Bitcoin’s recent price trajectory has continued to show considerable instability. After briefly climbing past the $87,000 mark earlier this week, the cryptocurrency experienced a significant pullback, declining to $81,332 earlier today.
As of the latest data, Bitcoin is trading at around $82,600, reflecting a weekly decrease of about 7.6%. This downward momentum indicates ongoing market uncertainty, influencing investor strategies and market sentiment.
With frequent retracements and short-lived surges, the current pattern highlights persistent volatility in the cryptocurrency space. This instability has prompted some analysts to explore more profound insights into investor behavior to predict potential market directions.
Analyzing Binance User Activity for BTC Market Signals
CryptoQuant analyst Maartunn recently provided a perspective on Bitcoin market dynamics through an analysis of user activity on Binance, the world’s largest cryptocurrency exchange by trading volume.
Maartunn’s investigation into Binance user retention patterns offered some interesting insights into trading behavior that could influence Bitcoin’s market performance.
According to the analyst’s findings, over half of returning Binance users make their second deposit within 16 days following their initial transaction. Nearly 10% of users perform their second deposit within just one day, indicating active trading behavior rather than passive investment strategies.
Furthermore, approximately one-third of returning users reload their accounts by day seven, reinforcing the notion that Binance predominantly attracts traders engaging in frequent transactions.
Over 50% of Returning Binance Users Make a Second Deposit Within 16 Days
“Some interesting takeaways:
Nearly 10% return on Day 1, showing immediate trading interest. By Day 7, one-third of users have already reloaded. By Day 16, over 50% of returning users have made a… pic.twitter.com/OG6d6BKUdt
This high frequency of early deposits by returning users highlights a pattern of short-term trading rather than long-term holding. Such active engagement on Binance can directly impact Bitcoin’s price volatility, as rapid buying and selling contribute significantly to market fluctuations.
Increased trading activity shortly after initial deposits often implies speculative market behavior, potentially leading to quick price movements in both directions.
Overall, the behavioral trends observed on Binance suggest that Bitcoin might continue to experience sharp volatility in the near term. The quick return rate of traders to deposit funds signals a market where trading volume spikes are frequent, influencing Bitcoin’s price stability.
As traders rapidly enter and exit positions, the market can witness sudden price shifts driven by speculative trades rather than sustained investment interest. Meanwhile, recent data has revealed Bitcoin bull score index has seen a notable drop to 10.
CryptoQuant Bull Score Index has been signaling bearish conditions (40 or below) since Bitcoin was at $96K.
100 represents the most bullish conditions and 0 the least bullish (or bearish).
The Index currently stands at 10. pic.twitter.com/J5vZWYg5Nb
Michael Saylor, Executive Chairman of Strategy, pointed out that Bitcoin won’t face tariffs under US President Donald Trump’s new import tax plan. Saylor shared this view on X, telling his 4.2 million followers about Bitcoin’s unique position compared to physical goods.
Digital Assets Dodge Trump’s New Trade Taxes
“There are no tariffs on Bitcoin,” Saylor wrote in his X post. His statement comes as market watchers track how the cryptocurrency market responds to the new tariff increases. According to reports, many investors worried about how Trump’s April 2 “Liberation Day” plans would affect crypto prices. But these concerns haven’t caused major price drops so far.
Asian Countries Face Highest Import Taxes
Based on information from Trump’s announcement, several Asian nations will face steep tariffs on their goods entering the United States. China will see a 34% tax rate, while Japan faces 24%. Taiwan’s imports will be charged at 32%, and Vietnam tops the list with a 46% tariff. These new import taxes will start on April 5, according to the announcement.
The new US Tarrifs
China — 34% European Union — 20% Vietnam — 46% Taiwan — 32% Japan — 24% South Korea — 25% Thailand — 36% Switzerland – 31% Indonesia — 32% Malaysia – 24% Cambodia – 49% UK – 10% South Africa — 30% Brazil – 10% Bangladesh -34%… pic.twitter.com/W3n22Z0GnI
The tariff plan extends beyond economic rivals. Even American allies must pay more to sell their products in the US market. The UK will face a 10% tax on imports, Israel 17%, European Union countries 20%, and India 26%. China has already threatened to respond with its own tariffs if Trump doesn’t reverse his decision. The back-and-forth raises questions about broader economic impacts.
Although Trump’s tariff announcements caused market jitters, Bitcoin prices have remained relatively stable. The cryptocurrency was trading at $83,105 when this article was written, with only a 1% drop over the last 24 hours. Some market analysts opine that physical goods carry the brunt of tariff effects, while digital assets may escape direct effects.
The tariff impasse serves to emphasize Bitcoin’s odd position in global commerce. Unlike oil, gold, or manufactured goods that need to physically traverse borders, Bitcoin transactions occur electronically. This aspect may make cryptocurrencies a winner in trade conflicts since they cannot be halted or taxed at border points.
Several investors are worrying that Bitcoin could still be indirectly affected by increased tariffs. If the costlier imports reduce the income of companies and consumers, they might invest less money into cryptocurrency, which might end up reducing funding to the cryptocurrency market. For now, it’s still above the $80,000 mark while the market watches the tariff development.
Trump labeled his tariff proposal as “reciprocal,” adding that it reflects what other nations are charging on American products. As countries react to these new trade policies, cryptocurrency markets appear less impacted than other commodity markets.
Featured image from Gemini Imagen, chart from TradingView
US Securities and Exchange Commission (SEC) Commissioner and vocal crypto critic Caroline Crenshaw has accused the US regulator of downplaying risks and misrepresenting the US stablecoin market in its newly published guidelines.
However, many in the crypto industry see the SEC’s decision as a step in the right direction.
In an April 4 statement, Crenshaw, who is widely known for opposing the spot Bitcoin ETFs, said that the SEC’s statement on stablecoins contained “legal and factual errors that paint a distorted picture of the USD-stablecoin market that drastically understates its risks.”
Crenshaw disagrees, crypto industry applauds
Under the new SEC guidelines, stablecoins that meet certain criteria are now considered “non-securities” and are exempt from transaction reporting requirements.
Crenshaw disputed the accuracy of the analysis made by the SEC in arriving at that decision. She pushed back on the SEC for reiterating issuer actions “that supposedly stabilize price, ensure redeemability, and otherwise reduce risk.”
The SEC said that “albeit briefly, that some USD-stablecoins are available to retail purchasers only through an intermediary and not directly from the issuer.”
Crenshaw argued this was misleading. She said:
“It is the general rule, not the exception, that these coins are available to the retail public only through intermediaries who sell them on the secondary market, such as crypto trading platforms.”
“Over 90% of USD-stablecoins in circulation are distributed in this way,” Crenshaw added.
Meanwhile, many in the crypto industry expressed optimism over the decision.
Token Metrics founder Ian Ballina said it “feels like a clear step in focusing on what really matters in the crypto space.”
Crypto industry says positive step, just late
Vemanti CEO Tan Tran said he wished the SEC reached this point three years ago, while Midnight Network’s head of partnerships Ian Kane said it “feels like progress for crypto folks trying to play by the rules.”
Crenshaw said it is “also grossly inaccurate” for the SEC to reassure users that an issuer can handle unlimited redemptions just because its reserves match or exceed the value of the supply.
“The issuer’s overall financial health and solvency cannot be judged by the value of its reserve, which tells us nothing about its liabilities, risk from proprietary financial activities, and so forth,” Crenshaw said.
