CoinEx Research Institute released an April 2025 report stating that amid rising US-China tariff tensions, Bitcoin briefly dipped to $74,500. However, on April 9, former US President Trump announced significant policy adjustments, suspending most reciprocal tariffs for 90 days and imposing a 125% tariff on Chinese imports, leading to a rapid recovery in market confidence. Bitcoin rebounded strongly over 14% for the month, nearing $96,000, outperforming major stock market indices including the S&P 500. Meanwhile, Paul Atkins took over as SEC chairman, symbolizing a potentially more favorable regulatory direction in the US, further supporting Bitcoin's trend.
Technical Trends: Bitcoin Price and Dominance Hit Multi-Year Highs
In April, Bitcoin's trend was heavily influenced by fluctuations in US trade policy. At the beginning of April, it fell to $74,500 due to tariff tensions, but surged 7% within 24 hours after Trump's announcement of a delay, reaching $82,350. It then continued to rebound to the $90,000 range, with a high point touching $96,000 (as of April 25).
Source: TradingView; Data as of 28 April 2025
Technically, Bitcoin has broken through major resistance zones, re-entering the consolidation range of $90,000–$108,000. In the absence of new catalysts, it may exhibit sideways consolidation in the short term. Notably, Bitcoin's market dominance reached 64% in April, a four-year high, indicating that Bitcoin remains the market leader; if dominance cannot hold above 64%, it may fall back to 60%, providing relative performance opportunities for altcoins.
The Rise of Gold: Traditional Markets vs. Blockchain Gold Standard
Due to global geopolitical uncertainties, gold prices reached a historic high in April, breaking through $3,400 per ounce. Traditional investment tools like GLD and IAU remain mainstream, but gold tokens in the Web3 space (such as XAUT and PAXG) are gradually gaining attention. Currently, the total market value of blockchain gold products is around $2 billion, still only a small fraction of traditional gold ETFs (with a total market value of about $190 billion). This phenomenon reflects the rising 'hedging demand' in both worlds, and the market even anticipates that gold may challenge the $4,000 mark within the year.
New Trend in Bitcoin Staking: Earning Returns Without Selling
In the first quarter of 2025, the Bitcoin staking and restaking ecosystem is rapidly developing. Innovative protocols like Babylon, PumpBTC, and Lorenzo Protocol allow users to stake BTC and earn yields without needing to convert to altcoins or relinquish asset sovereignty. Although these solutions bring innovation and potential returns, there are still risks associated with smart contracts and centralization concerns, requiring investors to evaluate carefully.
Monad: The Rise of a High-Performance Public Chain Star
With just two months until the open testnet, Monad, a high-performance Layer 1 chain compatible with Ethereum, has garnered significant attention. As of now, over 16.48 million contracts have been deployed, and the number of wallets has exceeded 210 million. Monad employs parallel computing and pipelining architecture, aiming for 10,000 transactions per second (TPS) and 1-second finality, significantly enhancing scalability. Its EVM compatibility has also lowered the development barrier, attracting over 100 early projects across various fields, including DeFi, NFT, and infrastructure. It has gained support from well-known institutions such as Paradigm and Dragonfly Capital, with a community size exceeding 200,000. For more details, please refer to a recent article from the research institute: (From Topic to Value: Can Monad Testnet Extend to Mainnet?)
Stablecoin Fund Flows: Actively Accumulating but Not Fully Aggressive
In April, the total net inflow of stablecoins reached $64.8 billion, slightly lower than in March, but still maintaining a high level, indicating that funds continue to pay attention to the crypto market. Market experts believe this reflects the current consolidation phase, rather than a full bull market, with capital still waiting for clearer macro indicators to proceed further.
Outlook for May: Key Macro Indicators Will Lead Market Sentiment
As we enter May, key events influencing the market include the progress of US-China tariff negotiations, US inflation data, and the actions of major central banks. Investors are advised to closely monitor statements from regulatory agencies and international capital flows as important forward-looking indicators for assessing market turning points.
About CoinEx
CoinEx was established in 2017 by the well-known mining pool team ViaBTC, committed to creating a global cryptocurrency exchange that prioritizes 'user-first'. The platform supports over 1,300 types of crypto assets and has more than 10 million users from over 200 countries and regions. CoinEx is also one of the first platforms in the industry to introduce the Proof of Reserves (PoR) mechanism, ensuring 100% safety of user assets. Its native token CET serves not only as a platform incentive but also injects value into the overall ecosystem.
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