Crypto Market Sees Slight Decline as BTC Remains Around $95,000
Cryptocurrencies experienced a slight decline, with the CoinDesk 20 index down 1.4%. Bitcoin is stable around $95,000, showing a monthly increase of 15% for April, the highest since November.
Market sentiment remains mixed due to:
- Pessimism regarding President Trump's tariffs impacting global trade.
- Optimism about potential Federal Reserve interest rate cuts.
Major companies like P&G and American Airlines have lowered earnings forecasts, reflecting weakening consumption and investment. French GDP data indicated growth driven by inventory rather than consumption.
Upcoming U.S. GDP data may indicate a contraction, contrasting with Bitcoin's performance amid market uncertainty, suggesting its role as a hedge against volatility.
What to Watch
- April 30: ProShares will launch three XRP ETFs.
- May 1: Coinbase Asset Management to introduce the Coinbase Bitcoin Yield Fund.
- May 5: IOTA’s network upgrade to boost transaction capacity.
- May 5: THORChain to activate v3.5 mainnet upgrade.
Market Movements
- BTC: $94,915.28, down 0.19%
- ETH: $1,805.20, down 0.57%
- CoinDesk 20: 2,751.84, down 0.51%
- DXY: up 0.19% at 99.43
- Gold: down 1.16% at $3,278.15/oz
Technical Analysis
- Potential market pullback expected as liquidity levels are breached.
- Solana shows a strong upward move but faced rejection at the 100-day EMA.
Crypto Equities
- Strategy (MSTR): Closed at $381.45.
- Coinbase Global (COIN): Closed at $206.13.
- Riot Platforms (RIOT): Closed at $7.42.
For spot BTC ETFs, daily net flow was $172.8 million, with cumulative flows reaching $39.16 billion.
While You Were Sleeping
- Telegram plans to tokenize $500 million in debt on the TON blockchain.
- BlackRock seeks to tokenize shares of its $150B Treasury Trust Fund.
- SEC delays decisions on Dogecoin and XRP ETFs until mid-June.