She explained that stablecoins always carry some risk, particularly during market downturns.
It comes only weeks after stablecoin issuer Tether was reportedly engaging with a Big Four accounting firm to audit its assets reserve and verify that its USDT stablecoin is backed at a 1:1 ratio.
On March 22, Cointelegraph reported that Tether CEO Paolo Ardoino said the audit process would be more straightforward under pro-crypto US President Donald Trump.
In a new technical analysis shared via X, crypto analyst Scott Melker aka The Wolf Of All Streets (@scottmelker) highlighted a critical support-resistance setup for Solana (SOL), emphasizing what he views as a textbook bounce off of a key technical level. “Picture perfect bounce off of $112 support. Double bottom would confirm with a break above $147, the swing high between the two bottoms. Don’t let anyone call it a double bottom until that happens. Regardless, nice bounce off of support with defined resistance to watch,” Melker stated.
The analyst’s chart shows SOL rebounding from near $112, reinforcing that zone as significant short-term support. For a bullish double-bottom pattern to validate, Melker points to a breakout above the downtrend line (currently around $130). If SOL breaks this resistance, $147 will be the critical level that would need to be breached. Until then, he advises caution about prematurely labeling the formation as a confirmed double bottom.
Solana Bottom In?
Notably, these remarks come on the heels of unlocks. According to a post by on-chain intelligence firm Arkham on Thursday, “$200M OF SOL UNLOCKING TOMORROW. Tomorrow (4th April) marks the largest single-day unlock of staked SOL until 2028. These 4 accounts staked a total of $37.7M of SOL in April 2021, and are up 5.5x at current prices.” The scale of these unlocks has generated considerable discussion on social media.
Another trader, NooNe0x, took a more optimistic stance, remarking, “SOL unlocks. Looking at the bright side, today’s unlock was the last large block. Today alone is as much as 40% of everything that is still left. It is 78% done, May, June and <December> only large-ish blocks left. Ripping the bandaid off.” In other words, with the bulk of significant unlocks possibly behind it, the supply overhang from locked tokens might be dissipating.
Historically, major token unlock events—whether for Solana or other projects—have often been anticipated well in advance by traders and investors. Markets “price in” that large holders sell their old tokens, sometimes driving prices lower ahead of the actual unlock. Once the unlock date arrives, if the anticipated sell-off does not materialize as severely as feared (or if much of the unlocked stake remains off the market), prices have tended to stabilize and often recover in the days or weeks that follow.
This pattern emerges because many holders, especially larger or early investors, may opt to restake or hold onto their tokens if they maintain a strong fundamental outlook. Meanwhile, short-term traders who had been betting on unlock-related volatility might close positions once the event passes. This “buy the rumor, sell the news” (or vice versa) dynamic can lead to price whipsaws around unlock periods, but no single outcome is guaranteed; much depends on how much actual selling pressure surfaces and broader market sentiment at the time.
Meanwhile, Awawat, a trader and angel investor at APG Capital, cautioned that Solana could be in a precarious position despite holding above $100. “SOL absolutely shrekt – broke 170 range low, bounced at 120 a few times – now holding above 100 but the ice is thin – last big unlock tomorrow – will bid sub-100 if given but this looks rough given the state of the trenches,” he wrote.
Bitcoin (BTC) price could head back toward the $100,000 level quicker than investors expected if the early signs of its decoupling from the US stock market and gold continue.
The “gold leads, Bitcoin follows” relationship is starting
Bitcoin has shrugged off the market jitters caused by US President Donald Trump’s April 2 global tariff announcement.
While BTC initially dropped over 3% to around $82,500, it eventually rebounded by roughly 4.5% to cross $84,700. In contrast, the S&P 500 plunged 10.65% this week, and gold—after hitting a record $3,167 on April 3—has slipped 4.8%.
BTC/USD vs. gold and S&P 500 daily performance chart. Source: TradingView
The fresh divergence is fueling the “gold-leads-Bitcoin narrative,” taking cues from price trends from late 2018 through mid-2019 to predict a strong price recovery toward $100,000.
Gold began a steady ascent, gaining nearly 15% by mid-2019, while Bitcoin remained largely flat. Bitcoin’s breakout followed shortly after, rallying over 170% in early 2019 and then surging another 344% by late 2020.
BTC/USD vs. XAU/USD three-day price chart. Source: TradingView
“A reclaim of $100k would imply a handoff from gold to BTC,” said market analyst MacroScope, adding:
“As in previous cycles, this would open the door to a new period of huge outperformance by BTC over gold and other assets.
The outlook aligned with Alpine Fox founder Mike Alfred, who shared an analysis from March 14, wherein he anticipated Bitcoin to grow 10 times or more than gold based on previous instances.
The BTC/XAU ratio is flashing a familiar pattern that traders last saw in 2021. The breakdown followed a second major support test at the 50-2W exponential moving average.
BTC/XAU ratio two-week chart. Source: TradingView
BTC/XAU is now repeating this fractal and once again testing the red 50-EMA as support.
In the previous cycle, Bitcoin consolidated around the same EMA level before breaking decisively lower, eventually finding support at the 200-2W EMA (the blue wave). If history repeats, BTC/XAU could be on track for a deeper correction, especially if macro conditions worsen.
Interestingly, these breakdown cycles have coincided with a drop in Bitcoin’s value in dollar terms, as shown below.
BTC/USD 2W price chart. Source: TradingView
Should the fractal repeat, Bitcoin’s initial downside target could be its 50-2W EMA around the $65,000 level, with additional selloffs suggesting declines below $20,000, aligning with the 200-2W EMA.
A bounce from BTC/XAU’s 50-2W EMA, on the other hand, may invalidate the bearish fractal.
US recession would squash Bitcoin’s bullish outlook
From a fundamental perspective, Bitcoin’s price outlook appears skewed to the downside.
Investors are concerned that President Donald Trump’s global tariff war could spiral into a full-blown trade war and trigger a US recession. Risk assets like Bitcoin tend to underperform during economic contractions.
Further dampening sentiment, on April 4, Federal Reserve Chair Jerome Powell pushed back against expectations for near-term interest rate cuts.
Powell warned that inflation progress remains uneven, signaling a prolonged high-rate environment that may add more pressure to Bitcoin’s upside momentum.
Nonetheless, most bond traders see three consecutive rate cuts until the Fed’s September meeting, according to CME data.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
A crypto analyst has shared insights into the recent strength in the XRP price, suggesting that South Korea may be the reason behind it. The analyst noted that the altcoin has been seeing high trading volume on South Korean exchanges, and this localized demand may be holding up its price while other altcoins struggle to gain traction.
How South Korea Is Bolstering The Price
According to XForceGlobal South Korea is currently one of the major drivers of the XRP price action. In a recent post on X (formerly Twitter), the analyst disclosed that the engagement and adoption from the crypto users in South Korea was a major contributor to XRP’s bullish performance.
Currently, South Korea is one of the most active crypto markets in the world, leading in global trading volume across multiple assets. However, among the numerous cryptocurrencies in the market, XRP stands out the most within the country. The analyst has revealed that even during low trading days, XRP frequently outpaces Bitcoin, underscoring its high demand and adoption in South Korea.
XForceGlobal has suggested that South Korea’s notable interest in XRP likely stems from its status as one of the most isolated countries in terms of crypto regulations. The analyst revealed that millions of citizens currently own the altcoin, making up about 20% of the cryptocurrency’s market cap valuation.
