Tron founder Justin Sun says he’s unaware of the recent rumors surrounding former Binance CEO Changpeng “CZ” Zhao, following reports alleging that Zhao provided evidence against him as part of his plea deal with the US Department of Justice (DoJ).
“I’m not aware of the circulating rumors. CZ is both my mentor and a close friend,” Sun said in an April 11 X post.
Sun brushes off CZ rumors
“He has played a crucial role in supporting me during my entrepreneurial journey,” Sun added.
Sun’s X post came just hours after speculation grew over an April 11 Wall Street Journal report, which alleged that Zhao agreed to provide evidence on Sun as part of his plea deal, citing sources familiar with the matter.
While Zhao is yet to publicly address the reports, Sun commended Zhao’s integrity and said that the DoJ is one of T3 Financial Crime Unit’s (T3 FCU) — which Tron co-founded along with Tether and TRM Labs — “closest and most trusted partners.”
“To this day, his conduct and principles remain the highest standard I strive to follow as a founder,” Sun said of Zhao. Sun added:
“Whether it’s CZ or our partners at the DOJ, we maintain direct, honest communication at all times. I have full trust in each and every one of them.”
Zhao walked free from a US federal prison on Sept. 27. With a reported net worth of approximately $60 billion at the time, Zhao is the wealthiest person ever to serve a prison sentence in the US.
Meanwhile, on Feb. 26, the US Securities and Exchange Commission and Sun asked a federal court to pause the regulator’s case against the crypto entrepreneur to allow for settlement talks.
In March 2023, the SEC sued Sun and three of his companies, the entity behind Tron, the Tron Foundation and the file-sharing platform backers the BitTorrent Foundation and its San Francisco-based parent firm, Rainberry Inc.
Cointelegraph reached out to the US Department of Justice but did not receive a response by time of publication.
Bitcoin maximalist Samson Mow has doubled up on his value criticism of Ethereum’s price, asserting ETH is still overvalued despite Bitcoin’s price almost quadrupling since 2022. The JAN3 CEO referred to the glaring disparity in performance between the two top cryptocurrencies over a near three-year span.
Price Gap Grows As Bitcoin Rises
According to data, Ethereum now sits at $1,558, essentially the same as its August 2022 price of $1,600. Meanwhile, Bitcoin has climbed from $21,500 to $82,302 – an eye-popping 270% rise. The widening gap has only served to bolster Mow’s contention that Ethereum’s price does not correlate with its fundamentals.
Mow re-tweeted his August 23, 2022 post this week to emphasize his steadfast stance. His criticism focuses on supply variations between the cryptocurrencies. Bitcoin has less than 21 million overall coins, while Ethereum boasts 122 million circulating tokens.
‘60% Minted Out Of Thin Air’ Claim Targets Ethereum’s Origins
Based on Mow’s quotations, about 72 million ETH tokens (approximately 60% of the supply) were premined at the time of Ethereum’s launch. Token creation before the start of public mining has been quite an issue for purists in cryptocurrency for some time.
Possibly, the Bitcoin maximalist suggested that if 21 million coins were all there would be in supply for Ethereum like in Bitcoin, then each ETH would be valued today at around $9,300. Mow is again targeting investors in Ethereum, saying they are paying too much for an asset whose supply is exaggerated.
Sensitive To Macroeconomic Forces
Ethereum recently fell to a multi-year low of $1,380 on the back of global tariff trade war tensions. The cryptocurrency bounced back immediately to $1,680 on April 9 after US President Donald Trump declared a three-month tariff tariff hike pause on various countries, with China being the exception.
These movements illustrate how both cryptocurrencies are still sensitive to macroeconomic forces even as they have different value propositions and market performances.
Long-Standing Campaign Against Ethereum Continues
This is not Mow’s first time criticizing Ethereum. He has been vocal against ETH for years. In November 2024, he cautioned investors that the fate of Ethereum could be the same as their favorite tokens.
Mow, who forecasts Bitcoin to hit $1 million this year, has told investors to sell everything, including Ethereum, and invest in Bitcoin instead.
The debate underscores deep-seated differences in cryptocurrency investment philosophies. While Bitcoin maximalists such as Mow focus on scarcity and Bitcoin’s “digital gold” status, Ethereum supporters highlight the platform’s smart contract abilities and wider applications ecosystem.
As the price differential between the two leading cryptocurrencies continues to expand, these debates regarding relative value and suitable pricing models draw greater interest from investors and market analysts in common.
Featured image from Reuters, chart from TradingView
On-chain data shows the large Bitcoin wallets have witnessed notable growth recently, a sign that confidence around the asset may be going up.
Bitcoin Wallets With 10+ Tokens Have Seen Their Count Go Up Recently
In a new post on X, the on-chain analytics firm Santiment has discussed about how the trend in the Supply Distribution has looked for the cryptocurrency’s key holders.
The “Supply Distribution” here is an indicator that measures, among other things, the number of wallets that belong to a particular group. The investors or addresses are divided into these cohorts based on the number of tokens that they are holding in their balance.
The 1 to 10 coins group, for instance, includes all investors who own between 1 and 10 tokens. In the context of the current topic, the coin range of interest is the 10+ coins one (with the upper limit being infinity).
At the current exchange rate, the cutoff for this range converts to around $821,000, so the only investors who would be able to qualify for it would be the large ones. Two key cohorts in particular fall in this range: the sharks and whales.
The influence of any entity in the market goes up the more coins that they hold, so the sharks and whales with their sizeable holdings can occupy an important spot in the ecosystem. As such, the trends related to them can be worth keeping an eye on.
The Supply Distribution allows for one such way to track these investors. Below is the chart for the indicator shared by the analytics firm that shows the trend in its value over the last few months:
As displayed in the graph, the Bitcoin Supply Distribution for the 10+ coins range was following a slight overall downtrend during the last few weeks, but in the past day, the metric’s value has seen a turnaround.
This suggests that the sharks and whales are now growing in number again. The reversal in the population of these large entities has come as US President Donald Trump has announced a 90-day pause on the tariffs for most countries.
