Crypto News
Web3 games with one wallet still the vision for players — The Sandbox
Wallet interoperability still remains the vision for Web3 gaming, according to Arthur Madrid, the co-founder and CEO of the decentralized metaverse and gaming platform The Sandbox. In an exclusive interview with Cointelegraph at the Crypto Polo event in Dubai, Madrid and his fellow The Sandbox co-founder and chief operating officer, Sebastien Borget, told Cointelegraph that Web3 gaming interoperability remains the goal for The Sandbox. Madrid said: “So, the vision is still kind of obvious for us. It’s like you need to be able to play any games using one wallet that will enable you to combine the utilities of all that you collected and all what you earned.”The Sandbox CEO said that one of the main narratives they’ve seen in the last couple of months is that players can move from one game to another using a single wallet. The executive told Cointelegraph that players accessing games with one wallet and using their items on different platforms remains an exciting topic for Web3 gaming enthusiasts. The Sandbox co-founders at the Crypto Polo event in Dubai. Source: CointelegraphWeb3 gaming still “booming” as tools become accessibleMadrid added that despite a market slowdown, the Web3 gaming space is still booming. The executive told Cointelegraph that the tools and infrastructure needed to create new games have become more accessible. “I can feel that the tools you need to create games are becoming more accessible. If you look the number of games that have been created on gaming platforms over the last two years, it's still booming,” Madrid told Cointelegraph. The executive also said that a new generation of programmers and programming tools is working on new types of gameplay. Madrid added that the space needs only one good game that could serve as the catalyst for the broader adoption of Web3 technology in gaming. “The thing is, you always need this moment where one game is making a difference. You have this moment of rebirth,” Madrid said. Related: Nike sued for $5 million over its shutdown of NFT platform RTFKTThe Sandbox co-founder highlights a shift in NFT utilityBorget told Cointelegraph that the non-fungible token (NFT) space is now seeing a shift in focus. The executive said that their team is seeing more maturity in the industry as it shifted from using NFTs to do fundraising and just profile pictures to better use cases. Borget said this was driven by consumers demanding more use for their digital assets. The executive said that creators and developers must focus on adding more value to their NFTs to keep up with this demand. “At The Sandbox, we still continue to see more demand for our virtual land, avatars and other NFT collections, such as Jurassic World, because they can be used across the game right away,” Borget said.Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race
Published Date: 2025-04-28 11:40:12Creator: Cointelegraph by Ezra Reguerra
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Stacks Asia bets big on Middle East Bitcoin boom with Abu Dhabi partnership
The Stacks Asia DLT Foundation has become the first Bitcoin-based organization to establish an official presence in the Middle East, aiming to promote institutional Bitcoin adoption through expanded educational initiatives.Stacks Asia has partnered with the Abu Dhabi Global Market (ADGM) — one of the world’s fastest-growing financial centers — in a move that could boost the adoption of its Bitcoin (BTC) layer-2 (L2) solution in the Middle East and Asia.The new partnership will play a “pivotal role” in shaping the future of Bitcoin’s “programmability and adoption” in these regions through educational programs and support for Bitcoin builders, according to an April 28 announcement shared with Cointelegraph.Through the collaboration, Stacks and the ADGM aim to make it easier for institutions and investors to participate in the growing Bitcoin economy and help set “new standards for regulatory clarity and technical growth” for the rising global Bitcoin capital, according to Kyle Ellicott, executive director at Stacks Asia DLT Foundation.Stacks Asia DLT partners with ADGM. Source: Stacks Asia DLT FoundationRelated: Crypto options desk QCP Capital wins Abu Dhabi license: Report“Stacks and ADGM are a powerful combination for accelerating Bitcoin adoption across the Middle East and Asia,” Ellicott told Cointelegraph, adding:“ADGM has established itself as a world-class global financial hub at the heart of the United Arab Emirates, known as the ‘Capitol of Capital,’ where capital and innovation are brought together to shape the future financial landscape.”