First Trust Advisors has launched two Bitcoin (BTC) strategy exchange-traded funds (ETFs) designed to provide investors with Bitcoin exposure while capping losses and earning yield, the asset manager said. The move comes amid an outpouring of funds seeking to enhance Bitcoin’s appeal to traditional investors by offering tailored exposure to the cryptocurrency’s performance.The FT Vest Bitcoin Strategy Floor15 ETF (BFAP) is designed to track Bitcoin’s performance up to a capped upside while limiting drawdown risk to approximately 15%, First Trust said in an announcement.“Over the past few years, investors have shown a remarkably strong appetite for bitcoin-linked ETFs, but the potential for sharp drawdowns has kept many on the sidelines,” Ryan Issakainen, an ETF strategist at First Trust, said in a statement.First Trust launched two new Bitcoin strategy funds. Source: First TrustThe FT Vest Bitcoin Strategy & Target Income ETF (DFII) is an actively managed fund aiming to offer partial Bitcoin exposure while generating a yield that beats short-dated US Treasurys by at least 15%, according to the asset manager. The DFII fund “will seek to take advantage of bitcoin’s high volatility to generate income by selling call options,” Issakainen said. The BFAP fund also uses financial derivatives to hedge downside risk. Options are contracts granting the right to buy or sell — “call” or “put,” in trader parlance — an underlying asset at a certain price. Related: Trump-linked Strive files for ‘Bitcoin Bond’ ETFStructured Bitcoin fundsLaunched in January 2024, Bitcoin ETFs emerged as one of last year’s hottest investment products. As of April 4, spot BTC ETFs collectively manage approximately $93 billion in assets, according to data from Bitbo. Bitcoin ETFs saw outflows after US President Trump announced tariffs. Source: Farside InvestorsOther types of ETFs designed to offer tailored exposure to Bitcoin’s performance are also gaining popularity. On April 2, Grayscale — a cryptocurrency-focused asset manager — launched two Bitcoin strategy ETFs. Like First Trust’s ETFs, they use financial derivatives to optimize for downside risk management and income generation. In March, asset manager Bitwise launched an ETF holding stocks of companies with large Bitcoin treasuries. Spot BTC ETFs saw nearly $100 million in outflows on April 3 amid the heightened market volatility following US President Donald Trump’s tariff announcement of sweeping tariffs on April 2. Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29
Price analysis 4/4: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, TON, LEO, LINK
Bitcoin (BTC) price has managed to stay above the $80,000 level as volatility wrecked US stock markets on April 3 and April 4. The failure of the bears to capitalize on the opportunity shows a lack of selling at lower levels.Risky assets were rattled after US President Donald Trump announced reciprocal tariffs on several countries on April 2. The fall in the US markets deepened on April 4 after China announced a retaliatory tariff of 34% on all imported US goods starting April 10.While several market participants are concerned about the near-term impact of tariffs, BitMEX co-founder Arthur Hayes said he loves tariffs since he expects them to be positive for Bitcoin and gold in the medium term.Crypto market data daily view. Source: Coin360On the more cautious side was market commentator Byzantine General, who said in a post on X that the cryptocurrency market’s upside would be limited due to possible tariff responses. Capriole Investments founder Charles Edwards said in his analysis that Bitcoin would turn bullish on a break and close above $91,000. If that does not happen, he anticipates Bitcoin to fall to the $71,000 zone.Could Bitcoin outperform by staying above $80,000? Will the altcoins crumble? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price analysisBitcoin rose above the resistance line on April 2, but the long wick on the candlestick shows solid selling at higher levels. The price turned down sharply and broke below the 20-day exponential moving average ($84,483).BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe bears will have to sink the price below the $80,000 support to strengthen their position. If they do that, the BTC/USDT pair could retest the March 11 low of $76,606. Buyers are expected to defend this level with all their might because a break and close below $76,606 could sink the pair to $73,777 and eventually to $67,000.The crucial resistance to watch out for on the upside is $88,500. A break and close above this level will signal that the corrective phase may be over. The pair