1. Market Observation
Keywords: Trump, ETH, BTC
Recently, Trump stated he has no intention of firing Federal Reserve Chairman Powell, while admitting that tariffs on Chinese exports are too high, hinting at a significant reduction in tax rates. Meanwhile, there are signs of easing geopolitical tensions, as Putin has proposed halting attacks on Ukraine at the current front lines as part of efforts to reach a peace agreement with Trump. These signs of easing have directly impacted the performance of safe-haven assets, with spot gold dropping about $160 from yesterday's high of $3,500, currently quoted at $3,339 per ounce.
Cryptocurrency assets have seen a significant rebound. Bitcoin broke through the critical resistance level of $90,000 yesterday, rising above $94,000 this morning, with its market capitalization surpassing silver and Amazon, ranking sixth in global asset market value. 10x Research points out that the current key resistance area is between $94,000 and $95,000. Traders in the Greeks.live community believe that after Bitcoin breaks $90,000, the next target will be $93,000/$100,000; while those taking a cautious stance are watching for a possible pullback, expecting a significant rise only after a retest of levels around $84,000 or $74,000. Additionally, Cantor Fitzgerald, led by Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, is collaborating with several institutions to create a Bitcoin acquisition platform worth billions of dollars, which will become another strong buyer of Bitcoin.
Furthermore, Arthur Hayes is optimistic about Bitcoin's future, believing it will detach from its correlation with tech stocks and rejoin gold as a market safe-haven asset. He predicts that after Bitcoin breaks $110,000, it could climb all the way to $200,000, prompting funds to flow from Bitcoin into altcoins. Standard Chartered's Geoff Kendrick also holds an optimistic view, predicting that if concerns about the Federal Reserve's independence persist, Bitcoin could reach an all-time high, forecasting it will hit $200,000 by the end of 2025.
In the altcoin sector, Solana has rebounded alongside the market, rising above $150 this morning. This surge is supported by institutional funds, with Galaxy Digital converting $100 million in ETH to SOL, U.S. listed company DeFi Dev Corp increasing its SOL holdings by $11.5 million, and blockchain payment provider Astra Fintech establishing a $100 million fund to support Solana's development in Asia. In this atmosphere, the AI Meme sector has seen the largest rebound, with ZEREBRO doubling in daily gains and Fartcoin's market capitalization surpassing $1 billion.
On the macroeconomic front, U.S. Treasury Secretary Basant stated that the tariff deadlock is unsustainable and expects the situation to ease. Trump's attitude towards the Federal Reserve has also softened, stating, "We believe the Federal Reserve should lower interest rates; now is a perfect time. We hope our chairman can lower rates early or on time." He also expressed satisfaction with the stock market's performance. According to CME's "FedWatch" data, the probability of the Federal Reserve maintaining interest rates in May is 91.7%, with an 8.3% chance of a 25 basis point cut. The probability of the Fed maintaining rates until June is 32.8%, with a cumulative 25 basis point cut probability of 61.8% and a cumulative 50 basis point cut probability of 5.3%.
2. Key Data (as of April 23, 12:00 HKT)
(Data source: Coinglass, Upbit, Coingecko, SoSoValue, Tomars, GMGN)
Bitcoin: $93,203.77 (Year-to-date -0.45%), daily spot trading volume $55.665 billion
Ethereum: $1,794.45 (Year-to-date -46.28%), daily spot trading volume $25.673 billion
Fear and Greed Index: 72 (Greed)
Average GAS: BTC 1.05 sat/vB, ETH 0.67 Gwei
Market Share: BTC 63.3%, ETH 7.4%
Upbit 24-hour Trading Volume Ranking: DEEP, XRP, BTC, AERGO, TT
24-hour BTC Long/Short Ratio: 1.005
Sector Performance: MemeAI sector up 14.52%, AI sector up 13.81%
24-hour Liquidation Data: A total of 160,939 people liquidated globally, with a total liquidation amount of $603 million, including $298 million in BTC, $125 million in ETH, and $19.13 million in SOL.
BTC Medium to Long-term Trend Channel: Upper line ($87,457.52), lower line ($85,725.69)
ETH Medium to Long-term Trend Channel: Upper line ($1,652.44), lower line ($1,619.72)
*Note: When the price is above the upper and lower lines, it indicates a medium to long-term bullish trend; conversely, it indicates a bearish trend. When the price is within the range or fluctuates through the cost range in the short term, it indicates a bottoming or topping state.
3. ETF Flows (April 14 to April 22 EST)
Bitcoin ETF: $936 million
Ethereum ETF: $38.74 million
4. Today's Outlook
Google Begins Implementing MiCA Crypto Advertising Rules in the EU Today
Lending Protocol Dolomite Will Conduct TGE on April 24, Airdropping 20% DOLO
Coinbase International Launches Trading for WCT, BABY, and Three Other Perpetual Contracts
Binance Will Terminate Withdrawal Services for AMB, CLV, STMX, and VITE on April 24
The Federal Reserve Will Release the Beige Book on Economic Conditions. (April 24, 02:00)
Karrat (KARRAT) Unlocks Approximately 21.25 Million Tokens, Representing 8.79% of Current Circulation, Valued at Approximately $1.3 Million
Murasaki (MURA) Unlocks Approximately 10 Million Tokens, Representing 1.00% of Current Circulation, Valued at Approximately $4 Million
Eigenlayer (EIGEN) Unlocks Approximately 1.29 Million Tokens, Representing 0.53% of Current Circulation, Valued at Approximately $1.1 Million
Top 500 Market Cap Gainers Today: ZEREBRO up 151.13%, DEEP up 126.82%, TURBO up 50.83%, ARC up 48.62%, ALCH up 39.56%.
5. Hot News
Bloomberg: Details of U.S. Strategic Bitcoin Reserves May Be Disclosed in the Coming Weeks
Bitcoin Spot ETF Saw a Net Inflow of $936 Million Yesterday, Continuing Three Days of Net Inflows
Today's Fear and Greed Index Rises to 72, Market Sentiment in Greed State
Bitcoin Surpasses Silver and Amazon, Rising to Sixth Place in Global Asset Market Value
Trump: No Intention to Fire Powell, but the Federal Reserve Should Lower Interest Rates
Trump Acknowledges High Tariffs on Imports from China, Expected to Significantly Reduce Them
The Three Major U.S. Stock Indices Closed Significantly Higher, Each Rising Over 2%
U.S. Listed Company DeFi Dev Corp (formerly Janover) Increases Holdings of SOL Worth $11.5 Million
A Whale Withdraws 1,000 BTC from Binance Again, Currently Holding 19,112 BTC
A Whale Purchases $4 Million Worth of Fartcoin Tokens and $3.5 Million Worth of TRUMP Tokens
Metaplanet Currently Holds 4,855 BTC, Plans to Hold 10,000 BTC by Year-End
OKEx to Delist Five Spot Trading Pairs Including KISHU and MAX on April 29
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