The tariffs had earlier unleashed FUD on the market, leading to a crash for BTC and other digital assets. With the news of the pause, however, the coins have shown a rebound.
During the jump, wallets with 10+ coins have gone up by 132, which is the largest jump since February 20th. The analytics firm notes that this indicates “a higher level of confidence from crypto’s key stakeholders.”
It now remains to be seen whether the big-money investors would continue to buy into Bitcoin in the coming days or not.
BTC Price
At the time of writing, Bitcoin is trading around $82,100, down around 1% in the last week.
In a newly published chart analysis, crypto analyst Egrag (@egragcrypto) posits that XRP may be on the cusp of a significant price breakout reminiscent of its previous cycle peaks. The data, which spans from late 2013 through 2025, highlights multiple instances in which XRP went through a protracted bear market before staging an explosive rally. Two particular examples stand out in Egrag’s assessment: the 2017 surge in which XRP rose over 2,700% from its pre-rally price levels, and the 2021 run-up that saw the asset climb by more than 1,000%.
Egrag Predicts XRP Surge To $19–$45
The chart reveals a consistent framework that relies on the interplay between the 21-week Exponential Moving Average (EMA) and the 33-week Simple Moving Average (MA). These moving averages are shown crossing during bearish cycles and then eventually curving upward, implying the formation of a bottom.
Historically, XRP’s final bullish legs—often culminating in “blow-off tops”—began once the price retook the 21 EMA and the 33 MA, with the 777-day (and in one instance, 770-day) window before those bullish crosses recurring as a noteworthy time cycle. “Men lie, women lie, but charts don’t,” says Egrag. “I’m not improvising here; I’m relying on historical data to present future predictions. Will it rhyme exactly? No, because if it were that easy, everyone would be a multimillionaire!”
According to the chart, XRP has already mirrored some of the patterns seen in 2017 and 2021, a parallel that leads Egrag to posit two potential price targets if the token completes another blow-off top scenario. While he acknowledges various complicating factors, the analyst believes XRP could rally as much as 2,700%—taking the asset to approximately $45—or, in a more moderate iteration, 1,050% to just below $20. “Now, here’s my measured move: if #XRP mimics either of these cycles, we could see price movements of 2,700% or 1,050%, putting XRP around $45 or $19!” he notes, referencing the previous explosive expansions.
Egrag cites past cycles to support these targets, pointing to how XRP found support at the 21 EMA in 2017 just before launching into its last blow-off phase. In 2021, the coin rallied once it decisively broke above both the 21 EMA and 33 MA.
To underscore the method behind using both indicators, Egrag adds that “market makers use the same moving averages to see where support and resistance are and act against us. So I am using different moving averages—one is fast (exponential) and one is simple—to understand price action better.” He emphasizes these signals are lagging indicators but can still confirm whether market sentiment is shifting from bearish to bullish.
Notably, Egrag’s personal long-standing target for XRP has been $27. He underlines that nothing is guaranteed, especially in a market characterized by what he calls “human reactions and behaviors.” Quoting a line from the film Margin Call, he explains, “You cannot control it, stop it, or slow it, or even slightly alter it…you have to just react. Make a lot of money if you get it right, or you’ll be left by the side of the road if you get it wrong.” Yet he notes that it is wise to strategize selling—or “DCA (Dollar-Sell-Average)—if circumstances call for it, to mitigate risk.
A fast-tracked temporary crypto regulatory framework could bolster innovation within the US crypto industry while permanent regulations are still in the works, says acting US Securities and Exchange Commission (SEC) chair Mark Uyeda.
“A time-limited, conditional exemptive relief framework for registrants and non-registrants could allow for greater innovation with blockchain technology within the United States in the near term,” Uyeda said at the SEC’s April 11 Crypto Task Force roundtable titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading.”
Relief measures may address immediate challenges
Uyeda said this might be the short-term answer as the SEC works toward a “long-term solution,” at the roundtable with SEC members and crypto industry executives, including Uniswap Labs’ Katherine Minarik, Cumberland DRW’s Chelsea Pizzola, and Coinbase’s Gregory Tusar.
He flagged state-by-state regulation of crypto trading as a concern, warning it could lead to a “patchwork of state licensing regimes.”
Uyeda said that a favorable federal regulatory framework would ease the burden for market participants wishing to offer tokenized securities and non-security crypto assets, allowing them to operate under a single SEC license instead of navigating “fifty different state licenses.”
He urged crypto market participants to share feedback on areas where “exemptive relief” could be appropriate.
Uyeda also reiterated the benefits of blockchain technology in financial markets during the roundtable discussion.
“Blockchain technology offers the potential to execute and clear securities transactions in ways that may be more efficient and reliable than current processes,” Uyeda said.
Uyeda to fill chair position until Atkins is sworn in
“Blockchains can be used to manage and mobilize collateral in tokenized form to increase capital efficiency and liquidity,” he added.
Uyeda will continue serving as acting SEC chair until US President Donald Trump’s nominee, Paul Atkins, is officially sworn in.
Uyeda has served as acting SEC chair since Jan. 20, succeeding former chair and crypto skeptic Gary Gensler. He’s been widely seen within the industry as a pro-crypto advocate.
On March 18, Cointelegraph reported that Uyea said the SEC could change or scrap a rule proposed under the Biden administration that would tighten crypto custody standards for investment advisers.
“I have asked the SEC staff to work closely with the crypto task force to consider appropriate alternatives, including its withdrawal,” Uyeda said.
Crypto analyst El Crypto has raised the possibility of an altcoin season happening soon. The analyst alluded to Bitcoin’s dominance rising to a major rejection zone, which could be bullish for altcoins.
Altcoin Season May Be Imminent As Dominance Hits Major Rejection Zone
In an X post, El Crypto suggested that the altcoin season may be imminent as Bitcoin’s dominance hits a major resistance zone. He revealed that BTC’s dominance again touched a zone that has led to rejection every time in the last one and a half years. He added that the Stochastic Relative Strength Index (RSI) is also in the overbought area, while a bearish cross has now happened again.
