MLion

After several weeks of stagnation, the crypto market has finally welcomed a long-awaited warming signal. As global trade frictions gradually diminish, leverage sentiment has rapidly heated up in the market—USDT lending rates soared to 39%, setting a new high for the year, and the yields of short-term financial products across major platforms generally increased by 2 to 3 percentage points. The crypto market, especially altcoins, seems to be ushering in a wave of 'minor spring'.

Data shows that since April 8, the median increase among the top 100 tokens by market capitalization has reached 38%, significantly outperforming Bitcoin's 28% increase during the same period, indicating that the profit effect is accelerating from Bitcoin to altcoins. So, the question arises: does this mean that an altcoin bull market is about to make a comeback?

After a long period of market downturn and internal accumulation, the Ethereum Foundation finally welcomed a far-reaching reshaping in 2025.

On February 25, 2025, Aya Miyaguchi officially took office as the chair of the Ethereum Foundation; on March 17, Hsiao-Wei Wang and Tomasz Stańczak took on the role of joint executive directors. On April 28, the foundation released three heavyweight articles on its official website, systematically elaborating on the new management structure, Ethereum's future vision, and key work directions for the coming year. The Ethereum Foundation is embarking on a new journey with a refreshed posture.

In the context of increasing global attention on digital assets, Arizona has become the first state in the United States to establish a strategic Bitcoin reserve through legislation. On April 28, 2025, the Arizona House and Senate passed Senate Bill 1025 (SB1025) and Senate Bill 1373 (SB1373) with voting results of 31 to 25 and 31 to 25, respectively. These two bills authorize the state treasury to invest up to 10% of public funds in digital assets such as Bitcoin, aiming to diversify assets, hedge against inflation, and take a leading position in digital financial innovation.

After a brief volatility, the crypto market is witnessing a new round of explosive growth.

On April 28, **Bitcoin (BTC)** strongly broke through the $95,000 mark, currently reported at $95,032.01, with a rise of 1.4% within 24 hours.

Although market fluctuations remain evident, the overall market sentiment is quietly shifting from cautious to positive.

At this moment, it is particularly important to manage risk. Mlion.ai's data dashboard and capital monitoring features are essential tools to help users grasp market changes in real time and avoid sharp fluctuations.

The Ethereum Fusaka upgrade has been postponed, with core development routes adjusted.

On April 28, an important vote that could be recorded in the history of cryptocurrency development concluded in Arizona, USA—the state legislature passed a groundbreaking measure with nearly bipartisan support: to establish an official strategic Bitcoin (BTC) reserve.

If approved, this will make Arizona the first state in the U.S. and even the world to officially legislate and clearly authorize government departments to hold Bitcoin as a financial asset.

Contents and progress of the bill: Bitcoin officially enters public fund allocation

This bill, proposed by Republican Senator Wendy Rogers (SB1025), grants the state treasury the authority to invest a portion of public funds in Bitcoin.

The crypto financial company Nexo, which once exited the U.S. market due to regulatory pressure, is brewing a high-profile return.

At the recently concluded 'Trump Business Vision 2025' conference in Sofia, Bulgaria, Nexo officially announced its plan to re-enter the U.S. market. The special guest at this launch event was former U.S. President Donald Trump.

With the drastic changes in the crypto policy environment, Nexo is betting on the arrival of a new regulatory era, and behind this return lies not just a business decision, but a signal of deep binding between the crypto industry and U.S. policy.

After several weeks of sluggishness, the crypto asset investment market has reignited its flame. According to the latest data released by CoinShares, last week global digital asset investment products welcomed a net inflow of $3.4 billion, marking the third highest single-week inflow recorded, demonstrating a strong recovery in investor sentiment.

Bitcoin is undoubtedly the absolute protagonist of this recovery wave, while the long-silent Ethereum has also successfully reversed eight consecutive weeks of capital outflows, with the market atmosphere undergoing subtle yet profound changes.

