Cardano (ADA), after experiencing a notable price drop yesterday, is recovering as the asset has successfully retested the crucial support area of $0.70. Despite the ongoing recovery, the asset has still recorded a price drop of over 8% in the past 24 hours and is currently trading near $0.744.
Cardanon (ADA) Technical Analysis and Upcoming Levels
According to expert technical analysis, ADA is poised for a potential price surge in the coming days. After successfully retesting the crucial support level, the asset has begun moving upward.
Based on recent price action and historical momentum, if ADA holds this support level, there is a strong possibility it could soar by 10% to reach the $0.81 level in the upcoming hours.
Source: Trading View
Currently, the asset is facing resistance from the 200 Exponential Moving Average (EMA) on the four-hour time frame. If it breaches this level, ADA could reach the predicted target soon.
Liquidation Levels & Market Impact
With this ongoing price recovery, traders’ short positions worth $6.67 million are on the verge of liquidation as the price continues to recover.
As of now, the major liquidation levels are near $0.728 on the lower side and $0.754 on the upper side, as intraday traders are over-leveraged at these levels. However, these over-leveraged positions will be liquidated if the asset’s price moves in either direction.
Source: Coinglass
$25 Million ADA Outflow Signals Accumulation
Besides traders’ over-leveraged positions, long-term holders seem to be taking advantage of the current market sentiment as they continue accumulating tokens, according to on-chain analytics firm Coinglass.
Data from spot inflow/outflow reveals that, in the past 48 hours, exchanges have witnessed an outflow of a significant $25 million worth of ADA tokens.
These substantial outflows from exchanges indicate potential accumulation, which could create a buying opportunity and further drive an upside rally. With strong bullish participation from traders and investors, ADA’s 24-hour trading volume has surged by 55%, reflecting increased market activity.
When combining these on-chain metrics with technical analysis, it appears that bulls are back to support ADA, potentially driving further upside momentum.
The cryptocurrency market is experiencing a significant shift in investor sentiment this month. Bitcoin’s price recovery has sparked a ripple effect in demand, from large investors to smaller ones.
Bitcoin has rebounded by 25% from its early April lows. On-chain data and updated forecasts from industry experts offer insights into the sustainability of this rally.
Market Sentiment Shifts from Fear to Greed
According to data from Alternative.me, the Fear and Greed Index surged from a low of 18 to a high of 72 in April. This is the highest level since February and marks a clear shift from fear to greed.
Meanwhile, CoinMarketCap’s version of the index shows a slightly different picture. It rose from 15 to 52 points, moving from extreme fear to a neutral state. Although the two indices differ, both confirm a notable shift in investor sentiment. Investors have moved past the fear that often triggers panic selling.
This neutral or greedy mindset lays the groundwork for further optimism. If it continues, the market may reach a state of extreme greed before any major correction occurs. This sentiment shift has led to five divergence signals that support the potential continuation of the recovery for both Bitcoin and altcoins.
Bitcoin Accumulation Spreads from Large to Smaller Wallets, Indicating a Positive Outlook
On-chain data shows that whale accumulation has helped Bitcoin hold above $93,000 in the final week of April.
A chart from Glassnode reveals a clear transition from a distribution phase (marked in red) to an accumulation phase (marked in green) during April. This timing aligns with Bitcoin’s rebound from its monthly low.
Specifically, Bitcoin whales—wallets holding over 10,000 BTC—have been accumulating at near-perfect levels. Their Trend Accumulation Score is around 0.9.
Following the whales, wallets with 1,000 to 10,000 BTC gradually increased their accumulation score in the second half of April. Their score reached 0.7, as seen by the chart’s color shift from yellow to blue. Other wallet tiers also show signs of accumulation, reflecting changing sentiment among smaller whales.
“So far, large players have been buying into this rally,” Glassnode explained.
Additionally, a recent report from BeInCrypto highlights that Bitcoin ETFs recorded $2.68 billion in inflows last week. These ETFs have seen five consecutive days of positive inflows. These metrics confirm that demand is returning and lay the foundation for continued price gains.
Fidelity and ARK Invest Update Bitcoin Forecasts
Fidelity Digital Assets, a branch of the $5.8 trillion asset management giant Fidelity Investments, reports that Bitcoin supply on exchanges has dropped to its lowest level since 2018, with only about 2.6 million BTC remaining.
Fidelity also noted that more than 425,000 BTC have left exchanges since November 2024. Public companies have added nearly 350,000 BTC since the US election and are buying over 30,000 BTC monthly in 2025. Fidelity expects this trend to continue.
“We have seen Bitcoin supply on exchanges dropping due to public company purchases—something we anticipate accelerating in the near future,” Fidelity Digital Assets stated.
Meanwhile, ARK Invest has updated its Bitcoin price projection in the Big Ideas 2025 report. Under its most bullish scenario, Bitcoin could reach $2.4 million by 2030—far above its previous forecast of $1.5 million.
