Overview of the crypto market on April 23, 2025: Bitcoin surpasses $94,000, strong capital flows return
The cryptocurrency market just had a rare explosive session, as investor sentiment was revived by a series of positive signals from the global economy and traditional financial markets. As of the morning of April 23, the total market capitalization of crypto reached nearly $2.94 trillion, an increase of over 6.7% in just 24 hours.
Bitcoin $BTC rose to nearly $94,000, marking the highest level in 2 months. The main reason is the massive inflow of capital into Bitcoin ETF funds, recording $912 million just yesterday – the highest since January 2025. Additionally, positive statements from the U.S. President and the easing of U.S.-China trade tensions have calmed market concerns.
Ethereum (ETH) is also not far behind, rising more than 11% to $1,814, accompanied by huge trading volume and expectations of breaking through significant resistance levels. XRP continues to draw attention, increasing nearly 9%, while Solana (SOL) and Dogecoin (DOGE) also recorded increases of 7.5% and 11%, respectively.
Derivative traders and institutional investors are beginning to return to the market with a more positive mindset. Short positions were liquidated en masse overnight, contributing to a quicker price rise. Meanwhile, the retail trading community is also closely monitoring the market, hoping for a new growth cycle.
In summary, after many weeks of gloom, crypto is showing signs of a vigorous recovery. While there are still risks ahead, confidence has returned — at least in the short term. The question is: will you observe… or act?