Based on this, the analyst remarked that the market looks to be in for some fun, hinting at an altcoin season. Crypto analyst CryptoElites also affirmed that Bitcoin’s dominance has reached its peak. He further affirmed that next up is a massive altcoin rally, which will usher in the alt season.
In another X post, the crypto analyst alluded to the USDT and USDC dominance ratio. He claimed that the market was at a critical trend reaction point right now. CryptoElites then mentioned that if the stablecoins’ dominance breaks down, then the altcoin season will officially begin.
Crypto analyst Kevin Capital also looked to provide a bullish outlook towards the altcoin season. In an X post, he highlighted the global liquidity index overlaid with the Dogecoin price. In line with this, he remarked that it might be time for market participants to start paying attention to this.
So far, altcoins have been mirroring Bitcoin’s price action, suffering a similar downtrend amid the trade war. However, if the altcoin season were to kick into full gear, these altcoins could easily decouple from the flagship crypto and outperform. Ethereum is known to lead this altcoin season, but that may not be the case this time, as ETH has underperformed throughout this cycle.
Still Bitcoin Season For Now
Blockchain Center data shows that it is still Bitcoin season for now, as the flagship crypto continues to outperform most altcoins. In the past 90 days, only seven out of the top 50 coins have outperformed the flagship crypto. These coins include Mantra, GateToken, Monero, LEO, Tron, and FastToken.
For it to be altcoin season, 75% of the top 50 coins would need to outperform Bitcoin over the last 90 days. Although almost all coins have witnessed declines within this timeframe, BTC has suffered a 22% drop, which is less than what these altcoins have seen during this period.
At the time of writing, the Bitcoin price is trading at around $80,900, down over 1% in the last 24 hours, according to data from CoinMarketCap.
Cardano (ADA) is slowly but steadily catching the attention of market watchers as it begins to reclaim upward momentum. After a stretch of sideways movement and bearish pressure that left the altcoin range-bound, ADA is now displaying signs of revival.
The current price action might not be explosive, but it carries the hallmarks of a market quietly building strength one step at a time. This growing momentum suggests that bulls are gradually returning to the scene with renewed confidence.
While caution remains across the broader crypto landscape, ADA’s calculated pace might actually be a sign of strength rather than weakness. Instead of rushing into overbought conditions, the altcoin is laying a solid foundation that could support a more durable rally.
The Calm Setup For A Calculated Climb
In a recent post on X, crypto analyst Gemxbt pointed out that Cardano exhibited a bullish structure, as the price trends steadily above 5, 10, and 20-hour moving averages. This alignment of short-term moving averages typically signals sustained buying pressure and growing bullish momentum in the market. It also suggests that the bulls are maintaining control in the short term, keeping Cardano on a steady upward path.
Gemxbt’s observation reinforces that ADA’s recent price action isn’t just a temporary spike but rather a sign of strengthening technical foundations. When prices remain consistently above multiple key moving averages, it often reflects increased trader confidence and a favorable environment for further upward movement.
He further noted that a key resistance level lies around the $0.62 mark, which could act as a near-term hurdle for ADA’s price advance. On the downside, solid support has formed near the $0.56 level, providing a cushion against potential pullbacks. These levels are crucial in determining the next directional move, as a break above resistance could trigger further gains, while a fall below support might signal short-term weakness.
Gemxbt also highlighted that the Moving Average Convergence Divergence (MACD) indicator is currently crossing above the signal line, which suggests growing buying interest. This crossover typically marks the beginning of a momentum shift in favor of the bulls, increasing the likelihood of continued price appreciation.
Potential Breakout Possibilities: What To Watch For
If Cardano continues its upward trajectory and successfully breaks above the $0.68 resistance level, it could open the door to more gains. The next key levels to watch are at $0.81 and $0.90, where the price may encounter additional selling pressure. A break above these levels would push ADA toward even higher targets, such as $1.17 and $1.58.
However, if ADA fails to break through the $0.68 level and retreats, the first support to monitor would be around $0.56 to $0.52, which has historically acted as a strong floor. A drop below these levels could signal a shift in market sentiment and lead to a deeper pullback.
Bitcoin’s price recovered above $82,000 Friday following a decline below $75,000 in the past few days, as investors with large wallets purchased more of the digital asset. Market trends indicate wallets between 1,000 and 10,000 Bitcoin are expanding at a rate higher than the 30-day average, reports CryptoQuant.
Large Investors Display High Confidence In Bitcoin
The rise in the number of large crypto holders indicates rising confidence in the future of the cryptocurrency. These investors, usually not exchanges or mining pools, are important in maintaining the value of Bitcoin. Their increasing interest comes as Bitcoin’s market capitalization hits $1.58 trillion, with dominance over other cryptocurrencies at more than 60%.
Bitcoin recently hit $83,400 before correcting slightly to settle above $80,000. The increase in these high wallet balances is consistent with Bitcoin’s recent price gains, indicating market strength despite external pressures.
Large investor demand for Bitcoin is accelerating.
Balances of wallets holding 1K–10K BTC rising faster than their 30-day average.
Analysts Look To Price Gap Patterns For Future Projections
Some market observers have offered their predictions on what direction the top digital asset may take next. An X (formerly Twitter) analyst by the name of Enzy Bitcoin says that Bitcoin usually goes up after the filling up of price gaps. The analyst mentioned the latest gap between $70,000 and $75,000, that Bitcoin may reach $130,000 in the near future based on historical trends.
Another analyst, BitBull, equated Bitcoin’s stability to recent volatility in US stock markets. As the traditional markets have grappled with volatility, Bitcoin has remained firm above $80,000. Prices below $100,000 may still be acceptable entry points for investors, some experts say.
BTC Long-Term Target Extremely Positive
Looking further down the road, other market observers posted a very favorable prognosis for Bitcoin’s future only recently, emphasizing the significance of being cognizant of market cycles, particularly during pricing fluctuations like when in a bear trap.