Moreover, due to a lack of large-scale cross-border payment solutions, most South Koreans opt to use cryptocurrencies like XRP to facilitate transactions. This, in turn, fuels adoption and strengthens the cryptocurrency’s utility, which positively influences its price action.
Compared to South Korea, the regulatory uncertainties and legal challenges in the United States (US) have slowed down XRP’s growth. XForceGlobal has stated that the active participation of retail institutions, strong community support, and early adoption in South Korea have helped prop up prices despite the difficulties it faced over the past years.
What The Future Holds For XRP In South Korea
While discussing the impact of South Korea’s support for XRP on its price action, XForceGlobal offered insights into the cryptocurrency’s future in the country. The analyst revealed that the market is at a pivotal moment where XRP has evolved from a speculative asset to a symbol of Korea’s dominance in the crypto market.
Currently, Upbit, the largest crypto exchange in South Korea, holds the most significant market share of XRP in terms of total supply. The exchange reportedly has about 6 billion XRP, accounting for roughly 5% of the entire supply.
XForceGlobal has revealed that the continued demand from retail investors combined with Upbit’s massive XRP reserve will make South Korea a key driver to the cryptocurrency’s global future price action.
Moving forward, the analyst has discussed XRP’s price movements on the Korean won chart, suggesting that its current action may be foreshadowing upcoming events. He pointed out that the altcoin has already formed a lower low on the chart, possibly hinting at a more controlled pullback rather than an impulsive decline — an outlook he described as “arguably bearish”.
The crypto analyst also noted that XRP may be forming a potential bottom on the Korean won chart, indicating a possible impulse to the upside and a bullish continuation.
Bitcoin has seen yet another bounce in the past day, adding to the recent series of rebounds. Here’s what on-chain data says regarding if BTC is going anywhere with them.
Bitcoin Realized Profit/Loss Ratio Could Shed Light On Broader Dynamics
In its latest weekly report, the on-chain analytics firm Glassnode has discussed about the recent trend in the Realized Profit/Loss Ratio for Bitcoin, which is an indicator that can be useful to study how investors are reacting to price volatility.
The metric measures, as its name already suggests, the ratio between the amount of profit and that of loss being realized by the holders or addresses as a whole.
The indicator works by looking at the transaction history of each coin being sold on the network to find what price it was transferred at prior to this sale. If this previous selling value is less than the latest spot price for any token, then the metric includes it under the profit volume.
The total profit realized in the sale of the coin is assumed to be equal to the difference between the two prices. The indicator calculates this value for all coins belonging to the profit volume and takes a total sum to determine the scale of profit realization happening across the blockchain.
Similarly, the Realized Profit/Loss Ratio also finds the total amount of loss being realized by referring to the sales of the coins of the opposite type (that is, the tokens with the last transaction value higher than the current spot price). Then, it takes the ratio between the two sums, to estimate the net situation for the sector.
During the last couple of months, Bitcoin has been going through a phase of bearish price action. Here’s what investor trading behavior has been like in this period, according to the Realized Profit/Loss Ratio:
As the analytics firm has highlighted in the chart, the indicator has seen dips under the 1 mark during each of BTC’s recent lows. A value in this region corresponds to loss-taking being more dominant than profit-taking.
“This imbalance typically marks a degree of seller exhaustion, where downside momentum fades as sell-side pressure is absorbed,” explains Glassnode. Due to this reason, capitulation tends to help BTC arrive at local bottoms.
From the graph, it’s visible that the cryptocurrency also benefited from this effect during the recent bursts of loss realization, as its price found a rebound following each of them.
These Bitcoin rebounds, however, have so far not been anything sustained. Will they eventually culminate into a return of proper bullish momentum, or are they only dead-cat bounces on the way down? To tackle the question, the analytics firm has referred to a long-term view of the Realized Profit/Loss Ratio.
As shown in the above chart, the 90-day simple moving average (SMA) of the Bitcoin Realized Profit/Loss Ratio has been sharply trending down recently, despite the jumps in profit realization that have come on the short-term view.
“These brief profit-driven surges have failed to reverse the broader downtrend, suggesting that the macro picture remains one of generally weaker liquidity and deteriorating investor profitability,” notes Glassnode.
So, as for whether Bitcoin has been witnessing a shift towards bullish momentum with the recent rebounds, the answer is seemingly no, at least from the perspective of the Realized Profit/Loss Ratio.
BTC Price
At the time of writing, Bitcoin is trading around $83,600, down almost 2% in the last seven days.
Cryptocurrency firms felt the heat from US President Donald Trump’s sweeping tariff rollout this week as market turbulence sent share prices tumbling and foiled initial public offering (IPO) plans.
From exchanges to Bitcoin (BTC) miners, crypto stocks suffered as much, if not more, than shares of other companies — despite the industry’s warm relationship with the US president.
On April 2, Trump announced he was placing tariffs of at least 10% on practically all imports into the United States and adding additional “reciprocal” tariffs on some 57 countries.
Since then, major US stock indices — including the S&P 500 and Nasdaq — tumbled by roughly 10% as traders braced for a looming trade war.
Bitcoin miners sold off on Trump’s tariff news. Source: Morningstar
Crypto exchange Coinbase — a prominent ally of Trump during the November US elections — experienced a similarly severe sell-off, with its stock price dropping by roughly 12% during the same period, according to data from Google Finance.
Bitcoin miners are also taking a hit. The CoinShares Crypto Miners ETF (WGMI) — which tracks a diverse basket of Bitcoin mining stocks — has lost roughly 13% of its value since immediately prior to Trump’s April 2 announcement, according to data from Morningstar.
Even Strategy, one of the best-performing stocks of 2024, wasn’t immune. Its share price has fallen by around 6% on the news, Google Finance data showed.
According to Reuters, investment bank JPMorgan has raised its estimated odds of a global economic recession in 2025 to 60% from 40% previously.
“Disruptive U.S. policies have been recognized as the biggest risk to the global outlook all year,” JP Morgan reportedly said.
“The effect … is likely to be magnified through (tariff) retaliation, a slide in U.S. business sentiment and supply-chain disruptions.”
Strategy’s shares also dropped this week. Source: Google Finance
IPO delays
The impact of US tariffs hasn’t been limited to stock price volatility. Stablecoin issuer Circle has reportedly paused plans for a 2025 IPO, citing market turbulence.
According to The Wall Street Journal, Circle is “waiting anxiously” before taking further steps after filing to take the company public on April 1.
It is among several companies — including fintech Klarna and ticketing service StubHub — reportedly considering altering or shelving IPO plans.
Brazilian judges have been authorized to seize cryptocurrency assets from debtors who owe money and are behind on their payments, signaling a growing recognition that digital assets can be both a form of payment and a store of value.
According to local media reports, the Third Panel of Brazil’s Superior Court of Justice unanimously authorized judges to send letters to cryptocurrency brokers informing them about their intent to seize an account holder’s assets to repay creditors.
The report was confirmed by the Superior Court of Justice, which issued a notice on its website.
The decision was reached unanimously by the Third Panel, which reviewed a case brought forward by a creditor.
“Although they are not legal tender, crypto assets can be used as a form of payment and as a store of value,” a translated version of the Superior Court of Justice’s memo read.
Under existing rules, Brazilian judges are allowed to freeze bank accounts and order fund withdrawals, even without a debtor’s knowledge, should they rule that a creditor is owed money.
Following the recent decision, crypto assets now fall under the same purview.
