The recent economic indicators have sent shockwaves through Japan’s financial landscape, with the country experiencing severe economic turmoil. Reportedly, Japan’s 40-year bond yield has surged to its highest level in over 20 years, reflecting growing concerns about the country’s fiscal stability. Prime Minister Shigeru Ishiba warned that the country is experiencing a financial crisis “worse than Greece.” Moreover, Japan’s economy contracted by 0.7%, marking its first quarterly decline in a year. The Japanese stock exchange Nikkei 225 also witnessed a sharp sell-off amid economic struggles and the Moody’s downgrading credit rating for the US. These developments are poised to have profound implications on the crypto market as well. After a strong bull run on Sunday pushed Bitcoin (BTC) over $107k, the crypto markets are witnessing a crash today with BTC, ETH, and XRP dropping 3.2%, 4%, and 5%, respectively, in the past 24 hours. While this crash is not directly… Read More at Coingape.com
Ethereum price briefly reclaimed $1,800 on April 23 after a staggering 11% gain within 24 hours as Bitcoin and most altcoins traded higher. These gains wiped out more than $110M in short ETH positions, and as Bitcoin now eyes the psychological level of $100,000, crypto traders are wondering whether ETH will sustain this uptrend and outperform BTC to revisit $2,000 first. Let’s find out.
Ethereum Price Hits 2-Week High as Bitcoin Eyes $100,000
Ethereum price is currently trading at its highest level in two weeks as altcoins track Bitcoin, which recently surged above $90,000 for the first time since early March. At its current price of $93,732, Bitcoin will have to rally by around 7% to reclaim $100,000.
Top analysts forecast that a Bitcoin price rally to $100,000 might just be around the corner. Kyle Chasse notes that if the current uptrend continues with no disruptions, BTC will reach this target price before the end of the week.
Meanwhile, Arthur Hayes recently stated that if Bitcoin extends its rally past $100,000, it will unlock the next altcoin season. In his recent essay, he opined that as Bitcoin’s dominance peaks, it will cause capital rotation from BTC to altcoins.
Therefore, it is clear that a recovery in Bitcoin price will bode well for the largest altcoin, Ethereum, and aid its breakout from the recent bearish trends that have suppressed its performance. However, Bitcoin needs to clear $100,000 first for ETH to reach $2,000.
$2,000 Ethereum Price Within Sight As Whales, Institutions Accumulate
Data from Santiment suggests that whales might be the key driver of the gains in ETH value today to $2,000. In the last 24 hours, large whale addresses holding between 1,000 and 10,000 ETH coins have purchased more than 300,00 tokens, which helped fuel the buying pressure around this altcoin.
Ethereum Whale Balance
Besides whales, institutions also seem to be stockpiling on Ethereum, with data from SoSoValue showing that on April 22, inflows to spot ETH ETFs reached $38M, which is the highest level since February 4, 2025. This supports a bullish Ethereum price prediction, which may help fuel gains past $2,000.
Ethereum Technical Analysis – How High Will ETH Rally?
A popular crypto market analyst believes that $2,000 might not be the only price target for Ethereum, as the altcoin has formed a giant inverse head and shoulders pattern. Usually, this chart indicates that the trend is on the verge of shifting from bearish to bullish.
According to Gert van Lagen, Ethereum’s four-year inverse head and shoulders pattern is in play on the weekly chart. However, for Ethereum to confirm this pattern, it not only needs to flip resistance at $2,000, but also soar past $3,900. This will set the stage for an over 10x rally to $20,000.
ETH/USDT: 1-Week Chart
Therefore, as Bitcoin extends gains towards $100,000 and drags altcoins along, it is likely that the Ethereum price might also break a crucial resistance level of $2,000. Moreover, as whales and institutions accumulate, it supports the bullish thesis for the largest altcoin. A bearish reversal will be confirmed if the uptrend halts and ETH drops below $1,600.
Dogecoin (DOGE) has been experiencing a period of consolidation, but some analysts are predicting a potential price rally to $20. Despite recent challenges in the market, including heightened volatility, some believe that the top meme coin could see significant upward movement soon.
According to crypto analyst Ali charts, the current market structure and on-chain data suggest that a breakout could be imminent, potentially setting the stage for a dramatic rise in Dogecoin price.
Dogecoin Price Market Trend, DOGE Rally Looming?
Dogecoin has remained in a tight consolidation range since March 11, trading between $0.16 and $0.18. This range has become a critical battleground, with investors waiting for clear direction. On-chain data, however, paints a different picture. Over the past week, DOGE whales have accumulated over 120 million Dogecoin, signaling a possible shift in market sentiment.
Despite the sideways movement in price, this accumulation trend suggests that large holders are positioning for a potential price surge. Analysts believe that this increased whale activity could be the foundation for a future rally.