“We’ll be working to enable the launch of educational programs, regional developer communities, and create opportunities for the real-world adoption of Bitcoin-powered applications,” he said.Starting in May, the foundation will host a series of live and virtual events to “empower institutions” with the knowledge to integrate Bitcoin into their operations and learn about the “opportunity of productive Bitcoin capital,” Ellicott added.Related: Nomura crypto arm Laser Digital bags Abu Dhabi licenseStacks Foundation pushing for a “progressive” regulatory environment worldwideAs the leading Bitcoin scalability solution, Stacks is also pushing for progressive global regulations that will cement Bitcoin’s role in the future of the financial landscape.“We’re not just focused locally — our team is engaged in global conversations, advocating for frameworks that balance decentralization, security, innovation, and compliance surrounding the unlocking of Bitcoin capital,” Ellicott said.A key part of the strategy involves knowledge sharing with local regulatory bodies to build understanding among government officials about Bitcoin’s characteristics and potential economic impact.The foundation is also developing the Bitcoin Capital Activation Framework, described as a comprehensive policy blueprint to help regulators enable Bitcoin utility in their jurisdictions.The Stacks Foundation will also launch the Bitcoin Policy Bridge in May, a working group uniting regulators from all key jurisdictions across the Middle East and Asia.In February, ADGM signed a memorandum of understanding with the Solana Foundation to advance the development of distributed ledger technology.Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19
Published Date: 2025-04-28 11:05:00Creator: Cointelegraph by Zoltan Vardai
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Why is XRP price up today?
Key takeaways:XRP futures ETF approval fuels bullish momentum ahead of April 30 potential launch.Whales are stacking XRP despite recent sharp corrections.A technical breakout hints at a potential 55% rally toward $3.63.XRP (XRP) rose by nearly 5% to hit an intraday high of $2.36 on April 28, extending a three-week rebound that has lifted its price by over 46%.XRP/USD daily price chart. Source: TradingViewProShares’ XRP futures ETF buzz boosts priceXRP’s price rise today follows a fundamental boost from the potential launch of three XRP-based futures exchange-traded funds (ETFs) by ProShares.The ETFs—ProShares XRP Strategy ETF, ProShares Short XRP Strategy ETF, and ProShares XRP Blend Strategy ETF—will likely go live on April 30, offering investors indirect exposure to XRP market.Source: Vincent Van CodeLast week, CME Group announced the addition of XRP futures to its US derivatives exchange, with trading set to begin next month alongside new BTC, ETH, and SOL contracts.Progress on a spot XRP ETF remains stalled, however. The SEC has acknowledged multiple spot XRP ETF applications, but none have been approved yet. Grayscale’s application faces a critical decision deadline on May 22.“The real catalyst will come when a Spot XRP ETF gets approved,” argues market analyst John Squire, noting that a futures ETF won’t lead to “real market impact.”XRP whales are on the riseThe number of XRP addresses holding at least 10,000 tokens has continued to rise, especially during its 30% price correction from the January’s top of $3.40, according to Glassnode data.XRP address count holding over 10,000 tokens. Source: GlassnodeThis steady accumulation by larger holders suggests growing confidence in XRP’s long-term upside prospects.It also indicates that selling pressure remains limited even during market pullbacks, providing a strong foundation for continued upside.XRP price: falling wedge breakoutXRP rally is part of what appears to be a falling wedge breakout, confirmed by the price breaking above the bullish reversal pattern’s upper trendline with a slight increase in volumes.XRP/USD three-day price chart. Source: TradingViewThe breakout target, determined by measuring the maximum wedge height and adding it to the breakout point, stands near $3.63, a 55% gain from current price levels.The price now holding above the 50-3D exponential moving average (50-3D EMA; the red wave)—a historical support level—is furthering the wedge’s potential of reaching its $3.63 target.Related: XRP futures open interest surges by 32% — Are traders bullish or bearish?XRP’s relative strength index (RSI) is neutral with a reading between 30 and 70, suggesting the price has adequate room to grow.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-04-28 10:48:27Creator: Cointelegraph by Yashu Gola
