Daily News | BTC Is About To Rebound Into The Key Resistance Level, ETH Bullish News Is Coming
Crypto Daily Digest: CEX platform ETH holdings hit a nine-year low, Bloomberg stated that the recent performance of the Altcoin outperformed BTC
According to Farside Investors data, U.S. Bitcoin spot ETFs had a total net inflow of $66.1 million yesterday, of which Fidelity FBTC had an inflow of $82.9 million and Ark ARKB had an outflow of $41 million.
Yesterday, the inflow and outflow of funds in the Ethereum spot ETF were basically negligible.
ETH ushered in a catalyst for growth, and CEX platform ETH holdings hit a nine-year low
The amount of Ether (ETH) held in wallets linked to centralized exchanges has fallen to a nine-year low of 8.97 million, according to data tracked by CryptoRank and Santiment. This is the lowest level since November 2015. The continued outflow of tokens from centralized exchanges could lead to a reduction in the supply of tokens on the market, triggering a price surge. BTC has also shown a similar trend, with a surge in price after exchange holdings hit a seven-year low.
Opinion: Investors can view Bitcoin as a large-cap tech stock, with a high correlation with Nasdaq in the short term
Standard Chartered Bank said that Bitcoin’s correlation with the Nasdaq is generally higher than its correlation with gold, and investors can benefit by treating Bitcoin as a large technology stock.
According to the bank’s data, Bitcoin’s current correlation with the Nasdaq is about 0.5, after being close to 0.8 earlier this year. At the same time, Bitcoin’s correlation with gold has continued to decline since January, hitting zero at one point, and is currently just above 0.2.
Bloomberg: Altcoins outperformed Bitcoin amid broad rally
Altcoins have outperformed Bitcoin amid a broad crypto market rally as signs of more targeted U.S. tariffs dented demand for safe-haven assets, Bloomberg reported.
Market Trends: BTC continued to counterattack and is about to hit the key resistance level
Market Hotspots
DeSci sector tokens rebounded, with BIO up more than 16% in 24 hours, and VITA and YNE up more than 10% in 24 hours;
The UPCX project eco token UPC has risen by more than 10% in 24 hours. UPCX is an open source payment with high traffic support in the payment, Layer2 and RWA sectors. It supports a variety of assets, including NFTs and stablecoins, and provides a user-friendly super payment application.
Mainstream Coins
BTC continued to rise, reaching $88,000 at one point, and then fell to the $87,000 range. Analysts believe that if Bitcoin regains its previous high of $90,000, it will quickly start its journey to a new high. If it fails to rise, it may fall back to the $73,000-$74,000 range.
ETH once broke through the $2,100 mark. Currently, the number of ETH in the wallets linked to centralized exchanges has dropped to the lowest point in 9 years, which may indicate a reduction in the supply of market tokens, providing support for the rebound of the currency price.
Altcoins and meme tokens generally rose. AI concept meme coins and DEX platform tokens rebounded in total market cap. The total market cap of AI concept meme coins rebounded by 13.1% in the past 24 hours and 25.2% in the past week.
Macro News: US stocks surged across the board, giving investors a chance to catch their breath
U.S. stocks surged across the board on Monday, benefiting from the Trump administration’s hint that the tariff policy announced on April 2 will be more “targeted.” Wall Street analysts predict that investors may be about to get a break. Equity strategists from institutions such as JPMorgan Chase, Morgan Stanley and Evercore ISI said that judging from multiple indicators such as investor sentiment, positions, and seasonal factors, the most severe phase of the recent downturn in the U.S. stock market may have passed.
The US service sector PMI rebounded, driving the overall PMI to improve, although the manufacturing industry is still in the contraction range. The good news led to a rise in US stocks across the board, rising US bond yields and a stronger dollar.
