The crypto market today is seeing gains as Bitcoin price surge above $93,000, triggering a wave of excitement across investors. The sudden surge has many asking — why is the crypto market up today? The answer lies in a powerful mix of political optimism, institutional inflows, and renewed risk appetite.
Trade Optimism and Institutional Inflows Drive Rally
U.S. President Donald Trump and Treasury Secretary Scott Bessent made market-moving remarks hinting at potential relief in the U.S.-China trade war. Bessent called the current 145% tariffs “unsustainable” and suggested a de-escalation could be near. That was enough to boost investor confidence, not just in equities but also in risk-on assets like crypto.
Backing the momentum, Bitcoin spot ETFs saw $381 million in net inflows on Monday, the highest since January. The return of institutional money is a bullish signal, especially as MicroStrategy added another 6,500 BTC to its holdings — reinforcing long-term belief in Bitcoin.
SEC Shakeup, Altcoin Surge, But Caution Remains
Adding to the bullish sentiment, newly appointed SEC Chairman Paul Atkins has already dismissed several crypto enforcement cases. His pro-crypto stance is giving the industry fresh hope for a more innovation-friendly regulatory climate.
Meanwhile, Ethereum jumped above $1,700, Dogecoin surged 8.6%, and SUI spiked nearly 12%. Traditional markets also bounced back, with the S&P 500 and Nasdaq recovering from recent losses.
However,the liquidity and new demand remain weak compared to past bull runs, according to CryptoQuant. Resistance zones could still trigger pullbacks, but for now, the rally has reignited crypto market momentum.
Following several announcements regarding tariffs by Donald Trump, the crypto market has faced increased downward volatility. As a result, the price of Ethereum (ETH) dropped below the critical $2,000 mark, leading to a surge in long liquidations. Amid this, various on-chain metrics for Ethereum turned bearish, suggesting a drop in accumulation. However, analysts anticipate a strong rebound in the price of ETH ahead of the upcoming crypto summit.
Whale Pressure Drops Amid ETH’s Dip
Recent data from Coinglass shows equal trading activity as Ethereum remains under the $2,500 mark. In the past 24 hours, Ethereum faced a total liquidation of approximately $47.87 million, with buyers liquidating $28.1 million and sellers closing $19.7 million in short positions.
In the meantime, key investors are utilizing the opportunity to purchase Ethereum at lower prices, especially ahead of the upcoming White House Crypto Summit. Traders are particularly focused on the activity of wallet addresses associated with Trump-endorsed World Liberty Financial (WLF).
According to Arkham Intel, an on-chain intelligence firm, WLF’s wallet has tripled its Ether holdings within just one day. WLF has been actively buying up Ethereum during recent price dips. Reports from Arkham Intel reveal that as of Thursday, WLF holds approximately 7,100 Ethereum tokens, valued at over $80 million. This substantial increase from 2,500 tokens in just 24 hours highlights a strong accumulation strategy.
Data from IntoTheBlock reveals a significant decline in whale activity for Ethereum, coinciding with considerable losses due to Ethereum’s price drop. The count of whale transactions has notably decreased, falling from a high of 13.4K transactions to just 6.46K. Furthermore, there has been a drastic drop in the volume of large transactions, which plummeted from $11 billion to $5.5 billion.
This decline in whale pressure came following a negative trend in large holders’ unrealized profit. CryptoQuant data indicates that ETH whales, specifically those with holdings ranging from 1,000 to 10,000 ETH and from 10,000 to 100,000 ETH, have experienced a shift to negative unrealized profits.
What’s Next for ETH Price?
The ETH price recovered toward $2,300 as it faced buying pressure. However, it failed to surge further as bears strongly defended the resistance level. As of writing, Ethereum price trades at $2,200, dropping over 0.9% in the last 24 hours.
The ETH/USDT trading pair is struggling to approach the immediate resistance line at $2,530. This level could be a major obstacle as STHs might continue to liquidate here. However, buyers might soon break above that level as demand surges.
If the price holds below the EMA20 trend line on the 1-hour chart, the sellers will likely try to push it back down to $2K.
However, with the RSI level continuing to trade around the midline at level 45, it might trigger a retest of the resistance channel. If the price manages to hold above $2,530, it would favor the buyers. The trading pair could then increase to $2,935.
The post Whale Pressure Drops as Ethereum Faces Sharp Decline: Here’s the Impact on ETH Price appeared first on Coinpedia Fintech News
Following several announcements regarding tariffs by Donald Trump, the crypto market has faced increased downward volatility. As a result, the price of Ethereum (ETH) dropped below the critical $2,000 mark, leading to a surge in long liquidations. Amid this, various on-chain metrics for Ethereum turned bearish, suggesting a drop in accumulation. However, analysts anticipate a …
Recently, several crypto media outlets mistakenly reported that the SEC had approved ProShares’ XRP ETFs for an April 30 launch. The confusion stemmed from an old filing dated April 15, which resurfaced online and was incorrectly shared as a new development. Despite the rumors spreading quickly across social media, ProShares made no official announcement.
According to Bloomberg ETF analyst James Seyffart, while the U.S. Securities and Exchange Commission (SEC) has indeed given its approval, the launch date has been pushed back and is now expected sometime in the short to medium term. Meanwhile, Brazil has already taken the lead by approving the first XRP ETF.
