Original Author: 1912212.eth, Foresight News
On April 21, Bitcoin broke through $87,000, Ethereum rose above $1,600, and SOL also climbed above $140, with altcoins experiencing slight increases. According to Coinglass data, the 24-hour liquidation of open contracts across the network reached $220 million, with short positions liquidating $142 million.
The global macroeconomic landscape is complex under the dual influence of Federal Reserve policies and the Trump administration's tariff measures, putting pressure on both the U.S. stock market and the crypto market. Recently, Federal Reserve Chair Jerome Powell stated that the market's expectation for the Fed to intervene to calm volatility might be misguided. When asked if the Fed would intervene in response to a sharp decline in the stock market, Powell replied, "My answer is no, but I will provide an explanation." Under Powell's hawkish remarks, Trump continues to pressure him, and the timing of interest rate cuts remains uncertain.
Regarding tariffs, Wall Street Journal reported that Trump hinted in an interview last week that the tit-for-tat tariff increases between the U.S. and China might soon come to an end. Trump mentioned during a discussion on tariffs at the White House, "I do not want tariffs to continue to rise because at a certain point, people will stop buying."
However, given the uncertainty of the final outcome, macro market sentiment has not significantly improved. Today, spot gold has reached a new historical high of $3,364 per ounce, while the crypto market continues to fluctuate, entering a dull period.
How will the market unfold in the future? Some institutional experts have shared their views.
Placeholder Partner: Bitcoin Will Reach New Highs This Year
Placeholder partner Chris Burniske tweeted that he predicts the market may experience a few more quarters of growth, after which everyone will turn bearish again. He advised investors to take profits when market sentiment is high. In response to comments, Chris Burniske stated that Bitcoin will reach new highs this year.
Matrixport: Bitcoin Needs Multiple Catalysts for Sustained Growth
Matrixport recently released a summary report stating that for Bitcoin to achieve sustained growth, possible catalysts include:
(1) The Federal Reserve signaling a dovish stance or cutting interest rates;
(2) Micro-level liquidity growth, such as an increase in stablecoins and futures leverage;
(3) Macro-level liquidity growth, such as an increase in money supply or government stimulus measures.
For altcoins to see significant upward movement, actual application scenarios need to drive demand growth or liquidity surges. However, based on tracking indicators, the likelihood of significant liquidity inflow into the crypto market is low.
Real Vision Founder: Bitcoin Will Follow M2 Growth
The founder of Real Vision recently released a diagram showing the price of Bitcoin in relation to global M2 liquidity, stating that Bitcoin will also rise in line with M2 trends.
Trader: Focus on the $88,000 Level
Trader Saint Pump tweeted that Bitcoin shorts have been squeezed during this rise, and the focus is now on the $88,000 level.
10x Research Head: Bitcoin May Be Entering a Long-Term Consolidation Period
Markus Thielen, head of 10x Research, believes that Bitcoin may be entering a long-term consolidation period. In a recent market report, Markus warned that while many analysts predict a new historical high by mid-year, short-term technical signals depict a more cautious picture. Markus pointed out that the Bitcoin random oscillator—a technical indicator measuring momentum—indicates that market characteristics are more aligned with a late-cycle top rather than the beginning of a new bull market.
Santiment: Bitcoin Whales Are Still Accumulating
Data released by Santiment shows that wallets holding between 10 and 10,000 Bitcoins, considered key stakeholders in Bitcoin, currently hold 67.77% of this asset, which has the highest market value in the cryptocurrency market. During the market fluctuations in April, these wallets continued to accumulate, having bought over 53,600 Bitcoins since March 22.
Coinbase Research Head: Market May Bottom in Mid-2025
David Duong, head of research at Coinbase, predicted in a recent monthly report that the market may bottom out in the mid-second quarter of 2025, creating conditions for a recovery in the third quarter. He currently advises investors to maintain a defensive stance on risk assets.
Bitwise Chief Investment Officer: Optimistic About Market Q2 Rebound
Bitwise Chief Investment Officer Matt Hougan referred to Q1 of this year as "the best of the worst quarters in crypto history," and pointed out several factors that could drive a market rebound in Q2: an increase in global money supply, an improved regulatory environment in the U.S., and a record high in stablecoin asset management.
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