This projection relies on several factors: increasing institutional investment, the possibility of nations treating Bitcoin as a strategic reserve asset, and its growing role in decentralized finance.
While fund managers like Fidelity and ARK Invest have a positive outlook for April, some retail investors are beginning to express caution. The idea of “sell in May” is starting to surface, reflecting concern amid unpredictable macroeconomic factors, such as tariffs and interest rate shifts, that could strongly impact the market in the near future.
Bitcoin (BTC) enters the second week of May trading in a fragile but critical zone, with conflicting technical signals and growing macro uncertainty shaping short-term expectations. While the ADX from the Directional Movement Index is rising, bearish pressure still dominates, and momentum remains weak across multiple indicators.
Although the price continues to hold above the $92,900 support level, weakening EMAs and the looming FOMC meeting leave Bitcoin’s $100,000 recovery path uncertain, but not out of reach.
BTC Trend Strength Rises, but Bears Still in Control
Bitcoin’s Directional Movement Index (DMI) is showing a notable shift.
The ADX, which measures the strength of a trend regardless of direction, has climbed sharply to 25.93, up from 15.97 just two days ago—crossing the key 25 threshold that signals a trend is starting to gain traction.
This rising ADX suggests that volatility is returning and a new directional move may be forming, even if the direction itself is still unclear.
Looking at the components of the DMI, +DI (bullish strength) has bounced to 12.2, up slightly from yesterday’s low of 8.67 but still down significantly from 21.31 three days ago.
Meanwhile, -DI (bearish strength) is at 19.17, slightly off its peak of 25.44 but still higher than three days ago. This indicates that although the recent bearish momentum has cooled somewhat, sellers still have the upper hand.
With ADX rising and -DI leading, Bitcoin could remain under pressure unless +DI recovers sharply in the coming days.
Bitcoin Trapped Below the Cloud as Momentum Stalls
The current Ichimoku Cloud chart for Bitcoin reflects a market in consolidation, with a slight bearish undertone. Price action is sitting very close to the blue Kijun-sen (baseline), which typically represents medium-term trend momentum.
Trading beneath this line suggests that BTC lacks the strength to reclaim bullish momentum in the short term. The white candlesticks hovering near the cloud’s lower boundary indicate indecision among traders, with no clear breakout in sight.
The green Kumo (cloud) itself is relatively thin at this stage, hinting at a fragile support zone that could easily be broken if bearish pressure returns.
Looking ahead, the red Senkou Span B—the top of the projected cloud—is acting as dynamic resistance, capping any upward attempts. For a stronger bullish signal, BTC would need to close decisively above both the Kijun-sen and the entire cloud.
Complicating matters further, the Tenkan-sen (conversion line) is flat and overlapping with the Kijun-sen, signaling weak momentum and a lack of direction. Flat Tenkan and Kijun lines often precede sideways movement or delayed trend development.
Until Bitcoin breaks convincingly above the cloud with rising volume, the current setup leans neutral to bearish, with price trapped in a zone of low conviction and limited momentum.
Bitcoin Holds Key Support as $100,000 Reclaim Hangs in the Balance
Bitcoin price has remained resilient above the $90,000 level since April 22, repeatedly holding support near $92,945 despite broader market uncertainty. The exponential moving averages (EMAs) still reflect a bullish structure, with short-term averages positioned above long-term ones.
However, there are early signs of weakening momentum, as the short-term EMAs have begun to slope downward—an indication that buyers may be losing strength soon.
If BTC fails to hold its key support, a drop toward $88,839 could follow, breaking the structure that has held for over two weeks.
Still, some analysts remain confident. Nick Purin, founder of The Coin Bureau, believes Bitcoin is well-positioned to reclaim the $100,000 mark, even as markets brace for volatility surrounding the upcoming FOMC meeting:
“It will be a volatile week. Firstly, we have the FOMC meeting tomorrow. While it’s pretty clear there will be no rate cuts, it’s what Chair Powell says that could move the markets. On top of that, trading volume is low and the long/short ratio is sitting at 50/50, which means that, yet again, BTC can swing in either direction from here. The good news is that there’s a great deal of buying interest around the $90,000-$93,000 range, so a dip to those levels is nothing to be concerned about – it will likely bounce back. And overall, the BTC/USD chart is looking strong as it continues to print higher lows.” – Purin told BeInCrypto.
Nick states how Fed next decisions could influence the market in the next months:
“If the Fed surprises with some dovish tones as well as guidance for rate cuts in June, there’s room for Bitcoin to rally all the way back up to that $100,000 level, which remains a liquidity magnet. But even if Powell strikes a hawkish tone, the impact on BTC will likely be minimal. There’s simply too much positive momentum – spot BTC ETFs are hoovering up assets, corporates are building up BTC treasuries and the correlation between Bitcoin and stocks is breaking down. On top of this, historic data shows that BTC has posted gains during nine out of the last 12 Mays. So, despite the likelihood of heightened volatility, the near future is looking promising. As such, following the old adage of ‘sell in May’ would be madness at this point.” – Purin told BeInCrypto.