could then start its journey toward $95,000.Ether price analysisEther (ETH) has been trading between the $1,754 support and the 20-day EMA ($1,928) for the past few days.ETH/USDT daily chart. Source: Cointelegraph/TradingViewThat increases the likelihood of a break and close below $1,754. If sellers can pull it off, the ETH/USDT pair could start the next leg of the downtrend to $1,550.A minor positive in favor of the bulls is that the relative strength index (RSI) has formed a positive divergence. That suggests the bearish momentum may be weakening. If the price rebounds off $1,754, the pair could face selling at the 20-day EMA. However, if buyers overcome the obstacle, the pair could rally to $2,111. A short-term trend reversal will be signaled on a close above $2,111.XRP price analysisXRP (XRP) bears successfully defended the 20-day EMA ($2.23) on April 2 and pulled the price to the critical support at $2.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe downsloping 20-day EMA and the RSI below 44 increase the risk of a break below $2. If that happens, the XRP/USDT pair will complete a bearish head-and-shoulders pattern. The pair has support at $1.77, but if the level gets taken out, the decline could extend to $1.27.Buyers have an uphill task ahead of them if they want to prevent the breakdown. They will have to swiftly push the price above the 50-day simple moving average ($2.37) to clear the path for a relief rally to the resistance line.BNB price analysisBNB (BNB) bulls failed to push the price back above the moving averages in the past few days, indicating selling at higher levels.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe moving averages have started to turn down, and the RSI is in the negative zone, signaling a minor advantage for the bears. There is support at the 50% Fibonacci retracement level of $575 and next at the 61.8% retracement level of $559.On the upside, the bulls will have to push and maintain the price above the 50-day SMA ($614) to signal a comeback. The BNB/USDT pair may rise to $644, which is a critical overhead resistance to watch out for. If buyers overcome the barrier at $644, the pair may travel to $686.Solana price analysisSolana (SOL) rose above the 20-day EMA ($128) on April 2, but the bears sold at higher levels and pulled the price below the $120 support.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe downsloping moving averages and the RSI in the negative territory heighten the risk of a break below $110. If that happens, the selling could intensify, and the SOL/USDT pair may plummet to $100 and subsequently to $80.The bulls are unlikely to give up easily and will try to keep the pair inside the $110 to $260 range. Buyers will have to push and maintain the price above $147 to suggest that the selling pressure is reducing. The pair may then ascend to $180.Dogecoin price analysisDogecoin (DOGE) bears thwarted attempts by the bulls to push the price above the 20-day EMA ($0.17) on April 2.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewA positive sign in favor of the bulls is that they have not allowed the price to slide below the $0.16 support. A break above the 20-day EMA could push the price to the 50-day SMA ($0.19). Buyers will have to overcome the 50-day SMA to start a rally to $0.24 and later to $0.29.Alternatively, if the price turns down from the moving averages and breaks below $0.16, it will clear the path for a drop to $0.14. Buyers are expected to fiercely defend the $0.14 support because a break below it may sink the DOGE/USDT pair to $0.10.Cardano price analysisCardano (ADA) turned down sharply from the 20-day EMA ($0.69) on April 2 and closed below the uptrend line.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls are trying to push the price back above the uptrend line but are likely to face solid selling at the 20-day EMA. If the price turns down from the overhead resistance, the ADA/USDT pair could descend to $0.58 and then to $0.50.This negative view will be invalidated in the near term if the price turns up sharply and breaks above the 50-day SMA ($0.74). That opens the doors for a rally to $0.84, which may attract sellers. Related: Altcoins are set for one last big rally, but just a few will benefit — AnalystToncoin price analysisToncoin’s (TON) failure to maintain above the $4.14 resistance on April 1 may have tempted short-term traders to book profits.TON/USDT daily chart. Source: Cointelegraph/TradingViewThe TON/USDT pair broke below the 20-day EMA ($3.65) on April 3, indicating that the bullish momentum is weakening. There is support at $3.32, but if the level cracks, the pair may drop to $2.81.Instead, if