$TRUMP
Below are the key news highlights from the cryptocurrency market on April 24, 2025, covering price dynamics, policy trends, exchange activities, and market sentiment:
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📊 Market Conditions and Trends
• Bitcoin (BTC): Price slightly decreased by 1.2%, reported at $92,413, with market capitalization falling to $1.835 trillion and market dominance at 63.43%. Nevertheless, BTC still rose approximately 12% this week, surpassing Google and Amazon to become the fifth largest asset globally.
• Ethereum (ETH): Price decreased by 0.8% to $1,766. The recent Pectra upgrade introduced EIP-7732, which is expected to reduce transaction fees to $0.001, and the staking annual yield has rebounded to 4.2%.
• XRP: Price fell by about 4%. Analyst Edoardo Farina warned that selling XRP now might be a wrong decision, advising investors to wait for Ripple to announce details of its custody plan.
• Dogecoin (DOGE): Price dropped by about 4%, reflecting cautious sentiment in the market towards risk assets.
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🏦 Exchange and Institutional Dynamics
• Bitget: Upgraded its liquidity incentive program, offering top-tier market maker rebates for institutional traders, aimed at attracting more professional liquidity providers.
• MEXC: Recorded the fastest market share growth in the spot and derivatives markets during Q1 of 2025, demonstrating strong performance during market downturns.
• Toobit: Launched a cryptocurrency gifting feature on Telegram, allowing users to send cryptocurrencies directly through the chat application, enhancing user interactivity.
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🌐 Policy and Institutional Movements
• Sovereign Wealth Funds: According to a report by Coinbase, sovereign wealth funds are quietly accumulating Bitcoin, indicating growing confidence among institutional investors in crypto assets.
• Russia: Plans to launch an official Bitcoin and cryptocurrency exchange, a move that could have significant implications for the global crypto market.
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🧠 Market Sentiment and Technical Indicators
• Bitcoin Technical Indicators: Despite the occurrence of a golden cross between the 21-day and 50-day moving averages, new trend forecast signals indicate that BTC may face tests of support levels.
• Increase in Dormant Bitcoin Activity: In Q1 2025, trading volume of Bitcoin held for over seven years significantly increased, potentially signaling a shift in market participant behavior.
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