Ethereum Price Reverses Below $1,700 as Galaxy Digital Dumps $106M ETH for Solana

Monicah W

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Etheruem price retraced below the $1,700 mark on Tuesday, April 22, as bulls struggled to contain an initial 3% rally.

Galaxy Digital pivots to Solana amid Ethereum headwinds

Galaxy Digital has exchanged roughly $106 million worth of Ethereum (ETH) for Solana (SOL), according to blockchain data analytics platform, Lookonchain.

The trades occurred over the past two weeks on Binance, suggesting a significant portfolio reshuffle away from Ethereum.

This move comes as ETH price fell below $1,700 on Tuesday, after intially rallying to a new monthly peak of $1,725 around noon CET.

https://x.com/lookonchain/status/1914492078236811451
https://x.com/lookonchain/status/1914492078236811451

The firm’s transactions reflect a broader shift in institutional sentiment. Market data shows decreasing Ethereum holdings among large entities, reinforcing the narrative that confidence in ETH may be waning. Galaxy’s portfolio’s reshuffling coincides with a continued decline in Ethereum’s decentralized exchange volumes.

Ethereum dominance declines as scalability challenges persist

Ethereum’s market dominance has dropped to under 7%, marking its lowest point in years. Analysts cite ongoing scalability issues, high gas fees, and lagging Layer 2 adoption as contributors to its weakened position in the crypto ecosystem.

Ethereum market dominance (ETH.D) has plunged 63% since June 2024 | ETHUSD | Source: TradingView
Ethereum market dominance (ETH.D) has plunged 63% since June 2024 | ETHUSD | Source: TradingView

While Ethereum continues to lead in developer activity and protocol TVL, competitors like Solana are gaining traction due to faster transaction speeds and growing ecosystem support. Galaxy Digital’s decision to increase its exposure to SOL could signal broader adoption shifts within institutional portfolios.

Ethereum Price Forecast Today: ETH Faces Resistance Near $1,725, Pullback Towards $1,600 Could Follow

Ethereum price forecast today shows a strong intraday surge, closing at $1,701 after tapping a high of $1,725. However, the move stalls just beneath the upper Bollinger Band at $1,672, suggesting overextension.

The wide Bollinger Bands reflect heightened volatility, and the current candlestick piercing the upper band hints at a short-term overbought condition. Price may retrace toward the midline around $1,607, or further to the lower band near $1,542 if selling pressure intensifies.

Ethereum Price Forecast | ETHUSD 
Ethereum Price Forecast | ETHUSD

Momentum indicators lend additional insight. The MACD histogram has flipped bullish, and the MACD line has crossed above the signal line, indicating short-term upside momentum. Yet, this follows an extended bearish cycle through early April, and the MACD reading remains below zero—an indication that the broader trend still lacks strength.

If Ethereum sustains above $1,725, a breakout toward $1,800 is possible. However, a failure to close above that level would confirm a resistance rejection. In that case, expect sellers to target $1,600 in the near term, especially if market volumes fail to confirm the breakout.

The post Ethereum Price Reverses Below $1,700 as Galaxy Digital Dumps $106M ETH for Solana appeared first on CoinGape.

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Trump Tariff Strategy Could Cut Income Taxes Ahead of Fed Rate Cuts

The post Trump Tariff Strategy Could Cut Income Taxes Ahead of Fed Rate Cuts appeared first on Coinpedia Fintech News

President Donald Trump



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hinted that Americans could soon see a dramatic shift in how the government is funded, possibly eliminating federal income taxes. In a Truth Social post on April 27, Trump suggested that once his new Trump Tariff policies on imported goods are fully in place, income taxes could be “substantially reduced,” especially for those earning under $200,000 a year.

Trump introduced a new concept called the “External Revenue Service,” proposing that tariffs, rather than income taxes, could support the government. He described it as a return to an earlier model, pointing to the 19th-century Gilded Age when the U.S. operated without an income tax.

Could Lower Taxes Boost Investments and Crypto?