The analysts’ projection reads as unusually bullish, that perhaps Bitcoin may get to a whopping $250,000 price tag. This vision also predicts meaningful growth for major alternative cryptocurrencies.
Market Cap Hits $1.58 Trillion While Recovery Keeps Momentum
The latest price bounceback of the flagship crypto has taken its aggregate market value to $1.58 trillion when this report was made. This follows its appreciation by over $8,000 from recent lows, demonstrating the capability of the cryptocurrency to bounce back quickly from temporary declines.
The market dominance of the cryptocurrency has also grown, currently standing at over 60% of the total crypto market capitalization. The dominance indicates that Bitcoin is the most popular cryptocurrency and continues to attract investors who desire growth as well as a store of value.
Although Bitcoin failed to sustain its short surge to $83,500, sustaining above $81,000 demonstrates resilience in the prevailing market environment. The fact that the buying continues from whales indicates that such investors believe prices will continue rising in the months ahead.
Featured image from BetaNews, chart from TradingView
A New York judge ruled Friday that the majority of New York Attorney General Letitia James’ civil securities fraud suit against crypto venture firm Digital Currency Group (DCG) and two of its executives can proceed to trial.
In 2023, James sued James sued DCG and its CEO Barry Silbert, DCG’s now-bankrupt lending arm Genesis Global Capital and its former CEO Michael Moro and crypto exchange Gemini, alleging that they worked together to cover up a gaping $1 billion hole in Genesis’ balance sheet caused by the wipe-out of Singapore-based crypto hedge fund Three Arrows Capital (3AC) in 2022.
James said DCG and Genesis made “false assurances” on social media that DCG had absorbed Genesis’ losses from 3AC’s implosion when, in fact, they had just papered over the hole with a promissory note, pleading to pay Genesis $1.1 billion over 10 years at a 1% interest rate. While DCG has adamantly maintained that the promissory note was legitimate, James’ suit claimed that DCG has “never made a single payment under the Note.”
While Gemini and Genesis both settled with the OAG, DCG, Silbert and Moro have fought them tooth and nail. Last spring, DCG and both executives filed motions to dismiss the suit, alleging that the Office of the Attorney General (OAG) had failed to state a claim — essentially arguing that they were not selling securities and thus should not be sued under New York State securities laws.
But the judge presiding over the case disagreed in her Friday ruling, writing that the OAG had, at least at the current stage of the case, adequately alleged that the Gemini Earn program — the now-defunct Gemini lending product that went belly-up in November 2022 and which sits at the center of James’ case — was a security.
Crane did, however, agree to toss out two of James’ claims against DCG, Moro and Silbert — one claim under New York’s Executive Law that they engaged in a scheme to defraud in the first degree, and another that they engaged in a conspiracy in the fifth degree — ruling that those claims were duplicative.
Though Crane ruled the case can proceed, DCG said it isn’t done fighting.
“As we have stated from the beginning, the allegations against DCG are a thin web of innuendo, mischaracterizations, and unsupported conclusions,” a spokesperson for DCG told CoinDesk. “We’re encouraged by the judge’s dismissal of the New York Attorney General’s most outrageous claims based on alleged violations of criminal fraud and conspiracy statutes. We will continue to fight this baseless lawsuit as we remain focused on our mission in support of the digital assets industry.”
Draft legislation in the US Senate threatens to hit data centers serving blockchain networks and artificial intelligence models with fees if they exceed federal emissions targets, according to an April 11 Bloomberg report.
Led by Senate Democrats Sheldon Whitehouse and John Fetterman, the draft bill purportedly aims to address environmental impacts from rising energy demand and protect households from higher energy bills, Bloomberg said.
Dubbed the Clean Cloud Act, the legislation mandates that the Environmental Protection Agency (EPA) set an emissions performance standard for data centers and crypto mining facilities with over 100 KW of installed IT nameplate power.
The standard would be based on regional grid emissions intensities, with an 11% annual reduction target. The legislation also includes penalties for emissions exceeding the set standard, starting at $20 per ton of CO2e, with the penalty increasing annually by inflation plus an additional $10.
“Surging power demand from cryptominers and data centers is outpacing the growth of carbon-free electricity,” notes a minority blog post on the US Senate Committee on Environment and Public Works website, adding that data centers’ electricity usage is projected to account for up to 12% of the US total power demand by 2028.
According to research from Morgan Stanley, the rapid growth of data centers is projected to generate approximately 2.5 billion metric tons of CO2 emissions globally by the end of the decade.
For Matthew Sigel, VanEck’s head of research, the proposed legislation effectively seeks to single out Bitcoin (BTC) miners and similar operations for energy consumption in a “Losing ‘Blame the Server Racks’ Strategy,” he said in an April 11 X post.
The draft law, which has yet to pass in the Senate, comes as Bitcoin miners — including Galaxy, CoreScientific, and Terawulf — increasingly pivot toward supplying high-performance computing (HPC) power for AI models, VanEck said.
Bitcoin miners have struggled in 2025 as declining cryptocurrency prices weigh on business models already impacted by the Bitcoin network’s most recent halving.
Miners are “diversifying into AI data-center hosting as a way to expand revenue and repurpose existing infrastructure for high-performance computing,” Coin Metrics said.
Comparison of miners’ AI-related contracts. Source: VanEck
“Aggressive tariffs and retaliatory trade policies could create obstacles for node operators, validators, and other core participants in blockchain networks,” Nicholas Roberts-Huntley, CEO of Concrete & Glow Finance, said.
“In moments of global uncertainty, the infrastructure supporting crypto, not just the assets themselves, can become collateral damage.”
Attorneys for the U.S. Securities and Exchange Commission and Binance asked a federal judge on Friday to continue a pause in the regulator’s case against the crypto exchange for another two months, citing “productive discussions.”