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Crypto ETPs hit 3rd-largest inflows on record at $3.4B — CoinShares
Cryptocurrency exchange-traded products (ETPs) bounced back with their third-largest inflows on record last week, according to CoinShares.Global crypto ETPs collectively posted $3.4 billion of inflows in the trading week of April 21–25, marking the highest level since December 2024, CoinShares reported on April 28.The inflows were just 13% below the all-time high of $3.85 billion seen in the trading week of Dec. 2–6, 2024, CoinShares previously reported.Renewed investment interest in crypto ETPs came as Bitcoin (BTC) broke back above $90,000 last week for the first time since briefly retesting the price mark in early March, according to CoinGecko.Bitcoin ETFs lead as price consolidates above $90,000Bitcoin was the primary winner among crypto ETPs last week, with investors pouring as much as $3.18 billion into BTC ETPs.The fresh inflows covered all the previous outflows seen since the beginning of April, with year-to-date (YTD) inflows extending to $3.7 billion.Flows by asset (in millions of US dollars). Source: CoinSharesBitcoin ETP’s assets under management (AUM) have reached $132 billion, while total AUM surged to $151.6 billion.Solana was the only loserBullish sentiment was seen in all crypto ETPs except for Solana (SOL), with Solana-based investment products seeing $5.7 million of outflows last week.Meanwhile, Ether (ETH), the second-largest cryptocurrency by market cap, saw $183 million inflows in the past trading week, breaking an eight-week streak of outflows.Related: Solana's Loopscale pauses lending after $5.8M hackOther notable gainers among altcoins were Sui (SUI) and XRP (XRP), which saw $20.7 million and $31.6 million of inflows, respectively.All issuers see healthy inflowsThe fresh crypto ETP flows were distributed across all major issuers, including those in the United States and Europe.BlackRock’s iShares ETFs saw the largest inflows last week at $1.5 billion, with ARK and Fidelity following at $621 million and $574 million, respectively.Flows by issuer (in millions of US dollars). Source: CoinSharesDespite significant inflows, some issuers continue to see outflows month-to-date, or since April 1. Among those issuers are Grayscale with $84 million in outflows, ProShares with $18 million in outflows, and CoinShares with $7 million in outflows.Reasons for the spikeThe latest inflows mark a notable trend reversal in crypto ETPs as the majority of issuers were seeing massive YTD inflows in the previous week, following a series of outflows in 2025.According to CoinShares’ James Butterfill, the new inflows likely came from concerns over the tariff impact on corporate earnings as well as a notable weakening of the US dollar, fueling demand for safe-haven assets.The inflows also came as gold prices saw a notable decline last week after breaking new highs at nearly $3,500 on April 22, dropping to as low as $3,275 on April 23, according to TradingView.Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race
Published Date: 2025-04-28 10:32:11Creator: Cointelegraph by Helen Partz
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Nike sued for $5 million over its shutdown of NFT platform RTFKT
Nike has been hit with a class-action lawsuit that accuses the sportswear giant of operating a rug pull for shuttering its non-fungible token (NFT) platform RTFKT in January. A group of RTFKT users led by Jagdeep Cheema claimed in the proposed class suit filed in a Brooklyn federal court on April 25 that they suffered “significant damages” as a result of Nike touting its sneaker-themed NFTs to gain investors, then shuttering the platform.The suit claimed the NFTs were unregistered securities, as Nike sold them without registering with the Securities and Exchange Commission. It accused the company of using “its iconic brand and marketing prowess to hype, promote, and prop up the unregistered securities that RTFKT sold.”