Minister Ricardo Villas Bôas Cueva, who voted in the five-person panel, said cryptocurrencies still lack formal regulation in Brazil but noted certain bills have recognized the asset class as “a digital representation of value.”
Despite regulatory uncertainty, Brazil is a major hub for crypto
Although Brazil still lacks an overarching framework for digital assets, with the country’s central bank divvying up the regulatory processes into phases, crypto adoption is surging across the country.
Brazil ranks second among all Latin American countries in terms of “crypto value received,” which is a key benchmark for adoption, according to an October report by Chainalysis.
In Latin America, only Argentina has higher crypto penetration in terms of value received as of June 2024. Source: Chainalysis
A Binance executive told Cointelegraph at the time that Brazil was making “significant strides” in regulating the industry and expects a comprehensive framework to be finalized “by mid-year.”
Nevertheless, not all of Brazil’s regulatory proposals have been favorable for the industry.
In December, the country’s central bank proposed banning stablecoin transactions on self-custodial wallets at a time when more locals were using dollar-pegged tokens to hedge against the devaluation of the Brazilian real.
Industry observers told Cointelegraph at the time that such a ban would be difficult to enforce.
“Governments can regulate centralized exchanges, but P2P transactions and decentralized platforms are much harder to control, which means the ban would likely only affect part of the ecosystem,” said Lucien Bourdon, an analyst with Trezor.
The United States Securities and Exchange Commission (SEC) released a statement on April 4 establishing guidelines for stablecoins.
In an April 4 statement, the agency minted a new term, “covered stablecoins,” classifying them as non-securities and exempting such tokens’ transactions from reporting requirements.
According to the SEC’s definition, a “covered stablecoin” is fully backed by physical fiat reserves or short-term, low-risk, highly liquid instruments and is fully redeemable at a 1:1 ratio with US dollars.
The definition precludes algorithmic stablecoins that maintain their US dollar peg using software or an automated trading strategy, leaving the regulatory status of algorithmic stablecoins, synthetic dollars, and yield-bearing fiat tokens uncertain.
Current stablecoin market overview. Source: RWA.XYZ
Industry leaders and executives are currently pushing for regulatory changes that would allow stablecoin issuers to share yield opportunities with stablecoin holders and offer onchain interest.
According to the new guidelines, covered stablecoin issuers must never co-mingle asset reserves with operational capital or offer tokenholders interest, profit, or yield opportunities. Additionally, the covered stablecoin issuers must never use their reserves for investing or market speculation.
The proposed legislation aims to protect the status of the US dollar as the global reserve currency through stablecoins that are backed by US dollars and government securities.
The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) of 2025 Act. Source: US Senate
Centralized stablecoin issuers back their tokens with US dollar deposits held in regulated financial institutions and short-term US Treasury Bills, driving demand for US dollars and US government debt.
Tether, the world’s largest stablecoin issuer, is now the seventh-largest holder of US Treasuries, beating out countries like Canada, Germany, and South Korea.
Speaking at the first White House Digital Asset Summit on March 7, US Treasury Secretary Scott Bessent said the US would use stablecoins to extend US dollar dominance.
Bessent said that regulating stablecoins was central to the administration’s digital asset strategy and a top regulatory priority during the current legislative session.
According to a CryptoQuant Quicktake post published earlier today, Bitcoin (BTC) may not have reached the peak of the current market cycle just yet. A key on-chain metric suggests that there could be one final leg up for the leading cryptocurrency before this bull market concludes.
Bitcoin To Hit New Peak Soon?
Data from CoinGecko shows that Bitcoin has dropped more than 23% since reaching its most recent all-time high (ATH) of $108,786, on January 8. The top digital asset has largely been affected by ongoing global macroeconomic uncertainties, particularly those related to US President Donald Trump’s new tariff policies.
Despite the pullback, CryptoQuant contributor Crypto Dan believes Bitcoin may still have room to run. In a recent Quicktake post, he pointed to the ratio of BTC volume traded over a six to 12-month period as a crucial indicator of the current market cycle’s progression.
This ratio reflects the amount of new capital entering the crypto market during the cycle and has historically been tightly correlated with market movements. According to Crypto Dan:
Typically, this ratio first declines, signalling the end of the early phase of the bull cycle. After some time, it declines again, reaching a lower level than the first drop, marking the end of the bull cycle.
Following the first decline in the ratio, the market often regains bullish momentum. Subsequently, the second leg of the rally tends to attract latecomers and retail investors whose participation sends BTC to new highs.
Finally, as market euphoria begins to peak and distribution phase begins, the volume ratio experiences a second, sharper decline. Finally, the second drop in the ratio marks the end of the bull cycle and precedes a significant market correction.
According to the following chart, BTC hit a critical midpoint in March 2024, when the six to 12-month volume ratio experienced its first notable decline – consistent with patterns observed in previous cycles. The ratio now appears to be entering its second and final dip, potentially leading Bitcoin toward this cycle’s ultimate peak.
BTC Holders Seeing Current Pullback As Temporary
Multiple indicators suggest that Bitcoin holders see the ongoing market correction as short-term. For example, recent analysis by CryptoQuant contributor Onchained revealed that short-term BTC holders are continuing to hold their coins despite being in a loss – possibly in anticipation of an upcoming bullish reversal.
Additionally, exchange net flow data points toward a potential price rally, indicating reduced selling pressure. At press time, BTC is trading at $82,086, down 1.5% in the last 24 hours.
As stock markets crumbled for a second day on April 4, US Federal Reserve Chair Jerome Powell said that the Trump administration’s “reciprocal tariffs” could significantly affect the economy, potentially leading to “higher inflation and slower growth.”
Addressing the public at a conference on April 4, Powell maintained a cautious approach and noted that tariffs could spike inflation “in the coming quarters,” complicating the Fed’s 2% inflation target, just months after rate cuts indicated a soft landing. Powell said,
“While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent.”
Moments before Powell’s speech, US President Donald Trump called out the Fed chair to “CUT INTEREST RATES” in a post on the Truth Social, taking a jab at Powell for being “always late.”
Source: Truth Social
Currently, the Fed faces a critical choice: pause interest rate cuts throughout the year or respond quickly with rate reductions if the economy shows signs of weakening. While the Fed official noted that the economy is in a good place, Powell said that it was,
“Too soon to say what will be the appropriate path for monetary policy,”
On April 4, the unemployment rate also increased to 4.2% in March from 4.1% in February, but on the contrary, March’s Non-Farm Payrolls added 228,000 jobs, which exceeded expectations and reinforced economic strength. In March, the Consumer Price Index (CPI) also rose by 2.8% year over year, with March data due on April 10.
The above figures highlight a strong labor market but nagging inflation concerns, thus aligning with Powell’s warning about potential tariff impacts.
Powell’s caution on higher inflation and slowing economic growth came on the same day that the DOW dropped 2,200 and a 10% two-day loss from the S&P 500. X-based markets resource ‘Watcher Guru’ announced that,
“$3.25 trillion wiped out from the US stock market today. $5.4 billion was added to the crypto market.”
Stock market losses hit $3.5 trillion. Source: Watcher Guru / X
Bitcoin to entertain further volatility
Most investors anticipate that in the short term, Bitcoin (BTC) could see a surge in volatility. Powell’s remarks about tariffs driving “higher inflation” and possibly “higher unemployment” could rattle traditional market investors, prompting a pivot to BTC.
