Crypto Market Update – April 23, 2025

Market Overview:

Bitcoin (BTC): $93,395 (+5.78%)

Intraday Range: $88,027 – $93,723

Ethereum (ETH): $1,805.56 (+14.18%)

Intraday Range: $1,576.86 – $1,811.18

BNB: $619.05 (+3.06%)

Intraday Range: $600.19 – $619.33

XRP: $2.24 (+7.69%)

Intraday Range: $2.07 – $2.24

Cardano (ADA): $0.69576 (+11.38%)

Intraday Range: $0.6232 – $0.6995

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Key Developments:

Institutional Interest: Cantor Fitzgerald is launching a $3B Bitcoin venture called 21 Capital with support from SoftBank, Tether, and Bitfinex.

Political Support: Trump’s team is moving forward with MAGA-themed crypto ETFs via Trump Media & Technology Group.

Market Sentiment Boost: Trump’s reassurance about not firing Fed Chair Jay Powell has lifted both traditional and crypto markets.

Bitcoin's Resilience: During the current U.S. recession, BTC’s drawdown is only -30%, far less than the -75% seen during the 2020 COVID crisis.

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Technical Outlook:

BTC: Watch for a test at $88,605 support. Upside target is $101,505 if momentum continues.

ETH: Possible short-term pullback of 12% before resuming upward movement.

DOGE: Trading at $0.1795, up 10.86% in 24 hours; projected to hit $0.1947 by April 28.

Investor Sentiment:

Fear & Greed Index: Neutral (47)

BTC 24H Trading Volume: $45B – indicating strong market activity.