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XRP lawyer Bill Morgan anticipates that Judge Analisa Torres will likely approve the joint motion filed by Ripple and the SEC in the XRP lawsuit. Despite some reservations about the motion’s content, Morgan expressed that he believes the judge will grant it nonetheless, potentially leading to a resolution in the Ripple vs SEC case. Will
The post XRP Lawsuit: Judge Torres Likely To Approve Joint Motion, Says Lawyer appeared first on CoinGape.
Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see what data says about the Bitcoin (BTC) price outlook, alongside insights into the current sentiment in the options market. Remember, this being the last Friday of April, monthly options expired today at 8:00 UTC on Deribit.
During the early hours of the Asian session, over $8 billion worth of Bitcoin and Ethereum options expired. Out of these, BTC options contracts accounted for over $7 billion in notional value.
Interestingly, Bitcoin traded well above its max pain or strike price of $86,000. Ordinarily, as options near expiration, an asset’s price would tend to gravitate toward its max pain level. While Bitcoin traded for $93,471 minutes before the options expiry, it is now selling for $94,581.
BeInCrypto contacted Bitfinex analysts for insights into the current market outlook and their perspective on what lies ahead for the Bitcoin price in the short term. According to the analysts, Bitcoin’s price could record further upside after clearing option-based resistance.
“Post-expiry, the market is leaning cautiously bullish, and with the $90,000 strike cluster now cleared, there’s less option-based resistance overhead,” Bitfinex analysts told BeInCrypto.
Further, the analysts observed that many traders have rolled exposure to higher strikes, with $95,000 and $100,000 showing increased call open interest for end-April and May expiries.
While this reflects the expected continued upside, the analysts did not rule out a potential short-term chop.
This aligns with Deribit analysts’ statements that the highest open interest for BTC options was around the $100,000 strike price. This indicates strong market expectations of Bitcoin reaching this level.
As BeInCrypto reported, the analysts ascribed this to traders selling cash-secured put options on Bitcoin. These traders also use stablecoins to collect premiums while buying BTC at lower prices.
BeInCrypto also reported that the Cumulative delta (CD) across BTC and related ETF (exchange-traded fund) options on Deribit reached $9 billion. Bitfinex analysts agree, citing rising spot flows and ETF demand.
“Spot flows and ETF demand have picked up significantly for BTC over the past few days and will now continue to dictate if BTC can establish $90,000 as support,” the analysts added.
Meanwhile, these forecasts add to the list of growing bullish bets on Bitcoin’s price, credibly confirming a sentiment shared in the previous US Crypto News publication.
However, despite strong prospects for more Bitcoin price gains, some analysts urge investors to temper their optimism. One is Innokenty Isers, the Chief Executive Officer at Paybis Exchange.
“Current market outlook suggests that Bitcoin price may face more stiff resistance moving forward. In the last two months, the uncertainty around the tariff war triggered an unusual concern for investors as many decided to temporarily steer clear of more volatile assets like Bitcoin,” Isers told BeInCrypto.
Moreover, the Federal Reserve (Fed) has spotlighted the inflationary risks the tariff war may introduce. Nevertheless, Isers acknowledged clear indications of sustained accumulation of BTC by institutional investors and market whales.
This chart shows that the top Bitcoin options by trading volume over the past 24 hours are call options with strike prices of $95,000 and $100,000, ahead of the May 2 expiry.
| Company | At the Close of April 24 | Pre-Market Overview |
| Strategy (MSTR) | $350.34 | $348.54 (-0.51%) |
| Coinbase Global (COIN) | $203.87 | $203.80 (-0.03%) |
| Galaxy Digital Holdings (GLXY.TO) | $20.68 | $23.48 (+13.56%) |
| MARA Holdings (MARA) | $14.01 | $13.98 (-0.21%) |
| Riot Platforms (RIOT) | $7.79 | $7.72 (-0.90%) |
| Core Scientific (CORZ) | $7.53 | $7.48 (-0.66%) |
The post Crypto Options Rollover Signals Bullish Tilt Toward $100K Bitcoin Breakout | US Crypto News appeared first on BeInCrypto.
The recent surge in Bitcoin’s (BTC) price has led to a significant change in investor behavior. Long-term holders have started taking profits, causing the market’s realized value to reach a new all-time high. MVRV Ratio Signals Potential Bitcoin Sell-Off Data from Glassnode shows that BTC’s realized cap has surpassed $900 billion for the first time. This peak value indicates that investors are locking in gains after holding onto their assets for many months. Many long-term holders are in a strong profit position following the latest BTC price rally. Also, the market value to realized value (MVRV) ratio has entered what analysts call the “euphoria zone.” The ratio measures whether investors are sitting on unrealized gains, while this zone is a phase where investor profit-taking reaches extreme levels. This ratio is over 3.2 for long-term Bitcoin holders, like Michael Saylor’s Strategy, which just bought 4,020 BTC, suggesting that, on average, their… Read More at Coingape.com
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Cryptocurrency exchange Binance has once again caused a market stir by uncurtaining the 16th project on its HODLer Airdrops platform this Friday. The centralized exchange revealed via an official announcement that it is adding support for Sign (SIGN), a global protocol for credential verification and token distributions. Mentioned below are some of the key details for this token airdrop that users should know. Whilst the exchange has also revealed a listing for the same, igniting a market buzz.
An official Binance press release dated April 25 revealed that the CEX giant is extending support for the SIGN airdrop. Users who subscribed their BNB to Simple Earn and Chain Yield products from April 15 to April 19 remain poised to partake in this event.
The CEX further revealed that more details on this token airdrop will be available in the next 12 hours. SIGN tokens are to be distributed to users’ spot accounts at least 1 hour before trading commences.
Intriguingly, Binance revealed that it will list the SIGN token on April 28 at 11:00 UTC. This crypto will be available in numerous trading pairs, pegged to USDT, USDC, BNB, FDUSD, and TRY.
Further, the exchange forged ahead by applying the seed tag next to the asset. This tag mainly indicates high risk and volatility concerns surrounding new crypto projects.
As per the announcement, the total token supply for SIGN remains at 10 billion coins. The HODLer Airdrop event will consist of rewards worth 2% of the token’s supply, 200 million coins.
An additional 150 million tokens, worth 1.5% of the total supply, will be allocated towards marketing campaigns 3 months post-listing. Further details on this update will be provided shortly ahead, as per the announcement.
The token’s circulating supply upon Binance listing will be 1.2 billion SIGN. Altogether, this new offering by the top crypto exchange has promptly gained significant traction, offering users emerging opportunities to capitalize on.
On the other hand, CoinGape reported some other looming crypto airdrops for this year, including MemeFi, Etherfi, and TapSwap, among many others.
The post Binance Reveals Major Update On Sign Airdrop: Details appeared first on CoinGape.