“Because the Nike NFTs derived their value from the success of a given promoter and project — here, Nike and its marketing efforts — investors purchased this digital asset with the hope that its value would increase in the future as the project grows in popularity based on the Nike brand,” the lawsuit argued.The class suit claimed investors suffered damages due to Nike shutting its NFT platform. Source: CourtListenerThe lawsuit asks for $5 million in damages, claiming Nike broke consumer protection laws and violated various state unfair trade and competition laws.A US court hasn’t definitively ruled on whether NFTs are securities. Still, in an April 9 letter to the SEC, marketplace OpenSea urged the regulator to exclude NFTs from federal securities laws, arguing they don’t meet the legal definition of a security. In its case against Nike, the class group said that the court doesn’t necessarily need to rule on the legal status of NFTs to address the complaint.NFT market value dips In 2021, Nike acquired the NFT firm RTFKT Studios, which created virtual sneakers. According to the complaint, holders of the resulting Nike NFTs were told the tokens could be traded peer-to-peer on the secondary market and used to complete challenges and quests that could lead to rewards.Nike’s crypto kick NFT collection was changing hands for an average of 3.5 Ether (ETH), or around $8,000 when they were first listed on April 18, 2022, but were trading for around 0.009 Ether, or roughly $16 as of April 21, according to OpenSea. Nike NFTs have seen a sharp drop in value since they were first listed. Source: OpenSeaNike shut down RTFKT in January, which the class suit claims decimated investors when “prices plunged and did not recover,” and also took away the chance to take part in the challenges and quests, which the group argued was a primary reason for purchasing the tokens. Related: RTFKT’s CloneX avatars reappear after issue blacks out NFTsThe overall NFT market dropped sharply in the first quarter of 2025, with sales plunging 63% year-over-year, to $1.5 billion in total sales from January to March 2025, down from $4.1 billion during the same period in 2024.Nike did not immediately respond to a request for comment. Magazine: Financial nihilism in crypto is over — It’s time to dream big again
Published Date: 2025-04-28 02:40:53Creator: Cointelegraph by Stephen Katte
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Researcher proposes scaling Ethereum gas limit by 100x over 4 years
The Ethereum mainnet’s gas limit could theoretically grow 100-fold and reach 2,000 transactions per second under a new Ethereum Improvement Proposal (EIP) put forward by Ethereum Foundation researcher Dankrad Feist.Feist, who had the blockchain’s “danksharding” data storage solution named after him, put forward EIP-9698 on April 27, which would introduce a “deterministic gas limit growth schedule” starting at epoch 369017, or around June 1.The proposal would gradually increase the gas limit by a factor of 10 for roughly two years, or 164,250 epochs, when one final tenfold increase would occur.Ethereum clients would need to vote on the proposal for it to take effect, Feist said.“By introducing a predictable exponential growth pattern as a client default, this EIP encourages a sustainable and transparent gas limit trajectory, aligned with expected advancements in hardware and protocol efficiency,” he added.As Ethereum can occasionally reach up to 20 TPS in blocks dominated by simple transactions, a 100x gas limit increase could theoretically increase Ethereum’s TPS to 2,000. Feist’s proposal would better position Ethereum to compete with the likes of Solana, which currently processes a non-vote TPS between 800 to 1,050 and has a theoretical TPS of 65,000.Source: Fabda.ethThe EIP would expand the current gas limit of 36 million to 3.6 billion, potentially allowing around 6,000 transactions to fit into Ethereum blocks.Feist’s proposal comes after Ethereum validators agreed to raise the gas limit from 30 million to 36 million in February.Before that, the last change to Ethereum’s gas limit occurred in August 2021 under the London hard fork, where the figure was roughly doubled from 15 million to 30 million.Daily change in Ethereum Average Gas Limit over the last five years. Source: YChartsFeist acknowledged that a rapid increase in the gas limit under his proposal may stress less-optimized nodes and increase block propagation times. “However, the exponential schedule with very gradual increments per epoch gives node operators and developers ample time to adapt and optimize,” he said.Related: Ethereum community members propose new fee structure for the app layerEIP-9698 marks the Ethereum community’s latest effort to boost scalability at the base layer after predominantly focusing on scaling through layer 2 solutions in recent years.Critics of Ethereum’s layer-2 focused strategy claim that it has fragmented the ecosystem into several siloed chains with little interoperability, leading to a worse user experience.EIP-9678 looks to increase gas limitEthereum developers are also looking to test a fourfold increase of Ethereum’s gas limit in the Fusaka hard fork under EIP-9678.Fusaka has been flagged as possibly going online in late 2025, while the next major Ethereum upgrade, Pectra, is scheduled to go live on the mainnet in May.Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race