the price rebounds off $3.32, the pair could attempt to form a range in the near term. The pair could swing between $3.32 and $4.14 for some time. A break and close above $4.14 will signal that the downtrend may be over. The pair could then jump to $5.UNUS SED LEO price analysisUNUS SED LEO (LEO) bears pulled the price below the uptrend line on March 2 but could not sustain the lower levels. That suggests buying at lower levels.LEO/USD daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($9.57) is turning down gradually, and the RSI is in the negative zone, signaling a slight advantage to the bears. If the price turns down from the moving averages, the bears will make one more attempt to sink the LEO/USD pair below the $8.84 support. If they succeed, the pair may tumble to $8.Contrarily, a break above the moving averages opens the doors for a rise to the overhead resistance of $9.90. If buyers pierce the $9.90 resistance, the pair will complete a bullish ascending triangle pattern. The pair may then climb toward the target objective of $12.04.Chainlink price analysisChainlink (LINK) once again turned down from the 20-day EMA ($13.98) on March 2, indicating that the bears continue selling on rallies.LINK/USDT daily chart. Source: Cointelegraph/TradingViewThe LINK/USDT pair has strong support in the zone between $12 and the support line of the descending channel pattern. A rebound off the support zone will have to rise above the moving averages to signal a stronger recovery toward $17.50.Sellers are likely to have other plans. They will attempt to pull the price below the support line. If they can pull it off, the pair could extend the downtrend toward the crucial support at $10 and, after that, to $8.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Crypto market bottom likely by June despite tariff fears: Finance Redefined
Despite growing tariff-related uncertainty, there is a 70% probability cryptocurrency markets will find the local bottom in the next two months, which will serve as the supporting foundation for the next leg up in the 2025 cycle, according to Nansen analysts.Savvy traders continue making generational wealth despite growing volatility and lack of risk appetite. One unidentified trader turned an initial $2,000 investment into over $43 million by trading the popular frog-themed memecoin, Pepe.70% chance of crypto bottoming before June amid trade fears: NansenThe cryptocurrency market may see a local bottom in the next two months amid global uncertainty over ongoing import tariff negotiations, which have been limiting investor sentiment in both traditional and digital markets.US President Donald Trump on April 2 announced reciprocal import tariffs, measures aimed at reducing the country’s estimated trade deficit of $1.2 trillion in goods and boosting domestic manufacturing. While global markets took a hit from the first tariff announcement, there is a 70% chance for cryptocurrency valuations to find their bottom by June, according to Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform.The research analyst told Cointelegraph:“Nansen data estimates a 70% probability that crypto prices will bottom between now and June, with BTC and ETH currently trading 15% and 22% below their year-to-date highs, respectively. Given this data, upcoming discussions will serve as crucial market indicators.”She added: “Once the toughest part of the negotiation is behind us, we see a cleaner opportunity for crypto and risk assets to finally mark a bottom.”Continue readingCrypto trader turns $2,000 of PEPE into $43 millionA savvy cryptocurrency trader reportedly turned $2,000 into more than $43 million by investing in the memecoin Pepe at its peak valuation, despite the token’s extreme volatility and lack of underlying technical value.The trader made an over 4,700-fold return on investment on the popular frog-themed Pepe (PEPE) cryptocurrency, according to blockchain intelligence platform Lookonchain.“This OG spent only $2,184 to buy 1.5T $PEPE($43M at the peak) in the early stage. He sold 1.02T $PEPE for $6.66M, leaving 493B $PEPE($3.64M), with a total profit of $10.3M(4,718x), Lookonchain wrote in a March 29 X post.Source: LookonchainThe trader realized over $10 million in profit despite Pepe’s price falling over 74% from its all-time high of $0.00002825, reached on Dec. 9, 2024, Cointelegraph Markets Pro data shows.PEPE/USD, all-time chart. Source: Cointelegraph Markets ProMemecoins are considered some of the most speculative and volatile digital assets, with price action driven largely by online enthusiasm and social sentiment rather than fundamental utility or innovation.Still, they’ve proven capable of generating life-changing returns. In May 2024, another early Pepe investor turned $27 into $52 million — a 1.9 million-fold return — according to onchain data.Continue reading$1 trillion stablecoin supply could drive next crypto rally — CoinFund’s PakmanThe global stablecoin supply may surge to $1 trillion by the end of 2025, potentially becoming a key catalyst for broader cryptocurrency market growth, according to David Pakman, managing partner at crypto-native investment firm CoinFund.