the way. The market is consolidating into assets with liquidity, narratives, and institutional relevance, indicating a shift towards structural factors over sentiment alone.
For more insights, including full index performance and constituent details, you can access the complete Digital Assets Quarterly Report.
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.
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!
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.
Activity in PowerTrade’s options market for alternative cryptocurrencies (altcoins) increased this week due to heightened market volatility, prompting traders to seek derivatives for hedging and speculative opportunities. Trading volume in XRP...
Read moreActivity in PowerTrade’s options market for alternative cryptocurrencies (altcoins) increased this week due to heightened market volatility, prompting traders to seek derivatives for hedging and speculative opportunities.
Trading volume in XRP options has surged to over $5 million this week, with most activity focused on short-dated expirations, as per data shared by PowerTrade. The flows have been evenly divided between put options with strikes ranging from $1.80 to $1.98 and calls with strikes between $1.80 to $1.93.
Bernd Sischka, head of institutional sales at PowerTrade, noted that this activity indicates traders are positioning for significant short-term price movements, whether from regulatory developments or a breakout pattern, with an equal balance between bullish and bearish structures.
The volatility in the market is reflected by XRP dropping to a five-month low of $1.61 earlier this week, only to bounce back to $2. A call option provides the buyer with the right to purchase the underlying asset at a predetermined price on or before a specific date, while a put option allows the buyer to profit from or hedge against price declines.
Hedging activity was observed in SOL options, with traders seeking puts with strikes between $104 to $121. Solana’s SOL token briefly fell to $95 on Monday amid U.S.-China trade tensions, before rebounding to $115.
Despite market uncertainties, traders showed interest in dogecoin, which dropped to 13 cents this week and currently trades at 15.7 cents. The most popular plays were calls at 14.5, 15.5, 17.5, and 18 cents, expiring on April 13, indicating a speculative frenzy.
According to Sischka, the flow indicates momentum trading with short-dated, low-premium bets aimed at capturing quick surges, likely tied to social media or event-driven catalysts. Overall, short-dated expiries and directional bets are driving altcoin options market activity.
However, the altcoin options market remains considerably smaller than the bitcoin and ether options market, dominated by Deribit, where contracts worth millions of dollars are traded daily.
The past week saw the terms “decoupling” and “safe haven” gain traction as bitcoin (BTC) remained resilient in the face of plummeting stock markets following President Trump’s imposition of tariffs on...
Read moreThe past week saw the terms “decoupling” and “safe haven” gain traction as bitcoin (BTC) remained resilient in the face of plummeting stock markets following President Trump’s imposition of tariffs on U.S. trading partners. However, optimism among bitcoin bulls may have been premature.
Over the weekend, as traditional stock markets were closed, anxious investors turned to the 24/7 cryptocurrency markets to make bearish investments. By late Sunday afternoon, bitcoin was trading just above $79,000, marking a 5% decrease from the previous 24 hours. As stock index futures began trading later on Sunday, the Nasdaq 100 opened down 5% and the S&P 500 down 4.5%, prompting bitcoin to drop to as low as $78,400.
In contrast to bitcoin, other major cryptocurrencies fared even worse. For example, ether (ETH) saw an 11% decrease to $1,590, and solana (SOL) dropped by 10% to $107.
The phrase “black monday” resurfaced, referring back to Monday, October 19, 1987, when the Dow Jones Industrial Average experienced a significant loss in value in a single session. The triggering event at that time was the threat of a currency war by then Secretary of Treasury James Baker.
Hedge fund billionaire Bill Ackman expressed concerns on Twitter about the potential consequences of escalating trade tensions. He warned that if the U.S. were to engage in an economic “nuclear war” with other countries, it could lead to catastrophic repercussions for the global economy. Ackman urged President Trump to reconsider his approach to tariffs in order to avoid a severe economic downturn.
Meanwhile, the 10-year Treasury yield dropped by 14 basis points from its Friday close to 3.85%. Stock and bond markets opened with early trading on Monday, showing signs of volatility.
This article was updated to include information on early stock and bond market trading activities.
