8
Apr, 2025
Bitcoin relief rally fizzles as White House confirms 104% China tariffs — Will BTC fall to new lows?
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
Bitcoin’s surprise rebound to $81,180 — which was influenced by fake news regarding a pause on US tariffs — has all but evaporated following White House confirmation that 104% tariffs on China will start on April 9.
S&P 500 drops intra-day gains follow White House tariff confirmation. Source: X / Kobeissi Letter
After dropping below the $75,000 level for the first time since Nov. 6, 2024, BTC retested a key demand zone that traders hope will provide a safe haven for the bulls.
The safe haven is a fair value gap located between $77,000 and $73,400, and this zone was created during the November 2024 Trump pump.
BTC/USD daily chart. Source: Cointelegraph/TradingView
MN Capital founder Michael van de Poppe had earlier asserted that Bitcoin needed to retest this zone “before going back upward.”
“Bitcoin attacking $80,000 is a strong sign,” said van de Poppe in another X post on April 8, adding:
“I don’t know whether we’ll be having another drop or whether we’ve seen it all.”
BTC/USD daily chart. Source: Michael van de Poppe
Fellow analyst Jelle shared similar sentiments, saying that Bitcoin’s close above $79,000 on April 7 after dropping as low as $74,400 was impressive compared to how equities performed.
“Waiting for the dust to settle – expecting the price to move higher once that happens.”
Related: Bitcoin may rival gold as inflation hedge over next decade — Adam Back
Bitcoin’s long-term holders’ activity spells doom for BTC price
Data from onchain analytics platform CryptoQuant now shows that the long-term holders (LTHs) — individuals and entities who have held Bitcoin for more than 155 days — could be preparing to sell their coins, particularly after the latest crash.
The Exchange Inflow Coin Days Destroyed (CDD) metric measures the volume of Bitcoin moved to exchanges, weighted by how long those coins were held dormant, indicating potential selling pressure from long-term holders.
There was a massive spike in this metric on April 7, signaling that the old coins are waking up, which is historically a bearish sign.
A chart posted by a CryptoQuant contributor, IT Tech, in one of its “Quicktake” blog posts showed that when the metric spiked on April 2, Bitcoin price dropped from $88,000 to $81,000.
A similar spike was seen on March 27, preceding a 7% drop in price over two days.
Spotting a similar spike on April 7, the analyst wondered if Bitcoin’s long-term holders were “preparing to sell again?”
Bitcoin: Exchange Inflow CDD. Source: CryptoQuant
If history repeats itself, Bitcoin’s sell-off could continue for a few more days, with the March 2024 all-time high near $74,000 presenting the first line of defense.
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.
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8
Apr, 2025
Crypto execs expect global banking push into Bitcoin by end of 2025
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
Despite the ongoing market meltdown on US trade tariffs, executives at major cryptocurrency firms Messari and Sygnum are bullish on institutional Bitcoin adoption later in 2025.
Speaking on a panel at Paris Blockchain Week on April 8, Messari CEO Eric Turner and Sygnum Bank co-founder Thomas Eichenberger said they expect a significant shift in the banking sector’s involvement with crypto in the second half of the year.
According to the executives, the global banking push into Bitcoin (BTC) services has great potential to happen in the second half of 2025 as regulators embrace crypto, including stablecoins and crypto services by banks.
“I think we’re probably looking at a muted Q2, but I’m really excited for Q3 and Q4,” Messari’s Turner said during the panel discussion moderated by Cointelegraph CEO Yana Prikhodchenko, forecasting “really interesting” things coming to the crypto market in 2025.
Crypto adoption is not just about Trump
While some investors focus on the pro-crypto stance of US President Donald Trump, Turner emphasized that broader regulatory momentum is what matters most.
“When you look at the potential of having market structure regulation in the US, stablecoin regulation, and just the fact that across the board, not just President Trump himself, but the SEC and all these regulatory industries are really embracing crypto,” Turner said.
Paris Blockchain Week’s panel with Cointelegraph CEO Yana Prikhodchenko, Bancor co-founder Eyal Hertzog, Sygnum co-founder Thomas Eichenberger, Messari CEO Eric Turner, AWS fintech leader Alex Matsuo and Near chief operating officer Chris Donovan. Source: Cointelegraph
Sygnum co-founder Thomas Eichenberger said international banks with US branches are also poised to enter the market once the legal landscape becomes clearer:
“I think it’s a matter of fact that US banks are preparing to be able to offer crypto custody and at least crypto spot trading services anytime soon.”
“I think by then I would agree with you, Eric,” he continued, projecting a continued phase of market uncertainty until the US establishes a clear regulatory framework.
Related: Ripple acquires crypto-friendly prime broker Hidden Road for $1.25B
Banks are no longer afraid of Bitcoin regulators
With the establishment of clear crypto rules for banks in the US, there will be a rush for crypto services by large international banks that are incorporated outside of the US but have a US-based presence, Eichenberger said.
“Some of them may have had their strategic plans in their cupboard to offer crypto-related services, but have been afraid that at some point they will be gone after by any of the US regulatory authorities,” he said, adding:
“Now I think there’s no one to be afraid of anymore in terms of regulatory authorities worldwide. So I think many of the large international banks will launch this year.”
Magazine: Financial nihilism in crypto is over — It’s time to dream big again
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Learn MoreCrypto execs expect global banking push into Bitcoin by end of 2025
8
Apr, 2025
Ethereum Plunges to 2023 Lows as Bearish Momentum Tightens Its Grip
Altcoin News, Bitcoin News, Crypto Industries & Currency Updates
On Monday, ethereum’s value plummeted to its lowest point since March 2023, slipping to $1,409 per token. The past month has proven particularly challenging for the cryptocurrency sector’s second-largest asset by market capitalization, which has contracted by 29.6% over the preceding 30-day period. Ethereum’s BTC Ratio Hits 2020 Low At press time, the broader cryptocurrency […] …
Learn MoreEthereum Plunges to 2023 Lows as Bearish Momentum Tightens Its Grip