Lower income taxes could leave Americans with more disposable income, potentially sparking increased investment in stocks, real estate, and cryptocurrencies. Market watchers note that extra take-home pay often translates into higher consumer spending and asset growth. However, analysts caution that the broader economic impact — especially against the backdrop of Fed rate cuts and fluctuating markets — will ultimately determine whether the plan would fuel major investment surges.

Skepticism Grows Over Lack of Details

This isn’t the first time Trump has floated the idea. He previously mentioned the concept during a 2024 appearance on the Joe Rogan Experience. Critics argue that Trump has yet to provide a clear roadmap on how a tariff-funded government would work, especially at current spending levels.

Research from Dancing Numbers suggests eliminating income taxes could save the average American more than $134,000 over a lifetime, with even greater savings if payroll taxes are removed. Still, experts warn that relying solely on tariffs might not generate enough revenue without significant changes to federal spending.

U.S. Commerce Secretary Howard Lutnick, a strong supporter of Trump’s tariff strategy, has also advocated for scrapping the IRS. In January 2025, Lutnick pointed to the early 1900s, when tariffs helped make America the world’s richest country, arguing that protecting domestic workers through Trump Tariff measures could once again boost national wealth.

New Tax Proposals Emerge

Financial strategist Bert Dohmen has pitched additional tax ideas for Trump to consider. He proposes exempting seniors over the age of 76 who operate small businesses from income taxes, arguing that the administrative burden is too high for older entrepreneurs.

Dohmen also recommends offering tax incentives for families, suggesting a 10% tax exemption per child, capped at a 50% total reduction, to encourage higher birth rates — a growing concern among industrialized nations.

Markets Wobble Amid Trump Tariff Uncertainty

While Trump signed an executive order to introduce sweeping new tariffs earlier this month, frequent revisions and policy shifts have injected volatility into the markets. Stocks and bond yields have reacted sharply, with many analysts warning that the evolving Trump Tariff framework is creating more uncertainty than stability.

The instability comes at a critical time when markets are already bracing for the impact of potential Fed rate cuts later this year. Investors will closely watch how Trump’s tariff-driven vision and the Fed’s monetary policy intersect to shape the economic landscape ahead of the 2026 election season.

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The post Trump Tariff Strategy Could Cut Income Taxes Ahead of Fed Rate Cuts appeared first on Coinpedia Fintech News
President hinted that Americans could soon see a dramatic shift in how the government is funded, possibly eliminating federal income taxes. In a Truth Social post on April 27, Trump suggested that once his new Trump Tariff policies on imported goods are fully in place, income taxes could be “substantially reduced,” especially for those earning …

Solana Price Analysis and Forecast: Deviation or Market Breakout?

Whale Pulls $110M in SOL From Exchange, Solana Bull Run Imminent

The post Solana Price Analysis and Forecast: Deviation or Market Breakout? appeared first on Coinpedia Fintech News

  • Solana network has recorded a spike in demand from institutional investors amid anticipated approval of U.S. spot SOL ETF.
  • SOL price has regained 50-day SMA as a support level and now eyes $180 next.

After closing the past three weeks in a bullish outlook, Solana (SOL) price has signaled the return of bullish sentiment. The large-cap altcoin, with a fully diluted valuation of about $90 billion and a 24-hour average trading volume of around $3.7 billion, gained over 20 percent in April 2025 to trade at about $150.33 on Thursday, during the late North American session.

The rising bullish momentum for Solana is heavily bolstered by institutional investors and rising Futures Open Interest (OI) by over $1.6 billion in the past four weeks.

Midterm Expectations for Solana Price 

In the weekly timeframe, Solana price has been consolidating in a megaphone structure for the past twelve months. Following a successful rebound from the lower border of the macro megaphone, SOL price has gradually gained bullish momentum.

Moreover, the weekly MACD histograms have been signaling a growing bullish momentum after a prolonged bearish period. Additionally, the weekly MACD line is almost crossing the signal line, suggesting bullish sentiment.

Meanwhile, the Bollinger Bands for Solana price, in the four-hour timeframe, have been squeezing, signaling a major price move in the near future.