A recovery in momentum could first drive BTC to retest resistance at $95,657, with a breakout potentially leading to $98,002 and eventually a challenge of the psychological $100,000 level.
With macro headwinds and technical crossroads converging this week, the next move will likely hinge on how BTC responds to its support zone and how broader market sentiment reacts to Fed commentary.
BloFin, the leading futures trading exchange, made a bold statement as the Title Sponsor at TOKEN2049 Dubai 2025, marking its third consecutive year of sponsorship.
At this year’s TOKEN2049, BloFin joins top exchanges including OKX, Binance, and KuCoin as a Title Sponsor, marking another milestone in its global expansion and industry recognition. From a Platinum Sponsor last year to a Title Sponsor this year, BloFin’s elevation in status reflects the brand’s growing ambition and commitment to the cryptocurrency industry. The company has also made significant strides in its offerings, showcasing multiple brand advancements, including launching sub-accounts, achieving ISO 27001 certification, and becoming the fourth exchange in the industry to complete the Unified Trading Account feature.
BloFin’s presence was prominent throughout the venue, from the entrance and exclusive registration counter to the welcome bags and key areas across the event space. The team engaged with industry leaders, partners, traders, and KOLs, fostering insightful conversations and building meaningful relationships to drive future crypto growth.
Finny Takes the Spotlight: BloFin’s Mascot Shines as the Star of TOKEN2049
A standout moment at TOKEN2049 was the official debut of Finny, BloFin’s newly unveiled mascot. Designed as a meme-worthy space whale, Finny quickly became a crowd favorite and a visual symbol of BloFin’s unique brand identity. Finny symbolized BloFin’s commitment to protecting whales and embodied the brand’s aspirations to the moon. With its captivating design, Finny became the event’s most talked-about character, further solidifying BloFin’s connection with the crypto community.
The First-ever Whale’s Rave: Arcadia Side Event of TOKEN2049 Concludes Successfully, Marking the Beginning of Exciting Collaborations with Luke Belmar
The Whale’s Rave: Arcadia event, presented by BloFin, quickly became the most talked-about side event of TOKEN2049 Dubai 2025, drawing nearly 1,000 attendees worldwide. This year also marked a historic collaboration between BloFin and renowned crypto investor Luke Belmar, taking the event to its peak and pushing its excitement to new heights.
Whale’s Rave: Arcadia was this exclusive event’s first edition, leaving an indelible mark on every attendee. The event redefined what crypto industry gatherings could look like, featuring premium whale-tier merchandise, an exclusive Whale’s Club-only gift, and the debut of BloFin’s beloved mascot Finny. BloFin also showcased a series of brand-defining performances, further solidifying the brand’s position as an innovator within the space.
In line with its continued growth, BloFin unveiled its all-new 2025 merchandise collection, designed exclusively for the crypto elite. The collection features eight unique items, including the coveted BloFin Top Whales Necklace and Ring Bundle, Whale’s Trading Journal, Gym Bag, Finny T-shirts, and exclusive Whale Club-only merchandise for VIP traders.
“We are incredibly excited about the success of the first-ever Whale’s Rave,” said Matt, CEO of BloFin. “It was an unforgettable moment to celebrate with our global community and partners. We were also pleased to share major product updates, including our Unified Trading Account, Sub-Account features, and the upcoming BloFin Card. We look forward to seeing everyone again in Singapore.” “It was the most fun and craziest party of the week!” as described by BeInCrypto and CoinTelegraph.
As the flames of the event burned bright, BloFin remains focused on its mission to create unforgettable experiences for its community and build a future where Whales Are Made.
With sights set on TOKEN2049 Singapore, BloFin is preparing to elevate its presence further, headlined by a large-scale, thousand-person celebration and deeper engagement with industry leaders. As BloFin expands its global reach and solidifies its role at the forefront of digital finance, the world can anticipate the next bold chapter from the brand that continues to prove: this is where whales are made.
BloFin is a top-tier cryptocurrency exchange that specializes in futures trading. The platform offers 480+ USDT-M perpetual pairs, spot trading, copy trading, API access, unified account management, and advanced sub-account solutions. Committed to security and compliance, BloFin integrates Fireblocks and Chainalysis to ensure robust asset protection. By partnering with top affiliates, BloFin delivers scalable trading solutions, efficient fund management, and enhanced flexibility for professional traders. As the constant sponsor of TOKEN2049, BloFin continues to expand its global presence, reinforcing its position as the place “WHERE WHALES ARE MADE.” For more information, visit BloFin’s official website.
