Trading moment: The counterfeit market rebounds and generally rises, Bitcoin $97,000 encounters resistance in supply-intensive areas

1. Market Observation

Keywords: SOL, ETH, BTC

The macroeconomic environment is undergoing a significant shift. Cleveland Fed Chairman Hamack said the possibility of the Fed's interest rate cut in May is low, but if clear economic data is obtained before June, it may take a rate cut as early as June. She reiterated that the Fed intends to keep interest rates stable until more knowledge about the Trump administration's policies. On the same day, Federal Reserve Director Waller also said that tariffs are unlikely to trigger continued inflation and should be wary of overreaction, and emphasized that action will be taken if the labor market declines sharply. This is the first time the Federal Reserve has given a specific interest rate cut since Trump took office. The next Fed meeting will be held from May 6 to 7, and the market generally expects to maintain the status quo by then.

Bitcoin is currently fluctuating around US$94,000. Glassnode analysis pointed out that if Bitcoin wants to break through the US$100,000 mark, it must first overcome the intensive supply area of ​​about 392,000 Bitcoins at US$97,000. Crypto analysis company Swissblock also holds a similar view, believing that Bitcoin faces obvious resistance in the range of $94,000 to $95,000, and is expected to see a pullback in the range of $89,000 to $90,000 to accumulate further upward momentum, but based on the structural strength of Bitcoin, these pullbacks should be regarded as buying opportunities rather than trend reversals.

More and more listed companies are beginning to increase their holdings of Solana. Currently, the main listed companies that hold more SOLs are Sol Strategies (holding about 270,000 SOLs), Upexi (holding $100 million worth of SOL reserves), DeFi Development Corporation (formerly Janover, holding about 320,000 SOLs) and SOL Global Investments (holding 260,000 SOLs). It is worth noting that SOL's attractiveness to listed companies is far greater than ETH. In addition, Solana's on-chain activity has rebounded significantly, trading volume has increased significantly, and SOL is expected to challenge the $180 mark after breaking through $150. Many projects in the ecosystem performed well. After DARK was officially forwarded by Solana, it rose by more than 30% in 24 hours, with a market value exceeding US$40 million; DPCORE and NOBODY achieved a market value of up to US$10 million and US$30 million in 24 hours. At the same time, the altcoin market has generally risen, and the AI ​​sector and SUI ecosystem have performed outstandingly.

2. Key data (as of 12:00 HKT on April 25)

(Data source: Coinglass, Upbit, Coingecko, SoSoValue, Tomars, GMGN)

• Bitcoin: $93,213.44 (Year-Date-0.46%), daily spot trading volume $31.745 billion

• Ethereum: $1,765.13 (Year-Date--46.94%), daily spot trading volume is $14.265 billion

• Corruption Index: 60 (greed)

• Average GAS: BTC 1.01 sat/vB, ETH 0.67 Gwei

• Market share: BTC 63.3%, ETH 7.3%

• Upbit 24-hour trading volume ranking: ARDR, XRP, AERGO, TRUMP, BTC

• 24-hour BTC long-short ratio: 1.0157

• Sector rises and falls: DePIN sector rises 5.82%, and AI sector rises 4.93%

• 24-hour liquidation data: 114,152 people worldwide were liquidated, with a total liquidation amount of US$261 million, with a BTC liquidation of US$50.7 million, ETH liquidation of US$38.78 million, and ZEREBRO liquidation of US$23.55 million

• BTC medium and long-term trend channel: upper line ($89325.60), lower line ($87556.78)

• ETH medium and long-term trend channel: upper channel ($1688.80), lower channel ($1655.36)

*Note: When the price is higher than the upper and lower edges, it is a medium- and long-term bullish trend, and vice versa is a bearish trend. When the price passes through the cost range repeatedly in the range or in the short term, it is a bottom or top state.

3.ETF flow direction (EST as of April 24)

• Bitcoin ETF: $442 million

• Ethereum ETF: $63.49 million

4. Looking forward today

• US SEC holds the third roundtable for crypto policy to focus on hosting issues

• Binance will adjust the collateral rate of some assets such as ZEC and TWT on April 25

• Bose Ethereum can participate in pledge activities from now on

The biggest increase in the top 500 market value today: XYO rose 40.58%, CETUS rose 36.53%, INIT rose 34.94%, KEEP rose 28.41%, and PENGU rose 25.66%.

5. Hot News

• El Salvador increased its holdings by 1 Bitcoin, with a total holding of 6157.18

• ARK raises Bitcoin’s 2030 bull market target to $2.4 million

• Deloitte Report: Global real estate tokenization market may reach $4 trillion by 2035

• Mantle (MNT) is included in Coinbase Asset Roadmap

• Cumberland deposits 2,261 BTC to CEX, worth over US$200 million

• US SEC meets with Ondo Finance to discuss the compliant issuance of tokenized securities

• FLock.io announced that it will cooperate with Alibaba Cloud to create AI models, with FLOCK rising by nearly 48% in 24 hours

• CME announced plans to launch XRP futures on May 19, which will take effect after regulatory review is approved

• Polygon launches aggregator program, successful projects will airdrop 5%-15% of native tokens to POL stakers

• Ether.fi transforms into a new DeFi bank and launches cash cards in the United States

• Fed Hamack: If economic data is clear, the Fed may take action in June

• Securities launches new crypto index fund, backed by Mantle $400 million

• RockawayX, an early supporter of Solana, launches new $125 million fund

• The TOP10 giant whales on the TRUMP dinner lost 1.26 million US dollars, and the TOP1 giant whales are suspected to be Wintermute

• Deribit: $8 billion BTC and ETH options are about to expire, with the biggest pain point of BTC at $85,000

• SNX is listed on the transaction alert list by DAXA, Upbit suspends its deposit services for evaluation

• Binance will remove ALPACA, PDA, VIB and WING on May 2

• DeFi Development Corporation increases its holdings of approximately $9.9 million Solana

• Twenty One announces to launch with more than 42,000 BTC holdings

• SOL Strategies receives up to $500 million in convertible notes financing to buy more SOLs