Upbit has announced that it will suspend Synthetix (SNX) deposits starting from April 24 at 15:00 KST. This action comes after the sUSD stablecoin failed to maintain its peg to 1 USD, causing significant volatility in the SNX token. The Digital Asset eXchange Alliance (DAXA) has also flagged SNX as an “investment warning asset,” signaling potential risks for investors. The suspension aims to protect users amid these concerns.
With Bitcoin’s current price at $88,178, combined with its historical resilience and expert forecasts, the overall outlook remains cautiously optimistic.
In the short term, investors should closely monitor the $83,000 support level and the $90,000 resistance threshold, as these levels are likely to shape market sentiment.
Short-Term Outlook: Correction or Bear Market?
On Easter Sunday 2025, Bitcoin reached a price of $84,600, marking its highest level on this holiday in 17 years, according to a report by DocumentingBTC on X. From $0 in 2009–2010 to $84,600 in 2025, Bitcoin has demonstrated unparalleled resilience and adoption over the years.
Bitcoin dominance (BTC.D) has also hit a 4-year high. Despite this, experts remain divided on whether an altcoin season is on the horizon.
CryptoQuant’s Head of Research, Julio Moreno, shared on X that Bitcoin’s price resistance could range between $91,000 and $92,000, aligning with the realized price on-chain for traders. According to the analysis, during a bull market (bull market score ≥ 60), this realized price often acts as support; in a bear market (bull market score ≤ 40), it serves as resistance. The current market is still considered to be in the latter scenario.
In another analysis, CryptoQuant suggests that the market is likely undergoing a typical correction rather than entering a full bear market cycle. This view aligns with Bitcoin’s current price of $88,178, which, although slightly below recent highs, remains above key support levels.
Difference Between a Bear Cycle & a Typical Correction. Source: CryptoQuant
Analyst Mark Cullen has expressed particular skepticism about the $83,000 level. If Bitcoin drops below this threshold, the market could witness a stronger bearish reaction.
“Bitcoin $90,000 liquidity still calling. But, I think the $83,000 level isn’t safe, those lows from last Sunday and Wednesday are likely to get run first,” Mark Cullen stated.
A recent BeInCrypto report also mentioned that Bitcoin is eyeing a breakout above $90,000, driven by increasing momentum in the derivatives market. Breaking this level could signal a new bullish wave, potentially fueled by dip buyers and derivatives traders.
Long-Term Potential: A Bullish Future?
Looking at the long-term outlook, experts remain optimistic about Bitcoin’s trajectory.
“Seriously fam, this might be the last chance you have to buy $BTC < $100,000,” Arthur Hayes, co-founder of BitMEX, shared.
Robert Kiyosaki, the author of Rich Dad Poor Dad, posted on X that he firmly believes Bitcoin’s price will reach $180,000 to $200,000 by the end of 2025.
Bitcoin’s historical resilience following corrections supports this bullish outlook. For example, after dipping to $27,931 on Easter Sunday 2023, BTC rebounded significantly to $84,600 by 2025. This recovery pattern aligns with analysts’ views that corrections are healthy for long-term growth.
The Fear and Greed Index could also play a role in shaping investor behavior. A higher index value (indicating greed) often signals bullish sentiment, potentially pushing Bitcoin closer to the $90,000 mark and beyond.
A macroeconomic chart reveals that the M2 Money Supply is starting to rise again. Historical market patterns suggest that there is a correlation between the M2 Money Supply index and the Bitcoin price index. Crypto market watchers are now eyeing a potential all-time high for Bitcoin within this quarter, if historical correlations between M2 and crypto prices hold true. Here is what you should know.
M2 Money Supply on the Rise: What It Means
Analysing M2 is a way economists use to track all the money that is easily available in an economy. M1 is the most basic form of money, which includes cash and checking accounts. M2 is a broader measure, which includes everything in M1 plus savings accounts, money market accounts and certificates of deposit.
A macroeconomic chart, shared on X by renowned crypto analyst Michael van de Poppe, shows that the M2 money supply is starting to rise again.
A sharp rise in the M2 money supply implies that there is a significant increase in the amount of easily accessible money in the economy.
Historical Correlation Between M2 and Bitcoin Prices
Historical market patterns indicate that there is a correlation between the M2 money supply index and the BTC price index.
Last time, while Bitcoin was inching towards an all-time high, the US was preparing to witness a political shift.