The SEC sued Binance in 2023, alleging the exchange — alongside its U.S. affiliate and executives such as former CEO Changpeng Zhao — violated federal securities laws by operating as an unlicensed clearing agency, broker and exchange. The SEC also alleged commingling and that Binance.US’s trading volume was manipulated. In February, after U.S. President Donald Trump retook office and appointed Commissioner Mark Uyeda as acting agency chair, the regulator asked for a 60-day pause in the case, which was set to expire on Monday. The SEC pointed to a newly created crypto task force aiming to draft clearer guidance around how securities law might apply to digital assets as part of its explanation for the requested pause.
In Friday’s filing, the attorneys involved said the discussions included “how the efforts of the crypto task force may impact the SEC’s claims,” and requested another 60 days’ pause.
“In light of these continued discussions and the time required for the staff to seek authorization from the Commission as necessary to approve any resolution or changes to the scope of this litigation, the SEC requested that the Defendants agree to continue the current stay for an additional 60 days, and the Defendants agreed that continuing the stay is appropriate and in the interest of judicial economy,” the filing said.
The XRP price may be gearing up for a historic breakout as a long-term Symmetric Triangle pattern from 2017 resurfaces on the charts. If history repeats and a similar explosive move follows, a crypto analyst predicts XRP could skyrocket to an eye-popping $30.
A new technical analysis by Egrag Crypto, a crypto analyst on X (formerly Twitter), has stirred excitement among XRP supporters, suggesting that the digital asset may be on the brink of a historic price surge and that XRP could jump from its current market value of $2 to reach $30 soon.
While this figure may seem rather ambitious, Egrag Crypto has identified a massive Symmetrical Triangle formation on XRP’s monthly chart. Interestingly, the analyst has revealed that this pattern is strikingly similar to one that preceded XRP’s legendary 2,600% rally in the 2017 bull market.
In the 2017-2018 bull market, XRP had surged to an all-time high of $3.84 in just months. Now, after years of tightening price action within a giant Symmetrical Triangle, the altcoin appears to be breaking out once again, and this time, the analyst predicts that the upside could be even more explosive.
According to Egrag Crypto’s chart, if the asset mirrors its previous 2,600% triangle breakout, it could soar from the breakout zone around $1.20 to as high as $32.36. Notably, XRP’s Symmetrical Triangle formation is a classic consolidation pattern that usually results in a bullish surge in the direction of the prevailing trend.
Currently, XRP’s all-time high is $3.84. A potential surge to $32.36 would represent a whopping 741.6% increase, propelling its price to a level far exceeding its historical peak.
Egrag Crypto’s bullish forecast for XRP is supported by a textbook diagram comparing bullish pennants and symmetrical triangles, both of which point to double target zones once a breakout occurs. The pattern suggests that once the altcoin escapes its multi-year consolidation, the analyst’s projected rally may play out in three stages: an initial pump, followed by a retracement, and a second explosive move.
The XRP price chart shows a lower target, around $3.52, which aligns with the 1.0 Fibonacci retracement level. This indicates that the token could see a temporary rebound to 3.52, followed by a short-term pullback to the triangle breakout point at $1.20, before ultimately bouncing toward the projected $32.36 target.
Notably, this movement aligns with XRP’s current market structure, where it has maintained long-term support and is now showing signs of upward momentum. While historical price patterns offer insights into potential moves, the predicted rise to $32.36 is uncertain, given the magnitude of such a rise.
The Lomond School in Scotland will accept Bitcoin (BTC) tuition payments beginning in the Autumn semester of 2025, making it the first school in the United Kingdom to do so.
Accepting Bitcoin is part of the school’s plan to integrate “sound money principles” from the Austrian School of Economics into the curriculum to “prepare students for the uncertain future,” the announcement reads, adding:
“Bitcoin is available to anyone willing to learn — making it more democratic and inclusive, particularly for people in developing nations who lack access to traditional banking. Lomond sees Bitcoin as a perfect real-world case study in economics, computing, ethics, and innovation.”
The school has no plans to accept other cryptocurrencies, and will convert the BTC to fiat currency immediately, according to the announcement. It might establish a BTC treasury in the future, pending input from the Lomond community.
Lomond’s announcement highlights the growing tide of institutions adopting Bitcoin as a hedge against inflation amid turmoil in the global financial order.
Value of the British pound (GBP) 1209-2025. Source: Statista
Bitcoin slowly makes its way through the education system
Bitcoin is now part of the curriculum in several schools and universities; some of these institutions have also adopted a BTC treasury strategy to protect reserves against the corrosive effects of inflation on purchasing power.
In 2022, the University of Cincinnati added crypto courses to its curriculum to teach students about BTC and emerging Web3 technologies.
Mi Primer Bitcoin, a Bitcoin education initiative, partnered with the Ministry of Education in El Salvador in 2023 to integrate Bitcoin education into the school system.
Visual of Bitcoin’s hard supply cap expressed through successive halving events. Source: River
The University of Wyoming launched the Bitcoin Research Institute in July 2024 to conduct peer-reviewed academic studies about the decentralized digital asset.
In February 2025, the University of Austin announced that its endowment fund allocated $5 million to BTC investments. The university’s endowment fund has approximately $200 million in assets under management.
Chun Lai, the endowment fund’s chief investment officer, said the fund wanted BTC exposure to capitalize on the financial upside of digital assets as crypto experiences increased institutional adoption.
Trump’s on-again, off-again import levies dominated the week. At the beginning, tariffs sent stocks and crypto appreciably lower. By the end, with all new non-China tariffs paused for 90 days, markets were up again.
Bitcoin returned to a level ($82,000) that it was at this time last week. And analysts debated whether, in the panic of the previous days, it showed “safe haven” qualities (like gold) or whether it was a risk-asset like many others. The consensus was that bitcoin performed resiliently rather than completely reassuringly.
Our Asia reporting team led the way on our markets coverage. Omkar Godbole started the week strong by revealing how the unwinding of the “basis trade” could impact bitcoin price. Sam Reynolds wrote on how Kalshi was set to win its legal battle in Nevada, hours before the prediction market got its first victory in the state. Shaurya Malwa reported on the first XRP ETF listing in the U.S. and how Teucrium’s leveraged fund received $5m during its first day of trading.
