The correction that Bitcoin (BTC) suffered over the past 24 hours has triggered conversations around its correlation with the M2 Money supply. Analysts like Raoul pal and Abra CEO are using Bitcoin Vs M2 money supply co-relation to predict Bitcoin price. Bitcoin to $130k in August/September This Year? Abra Global CEO Bill Barhydt shared his analysis on the rising Bitcoin Vs M2 money supply trend via via his X account. The consensus is that with the growth in the global money supply, risk-on assets like BTC benefit significantly. The concept is simple: the more money in circulation, the more devalued fiat is, granting emerging hedges like Bitcoin more value. Source: X, Bitcoin Vs M2 Money Supply According to him, most trending charts predict a short-term bearish outlook. He most likely highlighted the likelihood of Bitcoin price dropping to $100,000 in the coming days before it pushed to a new all-time… Read More at Coingape.com
South Korea has pushed Google to restrict access to 17 foreign trading platforms, including KuCoin and MEXC.
The crackdown, which took effect on March 25, is part of the country’s ongoing efforts to regulate the crypto industry and safeguard local investors.
Here’s Why the South Korean Government Took Action
South Korea’s top financial regulator, the Financial Services Commission (FSC), confirmed that Google Play had removed KuCoin and MEXC, among 15 other exchanges, from its platform. The move makes it impossible for new users to install the apps.
“Since March 25, at the request of the South Korean government, Google has implemented domestic access restrictions on 17 exchanges that are not registered in South Korea. Users cannot install new related applications or update them, including KuCoin, MEXC, Phemex, XT, Biture, CoinW, CoinEX, ZoomEX, Poloniex, BTCC, DigiFinex, Pionex, Blofin, Apex Pro, CoinCatch, WEEX, and BitMart,” Wu Blockchain reported.
Existing users are also unable to update them, further limiting their accessibility. According to the FSC, these platforms failed to register under South Korean law while actively targeting local traders. With this, they effectively violated the country’s regulatory requirements.
South Korea has some of the world’s strictest crypto regulations, and authorities have been increasingly aggressive in enforcing them. Under the Specific Financial Transaction Information Reporting and Use Act, any foreign virtual asset service provider (VASP) operating in South Korea must register with the country’s Financial Intelligence Unit (FIU).
The FSC emphasized that this latest measure aims to prevent financial crimes such as money laundering and protect investors from potential fraud. The regulator outlined the criteria to determine whether an exchange was operating illegally in the country.
These included offering a Korean-language website, actively marketing to local users, and supporting transactions in Korean won.
While this enforcement action is significant, it is not the first time South Korean authorities have taken a hard stance against foreign exchanges. In 2022, the FIU identified and restricted 16 unregistered platforms, followed by another six in 2023.
The latest crackdown signals regulators are doubling their efforts to bring the crypto market under stricter oversight.
Upbit Exchange To Grow Market Edge
With major international exchanges facing restrictions, the dominance of local platforms like Upbit has only strengthened. The exchange controls a significant share of South Korea’s crypto trading market.
BeInCrypto recently reported that over 30% of South Korea’s population trades cryptocurrency. Upbit processes the bulk of these transactions. This latest move against foreign exchanges could further consolidate Upbit’s position in the market, making it the go-to platform for retail and institutional investors.
“South Korea isn’t playing when it comes to crypto regulations. This move [blacklisting 17 exchanges] puts a real hurdle in front of traders using these exchanges,” one user remarked.
Upbit Dominates South Korean exchanges in Trading volume. Source: CoinGecko
By enforcing compliance measures and weeding out unregistered players, the government is creating a more structured environment that may attract traditional financial (TradFi) institutions looking for regulatory clarity before investing in digital assets.
The country has also been taking steps to delay taxation on crypto investments, which signals a more balanced approach that seeks to encourage growth in the sector while ensuring investor protection.
Coinbase, the largest US-based crypto exchange, received regulatory approval from the CFTC (Commodity Futures Trading Commission) to launch XRP futures contracts through its derivatives arm.
This development marks a pivotal moment for institutional access to XRP altcoin, amid a broader derivatives market shakeup.
XRP Futures Now Live on Coinbase
Earlier in the month, Coinbase revealed its intention to bring regulated XRP futures to market, showing that it had filed for the offering with the CFTC. BeInCrypto reported that the US-based exchange filed to self-certify the product.
“We’re excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify XRP futures—bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets,” read the announcement.
The firm anticipated the contract going live on April 21. During the late hours of the US session on Monday, Coinbase confirmed in a follow-up post that the product was live.
“Coinbase Derivatives, LLC now offers CFTC-regulated futures for XRP,” the exchange stated.
This approval suggests a fast-track endorsement by the CFTC, potentially opening the door to broader crypto derivatives activity in the US.