“We’re in a stablecoin adoption upswell that’s likely to increase dramatically this year,” Pakman said during Cointelegraph’s Chainreaction live show on X on March 27. “We could go from $225 billion stablecoins to $1 trillion just this calendar year.”He noted that such growth, while modest compared to global financial markets, would represent a “meaningfully significant” shift for blockchain-based finance.Pakman also suggested that the rise in capital flowing onchain, combined with growing interest in exchange-traded funds (ETFs), could further support decentralized finance (DeFi) activity:“If we have a moment this year where ETFs are permitted to provide staking rewards or yield to holders, that unlocks really meaningful uplift in DeFi activity, broadly defined.”https://t.co/v9lOnk00QY— Cointelegraph (@Cointelegraph) March 27, 2025Continue readingAvalanche stablecoins up 70% to $2.5 billion; AVAX demand lacks DeFi deploymentAvalanche saw a significant surge in stablecoin supply over the past year, but the onchain deployment of this capital points to passive investor behavior, which may be limiting demand for the network’s utility token.The stablecoin supply on the Avalanche network rose by over 70% over the past year, from $1.5 billion in March 2024 to over $2.5 billion as of March 31, 2025, according to Avalanche’s X post.Market capitalization of stablecoins on Avalanche. Source: AvalancheStablecoins are the main bridge between the fiat and crypto world, and increasing stablecoin supply is often seen as a signal for incoming buying pressure and growing investor appetite.However, Avalanche’s (AVAX) token has been in a downtrend, dropping nearly 60% over the past year to trade just above $19 despite the $1 billion increase in stablecoin supply, Cointelegraph Markets Pro data shows.AVAX/USD,1-year chart. Source: Cointelegraph Markets Pro“The apparent contradiction between surging stablecoin value on Avalanche and AVAX's significant price decline likely stems from how that stablecoin liquidity is being held,” according to Juan Pellicer, senior research analyst at IntoTheBlock crypto intelligence platform.Continue readingDeFi TVL falls 27% while AI, social apps surge in Q1: DappRadarEconomic uncertainty and a major crypto exchange hack pushed down the total value locked in decentralized finance (DeFi) protocols to $156 billion in the first quarter of 2025, but AI and social apps gained ground with an increase in network users, according to a crypto analytics firm.“Broader economic uncertainty and lingering aftershocks from the Bybit exploit” were the main contributing factors to the DeFi sector’s 27% quarter-on-quarter fall in TVL, according to an April 3 report from DappRadar, which noted that the price of Ether (ETH) fell 45% to $1,820 over the same period.Change in DeFi total value locked between Jan. 2024 and March 2025. Source: DappRadarThe largest blockchain by TVL, Ethereum, fell 37% to $96 billion, while Sui was the hardest hit of the top 10 blockchains by TVL, falling 44% to $2 billion.Solana, Tron and the Arbitrum blockchains also saw their TVLs slashed over 30%.Meanwhile, blockchains that experienced a larger volume of DeFi withdrawals and had a smaller share of stablecoins locked in their protocols faced extra pressure on top of the falling token prices.The newly launched Berachain was the only top-10 blockchain by TVL to rise, accumulating $5.17 billion between Feb. 6 and March 31, DappRadar noted.Continue readingDeFi market overviewAccording to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red.The Pi Network (PI) token fell over 34%, logging the week’s biggest decline, followed by the Berachain (BERA) token, down nearly 30% on the weekly chart.Total value locked in DeFi. Source: DefiLlamaThanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
Bakkt investors file class-action lawsuit after loss of Webull, BoA contracts
