Cryptocurrency Market Performance
Currently, the total market capitalization of cryptocurrencies is $2.94 trillion, with BTC accounting for 63.45%, which is $1.87 trillion. The market cap of stablecoins is $238 billion, with a 7-day increase of 1.61%, of which USDT accounts for 61.66%.
This week, BTC's price has shown a fluctuating upward trend, currently priced at $94,734; ETH has shown range fluctuations, currently priced at $1,800.
Among the top 200 projects on CoinMarketCap, most have declined while a few have increased, including: VIRTUAL with a 7-day increase of 98.2%, BRETT with a 7-day increase of 92.8%, TRUMP with a 7-day increase of 81.1%, and TURBO with a 7-day increase of 122.77%.
This week, the net inflow for the U.S. Bitcoin spot ETF was $3.033 billion; the net inflow for the U.S. Ethereum spot ETF was $157 million.
On April 26, the "Fear & Greed Index" was at 65 (lower than last week), with this week's sentiment: 2 days of fear, 2 days of neutrality, and 3 days of greed.
Market Prediction: This week, there has been a significant increase in the issuance of stablecoins, with large net inflows into the U.S. Bitcoin spot ETF and small net inflows into the Ethereum ETF. Due to the Trump administration's easing stance on high tariffs, combined with the Federal Reserve Board's comments on "possible interest rate cuts," market morale has been greatly boosted. BTC broke through $95,000 from $85,000 in one go, with large buy orders primarily from institutions and listed companies, leading altcoins to rise accordingly.
The market is currently in a state of greed. The probability of the Federal Reserve cutting rates by 25 basis points in May is only 3.5%, which is lower than last week. A rate cut in May seems unlikely, while a cut in June remains quite possible. It is expected that the market will break out after a period of narrow fluctuations, and once there is any positive news for crypto, BTC could return to the $100,000 range.
Understanding Now
Review of Major Events of the Week
On April 19, Du Jun, co-founder of ABCDE, posted on social media stating that ABCDE has officially stopped investing in new projects and suspended the fundraising plan for the second phase of the fund;
On April 19, according to the latest CNBC national economic survey, U.S. President Donald Trump faced widespread dissatisfaction regarding his handling of tariffs, inflation, and government spending, with his economic approval rating dropping to the lowest level since taking office;
On April 22, Decrypt reported that the new chair of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, will face 15 applications for altcoin and meme token ETFs after officially taking office, along with the review of over 70 application documents;
On April 23, market news indicated that President Trump stated that tariffs on Chinese goods would not reach 145%, and tariffs would significantly decrease but not go to zero;
On April 23, U.S. Secretary of Commerce Howard Lutnick's son, Brandon Lutnick, is leading a financial services company, Cantor, in collaboration with SoftBank, Tether, and crypto trading platform Bitfinex to form a Bitcoin investment consortium exceeding $3 billion;
On April 23, the White House is set to reach a comprehensive agreement with Japan and India to avoid imposing large-scale tariffs, although many tricky details may be left for later discussion;
On April 24, official news announced that the top 25 TRUMP holders will be invited to an exclusive reception before the TRUMP dinner, where they will dine with Trump. Additionally, the TRUMP official arranged a special VIP White House tour for these whales the following day;
On April 24, according to Bitcoin Laws, New Hampshire's Bitcoin reserve bill HB 302 has passed the Senate Finance Committee vote, with a result of 4 votes in favor and 1 against;
On April 25, the Federal Reserve announced the withdrawal of regulatory guidelines for banks' crypto assets and dollar token businesses, while simultaneously updating the expected standards for related businesses. This move aims to ensure that regulatory requirements keep pace with evolving risks and further support innovation in the banking system. On April 25, Raydium released a tweet related to airdrop emojis, possibly hinting at an upcoming airdrop.