Ripple made headlines this week when it became the first crypto-native company to acquire a multi-asset prime broker, potentially setting the stage for wider adoption of its XRP Ledger technology.
The acquisition of Hidden Road didn’t come cheap, either, as Ripple doled out $1.25 billion for the brokerage. It was a price Ripple CEO Brad Garlinhouse was happy to pay as the company set its sights on global expansion.
Elsewhere, crypto exchange Binance listened to its community and moved to delist 14 tokens that no longer met its quality thresholds. Meanwhile, Binance’s former CEO, Changpeng Zhao, was appointed adviser for Pakistan’s newly formed crypto counsel.
All this happened against a backdrop of negative headlines and plunging crypto prices stemming from the US-led trade war, which culminated in President Donald Trump’s executive order establishing a 104% tariff on Chinese imports.
Despite the chaos, a panel of industry experts told Cointelegraph that the crypto bull market is far from over. In fact, it hasn’t even started yet.
Hidden Road: Ripple’s “defining moment”
Ripple’s $1.25 billion acquisition of Hidden Road is the payment company’s “defining moment,” according to Ripple’s chief financial officer, David Schwartz.
In a social media post, Schwartz said the acquisition gives Ripple a major boost in promoting its XRP Ledger since Hidden Road already has more than 300 institutional customers and processes more than 50 million transactions per day.
“Now, imagine even a portion of that activity on the XRP Ledger — and that’s exactly what Hidden Road plans on doing — not to mention future use of collateral and real-world assets tokenized on the XRPL,” said Schwartz.
Ripple has already dabbled in real-world assets (RWAs) by launching a tokenized money market fund in partnership with crypto exchange Archax. That could be the tip of the iceberg for the company’s RWA ambitions.
Binance’s purge continues
Cryptocurrency exchange Binance will purge 14 tokens from its platform on April 16 following its first “vote to delist” results, where community members nominated projects with troubling metrics.
The 14 tokens selected for delisting include Badger (BADGER), Balancer (BAL), Beta Finance, Status (SNT), Cream Finance (CREAM) and Nuls (NULS).
These tokens were removed after Binance conducted a “comprehensive evaluation of multiple factors,” including project development activity, trading volumes and responsiveness to the exchange’s due diligence requests.
Pakistan taps CZ to broaden crypto ambitions
Pakistan landed one of crypto’s biggest influencers as it attempts to promote industry adoption and lure blockchain companies to its shores.
On April 7, the newly created Pakistan Crypto Council (PCC) appointed former Binance CEO Changpeng “CZ” Zhao as its crypto adviser. Pakistan’s finance ministry said Zhao will advise the PCC on crypto regulations, infrastructure development and adoption.
CZ is appointed as an adviser by Pakistan’s Ministry of Finance. Source: Business Recorder
After being lukewarm on crypto, Pakistan is fully embracing the industry in recognition of its transformative impact. The country has become a hotbed of crypto activity thanks to rising retail adoption and remittance activity.
“Pakistan is done sitting on the sidelines,” said Bilal bin Saqib, the CEO of the PCC. “We want to attract international investment because Pakistan is a low-cost high-growth market with […] a Web3 native workforce ready to build.”
Crypto bull market hasn’t loaded yet
With investors wondering whether Bitcoin (BTC) and altcoins have already peaked, an industry panel told Cointelegraph’s Gareth Jenkinson that the best is yet to come.
Cointelegraph Managing Editor Gareth Jenkinson, left, hosts a panel on crypto market conditions in Paris, France. Source: Cointelegraph
Speaking at a LONGITUDE by Cointelegraph panel in Paris, France, MN Capital founder Michael van de Poppe said he believes the bull market “is actually getting started from this point.”
Drawing parallels between the recent market crash and the COVID-19 meltdown of March 2020, van de Poppe said the US Federal Reserve will eventually step in to backstop investors.
Fellow panelist and Messari CEO Eric Turner agreed, saying, “We never had a bull market,” but rather “two sides of the market” driven by Bitcoin exchange-traded funds and the memecoin frenzy.
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The US Federal Reserve is prepared to use its vast arsenal of monetary policy tools to prevent financial and economic conditions from deteriorating rapidly but will do so only if liquidity dries up or markets become disorderly, a top central banker said.
In an interview with the Financial Times, Boston Fed President Susan Collins said the central bank “would absolutely be prepared” to backstop markets if needed.
While it is generally understood that the Fed is always prepared to act quickly to stave off market chaos, Collins’ remarks come on the heels of asset selloffs across stocks and bonds, which have raised concerns about the health of the US financial system.
Overall, however, the Fed is “not seeing liquidity concerns,” said Collins. If that were to change, policymakers would have “tools to address concerns about markets functioning or liquidity,” she said.
The Fed’s Collins pictured in a December interview with Bloomberg. Source: Bloomberg Television
For investors, Collins’ comments may carry extra weight because she’s a voting member of this year’s Federal Open Market Committee (FOMC) — the 12-person panel responsible for setting interest rates.
While Collins and her fellow FOMC members voted to keep interest rates steady at their March meeting, the biggest takeaway was the central bank’s easing off on quantitative tightening by reducing the redemption cap on Treasurys by 80%.
Federal Reserve policy exerts a gravitational pull on global markets through US dollar monetary liquidity, or the ease with which dollars can be used for investments and transactions. Liquidity has a major impact on digital asset prices, including Bitcoin (BTC).
This was further corroborated by a 2024 academic paper by Kingston University of London professors Jinsha Zhao and J Miao, which concluded that dollar monetary liquidity “has [a] significant impact on Bitcoin price.”
The relationship strengthened after the COVID-19 pandemic, with liquidity conditions accounting for more than 65% of Bitcoin’s price movements.
“After the pandemic, [monetary liquidity] is the most important determinant of Bitcoin price, outperforming even fundamental measures of Bitcoin network,” the researchers said.
