Market Overview
The crypto market is experiencing a mild intraday correction as the recent bull run begins to cool. Key highlights:
- Total Market Cap: $2.88 trillion (-0.67% in 24h).
- Bitcoin (BTC): Trading at $93,174 (-0.89%), after a 9% weekly surge.
- Ethereum (ETH): Facing resistance near $1,800.
- Altcoins: Solana (SOL) and XRP outperform despite broader market pauses.
Investor sentiment, measured by the Crypto Fear & Greed Index, peaked at 72 ("Greed") on April 23 but moderated to 60 by April 25, suggesting caution.
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Bitcoin: Bullish Signals Emerge
- Supply in Profit: 16.7M BTC (93% of circulating supply) — a historically bullish threshold.
Key Levels:
- Support: $90,000; $73,500 (critical).
- Resistance: $100,000; $110,000 (all-time high).
Bitcoin's ability to hold above $90,000 signals strong upward potential, mirroring pre-bull-run patterns from 2016 and 2020.
Ethereum: Long-Term Accumulation Surges
- Record Inflows: 449K ETH moved to accumulation wallets on April 22 — the largest single-day inflow in 5 years.
Technical Outlook:
- Resistance: $1,800 (50-day EMA). Breakout could target $2,100.
- Support: $1,350 (recent bounce zone).
Altcoin Spotlight: SOL and XRP
Solana (SOL)
- Current Price: $152.30 (+13% weekly).
Key Levels:
- Resistance: $155 (breakout target: $175).
- Support: $120; $95 (long-term low).
XRP
- Catalyst: CME Group launching XRP futures on May 19.
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Weekly Snapshot
| Asset | Price (24 Apr) | Weekly Change | High/Low |
|-------------|----------------|---------------|--------------------|
| BTC | $93,944 | +10.85% | $94,536 / $83,977 |
| ETH | $1,770 | +11.83% | $1,830 / $1,542 |
| SOL | $152.30 | +13.07% | $153.87 / $132.59 |
Key Resistance/Support Levels
| Level | BTC | ETH | SOL |
|-------------|-----------|----------|---------|
| Resistance 2 | $110,000 | $2,150 | $175 |
| Resistance 1 | $100,000 | $1,825 | $155 |
| Support 1 | $90,000 | $1,500 | $120 |
| Support 2 | $73,500 | $1,350 | $95 |
FAQs
Q: Is Bitcoin’s current correction a buying opportunity?
A: Yes, if BTC holds $90,000 support. Historical patterns suggest potential for new highs.
Q: Why is Ethereum seeing record accumulation?
A: Long-term investors are capitalizing on lower prices ahead of anticipated network upgrades.
Q: What’s driving Solana’s resilience?
A: SOL benefits from strong developer activity and institutional interest in high-throughput blockchains.
Q: How do U.S. tariffs impact crypto?
A: Reduced tariffs could boost risk assets like crypto by improving macroeconomic stability.
Final Thoughts
While short-term volatility persists, Bitcoin’s supply-in-profit metric and Ethereum’s accumulation trends signal long-term bullishness. Traders should watch key technical levels and macroeconomic developments for directional cues.
Disclaimer: Crypto investments carry risks. Conduct independent research before trading.