Macroeconomics
On April 24, Federal Reserve Governor Waller stated that as unemployment rises, interest rate cuts may begin;
On April 23, according to CME's "FedWatch" data, the probability of the Federal Reserve cutting rates by 25 basis points in May is 3.5%, while the probability of maintaining rates is 96.5%;
On April 24, Bitcoin News reported that Samson Mow, CEO of Bitcoin technology company JAN3, met with Japanese Senator Satoshi Hamada to discuss the urgent need for Japan to formulate a national Bitcoin strategy.
ETF
According to statistics, from April 21 to April 25, the net inflow for the U.S. Bitcoin spot ETF was $3.033 billion; as of April 25, GBTC (Grayscale) had a total outflow of $22.642 billion, currently holding $18.246 billion, while IBIT (BlackRock) currently holds $55.646 billion. The total market capitalization of U.S. Bitcoin spot ETFs is $111.026 billion.
The net inflow for the U.S. Ethereum spot ETF was $157 million.
Envisioning the Future
Upcoming Events
The Staking Summit will be held on April 28 and 29, 2025, in Dubai;
TOKEN2049 Dubai 2025 will take place from April 30 to May 1, 2025, in Dubai;
Canada Crypto Week will be held from May 11 to 17, 2025, in Toronto, Canada;
Bitcoin 2025 will be held from May 27 to 29 in Las Vegas, USA.
Project Progress
The AI on-chain trading and whale tracking platform Delulu will distribute Lulu points, cash vouchers, and other rewards to beta traders before April 29 (for 21 days);
The Arcium public testnet will launch on April 30;
The application window for the Definitive token EDGE will remain open until May 1, 2025;
The AI agent Echos launched by the Cosmos ecosystem liquid staking protocol Stride will close on May 1, and users need to withdraw funds before the permanent closure on May 1.
Important Events
Cboe Digital, the crypto division of the Chicago Board Options Exchange, plans to launch a new Bitcoin futures product on April 28, currently awaiting regulatory approval. The new trading product, in collaboration with FTSE Russell, will be cash-settled and based on the XBTF index, which is equivalent to one-tenth of the FTSE Bitcoin Index value. It will settle on the last business day of each month;
A Nigerian court has postponed the trial of Binance and its executives for tax evasion until April 30, to allow local tax authorities to respond to the cryptocurrency exchange's request to withdraw the order for court documents delivered via email;
The deadline for creditor claims submission for Terraform Labs is May 1, 2025, at 7:59;
According to Techinasia, the crypto investment platform Bake will close its Singapore market and services starting May 1.
Token Unlocking
IOTA (IOTA) will unlock 15.16 million tokens on April 30, valued at approximately $2.54 million, accounting for 0.41% of the circulating supply;
Renzo (REZ) will unlock 864 million tokens on April 30, valued at approximately $13.08 million, accounting for 8.64% of the circulating supply;
dYdX (ETHDYDX) will unlock 8.33 million tokens on May 1, valued at approximately $5.64 million, accounting for 1.13% of the circulating supply;
Omni Network (OMNI) will unlock 16.64 million tokens on May 2, valued at approximately $45.97 million, accounting for 16.64% of the circulating supply.
About Us
Hotcoin Research, as the core investment research hub of the Hotcoin ecosystem, focuses on providing professional in-depth analysis and forward-looking insights for global crypto asset investors. We have built a "trend judgment + value excavation + real-time tracking" integrated service system, offering in-depth analysis of cryptocurrency industry trends, multi-dimensional assessments of potential projects, and all-day market volatility monitoring. Combined with our weekly live strategy sessions of "Hotcoin Selected" and daily news briefings of "Blockchain Today," we provide precise market interpretations and practical strategies for investors at different levels. Leveraging cutting-edge data analysis models and industry resource networks, we continuously empower novice investors to establish cognitive frameworks and assist professional institutions in capturing alpha returns, collectively seizing value growth opportunities in the Web3 era.
Risk Warning
The cryptocurrency market is highly volatile, and investment carries risks. We strongly recommend that investors fully understand these risks and invest within a strict risk management framework to ensure the safety of their funds.
Website: https://lite.hotcoingex.cc/r/Hotcoinresearch
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