A group of investors with cryptocurrency custody and trading firm Bakkt Holdings filed a class-action lawsuit alleging false or misleading statements and a failure to disclose certain information.Lead plaintiff Guy Serge A. Franklin called for a jury trial as part of a complaint against Bakkt, senior adviser and former CEO Gavin Michael, CEO and president Andrew Main, and interim chief financial officer Karen Alexander, according to an April 2 filing in the US District Court for the Southern District of New York.The group of investors allege damages as the result of violations of US securites laws and a lack of transparency surrounding its agreement with clients: Webull and Bank of America (BoA).April 2 complaint against Bakkt and its executives. Source: PACERThe loss of Bank of America and Webull will result “in a 73% loss in top line revenue” due to the two firms making up a significant percentage of its services revenue, the investor group alleges in the lawsuit. The filing stated Webull made up 74% of Bakkt’s crypto services revenue through most of 2023 and 2024, and Bank of America made up 17% of its loyalty services revenue from January to September 2024.Related: Bakkt names new co-CEO amid re-focus on crypto offeringsBakkt disclosed on March 17 that Bank of America and Webull did not intend to renew their agreements with the firm ending in 2025. The announcement likely contributed to the company’s share price falling more than 27% in the following 24 hours. The investors allege Bakkt “misrepresented the stability and/or diversity of its crypto services revenue” and failed to disclose that this revenue was “substantially dependent” on Webull’s contract.“As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages,” said the suit.Other law offices said they were investigating Bakkt for securities law violations, suggesting additional class-action lawsuits may be in the works. Cointelegraph contacted Bakkt for a comment on the lawsuit but did not receive a response at the time of publication.Prices affected by Trump Media reportsBakkt’s share price surged roughly 162% in November 2024 after reports suggested that then-US President-elect Donald Trump’s media company was considering acquiring the firm. As of April 2025, neither company has officially announced a deal.Shares in Bakkt (BKKT) were $8.15 at the time of publication, having fallen more than 36% in the previous 30 days.Magazine: Meet lawyer Max Burwick — ‘The ambulance chaser of crypto’
Codex to build stablecoin-only blockchain, disavowing ‘general-purpose’ chains — Report
Blockchain startup Codex has raised $15.8 million to build a layer-2 network specifically for stablecoins, signaling that more builders are rushing to capitalize on the growing industry and regulatory alignment around fiat-backed stable assets. The seed round was led by Dragonfly Capital, with additional participation from Coinbase, Circle, Cumberland Labs, Wintermute Ventures and others, Codex told Fortune. The funding will be used to help Codex build its stablecoin-only platform from the ground up, said co-founder and CEO Haonan Li.Source: Victor YawCodex has disavowed “general-purpose blockchains” because of their inefficiencies in meeting real-world use cases, said Li. Instead, Codex is building a stablecoin-only chain on top of Optimism, an Ethereum layer-2 scaling solution that uses rollup technology to boost transaction speeds and lower costs.Although details about the Codex chain were sparse, Li said the stablecoin solution aims to create a predictable fee structure that isn’t influenced by volatile blockchain activity. Codex is also aiming to build stablecoin off-ramps with existing cryptocurrency exchanges and local brokers, which would allow users to cash out their onchain assets for fiat. Related: Stablecoin adoption grows with new US bills, Japan’s open approachThe stablecoin “hunch” In 2023, Li had a “hunch” that stablecoins would be the next major blockchain growth story, which at the time “was a pretty contrarian view among these core crypto people,” he told Fortune. Codex co-founder Victor Yaw said the stablecoin market has grown 60 times in the last six years, but still only accounts for less than 2% of offshore US dollar deposits. “We haven’t even scratched the surface,” he said.Stablecoin demand has shown signs of resilience, growing in the face of adverse crypto market conditions. Although crypto markets plunged in the first quarter, stablecoin supplies increased by $30 billion during that period, according to crypto intelligence firm IntoTheBlock. The total stablecoin market capitalization now sits at nearly $230 billion. The vast majority of stable assets are backed by US dollars. The stablecoin circulating supply has grown by nearly 3% over the past 30 days. Source: RWA.xyzCodex isn’t the only stablecoin network to emerge from stealth this year. In January, a layer-1 network called 1Money raised $20 million to further develop its stablecoin payment platform. 1Money’s founder and former Binance.US chief Brian Shroder told Cointelegraph that the future of stablecoins will be “multicurrency,” with stable assets extending beyond the dominant US dollar. Growth beyond the US dollar will likely be fueled by “demand for localized stablecoin financial solutions and use cases,” said Shroder. Related: ‘We’re bullish on stablecoins,’ next-gen DeFi — Coinbase Ventures head