In fact, analysts have pointed out that BTC price appears to be “decoupling” from stocks recent downturn. Although Bitcoin hit a 9-day high on April 2 before President Trump rolled out his “reciprocal tariffs” on “Liberation Day,” the price sold off sharply once the tariffs were revealed at a White House presser.
Since then, Bitcoin has held steady above the $82,000 level, and as US equities markets collapsed on April 4, BTC rallied to $84,720, reflecting price action, which is uncharacteristic of the norm.
BTC/USD price versus major stock indices. Source: X / Cory Bates
Independent market analyst Cory Bates posted the above chart and said,
“[…]Bitcoin is decoupling right before our eyes.”
With China retaliating with 34% tariffs on US goods and Trump pressuring Powell to cut interest rates, market volatility could push Bitcoin’s price upward as a hedge against uncertainty.
During the 2018 U.S.-China trade war, Bitcoin price didn’t see any increase across the entire year. However, it experienced notable volatility and a 15% price rise when the trade war escalated in mid-2018, with the US imposing tariffs on Chinese goods in July, followed by retaliatory measures from China.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Stablecoins are “in a bull market of their own,” even as smart contract platforms — including Ethereum and Solana — sputter amid the marketwide tumult, asset manager VanEck said in an April 3 monthly note.
The diminished activity on smart contract platforms reflects cooling market sentiment in cryptocurrencies and beyond as traders brace for the impact of US President Donald Trump’s sweeping tariff policies and a looming trade war.
But stablecoin adoption — a key measure of Web3’s overall health — continues apace. This is partly because ongoing macroeconomic uncertainty “could accelerate the strategic case for crypto,” Matthew Sigel, VanEck’s head of research, said in an April 4 X post.
Tokenized treasury bills help support stablecoin adoption. Source: VanEck
Stablecoins collectively added nearly $10 billion in total market capitalization in March as multiple issuers, including VanEck, prepare to launch branded stablecoin products, it said.
The inflows persisted despite a steep drop in average stablecoin yields, the asset manager noted.
Stablecoin yields now range from around 3% to 5% — near or slightly below Treasury Bills — compared to as high as 10% at the start of the year, it said.
Even so, issuance of tokenized Treasury Bills — a primary source of institutional stablecoin yield — increased 26% from February to March, surpassing $5 billion in total issuance, according to the report.
Ethereum, Solana slow down
Meanwhile, smart contract platforms suffered across-the-board declines in activity, with revenues and trading volumes dropping 36% and 40%, respectively, according to the report.
Solana has suffered particularly sharply. Daily fee revenues and decentralized exchange (DEX) volumes diminished by 66% and 53%, respectively, in March, VanEck said.
In fact, Solana’s DEX share of volumes once again fell below those of Ethereum and its layer-2 scaling chains (L2s) after briefly surpassing them for the first time in February.
Solana lost ground to Ethereum in DEX volume. Source: VanEck
This relative decline partly reflects a slowdown in memecoin trading, which still dominates Solana DEX activity.
The segment has suffered since February after a series of memecoin-related scandals soured sentiment among retail traders.
On Feb. 14, Libra, a memecoin seemingly endorsed by Argentine President Javier Milei, erased some $4.4 billion in market capitalization within hours of launching.
In March, trading volumes on Ethereum’s L2s also experienced declines — retracing by some 18% from February — but held up better than Solana’s, according to VanEck.
During the final week of March, “blob fees,” the Ethereum network’s main source of income from L2s, sunk to the lowest weekly levels so far this year, according to Etherscan.
The PEPE price has taken a sudden bearish turn after breaking out of an Ascending Triangle pattern. In light of this breakout, a crypto analyst has predicted that PEPE could face a massive 20% price crash if it fails to hold above a critical resistance level.
Bears Threaten 20% Crash In PEPE Price
PEPE’s price action has swiftly reversed from bullish to bearish, marked by a negative Change of Character (CHoCH) following its breakout from an Ascending Triangle pattern. Notably, PEPE’s CHoCH is highlighted where the price broke below previous support, indicating a significant structural shift to the bearish zone as buyers lose momentum.
According to pseudonymous TradingView analyst ‘MyCryptoParadise’, bears could seize control of PEPE’s price as it approaches a crucial resistance zone at $0.000008. The analyst has suggested that if the meme coin fails to break above the resistance, it could result in a 20% crash to lower support levels.
The first minor support level at $0.0000065 is highlighted in the green line on the analyst’s price chart. Should bearish momentum persist, PEPE could drop further, trapping late buyers and extending its correction phase. The analyst has pinpointed a much deeper support zone at $0.0000055, serving as a crucial defense against a stronger price breakdown.
A major factor supporting PEPE’s projected price crash is the alignment of its key resistance level with several bearish elements. The TradingView analyst’s price chart shows that PEPE’s $0.000008 resistance coincides with a 200 Exponential Moving Average (EMA), which acts as a dynamic resistance. The 200 EMA is often a reliable indicator of long-term trend shifts, and its overlap with the resistance adds strength to the bearish outlook.
The resistance also coincides with a Fair Value Gap (FVG), a region where liquidity has been left untested, suggesting that price could be drawn back to fill this gap. Lastly, PEPE’s critical resistance level intersects with a Fibonacci Golden Zone, a key retracement level where price reversals often occur, further signaling the potential for a downturn.
Potential Breakout Scenario
While ‘MyCryptoParadise’ projects a 20% correction for the PEPE price, which is currently trading at $0.00000698, he also shared a possible bullish scenario in which the meme coin surprises traders with an upward breakout. The TradingView analyst has projected that if PEPE manages to close a candle above the $0.000008 resistance, his bearish thesis could be completely invalidated.
In this case, the market should anticipate a continuation of the uptrend, with the next price target potentially reaching $0.0000085 and beyond. However, for bulls to break through this resistance level, strong volume and momentum are required. Given that Pepe’s price is still in the red, this bullish scenario seems like a less likely scenario for now.
The election of US President Donald Trump was supposed to usher in a golden era of crypto. Although the regulatory stars are aligning, the crypto industry just experienced its worst quarter in years.
The prices of Bitcoin (BTC) and Ether (ETH) recorded their worst Q1 in seven years, market sentiment fell to its lowest point since the last bear market, and Coinbase stock experienced its worst sell-off since the FTX debacle.
With the first quarter finally in the books, investors are looking forward to positive catalysts for Bitcoin and the broader market. This could come in the form of favorable Spring seasonality, more clarity on Trump’s tariff policy and shifting policy winds at the Federal Reserve.
Coinbase stock suffers worst quarter since 2022
Coinbase stock, which has long been considered an important bellwether for the crypto industry, plunged by 33% in the first quarter despite reporting strong business fundamentals and a solid revenue outlook. As Cointelegraph reported, it was the worst quarterly decline since the FTX exchange collapse in late 2022.
Like other crypto-native businesses, Coinbase’s performance languished under the pressure of Trump’s tariff war, volatile digital asset prices and the overhang of tightening financial conditions from the previous quarter.
Beyond these short-term headwinds, though, Coinbase is booming. The company’s revenues more than doubled in 2024, reaching $6.6 billion. Its adjusted earnings rose to $3.3 billion, marking two consecutive years of growth.
COIN stock’s volatile year so far. Source: Google Finance
Trump family backs Bitcoin mining venture
Despite fear and volatility gripping the crypto markets, Donald Trump’s family is doubling down on its long-term investments in the industry.