Published Date: 2025-04-28 02:31:09Creator: Cointelegraph by Brayden Lindrea
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New Bitcoin price all-time highs could occur in May — Here is why
Key takeaways:Heavy liquidations played a role in Bitcoin’s return to $95,000.Bitcoin’s weakening correlation with stocks highlights its growing independence as an asset.Bullish institutional investor positioning contrasts with retail traders’ caution, supporting a rally above $100,000.Bitcoin (BTC) gained 11% between April 20 and April 26, demonstrating resilience by holding near its two-month high around $94,000. This relief rally followed signals from the Trump administration about easing import tariffs, as well as strong corporate earnings reports.Investor confidence in Bitcoin was further boosted by a record $3.1 billion in net inflows to spot Bitcoin exchange-traded funds (ETFs) over five days. However, a key BTC derivatives indicator showed signs of bearish momentum, raising questions about whether the $100,000 target is still realistic.Perpetual Bitcoin futures contracts are favored by retail traders because their prices closely track the spot market. A positive funding rate means that buyers pay to maintain their positions, so a reversal in this rate is typically linked to bearish trends.Bitcoin perpetual futures annualized funding rate. Source: Laevitas.chThe sharp negative funding rates recorded on April 26 are highly unusual during bull markets, as they indicate stronger demand from sellers. This metric has been volatile since April 14, but sellers were caught off guard as Bitcoin’s price climbed above $94,000. Since April 21, over $450 million in BTC short positions have been liquidated.Some of the renewed confidence and Bitcoin’s price strength can be attributed to the S&P 500’s 7.1% weekly gain. However, despite this optimism, US President Donald Trump reportedly said on April 25 that negotiations would depend on China making concessions, causing traders to question the sustainability of recent gains.Companies are now reporting first-quarter earnings from before the escalation of the trade war, so the factors driving the stock market and Bitcoin are different. In fact, Bitcoin’s price is no longer closely correlated with the S&P 500.30-day correlation: S&P 500 vs Bitcoin/USD. Source: TradingView / CointelegraphCurrently, the 30-day correlation between the S&P 500 and Bitcoin stands at 29%, well below the 60% level seen from March to mid-April. While this lower correlation does not mean a complete decoupling, since investor sentiment is still influenced by macroeconomic factors, it does show that Bitcoin is not simply a proxy for technology stocks.Bitcoin’s status as an independent asset has strengthenedGold’s inability to maintain its bullish momentum after reaching an all-time high of $3,500 on April 22 was also seen as significant for Bitcoin’s status as an independent asset class. Some traders had questioned the “digital gold” narrative, but the longer BTC remains above $90,000, the more confidence investors may have, potentially paving the way for further gains.The increased demand for bearish leverage in perpetual BTC futures does not align with the sentiment of professional traders. Monthly Bitcoin futures contracts avoid fluctuating funding rates, so traders know their leverage costs in advance.Bitcoin 2-month futures annualized premium. Source: Laevitas.chOn April 26, the two-month Bitcoin futures premium (basis rate) rose to its highest level in seven weeks, indicating greater interest in bullish positions. At 6.5%, this metric remains within the neutral 5% to 10% range, but is moving away from bearish territory.The disconnect between leverage demand in perpetual futures and monthly BTC contracts is not unusual. Even if retail traders remain cautious, substantial accumulation by institutions could be enough to push Bitcoin’s price above $100,000 in the near future.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published Date: 2025-04-28 00:11:54Creator: Cointelegraph by Marcel Pechman
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Norway’s sovereign wealth fund lost $40B in Q1— Will it hedge risk by increasing Bitcoin exposure?
