📊 Market Overview – April 29, 2025
Bitcoin (BTC) is trading at $95,084, marking a 1.42% increase over the past 24 hours. The cryptocurrency experienced an intraday high of $95,279 and a low of $93,634.
Ethereum (ETH) stands at $1,823, up 3.64%, with a high of $1,837.35 and a low of $1,757.48.
BNB is priced at $602.56, experiencing a modest rise of 0.39%, while XRP is at $2.29, up 0.44%. Cardano (ADA) trades at $0.711, reflecting a 3.02% gain.
🚀 Key Market Drivers
Institutional Inflows: Bitcoin ETFs saw net inflows of approximately $630 million, with BlackRock's iShares leading with $973 million. Ethereum ETFs also attracted significant attention, with inflows totaling $76.33 million.
Ethereum's Momentum: ETH's recent surge is attributed to increased on-chain activity and renewed interest in DeFi protocols. Analysts suggest that if the momentum continues, ETH could target the $3,500 level in the short term.
Bitcoin Futures Market: The annualized basis rate for Bitcoin futures stands at 7.66%, indicating a bullish sentiment among traders.
📈 Analyst Insights
Bitcoin Projections: Standard Chartered forecasts BTC reaching $120,000 by Q2 2025 and potentially $200,000 by year-end, driven by institutional adoption and macroeconomic factors.
Ethereum Whale Activity: A significant ETH holder recently sold 10,511 ETH worth $19.2 million at $1,828, possibly indicating short-term profit-taking or a bearish outlook.
🔍 Altcoin Highlights
XRP Futures Launch: CME Group plans to introduce cash-settled XRP futures on May 19, 2025, reflecting growing institutional interest in altcoins.
Memecoin Derivatives: Memecoins like DOGE, TRUMP, and PEPE each boast over $480 million in open interest, showcasing their prominence in the derivatives market.
📌 Stay informed and trade wisely!
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