It was on January 20, hours before Trump’s inauguration, that the BTC market crossed the crucial $109K mark. Since January 21, the BTC market has declined by over 19.28%.
This crypto analyst also warns that if BTC rises with M2 supply, the global economy could see several unusual developments: decreasing bond yields, falling gold prices, declining dollar index, increasing CNH/USD, and rising altcoins.
The US 5-year Bond Yield sits at 4.021%, 10-year at 4.384%, 20-year at 4.862%, and 30-year at 4.821%. Since the start of this month, especially after the announcement of Trump’s tariffs, all these bond markets have seen steady growth.
Similarly, the Gold Spot market, which is currently priced at $3,222.885, has grown significantly during the period. On April 11, the market even touched an ATH of $3,244.
In conclusion, while a rising M2 supply brings renewed optimism for Bitcoin and the broader crypto market, investors must remain cautious. Correlations can shift and macroeconomic events may change course quickly. As analysts warn of ripple effects across asset classes, it is crucial to monitor the evolving data closely, Whether this is the start of a new rally or a temporary spike, the coming weeks will be decisive for BTC’s direction.
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A macroeconomic chart reveals that the M2 Money Supply is starting to rise again. Historical market patterns suggest that there is a correlation between the M2 Money Supply index and the Bitcoin price index. Crypto market watchers are now eyeing a potential all-time high for Bitcoin within this quarter, if historical correlations between M2 and …
Ethereum, the world’s leading blockchain platform, will deploy the Pectra upgrade on its mainnet, scheduled for rollout on May 7, 2025.
The Pectra upgrade enhances the network’s performance and scalability and introduces groundbreaking features, particularly with EIP-7702, making Ethereum more user-friendly and secure.
Ethereum Pectra Upgrade Timeline Confirmed
Tim Beiko, a key figure in Ethereum’s development team, announced on X that the Pectra upgrade will officially launch on the mainnet on May 7, 2025, at epoch 364032. Initially planned for April 30, the upgrade was delayed due to technical issues on the testnet.
This cautious approach shows Ethereum’s commitment to stability and security, ensuring seamless network operation post-upgrade. Coinbase has also begun preparations to support the upgrade, ensuring necessary updates are implemented promptly after Pectra’s launch.
Pectra is Ethereum’s most significant upgrade, incorporating 11 Ethereum Improvement Proposals (EIPs). It builds on major upgrades like Dencun (March 2024), focusing on improving Layer 2 (L2) scalability, optimizing validator experiences, and enhancing user-friendliness.
These changes solidify Ethereum’s leadership while laying the groundwork for decentralized applications (dApps) to thrive.
Tim Beiko: Key Highlights of the Pectra Upgrade
Tim Beiko tweeted an overview of the upcoming Pectra update, with some notable highlights. One of Pectra’s standout features is EIP-7702, which extends standard Ethereum accounts (EOAs) with smart contract functionality.
“EIP-7702 enables use cases like transaction batching, gas sponsorship, or social recovery, all without migrating your assets” Tim tweeted.
Pectra also introduces several improvements for validators. Validators can increase their effective balance up to 2048 ETH, allowing them to accrue staking rewards directly without creating additional validators. Large validators can consolidate balances, reducing bandwidth strain on the P2P network.
“It also removes the pre-merge PoW follow distance, shortening the delay to process validator deposits, and introduces execution-layer triggerable withdrawals, which enable more trustless staking constructions.” Tim shared.
The Pectra upgrade will double the average number of blobs per block, from 3 to 6. This increase will enable L2 solutions to scale faster, meeting growing market demands. It’s a critical step in Ethereum’s scalability roadmap, especially as L2 platforms like Arbitrum and Optimism continue to grow.
“Raising this limit was in part possible due to another EIP (7623), which bounds the worst-case block sizes on the network!’ Tim tweeted.
Significance for the Ethereum Ecosystem
Pectra is a strategic leap forward for Ethereum to maintain its dominance in the blockchain space. By increasing blob capacity and improving validator efficiency, Ethereum can handle more transactions per second, fostering dApp growth and attracting new users.
These changes will better position Ethereum to meet future demands while providing an infrastructure for developers.
The Pectra upgrade has garnered positive feedback from the Ethereum community. In Tim Beiko’s announcement, some X users expressed excitement. However, one user noted the need for better public education, stating, “Too bad 99% of people have no idea what that means.”