Bitcoin reigns again, with safe-haven demand driving $3.18 billion inflow

Against the backdrop of a constantly reshuffling global crypto landscape, a significant meeting quietly took place in Abu Dhabi. The founding team of World Liberty Financial (WLFI) had in-depth face-to-face communication with Binance founder Zhao Changpeng (CZ), discussing the global expansion of cryptocurrencies, standard-setting, and the future of the industry.

WLFI stated on its X (formerly Twitter) account: "This is just the beginning." This simple statement reveals grand ambitions—they are driving a new wave of global crypto adoption.

As the traditional world is tumultuous, the crypto world is quietly accelerating its evolution. Multiple heavyweight news events on April 27 intertwined, making market sentiment particularly delicate: on one hand, President Trump's approval rating hits a near 80-year low, while on the other, the Ethereum community proposed a major overhaul of the application layer fee mechanism. This situation, deeply interlinked with the crypto space, is laying the groundwork for future market turbulence.

1. Trump's approval rating crashes, increasing uncertainty in US politics

According to the latest poll released by ABC News, The Washington Post, and Ipsos Group, Trump's approval rating after his first hundred days in office has dropped to 39%, a decrease of 6 percentage points since February, marking the lowest approval rating for any US president in the first hundred days in 80 years.

In the past two weeks, Bitcoin (BTC) has quietly carved out an independent and strong upward curve amid the turbulence of global financial markets.

From April 20 to April 26, BTC prices rose by 11%, stabilizing above $94,000, not only returning to a two-month high but also officially breaking through $95,000 today. Many people can't help but ask: this time, is Bitcoin really going to soar to a new historical high?

On the surface, this is a routine rebound, but delving deeper reveals that this round of increases hides several crucial variables that may quietly pave the way for Bitcoin's future move toward the $100,000 mark.

Bitcoin briefly broke through $94,000 this Wednesday, causing the entire crypto market to boil over, with retail traders flooding in and social media filled with optimistic expectations of '$100,000 is just around the corner.'

However, those with real experience are quietly sounding the alarm.

Data analysis company Santiment warns that the current surge in market sentiment could easily trigger a price correction in the short term. They stated on X (formerly Twitter):

“$100,000? It's very likely to come. But usually, it won't happen when everyone is frantically using the 🚀 emoji.”

Alongside the surge in FOMO (Fear of Missing Out) sentiment, the speculative atmosphere in the Bitcoin market is also intensifying. Santiment data shows that many retail investors are chasing prices, and historical experience tells us that this kind of retail FOMO often occurs before local peaks.

The Solana ecosystem has recently welcomed a massive influx of capital, with several listed companies entering the 'buy-buy-buy' mode, among which SOL Strategies Inc. was the first to announce the launch of a $500 million financing plan, with a clear goal: to raise funds through a convertible note mechanism and use this capital to purchase SOL tokens, which will then be staked through its independently operated validation nodes to earn considerable returns. This strategic layout not only deepens participation in the Solana blockchain but also signifies that the Solana ecosystem may welcome a new round of expansion and development.

1. SOL Strategies leads the capital wave, with an innovative financing model.

The accelerated 'capital absorption' by Bitcoin ETFs is no longer news but rather a 'structural transformation' that is underway. With a continuous net inflow exceeding $2.7 billion over five consecutive trading days, the ETF market is dominating Bitcoin's market trend. This is not just a peak of capital inflow but may also be the starting point of a bull market wave driven by institutions and ETFs.

1. Five consecutive days of gains: Bitcoin ETF net inflow exceeds $2.7 billion, institutional buying has returned

According to the latest market data, Bitcoin spot ETFs have maintained a strong net inflow momentum over the past five trading days, with a cumulative inflow of $2.759 billion. This figure not only breaks the single-week fundraising record since the beginning of the year but also indicates that the market is undergoing a fundamental shift in its capital structure.

When the 'Bitcoin Jesus' Roger Ver is accused of tax evasion and facing a century-long prison sentence, yet turns around to pay $600,000 to Trump's ally for lobbying, is this a desperate bid for survival, or a carefully planned political game? In an era where crypto and politics are deeply intertwined, the signals behind this should not be overlooked.

