Crypto market sees liquidation worth $600M as Bitcoin surpasses $93K, fuelled by easing trade war anxieties.
Hey there! Let's dive into the latest happenings in the crypto world, shall we?
After a seven-week lull, Bitcoin has finally breached the $93,000 mark, causing a wave of optimism among investors. Currently, Bitcoin is trading at $93,069, with Ethereum at $1,768 and Solana at $149. The overall crypto market capitalization stands at around $3 trillion, reflecting a 4% surge.
Interestingly, more than $600 million was liquidated from the market in the last 24 hours, indicating a rise in leveraged bets. Open interest has also increased by 14% to $121.6 billion. Despite this, the Altcoin Season Index, currently at 16, suggests that we're still in the Bitcoin zone.
U.S. Bitcoin Exchange Traded Funds reported three consecutive days of inflows, with net inflows hitting $936 million on Apr. 22. This was the highest daily total since Donald Trump took office earlier this year.
The recent surge in crypto prices might be linked to a potential cooling of the U.S.-China trade war. At a recent press conference, President Trump softened his stance on tariffs and indicated no intention of removing Federal Reserve chairman Jerome Powell. Additionally, Treasury secretary Steve Mnuchin hinted at possible de-escalation in the trade dispute.
However, the correlation between crypto market movements and the U.S.-China trade war remains unclear. While macroeconomic uncertainty tends to drive interest in alternative assets like cryptocurrencies, current crypto rallies appear to be driven more by sector-specific developments rather than geopolitical trade policies.
Now, let's talk about some interesting predictions. Analysts expect Bitcoin to reach $180K, Ethereum to surpass $6K, and Solana to touch $500 by late 2025. These forecasts are based on institutional interest, regulatory shifts, growth in tokenized securities, and technological advancements like Layer-2 solutions and Solana's scalability.
Of course, these predictions come with their own set of risks, including regulatory crackdowns, volatility, network congestion, gas fees, network outages, and competition. So, as always, invest wisely!
- The current Bitcoin trading price is $93,069, while Ethereum is at $1,768 and Solana stands at $149.
- The overall crypto market capitalization has surged by 4%, reflecting around $3 trillion.
- More than $600 million was liquidated from the market in the last 24 hours, indicating a rise in leveraged bets.
- Open interest has increased by 14% to $121.6 billion.
- Despite this, the Altcoin Season Index, currently at 16, suggests that we're still in the Bitcoin zone.
- U.S. Bitcoin Exchange Traded Funds reported three consecutive days of inflows, with net inflows hitting $936 million on Apr. 22.
- The recent surge in crypto prices might be linked to a potential cooling of the U.S.-China trade war.
- Analysts expect Bitcoin to reach $180K, Ethereum to surpass $6K, and Solana to touch $500 by late 2025.
- These forecasts are based on institutional interest, regulatory shifts, growth in tokenized securities, and technological advancements like Layer-2 solutions and Solana's scalability.