Fundamental Outlook

The Solana network remains a premier ecosystem for DeFi developers, with a total value locked (TVL) of about $8 billion and a stablecoins market cap of around $13 billion. The Solana network has recorded significant growth in memecoins in the past year, thus achieving a 24-hour active addresses of over 3.6 million across its DeFi protocols.

The anticipated approval of spot Solana ETFs before the end of 2025, will play a crucial role in SOL’s market outlook. Moreover, the rising adoption of Solana from institutional investors will help validate the network and increase its demand and liquidity in the long haul.

The post Solana Price Analysis and Forecast: Deviation or Market Breakout? appeared first on Coinpedia Fintech News
Solana network has recorded a spike in demand from institutional investors amid anticipated approval of U.S. spot SOL ETF. SOL price has regained 50-day SMA as a support level and now eyes $180 next. After closing the past three weeks in a bullish outlook, Solana (SOL) price has signaled the return of bullish sentiment. The …

Bitcoin Price Rise To New All-Time High Could Be Hindered By Rising CPI

Bitcoin’s price has surged over the last few days, reigniting hopes of reaching a new all-time high (ATH). As of the latest price action, BTC is just inches away from breaching the $110,000 resistance. 

Despite the strong momentum, Bitcoin may struggle to form a new ATH if external factors such as the upcoming CPI report is weighed in.

Bitcoin Investors’ Greed Rises

Trader sentiment has been on the rise recently, signaling an increase in optimism. However, this shift toward bullishness could be a warning sign of an impending market top. As Bitcoin enters the Greed zone, it raises concerns that the asset could be overbought. Historically, this has been a signal that Bitcoin’s price is reaching its peak, and a reversal could follow soon after.

While the market sentiment may suggest a continuation of the bull run, Bitcoin has often extended its rise even while in the Greed zone. This mixed signal has left investors uncertain, as the typical pattern of a market top may not always apply. As Bitcoin inches closer to its $110,000 resistance, the heightened optimism could also set the stage for a price correction.

Bitcoin Sentiment
Bitcoin Sentiment. Source: Santiment

Bitcoin’s macro momentum is heavily influenced by the upcoming Consumer Price Index (CPI) report, scheduled for release on June 11. The CPI for May is forecasted to rise by 0.2%, which would increase the year-over-year (YoY) inflation rate from 2.3% in April to 2.5%. This increase could contribute to market uncertainty, especially if inflation remains higher than expected.

Additionally, recent selling behavior in the market has contributed to a more cautious investor outlook. The rising red bars on the chart indicate rising Bitcoin sales by investors.

This, combined with the CPI data, could lead to bearish sentiment, prompting a decline in Bitcoin’s price. Investors may adjust their positions, anticipating that the rising inflation could negatively impact Bitcoin’s growth, especially if market expectations are not met.

Bitcoin Exchange Net Position Change.
Bitcoin Exchange Net Position Change. Source: Glassnode

BTC Price Is Close To A New High

Bitcoin’s price is currently at $109,480, just below the critical $110,000 resistance. Although BTC briefly crossed this resistance in the past 24 hours, the broader market signals suggest a potential price drop. With rising trader sentiment and the looming CPI report, Bitcoin could struggle to maintain its current level.

If the CPI report fails to meet investor expectations, Bitcoin could drop to its next support level of $108,000. This decline would be in response to the bearish sentiment surrounding the potential inflation rise. A failure to break above the $110,000 resistance could signal a more prolonged downturn for Bitcoin’s price, sending it to $108,000 or $106,265, wiping a chunk of the recent gains.

Bitcoin Price Analysis.
Bitcoin Price Analysis. Source: TradingView

On the other hand, if the CPI report comes in below expectations, showing a YoY inflation rate of 2.1% instead of 2.3%, Bitcoin could experience a bounce back. In this case, securing $110,000 as support could lead Bitcoin toward its ATH of $111,980 and beyond. A positive CPI report would likely renew investor confidence, pushing Bitcoin to new highs and invalidating the bearish outlook.

The post Bitcoin Price Rise To New All-Time High Could Be Hindered By Rising CPI appeared first on BeInCrypto.