Against the backdrop of ongoing turbulence in cryptocurrency regulation in the United States, Roger Ver, once hailed as the 'Bitcoin Jesus,' finds himself once again at the center of controversy. This early Bitcoin evangelist and founder of Bitcoin.com is facing prosecution from the U.S. government due to allegations of mail fraud, tax evasion, and submitting false tax returns. According to official documents, he is accused of concealing assets, deceiving the IRS, resulting in at least $48 million in tax losses.

When the top 25 holders of a coin can dine with a former president, do you think this is a benefit? Or a carefully designed 'top-level harvesting' segment? The TRUMP token is putting on show after show of 'understanding king shows'; are you ready to take the challenge?

On May 22, Washington will host a seemingly luxurious yet meticulously designed 'presidential dinner' - Trump will appear as a guest, inviting the top 220 TRUMP token holders to the feast, with the top 25 enjoying exclusive VIP treatment, and a special White House visit arranged the next day.

If I told you that XRP's price has long been decided not by the market, but by 'behind-the-scenes players', would you believe it? What you see is $0.5, but what they see may be $4800.

During XRP's years of price fluctuations and legal battles, a theory that has been ignored by the mainstream is quietly spreading: the market price of XRP may not represent its true value, but rather a suppressed, locked, and 'tacitly accepted' facade.

The viewpoint was proposed by a crypto analyst who calls himself 'the Black Swan Capitalist'—Wassan Aljarrah. His perspective sounds unconventional yet is hard to completely refute.

If Tesla had never sold those 29,000 Bitcoins, do you know how much wealth it could have today?

Once upon a time, Tesla was one of the most symbolic banners of traditional enterprises embracing cryptocurrency. When Elon Musk publicly announced in February 2021 that Tesla had purchased $1.5 billion in Bitcoin, the crypto world experienced a historic moment. Bitcoin surged to $47,000, and the financial community erupted.

However, the peak of this crypto feast came quickly, and the turning point was abrupt. Within just a few months, this electric vehicle giant entered a cycle of 'buying—hesitating—selling', ultimately ending with a significant reduction and even a loss. A strategy that could have accumulated billions in long-term value was completely undermined by shortsighted actions in reality.

When hackers no longer simply 'vanish,' but instead start 'bargaining for returns' — is this a new paradigm of security in Web3, or a gray area of consent under regulatory absence?

Just as the crypto world frequently showcases the drama of hacker attacks and defenses, a recent security incident involving ZKsync ended in what seems to be a 'reconciliation' — the hacker returned over 5.7 million USD worth of stolen tokens within just a few days, keeping only 10% as a 'bounty' for leaving.

The ins and outs of this incident and its handling not only garnered widespread attention but also revealed a new shift in security governance in the Web3 era: the boundaries between hackers, protocols, and communities are no longer clear-cut, and interest coordination and consensus mechanisms are beginning to replace sheer crackdown and confrontation.

While Solana and Sui are racing to break through, Ethereum is still refining its technical ideals in the 'narrative stack.' Are you beginning to doubt whether the public chain king that once led the crypto revolution has been left behind by the times?

As Bitcoin approaches the $100,000 mark and new chains emerge endlessly, Ethereum seems to be in some kind of 'structural stagnation.' From on-chain activity to developer enthusiasm, from user experience to asset performance, Ethereum's performance increasingly resembles a 'behemoth' caught in a self-referential loop, continuously iterating technologically but struggling in the market.

When Bitcoin soared to $94,000, some were deploying bullish options while others were sweeping up in the spot market—while you are still hesitating if it's a top, others are already positioning for $100,000!

Bitcoin's price is standing at the threshold of a historical high. On one side, spot buying on exchanges like Binance continues to pour in, while on the other, bullish bets in the options market are becoming increasingly dense. At the same time, a deeper division is quietly unfolding on-chain: short-term holders are selling, while long-term holders are buying aggressively. The market appears lively but is brewing a structural turning point.