Circle considers IPO delay amid economic uncertainty — Report
Stablecoin firm Circle, the issuer of the USDC (USDC) dollar-pegged token, might delay its planned initial public offering (IPO) amid macroeconomic uncertainty over US President Donald Trump’s trade policies, the The Wall Street Journal reported.Circle registered with the United States Securities and Exchange Commission (SEC) on April 1 to take the company public. It is now “waiting anxiously” before taking further steps, the Journal reported, citing people familiar with the matter.Circle joins a growing list of companies considering IPO delays, including fintech company Klarna and ticketing firm StubHub.Circle’s S-1 registration form for its initial public offering. Source: SECCircle is planning to sell its shares under the ticker symbol "CRCL." Circle's prospectus materials do not provide details of the number of shares to be offered or the initial stock price.Circle's potential delay comes amid turmoil in the stock market as trillions in shareholder value dissipated following Trump's April 2 announcement of sweeping trade tariffs and investor fears that a protracted trade war could cause a global recession.Related: Trump 'Liberation Day' tariffs create chaos in markets, recession concernsTrump's protectionist trade policies crash markets Trump's tariff order established a 10% baseline tariff on all countries and reciprocal trade tariffs on countries that tax US imports.Over $2 trillion was wiped away from the US stock market on April 3 as investors pivoted from risk-on assets to less volatile alternatives as a response to the growing macroeconomic uncertainty.US stocks shed trillions in shareholder value following Trump’s sweeping tariff order. Source: TradingViewThe Volatility S&P 500 Index (VIX), a measure of stock market volatility colloquially named the "Wall Street Fear Index," is currently over 41 — an indication of extreme fear among stock market investors.Fears of a US recession continue to mount as other countries respond to the Trump administration's trade policies with counter-tariffs.ARK Invest founder Cathie Wood voiced concerns over a looming recession prior to the US President signing the tariff order.“We are worried about a recession. We think the velocity of money is slowing down dramatically,” Wood told an audience gathered for the Digital Asset Summit on March 18.Magazine: 7 ICO alternatives for blockchain fundraising: Crypto airdrops, IDOs & more
Bitcoin sentiment falls to 2023 low, but ‘risk on’ environment may emerge to spark BTC price rally
Bitcoin (BTC) sits in one of its least bullish phases since January 2023. According to Bitcoin’s “bull score index,” investor sentiment is showing its lowest reading in two years. Bitcoin bull score index. Source: CryptoQuantCryptoQuant’s “Crypto Weekly Report” newsletter explained that “bull score index” readings that sit below 40 for extended periods increase the likelihood of a bear market. The bull score remained above 40 throughout 2024, only dipping below this threshold in February 2025, as identified in the chart above. However, over the past 24 hours, Bitcoin price has displayed resilience when compared against the massive losses seen in the US stock market. On April 3, Bitcoin closed the day with a green candle, while the S&P 500 was down 4.5%, a historic first. The S&P 500 and Dow Jones extended their decline on April 4, dropping 3.87% and 3.44%, respectively, while Bitcoin held steady near the breakeven point. Related: Arthur Hayes loves tariffs as printed money pain is good for BitcoinIs Bitcoin near a risk-on phase?Data from CryptoQuant indicates that Bitcoin’s Value Days Destroyed (VDD) metric currently sits around 0.72, suggesting that Bitcoin price is in a transitional phase. Since 2023, such periods have preceded either price consolidation or renewed accumulation before a bullish breakout.Bitcoin value days destroyed. Source: CryptoQuantThe Bitcoin VDD metric tracks the movement of long-term held coins, and it has signaled a notable market trend since late 2024. The metric peaked at 2.27 on Dec. 12, signaling aggressive profit-taking and this dynamic matched the highs seen