Crypto大司马

On April 27, 2025, the cryptocurrency market welcomed an epic bombshell! The U.S. Securities and Exchange Commission (SEC) suddenly announced the approval of three XRP futures ETFs under ProShares Trust to officially list for trading on April 30. This news instantly ignited the entire internet, causing the XRP price to soar 37% within 24 hours and sending the entire crypto circle into a frenzy—note that the SEC's previous stance on cryptocurrency ETFs was notoriously strict, yet it has now rarely allowed the XRP futures ETF. What wealth secrets lie behind this 'regulatory easing'?

1. SEC Approval, XRP Faces a Turning Point in Fate

Since early April 2025, Bitcoin has surged from around $74,500 on the 4th to $94,000, with a 26% increase over half a month, sparking intense discussions in the market about the "full return of the bull market." However, Ethereum’s performance during the same period has been weak, fluctuating around $1,600 and even facing challenges from competitors like XRP and Solana. Behind this seemingly fragmented market pattern lies a deeper logic of policy, technology, and liquidity games.

1. Three major engines for Bitcoin's strong rebound

1. Milestone breakthrough in national strategic reserves
Former U.S. President Trump officially launched the "Digital Gold Strategy" on April 2, incorporating Bitcoin, XRP, and four other cryptocurrencies into national reserve assets and pressuring the global market by imposing cross-border transaction taxes on countries without reserves. Within 24 hours of the policy announcement, over 10 whale addresses increased their holdings by more than 50,000 BTC, pushing Bitcoin's daily increase to 8.3%. This policy not only reinforces Bitcoin's "digital gold" property but also marks the first systematic recognition of the strategic value of crypto assets by sovereign countries, creating a competitive landscape with traditional gold reserves.

In April 2025, Solana (SOL) returned to the focus of the crypto market with a strong performance of 13% weekly increase. After experiencing a 60% plunge from a high of $293 at the beginning of the year, SOL recently rebounded from around $110 to the $135 range, and the market discussion on whether it can break through the $200 mark has heated up again. This article will combine technical indicators, ecological dynamics and macro environment to deeply analyze SOL's short-term momentum and long-term potential.

1. Market Review: From Plunge to Recovery, SOL Shows Resilience
1. Price volatility and market sentiment
In January 2025, SOL hit a historical high of $293.31, but affected by macroeconomic policies (such as Trump's tariff shock) and FTX's bankruptcy and liquidation risks, the price fell all the way to around $117, a drop of more than 60%. However, the rebound in the past week showed that market sentiment was gradually recovering: SOL climbed from a low of $115 to $135, trading volume increased by 24.88% to $4.76 billion, and open interest rebounded simultaneously, suggesting that institutional funds have re-entered the market.

In the early morning of April 14, 2025, the cryptocurrency market experienced a shocking "black swan" event - MANTRA (OM), a star project in the RWA (real asset tokenization) sector, plummeted from around $6.2 to $0.3706 in just a few hours, a drop of more than 90%, and a market value of $5.5 billion evaporated. Although it rebounded to $1.2, this flash crash has completely destroyed investor confidence and caused a $58 million contract liquidation. This disaster not only exposed the high fragility of the cryptocurrency market, but also revealed the multiple risks of project control, liquidity traps and community trust crisis.

—— Decoding the short-term dividends and long-term risks of policy shifts.

1. Policy Turnaround: The dramatic shift from 'tariff nuclear bomb' to '90-day ceasefire.'

On April 9, 2025, U.S. President Trump announced on social media a 90-day suspension of 'reciprocal tariffs' on countries that had not implemented retaliatory tariffs and unified the existing reciprocal tariff rate to 10%. This decision was like a 'financial nuclear bomb,' instantly igniting global markets: the three major U.S. stock indices recorded historic gains, the Nasdaq soared 12.16% in a single day, Bitcoin broke through the $83,000 mark, and stock index futures in Asia-Pacific and Europe surged simultaneously. However, behind this policy shift is a life-and-death race of political and economic games—just two days prior, Trump threatened that if China did not cancel the 34% tariff, the U.S. would impose a 50% punitive tariff.