Macro analyst Lyn Alden reached a similar conclusion when she called Bitcoin “a global liquidity barometer” in a September article.
Alden drew attention to the relationship between Bitcoin’s price and global M2, or the broad measure of money supply across major global economies.
Bitcoin trades in the same direction as global liquidity more than 83% of the time. Source: Lyn Alden
As Cointelegraph reported in early March, an increase in global liquidity and a rebounding business cycle have historically had strong predictive powers for Bitcoin’s price. Liquidity and business cycle trends suggest that BTC’s price could be poised for a recovery in the second quarter.
Bitcoin (BTC) is entering what former BitMEX CEO Arthur Hayes calls “up only mode,” as a deepening crisis in the US bond market potentially drives investors away from traditional haven assets and toward alternative stores of value.
Loss of confidence in US policy boosts Bitcoin’s upside prospects
On April 11, the benchmark US 10-year Treasury yield surged above 4.59%—its highest level in two months.
US 10-year Treasury note yields daily performance chart. Source: TradingView
The $29 trillion US Treasury market has dropped more than 2% this week — its steepest decline since September 2019, when a liquidity crunch in the repo market forced the Federal Reserve to intervene.
US President Donald Trump’s unpredictable tariff announcements and reversals have fueled the chaos. After threatening sweeping levies on global trading partners, Trump walked back many of the measures within days for certain countries, except China.
The US dollar added to the pressure, with its strength against a basket of top foreign currencies—as tracked by the US Dollar Index (DXY)—dropping below the 100 mark for the first time since 2022.
US Dollar Index daily performance chart. Source: TradingView
That further notched its worst weekly decline in over two years.
In contrast, Bitcoin rose by over 4.50% amid the US bond market rout, reaching around $83,250 on hopes that the weakening macroeconomic conditions will push US policymakers to act.
“It’s on like donkey kong,” wrote Hayes in his April 11 X post, adding:
“We will be getting more policy response this weekend if this keeps up. We are about to enter UP ONLY mode for $BTC.”
Furthermore, bond traders are now pricing in at least three rate cuts from the Federal Reserve by the end of the year, with a fourth becoming increasingly likely. Rate cuts have historically been bullish for Bitcoin.
Target rate probabilities for December Fed meeting. Source: CME
Bitcoin eyes ‘parabolic bull run’ due to weaker dollar
Historically, sharp drops in the US Dollar Index have preceded delayed but powerful Bitcoin bull runs, according to crypto analyst Venturefounder.
“A falling DXY has typically been a strong bullish signal for Bitcoin,” the analyst wrote on X, pointing to a clear bearish divergence on the chart.
DXY vs BTC/USD monthly price chart. Source: TradingView/Venturefounder
He added that if DXY continues to slide toward the 90 level, it could replicate conditions that led to parabolic BTC rallies during the final stages of previous bull markets — each lasting up to a year.
Additionally, Bollinger Bands creator John Bollinger offered a bullish outlook for Bitcoin, noting that the cryptocurrency is forming a familiar bottom at $80,000.
Meanwhile, a maturing falling wedge pattern on the BTC price chart hints at a potential Bitcoin price rally toward $100,000, as Cointelegraph reported earlier.
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.
Betting against Ether has been the best performing exchange traded fund (ETF) strategy so far in 2025, according to Bloomberg analyst Eric Balchunas.
Two ETFs designed to take two-times leveraged short positions in Ether claimed (ETH) first and second place in a Bloomberg Intelligence ranking of the year’s top-performing funds, Balchunas said in a post on the X platform.
In the year-to-date, ProShares UltraShort Ether ETF (ETHD) and T Rex 2X Inverse Ether Daily Target ETF (ETQ) are up approximately 247% and 219%, respectively, Bloomberg Intelligence data showed.
The implications for Ether are “brutal,” Balchunas said. Ether itself is down approximately 54% year-to-date on April 11, according to Cointelegraph’s market data.
Both ETFs use financial derivatives to inversely track Ether’s performance with twice as much volatility as the underlying cryptocurrency. Leveraged ETFs do not always perfectly track their underlying assets.
With approximately $46 billion in total value locked (TVL), Ethereum is still the most popular blockchain network, according to data from DefiLlama.
However, its native token performance has sputtered since March 2024, when Ethereum’s Dencun upgrade — designed to cut costs for users — slashed the network’s fee revenues by roughly 95%.
The upgrade kept the network’s revenues depressed, largely because of difficulties monetizing its layer-2 (L2) scaling chains, which host an increasingly large portion of transactions settled on Ethereum.
“Ethereum’s future will revolve around how effectively it serves as a data availability engine for L2s,” arndxt, author of the Threading on the Edge newsletter, said in a March X post.
In the week ending March 30, Ethereum earned only 3.18 ETH from transactions on its layer-2 chains, such as Arbitrum and Base, according to data from Etherscan.
To fully recover Ethereum’s peak fee revenues from before the Dencun upgrade, L2’s transaction volumes would need to increase more than 22,000-fold, according to an X post by Michael Nadeau, founder of The DeFi Report.
Meanwhile, smart contract platforms — including Ethereum and Solana — suffered across-the-board declines in usage during the first quarter of 2025, asset manager VanEck said in an April report.
The diminished activity reflects cooling market sentiment as traders brace for US President Donald Trump’s sweeping tariffs and a looming trade war.
Bitcoin is facing a crucial test as its price continues to swing without clear direction, navigating a tense and uncertain macroeconomic environment. While volatility persists, many analysts believe the worst phase of the correction may be over. After dropping over 30% from its all-time high, Bitcoin has managed to hold above key support levels, reinforcing short-term optimism.
However, global tensions—driven by escalating trade disputes and aggressive tariff policies from the US—are shaking financial markets. The specter of a global recession looms large, making investors cautious across both traditional and digital asset classes.