in 2021 and 2017. However, VDD dropped to 0.65 in April, reflecting a cooling-off period where profit-taking has subsided. This opens the possibility of a “risk-on” market for Bitcoin. In financial terms, a "risk-on" scenario occurs when investors embrace higher-risk assets like cryptocurrencies, often driven by optimism and mean reversions in trends. Amid ongoing market uncertainty that has been fueled by the US-led trade war, Bitcoin could unexpectedly gain from these tense conditions. Speaking on Bitcoin and the crypto market’s potential as a hedge against traditional market volatility, crypto trader Jackis said, “A reminder, this is not a crypto-driven drop but an overall risk-on, tariff, trade war-driven drop. While all of that is unfolding, it seems that crypto has likely undergone most of its downside already and has been lately absorbing all of the selling well.”Similarly, the Crypto Fear & Greed Index also exhibited a “fear” category with a score of 28 on April 4. The index registered an "extreme fear" score of 25 on April 3, suggesting that the current price may present a compelling buying opportunity.Crypto Fear & Greed Index. Source: alternative.meRelated: 10-year Treasury yield falls to 4% as DXY softens — Is it time to buy the Bitcoin price dip?This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
PayPal, Venmo to roll out Solana, Chainlink transfers
Global payments platform PayPal has expanded its cryptocurrency offerings to include Chainlink (LINK) and Solana (SOL), giving US-based users the ability to buy, sell and transfer the popular tokens. Support for LINK and SOL will be rolled out over the next few weeks and will also be extended to users of Venmo, a US mobile payment platform owned by PayPal, the company disclosed on April 4. Source: CointelegraphRoughly 83 million people used Venmo at least once in 2023, according to the latest available information from PayPal. PayPal’s global reach extends to roughly 428 million accounts as of December, the majority of which are in the United States. The company’s crypto services are available only to US residents. PayPal is expanding its crypto offerings in response to growing consumer demand, according to May Zabaneh, an executive in PayPal’s crypto and blockchain division.“Offering more tokens on PayPal and Venmo provides users with greater flexibility, choice, and access to digital currencies,” she said.PayPal’s US crypto offerings now include seven digital assets in total, including its payment stablecoin PayPal USD (PYUSD).Related: Tabit offers USD insurance policies backed by Bitcoin regulatory capitalPayPal’s stablecoin pushThe launch of PYUSD in 2023 solidified PayPal’s entry into the cryptocurrency market. Roughly one year after its launch, PYUSD surpassed $1 billion in total market capitalization for the first time. Since then, PYUSD’s circulating supply has fallen to around $760 million, according to industry data. PayPal’s US dollar-pegged stablecoin peaked at a market cap of more than $1 billion in August 2024. Source: DefiLlamaTo demonstrate the utility of PYUSD, PayPal settled an invoice with global consulting firm Ernst & Young in October for an undisclosed amount. At the time, PayPal’s senior vice president of blockchain, Jose Fernandez da Ponte, said “The enterprise environment is very well-suited” for stablecoin payments. Despite PYUSD’s modest circulating supply compared to stablecoin leaders USDt (USDT) and USDC (USDC), the company’s involvement in the sector cannot be understated, according to Polygon Labs CEO Marc Boiron.In an interview with Cointelegraph, Boiron credited companies like PayPal and Stripe for catalyzing stablecoin adoption at a time when regulators and enterprises were still uncertain about the technology. Magazine: Unstablecoins: Depegging, bank runs and other risks loom
Digital asset manager Grayscale registered with the United States Securities and Exchange Commission (SEC) to list the Grayscale Solana (SOL) Trust exchange-traded fund (ETF) on the New York Stock Exchange (NYSE).The ETF will trade under the ticker symbol "GSOL" and will hold spot SOL as the underlying asset, according to the April 4 S-1 filing.Grayscale announced plans to convert its existing Grayscale Solana Trust into an ETF in its 19b-4 application filed with the SEC in December 2024.The filing is among several crypto ETF applications in the United States following a regulatory shift in Washington DC, and Solana is widely expected to be the next digital asset ETF approved by the SEC.Grayscale Solana Trust ETF S-1 registration form. Source: SECRelated: Grayscale files S-3 for Digital Large Cap ETFSolana price slumps