Real-time Bitcoin News Update: Price Volatility Intertwined with Policy and Institutional Dynamics
Updated on April 28, 2025
1. Price Dynamics: Bears Apply Pressure, Bitcoin Drops Below $94,000
Today, Bitcoin's price has retreated to around $93,000, facing challenges from bearish selling pressure, with over 100,000 liquidations across the crypto market in the last 24 hours, amounting to hundreds of millions of dollars. Despite a rebound from a low of $77,000 on April 7 to the $95,000 range, market sentiment remains affected by macroeconomic and policy uncertainties.
2. Key Policy Developments: Arizona's Bitcoin Reserve Bill May Vote Today
Two Bitcoin reserve bills in Arizona are set for final voting today; if passed, they will become the first state-level Bitcoin reserve bills in the U.S., potentially encouraging institutions to further adopt Bitcoin as a reserve asset.
3. Institutional and Product Trends
- Cboe Launches New Bitcoin Futures: The Chicago Board Options Exchange (Cboe) has launched a new Bitcoin futures product in collaboration with FTSE Russell, settling in cash and based on the XBTF index, which may provide institutions with more flexible risk hedging tools.
- Rumors of MicroStrategy Increasing Holdings: Market rumors suggest that MicroStrategy may increase its Bitcoin holdings today; although not officially confirmed, historical data shows that similar news has previously triggered short-term price fluctuations. Current on-chain data indicates that 62% of holders are in profit, with limited selling pressure.
4. Market Analysis and Institutional Perspectives
Bitwise CEO Hunter Horsley notes that the current Bitcoin price is mainly supported by institutional and national-level investors, with Google search interest nearing historical lows and retail participation remaining low. Technical analysis shows strong support in the $92,000-$100,000 range, with long-term holder (LTH) selling pressure declining to 1.1%, providing fundamental support for a bull market.
5. Risk Warning
A Nigerian court is hearing a tax evasion case against Binance today, with claims exceeding $79 billion; South Korea's 'Digital Asset Basic Law' policy will be released tomorrow, and regulatory trends may trigger market volatility. Investors need to pay attention to policy implementation and leverage risks.