Despite the noise, on-chain data from Glassnode adds a layer of optimism. According to their latest analysis, 63% of Bitcoin’s circulating supply has not moved in at least one year. This historic level of dormant supply highlights the growing conviction among long-term holders, who are weathering the current volatility without panic.
Such behavior reinforces the belief that Bitcoin’s foundation remains solid, even as short-term traders exit the market. The strong hands are holding firm, and their resilience could lay the groundwork for the next major move—once macroeconomic conditions begin to stabilize.
Bitcoin Holds Strong Amid Global Volatility: Rising Long-Term Conviction
Massive price swings continue to shake both crypto and equities markets as volatility intensifies in response to rising global tensions and unresolved macroeconomic threats. Bitcoin, however, has held strong above the $81K level, suggesting that a potential recovery may be taking shape.
The 90-day pause on U.S. tariffs—excluding China—offered temporary relief, but uncertainty still dominates investor sentiment. Ongoing trade conflicts between the United States and China threaten global economic stability, with many analysts warning of a potential recession if no resolution is reached. These fears are weighing heavily on risk assets across the board.
Despite the challenging backdrop, Bitcoin’s performance suggests underlying resilience. Bulls are gradually regaining momentum after the recent sharp correction, and many market watchers believe the worst phase of the drawdown may be over.
Adding to the optimism, top analyst Quinten Francois shared Glassnode data revealing that 63% of the Bitcoin supply has not moved in at least a year. This metric, often associated with strong long-term conviction, shows that the majority of Bitcoin holders are choosing to hold through volatility rather than sell into weakness. It reflects a maturing investor base with confidence in Bitcoin’s long-term value, even amid global uncertainty.
If current support levels continue to hold and macro conditions stabilize, Bitcoin may be on the verge of a sustained recovery.
BTC Price Stalls Below Key Resistance After Bullish Surge
Bitcoin is currently trading at $82,600 following a strong surge that helped the asset recover from recent lows. The move has brought some short-term optimism to the market, especially as BTC managed to reclaim the $81K level—a key support zone that now needs to hold for bullish momentum to continue.
However, significant resistance lies ahead. The price stopped near the 4-hour 200 Moving Average, currently sitting around $83,500. This technical level has consistently acted as a short-term barrier since Bitcoin lost the $100K mark, and bulls need a decisive breakout above it to confirm the beginning of a true reversal.
If Bitcoin can break and hold above $83,500, the next immediate target is the $85K zone. Reclaiming that range could open the path for a push toward the $88K–$90K resistance band and potentially resume the longer-term uptrend.
On the flip side, failing to hold above $81K would signal weakness and likely invite renewed selling pressure. A breakdown below $80K would reinforce bearish sentiment, possibly triggering a fresh wave of panic selling and sending BTC back toward the $75K support zone. Bulls must act quickly to defend current levels and push higher.
Featured image from Dall-E, chart from TradingView
Neel Kashkari, President of the Minneapolis Federal Reserve, addressed the issue of rising Treasury yields on April 11, suggesting that they might indicate a shift in investor sentiment away from United States government debt. Kashkari highlighted that the Federal Reserve has tools to provide more liquidity if necessary.
While underscoring the importance of maintaining a strong commitment to reducing inflation, Kashkari’s remarks signal a possible turning point for Bitcoin (BTC) investors amid growing economic uncertainty.
US Treasury 10-year yields. Source: TradingView / Cointelegraph
The current 10-year US government bond yield of 4.5% is not unusual. Even if it approaches 5%, a level last seen in October 2023, this does not necessarily mean investors have lost confidence in the Treasury’s ability to meet its debt obligations. For example, gold prices only surpassed $2,000 in late November 2023, after yields had already decreased to 4.5%.
Will the Fed inject liquidity, and is this positive for Bitcoin?
Rising Treasury yields often signal concerns about inflation or economic uncertainty. This is crucial for Bitcoin traders because higher yields tend to make fixed-income investments more appealing. However, if these rising yields are perceived as a sign of deeper systemic issues—such as waning confidence in government fiscal policies—investors may turn to alternative hedges like Bitcoin.
Bitcoin/USD (left) vs. M2 global money supply. Source: BitcoinCounterFlow
Bitcoin’s trajectory will largely depend on how the Federal Reserve responds. Liquidity injection strategies typically boost Bitcoin prices while allowing higher yields could increase borrowing costs for businesses and consumers, potentially slowing economic growth and negatively impacting Bitcoin’s price in the short term.
One strategy the Federal Reserve could use is purchasing long-term Treasurys to reduce yields. To offset the liquidity added through bond purchases, the Fed might simultaneously conduct reverse repos—borrowing cash from banks overnight in exchange for securities.
A weak US dollar and banking risks could pump Bitcoin price
While this approach could temporarily stabilize yields, aggressive bond purchases might signal desperation to control rates. Such a signal could raise concerns about the Fed’s ability to manage inflation effectively. These concerns often weaken confidence in the dollar’s purchasing power and may push investors toward Bitcoin as a hedge.
Another potential strategy involves providing low-interest loans through the discount window to give banks immediate liquidity, reducing their need to sell long-term bonds. To counterbalance this liquidity injection, the Fed could impose stricter collateral requirements, such as valuing pledged bonds at 90% of their market price.
Systemic risk in the US financial services industry. Source: Cleveland Fed
This alternative approach limits banks’ access to cash while ensuring borrowed funds remain tied to collateralized loans. However, if collateral requirements are too restrictive, banks might struggle to obtain sufficient liquidity even with access to discount window loans.
Although it is too early to predict which path the Fed will take, given the recent weakness in the US dollar alongside a 4.5% Treasury yield, investors might not place full trust in the Fed’s actions. Instead, they may turn to safe-haven assets such as gold or Bitcoin for protection.
Ultimately, rather than focusing solely on the US Dollar Index (DXY) or the US 10-year Treasury yield, traders should pay closer attention to systemic risks in financial markets and the spreads on corporate bonds. As these indicators rise, confidence in the traditional financial systems weakens, potentially setting the stage for Bitcoin to reclaim the psychological $100,000 price level.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