ProShares Gears Up for Major XRP Futures Products
ProShares has ambitious plans for XRP exposure. The company is preparing to launch three XRP futures ETFs:
Ultra XRP ETF offering 2x leveraged returns
Short XRP ETF offering -1x inverse returns
Ultra Short XRP ETF providing -2x inverse exposure
These products are aimed at institutional investors looking for regulated ways to speculate on XRP’s price swings—without the complications of holding the asset directly. Futures ETFs also help bypass many of the security and regulatory hurdles typically associated with direct crypto ownership.
Teucrium Breaks Ground, ProShares Poised to Follow
Teucrium made history earlier this month by launching the first XRP futures ETF on the New York Stock Exchange on April 8. The fund saw encouraging trading volumes from day one, signaling strong market appetite for XRP-based investment vehicles. ProShares’ upcoming entries are expected to further deepen the XRP ETF market.
Spot XRP ETFs: Still in Limbo
While futures ETFs are gaining momentum, spot XRP ETFs remain stuck in the regulatory pipeline. ProShares, along with firms like Grayscale and 21Shares, is still waiting for the SEC’s green light. After facing initial delays in April, most applications are now looking toward a second decision window by late May. Some cases may not see a final verdict until mid-October.
Despite the uncertainty, optimism is building. JPMorgan estimates that XRP ETPs could attract between $4 billion and $8 billion in net inflows if they achieve adoption rates similar to Bitcoin and Ethereum ETFs.
The post ProShares XRP ETF Won’t Launch on April 30, Says Bloomberg Analyst James Seyffart appeared first on Coinpedia Fintech News
Recently, several crypto media outlets mistakenly reported that the SEC had approved ProShares’ XRP ETFs for an April 30 launch. The confusion stemmed from an old filing dated April 15, which resurfaced online and was incorrectly shared as a new development. Despite the rumors spreading quickly across social media, ProShares made no official announcement. According …
As the XRP price approaches key support levels, crypto analysts Casitrades forecast that the cryptocurrency is on the verge of a breakout. A potential surge in price could see XRP targeting levels as high as $6, with the conclusion of Wave 2 of its Elliott Wave pattern signalling a shift toward bullish momentum.
This technical analysis points to a possible market rally, especially if the XRP price maintains support above $1.90 or $1.55.
XRP’s Price Trend Points To Rally To $6
Currently, XRP’s price remains near the $2.08 level, consolidating between crucial support and resistance zones. According to Elliott Wave theory, XRP price appears to be finishing Wave 2, a corrective phase, with a possible reversal that could trigger a move higher. Crypto analysts Casitrade has spotted the $1.90 and $1.55 levels, where XRP has shown solid support in recent weeks.
For a sustained breakout, XRP needs to break and hold above the $2.24 resistance. This level is critical as it represents the 0.382 Fibonacci retracement. If XRP price can clear and hold above this price, analysts expect a sharp move toward the $6 target, $9.50 and $12, which aligns with the 1.618 Fibonacci extension.
A strong push above $2.24 would likely validate the breakout, allowing XRP to build on the current bullish momentum. Conversely, if the price struggles at this level and fails to maintain support, XRP could experience a brief pullback before making another attempt at higher targets.
Technical Indicators Point to Bullish Momentum
Early buy signals in the technical factors of XRP are pointing towards a bullish direction. The MACD histogram is green and the MACD line has recently crossed above the signal line, thus indicating a higher tendency for buying pressure. Concurrently, the Relative Strength Index (RSI) is still middle of the range, and that certainly provides some more room for price appreciation, if buying pressure persists.
Besides these, if XRP price is able to sustain above the $2.25 on the weekly chart, this will indicate a low at the $2.09 mark. According to analyst EGRAG CRYPTO, a full-bodied weekly candle above this price would confirm a bullish reversal, allowing XRP to target higher price zones such as $2.51 and $2.60.
However, short-term volatility has remained a concern despite such signals. Currently, there has been a remarkable increase in exchange inflows, with more than 55 million XRP moved to exchanges, which could put pressure on the sell-side in the market. However, analysts foresee a more positive, longer-term outlook for XRP due to the possibility of a Ripple ETF.
XRP ETF Approval Could Fuel Price Surge
Investor sentiment surrounding XRP is also being fueled by the growing excitement about a potential Ripple ETF. According to reports, analysts at JPMorgan are predicting that the approval of a Ripple spot ETF could bring in over $8 billion in institutional investments. This could trigger a surge in the price of XRP, potentially pushing it well above $6.
The approval of an XRP ETF is seen as a key development for the cryptocurrency, with analysts such as Zach Realtor suggesting that it could send the price toward $15. Such a move would also bring XRP closer to a $1.8 trillion market cap, making it one of the most valuable assets in the crypto space. The approval process for Ripple’s ETF is expected to unfold in the coming months, with the SEC set to make a decision on Grayscale’s XRP spot ETF filing by May 22.
In the meantime, Teucrium’s recently launched leveraged XRP ETF has already gained significant traction, attracting $27 million in assets. This growing interest in XRP-based products further strengthens the case for a potential ETF approval, which could provide the necessary catalyst for a significant price rally.