If the meme coin manages to break through the $0.18 resistance zone, it could potentially trigger the next phase of its upward trend. According to some analysts, this could eventually lead to the much-anticipated $20 target, although the timing and specific market conditions remain uncertain.
Fibonacci Levels and Trend Channel Support
Dogecoin price chart shows that the meme coin has established an upward trend. This pattern has been there since early 2015 and has shown long-term sustainability in terms of support. DOGE price is at the mid-market trend at the moment and if the support trend line holds, it can continue an upward movement.
Besides the trend channel, the price of Dogecoin is currently hovering close to the 0.5 Fibonacci level that has served more or less as a support and resistance level. A move above the 0.618 level could signal a bullish continuation, with some analysts like Ali charts predicting a price increase toward higher levels. If this trend holds, the path toward a $20 price target may become more feasible.
Whale Accumulation as a Bullish Signal
On-chain data from analysts such as Ali Martinez highlights the recent surge in DOGE whale activity. Over 120 million Dogecoin has been accumulated in just one week, a sign that large holders are positioning themselves for a potential rally. Whale behavior is a key indicator in predicting future price movements, and this accumulation trend suggests growing confidence in Dogecoin’s prospects.
Many analysts believe that if the price breaks through key resistance levels, such as the $0.18 zone, Dogecoin could see upward movement. The current accumulation of whales is a supportive factor for this potential rally.
Concurrently, another analyst Kevin, according to his forecast, Dogecoin price is currently at a crucial support level, holding around $0.139, which serves as the last line of bull market support. The weekly demand candle from last week signals potential strength, but maintaining this level is key as the 3-day MACD, weekly Stoch RSI, and 2-week Stoch RSI approach full resets.
If the top meme coin loses $0.139 on weekly closes, it could signal downside risk, but the risk-reward ratio remains highly favorable for traders looking to enter. With Bitcoin holding above $70K, this setup suggests Dogecoin price could be gearing up for a strong upside move.
U.S. job openings fell in March to their lowest level since 2020, reinforcing expectations that the Federal Reserve may consider a rate cut later this year.
Job Openings See Lowest Level in Four Years
Ahead of the FOMC meeting in May, data from the U.S. Bureau of Labor Statistics shows job openings dropped by 288,000 in March to 7.192 million. This was below the expected 7.490 million. February’s figure was revised downward to 7.480 million from the initial 7.568 million.
The job openings rate also declined to 4.3% from 4.5% in February. The quits level increased to 3.332 million, with the quits rate rising slightly to 2.1%. Economists often view the quits rate as a measure of worker confidence in the labor market.
Kathy Jones, Chief Fixed Income Strategist at Charles Schwab, stated, “The ratio of job openings to unemployed individuals dropped to 1.0, matching its four-year low.”
Labor Market Cooling but Not Contracting
Layoffs also decreased during March to 1.558 million as compared to the revised 1.780 million in February. The job loss incidence went down to 1.0 % from 1.1%. While employment is declining more slowly, companies are not increasing layoffs, suggesting they aren’t cutting staff aggressively.
This deceleration suggests that Fed Chair Jerome Powell’s decision for a rate cut move may be necessary in case of a deterioration in labor conditions. Moreover, in a press briefing, Treasury Secretary Scott Bessent said the administration is holding talks with several partners and confirmed it plans to use tariff revenue to finance the ITA.
“There is a good chance we will see this in the upcoming tax bill,” he stated.
Some of the changes included repealing taxes on tips, social security income, and overtime pay, and reinstating the tax deductions for interest on automobiles that American manufacturers build. Bessent also stated that these changes could be supported by tariffs that would guarantee stable revenues.
Analysts Raise Odds of Fed Rate Cut in Late 2025
The combination of weak labor market data and soft consumer confidence has led to increased market speculation about a move by Jerome Powell for a Fed rate cut in the coming months. While forecasts show a 91% chance of no rate change in May despite the FOMC meeting, the possibility of cuts later in 2025 rose to 89% according to Polymarket.
Joel Griffith from the Heritage Foundation said, “Slower or even negative growth and higher prices could lead to a shift in Fed policy.”
Ted, a financial analyst, shared a broader outlook tied to potential Federal Reserve rate cuts. He expects “rate cuts and quantitative easing by Q4,” pointing to a supportive economic environment under what he called a “pro-crypto administration.” He cited Donald Trump’s stance on digital assets and Paul Atkins’ appointment as US SEC Chair as policy shifts likely to encourage crypto adoption.
Ted also referenced upcoming approvals of crypto-based ETFs like the XRP ETFs and broader institutional involvement. He said that “global regulatory clarity” may accelerate digital asset growth, particularly if Fed rate cuts begin to ease financial conditions.