On March 31, two of Trump’s sons, Eric and Donald Jr., announced they are backing a new crypto-mining venture called American Bitcoin. The venture is majority-owned by Hut 8, a public crypto miner.
American Bitcoin “aims to become the world’s largest, most efficient pure-play Bitcoin miner while building a robust strategic Bitcoin reserve,” the announcement said.
Although crypto prices are down, it’s getting harder for investors to remain bearish on the industry with the Trump family investing so heavily. The family is behind the DeFi project World Liberty Financial, which has amassed a large portfolio of digital assets that include Ether, Wrapped Bitcoin (WBTC), Aave (AAVE) and Chainlink (LINK).
Tether stacks more BTC
Stablecoin issuer Tether bolstered its balance sheet in the first quarter by acquiring 8,888 Bitcoin, according to onchain data that was later confirmed by CEO Paolo Ardoino. The company now holds 100,521 BTC valued at roughly $8.7 billion.
Tether is able to acquire Bitcoin and expand its venture capital business thanks in large part to its highly profitable stablecoin operations. The company generated $13 billion in profit last year on the back of its massive holdings of interest-bearing US Treasury bonds.
Despite its success, Tether has been the subject of negative reports by the media, industry and politicians. A recent JPMorgan report argued that Tether would be forced to sell a portion of its Bitcoin holdings to comply with forthcoming US stablecoin regulations.
A company spokesperson threw cold water on the conclusion, telling Cointelegraph that JPMorgan understands “neither Bitcoin nor Tether.”
GameStop raises $1.5B for Bitcoin purchases
Video game retailer turned meme stock GameStop Corporation is poised to add Bitcoin to its balance sheet after finalizing a $1.5 billion convertible debt offering.
“The company expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with the Company’s Investment Policy,” GameStop said.
GameStop’s board approved the plan to invest in Bitcoin last month. The approval also green-lighted the company’s acquisition of US dollar-denominated stablecoins.
In addition to raising debt to buy Bitcoin, GameStop hinted at potentially using a portion of its $4.8 billion cash reserves to fund future acquisitions.
GameStop shares have experienced extreme volatility since March 26, when the company first disclosed its plan to acquire BTC. Source: Google Finance
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The U.S. Securities and Exchange Commission has no business with certain stablecoins or their issuers, the regulator’s staff declared in the latest statement outlining the corners of the crypto sector for which it doesn’t have a legal interest.
Since the agency was taken over by President Donald Trump-appointed leadership and formed a Crypto Task Force to ease pressures on the digital assets space, its staff has issued a series of statements meant to clarify the crypto areas outside its jurisdiction — so far including memecoins and proof-of-work crypto mining. It’s now added stablecoins to that list. The SEC’s Division of Corporation Finance issued the Friday statement — not yet a binding rule, or even formal guidance — to declare stablecoins “do not involve the offer and sale of securities.”
“Persons involved in the process of ‘minting’ (or creating) and redeeming Covered Stablecoins do not need to register those transactions with the Commission under the Securities Act or fall within one of the Securities Act’s exemptions from registration,” according to the statement.
It went on to clarify that such stablecoins — an arena dominated by Tether’s USDT and Circle’s USDC — “are marketed solely for use in commerce, as a means of making payments, transmitting money, and/or storing value, and not as investments.”
Congress has been moving forward on establishing a new set of U.S. standards for the issuance of such tokens. This week, the House Financial Services Committee advanced a stablecoin bill toward a vote of the overall House of Representatives. The Senate is building toward consideration of a similar bill that’s also been approved by committee there — in both cases by a wide, bipartisan vote.
While they’re the most sedate of crypto assets, stablecoins have been a colorful political topic in recent weeks, as the Trump-backed World Liberty Financial pitched its own stablecoin, and some congressional Democrats are concerned that Elon Musk will leverage his status as a tech giant to follow suit.
SEC Commissioner Hester Peirce, who is leading the agency’s task force, has said she feels the early, nonbinding moves to reverse crypto resistance at the SEC are important and should be done as rapidly as possible, even if they’re not yet official policy. She’s said non-fungible tokens (NFTS) may also be considered for such a statement.
The agency may also soon be taken over by Trump’s pick for a permanent chairman if Paul Atkins is confirmed by the Senate. The Senate Banking Committee approved his nomination in a party-line vote this week.
Even before his arrival, interim Chairman Mark Uyeda has made dramatic moves to overhaul the regulator’s crypto position. That’s included throwing out most of the prominent enforcement cases the agency had pursued against digital assets businesses, though a few remain.
First Trust Advisors has launched two Bitcoin (BTC) strategy exchange-traded funds (ETFs) designed to provide investors with Bitcoin exposure while capping losses and earning yield, the asset manager said.
The move comes amid an outpouring of funds seeking to enhance Bitcoin’s appeal to traditional investors by offering tailored exposure to the cryptocurrency’s performance.
The FT Vest Bitcoin Strategy Floor15 ETF (BFAP) is designed to track Bitcoin’s performance up to a capped upside while limiting drawdown risk to approximately 15%, First Trust said in an announcement.
“Over the past few years, investors have shown a remarkably strong appetite for bitcoin-linked ETFs, but the potential for sharp drawdowns has kept many on the sidelines,” Ryan Issakainen, an ETF strategist at First Trust, said in a statement.
First Trust launched two new Bitcoin strategy funds. Source: First Trust
The FT Vest Bitcoin Strategy & Target Income ETF (DFII) is an actively managed fund aiming to offer partial Bitcoin exposure while generating a yield that beats short-dated US Treasurys by at least 15%, according to the asset manager.
The DFII fund “will seek to take advantage of bitcoin’s high volatility to generate income by selling call options,” Issakainen said. The BFAP fund also uses financial derivatives to hedge downside risk.
Options are contracts granting the right to buy or sell — “call” or “put,” in trader parlance — an underlying asset at a certain price.
Launched in January 2024, Bitcoin ETFs emerged as one of last year’s hottest investment products.
As of April 4, spot BTC ETFs collectively manage approximately $93 billion in assets, according to data from Bitbo.
Bitcoin ETFs saw outflows after US President Trump announced tariffs. Source: Farside Investors
Other types of ETFs designed to offer tailored exposure to Bitcoin’s performance are also gaining popularity.
On April 2, Grayscale — a cryptocurrency-focused asset manager — launched two Bitcoin strategy ETFs. Like First Trust’s ETFs, they use financial derivatives to optimize for downside risk management and income generation.
Spot BTC ETFs saw nearly $100 million in outflows on April 3 amid the heightened market volatility following US President Donald Trump’s tariff announcement of sweeping tariffs on April 2.
Ethereum is trading below the $1,900 level, facing ongoing selling pressure as the broader crypto market continues to weaken. After a sharp rejection from the $2,500 mark in late February, bulls have failed to regain momentum, and ETH has steadily declined — disappointing many investors who entered the year with high expectations for a bullish trend. The loss of key support levels has further damaged sentiment, and Ethereum’s price action remains bearish in the short term.
Despite the negative outlook, there are signs of accumulation beneath the surface. According to data from IntoTheBlock, Ethereum whales are buying the dip. The largest ETH wallets added over 130,000 ETH to their holdings just yesterday — a move that suggests confidence from long-term players even as retail sentiment wavers.
This accumulation could signal a shift in momentum if sustained, especially if whales continue to absorb supply while prices remain low. However, for any real recovery to take hold, Ethereum must reclaim critical resistance levels and show stronger buying activity across the board. For now, the market remains under pressure, but whale behavior could offer a hint of what’s to come once the current downtrend begins to ease.