despite Trump’s attentionUS President Donald Trump in March announced the inclusion of SOL in the country’s first crypto reserve, alongside Bitcoin (BTC), Ether (ETH), XRP (XRP), and Cardano's native token ADA (ADA). Digital assets held in the reserve will be acquired through asset forfeiture and may not significantly contribute to demand for SOL or price appreciation."A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration" and include "made in America" cryptocurrencies, Trump wrote in a March 2 Truth Social post.Following the announcement, SOL's price declined to multi-week lows and is down approximately 60% since its all-time high of $295 recorded in January 2025.SOL's negative price performance reflects a broader downturn in the crypto markets brought on by fears of a prolonged trade war and the Trump administration's tariff policies.SOL has preformed poorly amid trade war fears and a broader downturn in risk-on markets. Source: TradingViewRisk-on assets tend to suffer during trade wars as investors flee volatile asset classes for more stable alternatives such as cash and government bonds.The approval of a Solana ETF could mitigate this price decline by giving traditional financial investors exposure to SOL and funneling capital from the stock market into the altcoin.Fresh investment capital pouring into SOL may prop up prices during general market downturns, making the altcoin more resilient to price shocks than digital assets lacking traditional investment vehicles.Magazine: Solana ‘will be a trillion-dollar asset’: Mert Mumtaz, X Hall of Flame
Bitcoin crash risk to $70K in 10 days increasing — Analyst says it’s BTC’s ‘practical bottom’
Analysts say Bitcoin (BTC) price could drop to $70,000 within the next ten days as one BTC pricing model suggests that the US-led trade war could upend investors’ risk-asset sentiment.In his latest X analysis, network economist Timothy Peterson warned that Bitcoin may return to its 2021-era all-time high.$70,000 is Bitcoin’s “practical bottom”Bitcoin price expectations continue to deteriorate as the impact of “higher than expected” US trade tariffs hits home.For Peterson, the outlook now includes an uncomfortable trip down memory lane.“Bitcoin to $70k in 10 days?” he queried.An accompanying chart compared Bitcoin bear markets and included Peterson’s Lowest Price Forward (LPF) metric — a historically accurate yardstick for gauging long-term BTC price bottoms.“While this chart is not a prediction, it does provide data-driven expectations for what Bitcoin could do,” he continued. “If it continues to track along the 75th percentile bear market range, then 70k would be the practical bottom.”Bitcoin bear market comparison with LPF data. Source: Timothy Peterson/XPeterson noted that the theory ties in with current LPF data, which last month said that BTC/USD was 95% certain to preserve the 2021 highs as support. Prior to that, the metric successfully delivered a $10,000 price floor in mid-2020, with Bitcoin never again dropping below it after September that year.Continuing, Peterson revealed probabilities for April which showed BTC price expectations in a state of flux.“Bitcoin went from 75% chance of having a positive month to a 75% chance of having a negative month in just 2 days,” he summarized alongside another proprietary chart.April BTC price expectations. Source: Timothy Peterson/XRelated: Bitcoin sales at $109K all-time high 'significantly below' cycle tops — GlassnodeBitcoin’s current price action is “often what a bottom looks like”The bearish outlook of Peterson’s model is far from the only bearish warning coming to light this week.As noted by onchain analytics firm Glassnode, many traders are attempting to shield themselves from further crypto market turmoil.“Puts are trading at a premium to calls, signaling a spike in demand for downside protection. This skew is most pronounced in short-term maturities - a level of fear not seen since $BTC was in the $20Ks in mid-’23,” it revealed in an X thread on April 4.Bitcoin options delta skew. Source: Glassnode/XGlassnode nonetheless acknowledged that while under pressure, current price performance does not constitute a post-tariff capitulation of the sort seen in stocks.“Despite this, $BTC hasn't broken down like equities did on recent tariff headlines. That disconnect - rising panic without a price collapse - makes the current options market setup especially notable,” it continued.“Skew like this usually appears when positioning is one-sided and fear runs high. TLDR: panic is elevated, but price is holding. That’s often what a bottom looks like.”This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
