Bitcoin price fluctuates around $84,500. From a technical perspective, the daily chart shows a breakout upward pattern, with the price stabilizing at the key resistance level of $84,000.
Ethereum: The price fluctuates around $1,600, down about 60% from the December 2024 high of $4,000, with generally pessimistic market sentiment.
Dogecoin: The price oscillates in the range of $0.13 to $0.15, with a decline of 6% in 24 hours, down about 70% from the 2024 high of $0.48. Technical indicators show oversold conditions, but a rebound requires volume support. The short-term core support is in the range of $0.13 to $0.15, and a break below could accelerate the decline.
XRP: The price soared 30% over the past week, with market research firms predicting an 800% growth by 2025, primarily based on technical market signals and expectations for U.S. exchange-traded funds (ETFs), although there are doubts about the sustainability of its price increase.
AERGO: After a tenfold price surge within a week, it plummeted 80% in one day, rising from $0.05 to $0.5 and then dropping to around $0.1, causing dissatisfaction among investors and significant fluctuations in community sentiment, highlighting the speculative risks of the crypto market.
Powell clearly stated that there is "room for relaxation" in banking cryptocurrency regulation policies, supporting stablecoin legislation, believing that the current market environment has matured. The OCC allows banks to provide cryptocurrency custody, stablecoin reserves, and other services without special approval. The House and Senate are accelerating the promotion of the (STABLE GENIUS Act), aiming to complete legislation by August, requiring stablecoins to have a 1:1 reserve and prohibiting interest earnings. The SEC's new regulations clarify that some stablecoins are not securities, but Tether may face compliance disputes.
Coinbase’s latest report indicates that extreme negative sentiment has emerged due to the implementation of global tariffs and the potential for further escalation, which may signal the beginning of a new "crypto winter." Although venture capital funding for cryptocurrencies increased in the first quarter of 2025 compared to the previous quarter, it is still 50%-60% lower than the levels during the peak of the 2021-2022 cycle, limiting new capital from entering the cryptocurrency ecosystem. The recovery path for the cryptocurrency market is fraught with challenges, but they hold an optimistic view for the market in the second half of 2025.
The Trump-associated meme coin TRUMP will unlock 40 million coins (20% of the circulating supply, valued at approximately $320-$400 million) on April 18, raising market concerns about selling pressure. However, Bloomberg reports that the Trump team may not sell immediately to avoid negative public opinion, and some analysts believe that short-term selling pressure could be hedged by market makers.
Summary: On April 17, 2025, the cryptocurrency market shows a pattern of bulls and bears with differentiation. From the capital market perspective, Coinbase holds a cautious outlook for the short term but is more optimistic for the second half of the year, with attention on institutional fund movements and ETF dynamics. Overall, the cryptocurrency market is complex and highly uncertain due to multiple influences from technical, fundamental, and news perspectives. Investors need to closely monitor the dynamics of key support and resistance levels and related policy updates, making cautious investment decisions.
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