According to BlockBeats, QCP Capital noted in its market analysis on April 28 that the correlation between Bitcoin and gold and the stock market has changed. Initially, Bitcoin rose in sync with gold, but started to rise in sync with the stock market this week, influenced by news related to '21 Capital'. This change indicates that the traditional correlation analysis framework is no longer entirely applicable.
Market participants are concerned about the sustainability of Bitcoin's 'only up' trend. The options market saw a high volume of call options purchased, with over 500 contracts of $104,000 call options expiring on May 30, 2025, and 800 contracts of $135,000 call options expiring on June 27, 2025, traded last Friday. The rise in Bitcoin is driven by adoption from traditional financial institutions and non-speculative leverage. The perpetual contract funding rate remains stable or slightly negative, with Bitcoin spot ETFs experiencing six days of net inflow, totaling $3.1 billion. This week's important macroeconomic data and corporate earnings will test the sustainability of Bitcoin's upward trend.
● The cryptocurrency fear and greed index rises to 60, indicating a shift to a greedy state
According to ChainCatcher, the cryptocurrency fear and greed index today rose to 60, indicating a shift from 'neutral' to 'greedy' market conditions.
● Strategy increases its holdings of 15,355 Bitcoins at an average price of $92,737
According to Foresight News, Strategy purchased 15,355 Bitcoins at an average price of $92,737 from April 21 to April 27, 2025, with a total expenditure of approximately $1.42 billion.
● ETF issuer Teucrium will launch a reverse XRP ETF
According to ChainCatcher, Teucrium has announced plans to launch a reverse XRP ETF, allowing investors to profit from a decline in XRP prices, but a demand assessment is required. In addition, Teucrium has launched the first XRP exchange-traded fund in the U.S., the Teucrium 2x Long Daily XRP ETF, which provides twice the daily return of XRP through swap agreements, using European exchange-traded products as a reference rate.
● Ethereum Fusaka hard fork cancels EOF upgrade plan
According to reports from Wu Shuo, the Ethereum Fusaka hard fork is expected to occur in the third or fourth quarter of 2025. The originally planned EVM Object Format (EOF) upgrade has been canceled due to technical uncertainties and potential delay risks.
EOF aims to improve the execution efficiency of smart contracts and reduce overhead by standardizing bytecode structure, but its complexity and the expanded attack surface have sparked community controversy. Most users holding a large amount of ETH expressed opposition in the voting.
According to ChainCatcher, U.S. lawmakers returned to Congress after the Easter recess, prioritizing cryptocurrency legislation with the goal of completing the stablecoin and market structure bills before the August deadline set by President Trump.
The House Financial Services Committee and the Agriculture Committee will hold a joint hearing on May 6 to discuss the legislative blueprint for digital assets. The Senate is also working to integrate the content of the 2022 Lummis-Gillibrand bill and the FIT21 bill.
● The Arizona House of Representatives passes two bills allowing official reserves to invest in BTC
According to Odaily Planet Daily, the Arizona House of Representatives passed two BTC reserve-related bills, SB 1025 and SB 1373, which have been submitted for Governor Katie Hobbs' signature.
SB 1373 proposes the establishment of a digital asset strategic reserve fund managed by the state treasurer, funded by seized assets and legislative appropriations, allowing up to 10% of each fiscal year to be invested in BTC and other digital assets, with the possibility of lending without increasing risk.
SB 1025 allows the state treasury and pension systems to invest up to 10% of available funds in virtual currencies, focusing on BTC.
According to BlockBeats, on April 28, a joint poll by ABC News, The Washington Post, and Ipsos Group showed Trump's approval rating at 39% after his first hundred days in office, a decline of 6 percentage points since February, marking an 80-year low.