Key takeaways: Norges Bank lost $40 billion in Q1 2025 as US tech stocks fell, exposing the risk of concentrated positions.The bank’s indirect Bitcoin exposure via stocks reached $356 million, raising sell pressure risk amid a global trade war and recession concerns.Abu Dhabi’s $437 million spot Bitcoin ETF stake shows sovereign wealth funds see Bitcoin as a hedge.Norges Bank, Norway’s $1.7 trillion sovereign wealth fund, reported a $40 billion loss in the first quarter of 2025, with most of the decline caused by a drop in the value of US-listed technology companies. Norges Bank also indirectly owned 3,821 BTC through its stock market investments by the end of 2024, presenting a potential sell pressure risk to Bitcoin, especially when considering the socio-political uncertainty and the risk of an economic recession caused by the global trade war.In such times, could Norges Bank increase its investments in Bitcoin-related companies or even buy spot Bitcoin exchange-traded funds (ETFs) as a way to hedge risk?For now, it seems unlikely that Norway’s investment fund would consider buying a Bitcoin ETF, especially since the fund does not hold any gold. Besides stocks and bonds, Norges Bank invests in real estate, including retail, industrial, renewable energy, and logistics properties worldwide.Norway sold all of the central bank’s gold by early 2004, when gold was trading below $400. Since then, gold has outperformed the S&P 500 by 280%. Equities now make up 71.4% of the fund’s total investments, so if the global trade war continues, significant losses could occur.Gold/USD (orange) vs. S&P 500. Source: TradingView / CointelegraphNorges Bank investments generated $222 billion in profits in 2024, and its stock market portfolio dropped by only 1.6% in the first quarter of 2025. Norway’s sovereign wealth fund is “mainly index-driven,” according to CEO Nicolai Tangen, specifically following the FTSE Global All Cap Index.Although this index includes over 7,100 stocks from both developed and emerging markets, it is based on market capitalization, which means 65% of the exposure is to North American companies. But, according to Norges Bank Deputy CEO Trond Grande, there is some flexibility for active investment, and their exposure to US-listed tech stocks has been below the benchmark for the past 18 months.Some of these holdings, such as Strategy, Mara Holdings, Coinbase, and Riot Platforms, hold large amounts of Bitcoin (BTC) on their balance sheets. As a result, even if not intentional, the sovereign wealth fund had a $356 million indirect exposure to Bitcoin at the end of 2024.FTSE Global All Cap (purple) vs. FTSE + 10% Bitcoin (green). Source: TradingView / CointelegraphData shows a 5% hypothetical allocation in Bitcoin back in 2018 would have boosted the fund’s equities benchmark performance by 56%.Buying Bitcoin ETFs seems unlikely, but indirect exposure remains possibleTechnically, it seems unlikely that Norges Bank could buy into the spot Bitcoin ETF without changing the fund’s mandate. However, increasing exposure to companies with significant Bitcoin holdings appears possible. Still, there is no sign of such a move, although Nicolai Tangen stated on April 24 that the fund will increase investments in US stocks.Related: China may shift from US Treasurys toward gold, crypto — BlackRock execThe fact that Mubadala Investments, one of Abu Dhabi’s sovereign wealth funds, held a $437 million stake in BlackRock’s iShares Bitcoin ETF (IBIT) helps build a case for such investment. Similarly, the State of Wisconsin Investment Board held $321 million in spot Bitcoin ETFs, showing the growing use of cryptocurrency as a hedge.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published Date: 2025-04-27 23:15:00Creator: Cointelegraph by Marcel Pechman
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Bitcoin price chart looks set for $100K, SUI, AVAX, TRUMP and TAO expected to follow
Key points:Bitcoin booked a 10% gain in the past week and technical indicators remain bullish going into a new week.Analysts expect Bitcoin to gain an additional 40% by the end of the yearSelect altcoins are showing a positive bias on improving crypto sentiment.Bitcoin (BTC) rose more than 10% this week as buyers made a strong comeback, pushing the price to the overhead resistance at $95,000. Although buyers are struggling to clear the overhead hurdle, a positive sign is that they have not given up much ground to the bears.The sharp up move is backed by solid buying in the US spot Bitcoin exchange-traded funds (ETFs), which witnessed inflows of $3.06 billion, according to Farside Investors data. Bloomberg ETF analyst Eric Balchunas said in a post on X that it was really notable to see “HOW FAST the flows can go from 1st gear to 5th gear.”Crypto market data daily view. Source: Coin360After Bitcoin’s recovery, 21st Capital co-founder Sina said in a post on X that Bitcoin reclaimed the power-law price. Sina’s Bitcoin Quantile Model projects Bitcoin to reach between $130,000 and $163,000 before the end of 2025. Anonymous Bitcoin analyst apsk32 had an even bigger target of more than $200,000 for Bitcoin in Q4 of this year.Could Bitcoin maintain its momentum and rise above the overhead resistance? Let’s study the charts of the cryptocurrencies that look strong in the near term.Bitcoin price predictionBitcoin has been witnessing a tough battle between the bulls and the bears near the crucial $95,000 level.