Ethereum Big Players Buy Amid Market Uncertainty
Ethereum is currently down 55% from its December high, reflecting the broader pain across the crypto market. The selloff has been fueled in large part by rising macroeconomic uncertainty, with U.S. President Donald Trump’s aggressive trade policies and unpredictable tariff announcements adding to global financial instability. As traditional markets struggle to find footing, high-risk assets like Ethereum have been among the hardest hit.
Bulls are having a difficult time defending key support levels, and price action suggests the downtrend may continue in the short term. With Ethereum trading well below the $1,900 mark and no clear signs of bullish momentum, the outlook remains fragile.
Still, not all signals are bearish. According to data from IntoTheBlock, Ethereum whales appear to be accumulating. On a single day, the largest ETH wallets added over 130,000 ETH to their holdings — a move that suggests quiet confidence among major players. This level of accumulation, especially during periods of fear and weakness, often hints at a long-term bullish outlook.
While price continues to trend lower, the behavior of these large holders adds to the speculative environment, signaling that some investors may be positioning early for a potential surge. If macro conditions begin to stabilize or sentiment shifts, Ethereum could benefit from this quiet accumulation phase — but for now, the market remains in correction mode.
Technical Analysis: ETH Bulls Defend Critical Support
Ethereum is trading at $1,830 following a wave of heavy selling pressure that pushed the price sharply below the key $2,000 level. Panic selling has gripped the market, with bulls struggling to regain control amid a broader downturn across the crypto space. The breakdown below $2,000 marked a significant shift in sentiment, turning what was once viewed as a consolidation phase into a deeper correction.
At this stage, bulls must hold the $1,800 support level — a critical threshold that, if lost, could lead to a further decline toward $1,750 or lower. Holding above $1,800 would allow for stabilization and the chance to build a foundation for recovery. However, to signal a meaningful reversal, Ethereum needs to reclaim the $2,100 level, which now acts as short-term resistance.
Only a decisive push above that mark would confirm renewed strength and potentially reestablish bullish momentum. Until then, ETH remains vulnerable to further downside. With broader market conditions still uncertain, Ethereum’s next move around these support levels will be crucial in determining whether it can recover in the near term or slide deeper into correction territory.
Featured image from Dall-E, chart from TradingView
Bitcoin (BTC) price has managed to stay above the $80,000 level as volatility wrecked US stock markets on April 3 and April 4. The failure of the bears to capitalize on the opportunity shows a lack of selling at lower levels.
While several market participants are concerned about the near-term impact of tariffs, BitMEX co-founder Arthur Hayes said he loves tariffs since he expects them to be positive for Bitcoin and gold in the medium term.
Capriole Investments founder Charles Edwards said in his analysis that Bitcoin would turn bullish on a break and close above $91,000. If that does not happen, he anticipates Bitcoin to fall to the $71,000 zone.
Could Bitcoin outperform by staying above $80,000? Will the altcoins crumble? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin rose above the resistance line on April 2, but the long wick on the candlestick shows solid selling at higher levels. The price turned down sharply and broke below the 20-day exponential moving average ($84,483).
The bears will have to sink the price below the $80,000 support to strengthen their position. If they do that, the BTC/USDT pair could retest the March 11 low of $76,606. Buyers are expected to defend this level with all their might because a break and close below $76,606 could sink the pair to $73,777 and eventually to $67,000.
The crucial resistance to watch out for on the upside is $88,500. A break and close above this level will signal that the corrective phase may be over. The pair could then start its journey toward $95,000.
Ether price analysis
Ether (ETH) has been trading between the $1,754 support and the 20-day EMA ($1,928) for the past few days.
That increases the likelihood of a break and close below $1,754. If sellers can pull it off, the ETH/USDT pair could start the next leg of the downtrend to $1,550.
A minor positive in favor of the bulls is that the relative strength index (RSI) has formed a positive divergence. That suggests the bearish momentum may be weakening. If the price rebounds off $1,754, the pair could face selling at the 20-day EMA. However, if buyers overcome the obstacle, the pair could rally to $2,111. A short-term trend reversal will be signaled on a close above $2,111.
XRP price analysis
XRP (XRP) bears successfully defended the 20-day EMA ($2.23) on April 2 and pulled the price to the critical support at $2.
The downsloping 20-day EMA and the RSI below 44 increase the risk of a break below $2. If that happens, the XRP/USDT pair will complete a bearish head-and-shoulders pattern. The pair has support at $1.77, but if the level gets taken out, the decline could extend to $1.27.
Buyers have an uphill task ahead of them if they want to prevent the breakdown. They will have to swiftly push the price above the 50-day simple moving average ($2.37) to clear the path for a relief rally to the resistance line.
BNB price analysis
BNB (BNB) bulls failed to push the price back above the moving averages in the past few days, indicating selling at higher levels.
The moving averages have started to turn down, and the RSI is in the negative zone, signaling a minor advantage for the bears. There is support at the 50% Fibonacci retracement level of $575 and next at the 61.8% retracement level of $559.
On the upside, the bulls will have to push and maintain the price above the 50-day SMA ($614) to signal a comeback. The BNB/USDT pair may rise to $644, which is a critical overhead resistance to watch out for. If buyers overcome the barrier at $644, the pair may travel to $686.
Solana price analysis
Solana (SOL) rose above the 20-day EMA ($128) on April 2, but the bears sold at higher levels and pulled the price below the $120 support.
The downsloping moving averages and the RSI in the negative territory heighten the risk of a break below $110. If that happens, the selling could intensify, and the SOL/USDT pair may plummet to $100 and subsequently to $80.
The bulls are unlikely to give up easily and will try to keep the pair inside the $110 to $260 range. Buyers will have to push and maintain the price above $147 to suggest that the selling pressure is reducing. The pair may then ascend to $180.
Dogecoin price analysis
Dogecoin (DOGE) bears thwarted attempts by the bulls to push the price above the 20-day EMA ($0.17) on April 2.
A positive sign in favor of the bulls is that they have not allowed the price to slide below the $0.16 support. A break above the 20-day EMA could push the price to the 50-day SMA ($0.19). Buyers will have to overcome the 50-day SMA to start a rally to $0.24 and later to $0.29.
Alternatively, if the price turns down from the moving averages and breaks below $0.16, it will clear the path for a drop to $0.14. Buyers are expected to fiercely defend the $0.14 support because a break below it may sink the DOGE/USDT pair to $0.10.
Cardano price analysis
Cardano (ADA) turned down sharply from the 20-day EMA ($0.69) on April 2 and closed below the uptrend line.
The bulls are trying to push the price back above the uptrend line but are likely to face solid selling at the 20-day EMA. If the price turns down from the overhead resistance, the ADA/USDT pair could descend to $0.58 and then to $0.50.
This negative view will be invalidated in the near term if the price turns up sharply and breaks above the 50-day SMA ($0.74). That opens the doors for a rally to $0.84, which may attract sellers.
The TON/USDT pair broke below the 20-day EMA ($3.65) on April 3, indicating that the bullish momentum is weakening. There is support at $3.32, but if the level cracks, the pair may drop to $2.81.
Instead, if the price rebounds off $3.32, the pair could attempt to form a range in the near term. The pair could swing between $3.32 and $4.14 for some time. A break and close above $4.14 will signal that the downtrend may be over. The pair could then jump to $5.