It is unsurprising that the agency has recently pivoted toward easing entry into the crypto derivatives sector. As BeInCrypto reported earlier this month, the CFTC rolled back several regulatory hurdles that had previously deterred traditional and crypto-native firms.
“As stated in today’s withdrawal letter, DCR [Division of Clearing and Risk] determined to withdraw the advisory to ensure that it does not suggest that its regulatory treatment of digital asset derivatives will vary from its treatment of other products,” the CFTC explained.
The changes simplify registration requirements and lower operational barriers for launching crypto derivatives products.
XRP Network Activity Soars 67.5%
With XRP historically maintaining high liquidity and a global user base, it represents a strong candidate for derivatives trading, especially in a newly liberalized environment.
Unlike more volatile mid-cap tokens, XRP benefits from a combination of legal clarity following the Ripple lawsuit outcome, broad exchange availability, and a sizable market cap. These elements make it attractive to institutional traders seeking capital-efficient exposure.
Recent on-chain data reveals a sharp uptick in network activity, further bolstering the case for XRP futures. Data shows XRP active addresses surged by 67.5% between April 19 and 20, ahead of Coinbase Derivatives’ XRP futures debut, climbing from 27,352 to 40,366.
The spike suggests growing engagement from retail and institutional participants, possibly in anticipation of expanded market access through derivatives.
Still, market sentiment around XRP remains mixed. Despite the regulatory milestone, XRP’s spot price has declined 1.26% in the past 24 hours, reflecting broader market consolidation and investor caution.
This suggests that while futures listings can enhance liquidity and price discovery over time, short-term price action often diverges from structural developments.
Coinbase’s move aligns with its broader strategy to position itself as a regulated gateway to crypto derivatives in the US. With the futures of Ethereum and Bitcoin already live, XRP has joined the lineup. This signals Coinbase’s confidence in XRP’s long-term viability despite lingering skepticism in parts of the US regulatory arena.
Dogecoin (DOGE) price has been underperforming due to capital rotation to new meme coins, but a trend reversal is now looming. Technical analysis, on-chain data, and macro factors suggest that it might make a parabolic 135% surge to $0.40 before May ends.
DOGE value today remains flat with a modest 0.05% gain to trade at $0.174 with an intraday low of $0.169. The meme coin’s volatility has also been notably low over the past week, as traders adopt a “sit-and-wait” approach after Bitcoin’s rally to $96,000 sparked speculation about the return of a bull market.
DOGE/USDT: 4-Hour Chart
Despite the choppy moves, three factors have aligned and tease towards a price rally for Dogecoin to as high as $0.40, with this upswing expected to occur in the coming weeks.
Dogecoin Price Closes a Monthly FVG Gap
Dogecoin price is showing signs of strength, according to a recent X post by analyst Polaris.xbt on X who noted that it had closed a monthly FVG gap, and it was now trading within a stable consolidation range that could spark an upward breakout.
In his analysis, he stated that the Dogecoin price forecast is positive, and if it can defend support at the bottom range of this consolidation zone, it faces the next major hurdle at $0.22. If it breaks out from this resistance level, it may enter a sustained uptrend past $0.40, which will mimic the DOGE ETF approval rally.
Dogecoin Price Chart
Conversely, if DOGE fails to make a clean breakout from the current consolidation zone and slips, it faces critical support at $0.10, at which point it will have wiped out the entire Q4 rally triggered by President Trump’s election.
On-Chain Data Signals DOGE Price Bottom
Besides technical analysis, data from Santiment, specifically the Market Value to Realized Value (MVRV) ratio, suggests that the price of Dogecoin may have hit a local bottom, a factor that often precedes an upward recovery.
DOGE 365D MVRV Ratio
At press time, the 365-day MVRV had plunged to -37%, indicating that most holders are underwater, which suggests that the top meme coin is undervalued and may make a strong upward trend. Doing so will mirror past patterns, like in the second half of 2024, whereby DOGE went on a parabolic rally after the MVRV signalled a bottom.
DOGE ETF Approval Odds Hit 64%
The high approval odds for a spot Dogecoin ETF might also catalyze the next bullish break for price, as Polymarket reveals that the approval odds now stand at 64%. Meanwhile, Bloomberg analysts stated that there is an 80% chance of a DOGE ETF approval for the three issuers that have filed for the product.
Polymarket
As optimism towards the approval of this product increases, Dogecoin is likely to make an upward breakout in May 2025. Moreover, as Coingape recently reported, DOGE will rally significantly if it captures 30% to 50% of spot Bitcoin ETF inflows.
Summary
Dogecoin price is on the verge of a major rally as three signals suggest that the meme coin may reach $0.40 in May 2025. The closure of a monthly FVG gap, the 365-day MVRV ratio, and the increased odds of a spot DOGE ETF approval hint that it may have hit a local bottom and now eyes gains.