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day exponential moving average ($88,619) and the relative strength index (RSI) near the overbought zone indicate that bulls are in command. A close above $95,000 could propel the BTC/USDT pair to $100,000 and eventually to $107,000. Sellers are expected to aggressively defend the zone between $107,000 and $109,588.The 20-day EMA is the critical near-term support to watch out for because a break below it brings the large $95,000 to $73,777 range into play.BTC/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe 4-hour chart shows the bears are fiercely defending the $95,000 level but are struggling to sink the pair below the 20-EMA. If the price rebounds off the 20-EMA, it enhances the prospects of a break above $95,000. The pair could then surge to $100,000.Instead, if the price maintains below the 20-EMA, the pair could tumble to the 50-simple moving average. This is an important level for the bulls to defend because a break below it could pull the pair to $86,000.Sui price predictionSui (SUI) has been facing resistance near $3.90, but the shallow pullback suggests that the bulls are in no hurry to dump their positions.SUI/USDT daily chart. Source: Cointelegraph/TradingViewIf the price stays above the 38.2% Fibonacci retracement level of $3.14, the bulls will make another attempt to shove the SUI/USDT pair above $3.90. If they can pull it off, the pair may skyrocket to $4.25 and then to $5.Contrary to this assumption, if the price turns down and breaks below $3.14, it signals the start of a deeper correction toward the 50% retracement level of $2.94. Buyers are expected to fiercely defend the zone between $2.94 and the 20-day EMA ($2.69).SUI/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe 4-hour chart shows that the pair is finding support at the 20-EMA, but the sellers are active at higher levels. The bears will again attempt to sink the pair below the 20-EMA. If they succeed, the pair could slump to $3.14.Buyers will have to swiftly push the price above the $3.81 to $3.90 overhead resistance zone if they want to retain the advantage. If they do that, the pair could start the next leg of the up move to $4.25.Avalanche price predictionAvalanche (AVAX) has been range-bound between $23.50 and $15.27 for the past few days. In a range, traders usually buy near the support and sell close to the resistance.AVAX/USDT daily chart. Source: Cointelegraph/TradingViewAlthough buyers have failed to push the price above $23.50, a positive sign is that they have not ceded much ground to the bears. That increases the likelihood of a break above $23.50. If that happens, the AVAX/USDT pair will complete a double-bottom pattern, which has a target objective of $31.73.This optimistic view will be negated in the near term if the price turns down and breaks below the moving averages. The pair may then remain stuck inside the range for a few more days.AVAX/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair has been consolidating in a narrow range between $21.60 and $23.10 for some time. That suggests the bulls are holding on to their positions as they anticipate another leg higher. If buyers propel the price above $23.10, the pair could surge to $25. There is resistance at $23.50, but it is likely to be crossed.Alternatively, a drop below $21.60 signals that the bulls have given up. That may pull the price down to $19.50.Related: Bitcoin trades at ‘40% discount’ as spot BTC ETF buying soars to $3B in one weekOfficial Trump price predictionOfficial Trump (TRUMP) surged above the $12.45 resistance on April 23 and held the retest of the breakout level on April 24.TRUMP/USDT daily chart. Source: Cointelegraph/TradingViewA rally above $16 is attracting sellers, but a shallow pullback suggests that every minor dip is being purchased. If buyers drive the price above $16, the TRUMP/USDT pair may reach $17.69, where the bears are expected to mount a strong defense. However, if buyers bulldoze their way through, the pair could skyrocket to $19.60 and then to $22.40.Conversely, a deeper pullback suggests that the short-term bulls are booking profits. The zone between $11.56 and $12.45 is expected to act as a solid support. If the price rebounds off the support zone, the pair may swing between $11.56 and $16 for some