UNUS SED LEO price analysis
UNUS SED LEO (LEO) bears pulled the price below the uptrend line on March 2 but could not sustain the lower levels. That suggests buying at lower levels.
The 20-day EMA ($9.57) is turning down gradually, and the RSI is in the negative zone, signaling a slight advantage to the bears. If the price turns down from the moving averages, the bears will make one more attempt to sink the LEO/USD pair below the $8.84 support. If they succeed, the pair may tumble to $8.
Contrarily, a break above the moving averages opens the doors for a rise to the overhead resistance of $9.90. If buyers pierce the $9.90 resistance, the pair will complete a bullish ascending triangle pattern. The pair may then climb toward the target objective of $12.04.
Chainlink price analysis
Chainlink (LINK) once again turned down from the 20-day EMA ($13.98) on March 2, indicating that the bears continue selling on rallies.
The LINK/USDT pair has strong support in the zone between $12 and the support line of the descending channel pattern. A rebound off the support zone will have to rise above the moving averages to signal a stronger recovery toward $17.50.
Sellers are likely to have other plans. They will attempt to pull the price below the support line. If they can pull it off, the pair could extend the downtrend toward the crucial support at $10 and, after that, to $8.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Despite growing tariff-related uncertainty, there is a 70% probability cryptocurrency markets will find the local bottom in the next two months, which will serve as the supporting foundation for the next leg up in the 2025 cycle, according to Nansen analysts.
Savvy traders continue making generational wealth despite growing volatility and lack of risk appetite. One unidentified trader turned an initial $2,000 investment into over $43 million by trading the popular frog-themed memecoin, Pepe.
70% chance of crypto bottoming before June amid trade fears: Nansen
The cryptocurrency market may see a local bottom in the next two months amid global uncertainty over ongoing import tariff negotiations, which have been limiting investor sentiment in both traditional and digital markets.
US President Donald Trump on April 2 announced reciprocal import tariffs, measures aimed at reducing the country’s estimated trade deficit of $1.2 trillion in goods and boosting domestic manufacturing.
While global markets took a hit from the first tariff announcement, there is a 70% chance for cryptocurrency valuations to find their bottom by June, according to Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform.
The research analyst told Cointelegraph:
“Nansen data estimates a 70% probability that crypto prices will bottom between now and June, with BTC and ETH currently trading 15% and 22% below their year-to-date highs, respectively. Given this data, upcoming discussions will serve as crucial market indicators.”
She added: “Once the toughest part of the negotiation is behind us, we see a cleaner opportunity for crypto and risk assets to finally mark a bottom.”
Crypto trader turns $2,000 of PEPE into $43 million
A savvy cryptocurrency trader reportedly turned $2,000 into more than $43 million by investing in the memecoin Pepe at its peak valuation, despite the token’s extreme volatility and lack of underlying technical value.
The trader made an over 4,700-fold return on investment on the popular frog-themed Pepe (PEPE) cryptocurrency, according to blockchain intelligence platform Lookonchain.
“This OG spent only $2,184 to buy 1.5T $PEPE($43M at the peak) in the early stage. He sold 1.02T $PEPE for $6.66M, leaving 493B $PEPE($3.64M), with a total profit of $10.3M(4,718x), Lookonchain wrote in a March 29 X post.
The trader realized over $10 million in profit despite Pepe’s price falling over 74% from its all-time high of $0.00002825, reached on Dec. 9, 2024, Cointelegraph Markets Pro data shows.
PEPE/USD, all-time chart. Source: Cointelegraph Markets Pro
Memecoins are considered some of the most speculative and volatile digital assets, with price action driven largely by online enthusiasm and social sentiment rather than fundamental utility or innovation.
Still, they’ve proven capable of generating life-changing returns. In May 2024, another early Pepe investor turned $27 into $52 million — a 1.9 million-fold return — according to onchain data.
$1 trillion stablecoin supply could drive next crypto rally — CoinFund’s Pakman
The global stablecoin supply may surge to $1 trillion by the end of 2025, potentially becoming a key catalyst for broader cryptocurrency market growth, according to David Pakman, managing partner at crypto-native investment firm CoinFund.
“We’re in a stablecoin adoption upswell that’s likely to increase dramatically this year,” Pakman said during Cointelegraph’s Chainreaction live show on X on March 27. “We could go from $225 billion stablecoins to $1 trillion just this calendar year.”
He noted that such growth, while modest compared to global financial markets, would represent a “meaningfully significant” shift for blockchain-based finance.
Pakman also suggested that the rise in capital flowing onchain, combined with growing interest in exchange-traded funds (ETFs), could further support decentralized finance (DeFi) activity:
“If we have a moment this year where ETFs are permitted to provide staking rewards or yield to holders, that unlocks really meaningful uplift in DeFi activity, broadly defined.”
Avalanche stablecoins up 70% to $2.5 billion; AVAX demand lacks DeFi deployment
Avalanche saw a significant surge in stablecoin supply over the past year, but the onchain deployment of this capital points to passive investor behavior, which may be limiting demand for the network’s utility token.
The stablecoin supply on the Avalanche network rose by over 70% over the past year, from $1.5 billion in March 2024 to over $2.5 billion as of March 31, 2025, according to Avalanche’s X post.
Market capitalization of stablecoins on Avalanche. Source: Avalanche
Stablecoins are the main bridge between the fiat and crypto world, and increasing stablecoin supply is often seen as a signal for incoming buying pressure and growing investor appetite.
However, Avalanche’s (AVAX) token has been in a downtrend, dropping nearly 60% over the past year to trade just above $19 despite the $1 billion increase in stablecoin supply, Cointelegraph Markets Pro data shows.
AVAX/USD,1-year chart. Source: Cointelegraph Markets Pro
“The apparent contradiction between surging stablecoin value on Avalanche and AVAX’s significant price decline likely stems from how that stablecoin liquidity is being held,” according to Juan Pellicer, senior research analyst at IntoTheBlock crypto intelligence platform.
DeFi TVL falls 27% while AI, social apps surge in Q1: DappRadar
Economic uncertainty and a major crypto exchange hack pushed down the total value locked in decentralized finance (DeFi) protocols to $156 billion in the first quarter of 2025, but AI and social apps gained ground with an increase in network users, according to a crypto analytics firm.
“Broader economic uncertainty and lingering aftershocks from the Bybit exploit” were the main contributing factors to the DeFi sector’s 27% quarter-on-quarter fall in TVL, according to an April 3 report from DappRadar, which noted that the price of Ether (ETH) fell 45% to $1,820 over the same period.
Change in DeFi total value locked between Jan. 2024 and March 2025. Source: DappRadar
The largest blockchain by TVL, Ethereum, fell 37% to $96 billion, while Sui was the hardest hit of the top 10 blockchains by TVL, falling 44% to $2 billion.
Meanwhile, blockchains that experienced a larger volume of DeFi withdrawals and had a smaller share of stablecoins locked in their protocols faced extra pressure on top of the falling token prices.
The newly launched Berachain was the only top-10 blockchain by TVL to rise, accumulating $5.17 billion between Feb. 6 and March 31, DappRadar noted.
According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red.
The Pi Network (PI) token fell over 34%, logging the week’s biggest decline, followed by the Berachain (BERA) token, down nearly 30% on the weekly chart.
Total value locked in DeFi. Source: DefiLlama
Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
Nearly 10% return on Day 1, showing immediate trading interest.
China — 34%