time. Selling could accelerate if the pair breaks below the 20-day EMA ($10.73).TRUMP/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair turned down from $16 but is finding support near the 20-EMA on the 4-hour chart. That suggests the bulls are active at lower levels. Buyers will try to push the price above the $16 overhead resistance, starting the next leg of the uptrend.Contrarily, a break and close below the 20-EMA suggests that the bullish momentum has weakened. The pair may then slump to $14 and later to the solid support near $12. Sellers will be back in the driver’s seat on a drop below $11.50.Bittensor price predictionBittensor (TAO) broke and closed above the downtrend line on April 20, suggesting that the bears are losing their grip.TAO/USDT daily chart. Source: Cointelegraph/TradingViewThe up move is facing resistance at $375, but the pullback is expected to find support at the 20-day EMA ($298). A solid bounce off the 20-day EMA signals a change in sentiment from selling on rallies to buying on dips. The bulls will then attempt to drive the TAO/USDT pair above $375. If they succeed, the next stop may be $495.Contrary to this assumption, if the price turns down and breaks below the downtrend line, it will indicate that the markets have rejected the breakout. The pair then risks falling to $222.TAO/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pullback is finding support at the 20-EMA on the 4-hour chart. Buyers will try to resume the up move by pushing the price above the $375 resistance. If they manage to do that, the pair could reach $425.Sellers are likely to have other plans. They will try to sink the price below the 20-EMA, opening the doors for a drop to the 50-SMA and later to the downtrend line. A break below the downtrend line tilts the advantage in favor of the bears.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-04-27 21:57:50Creator: Cointelegraph by Rakesh Upadhyay
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'Strategy is synthetically halving Bitcoin' — Author and analyst
Michael Saylor's Strategy is "synthetically halving Bitcoin" (BTC) by purchasing half or more of the newly minted supply from miners every single month, according to Adam Livingston, a BTC analyst and author of "The Bitcoin Age and The Great Harvest."Livingston said miners currently produce around 450 BTC per day or approximately 13,500 BTC per month, but Strategy acquired 379,800 BTC in the last six months. This translates to the firm purchasing roughly 2,087 BTC per day — far in excess of daily miner output. The author added:"When Bitcoin becomes this scarce, access to Bitcoin will require paying a premium. Lending against Bitcoin will cost more. Borrowing Bitcoin will become a luxury business reserved for nation-states and corporate whales, and Strategy will control the bottleneck.""BTC's global cost of capital will no longer be set by 'the market.' It will be set by the gravitational policies of the first Bitcoin superpower: Strategy," Livingston continued.The author's prediction of a Bitcoin supply crunch translates into much higher BTC prices if Strategy can continue its pace of BTC acquisitions while market demand for the supply-capped digital asset grows among institutional and retail investors.The Bitcoin miner reserve, a metric tracking the total amount of BTC held in miner wallets, continues to decline. Source: CryptoQuantRelated: Michael Saylor hints at Bitcoin purchase as whales stack aggressivelyInstitutions like Strategy are driving the world toward hyperbitcoinizationCypherpunk and Blockstream CEO Adam Back predicted that Strategy and other institutions that have adopted a Bitcoin corporate treasury plan will drive the market capitalization of BTC to $200 trillion."Strategy and other treasury companies are an arbitrage of the dislocation between the Bitcoin future and today's fiat world," Back wrote in an April 26 X post.Critics of the company warn that the debt-based approach to BTC acquisition could sink Strategy financially if a prolonged BTC bear market takes effect and also warn of greater systemic risks to BTC from such a high concentration of the digital currency held by a single entity.An overview of Strategy’s Bitcoin investment performance. Source: Michael SaylorHowever, Bitcoin advocate and author Saifedean Ammous recently said that Strategy's concentration of BTC doesn't threaten the protocol.Ammous argued that institutions like BlackRock and Strategy holding high concentrations of BTC could not engineer a hard fork increasing Bitcoin's maximum supply, as it would massively devalue their holdings, which, at the end of the day, belong to shareholders with the power to divest.Magazine: Bitcoin in Senegal: Why is this African country using BTC?
Published Date: 2025-04-27 21:53:29Creator: Cointelegraph by Vince Quill
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