On April 25, Bitcoin crossed $93,000 driven by ETF inflows, while global crypto market cap reached $2.92 trillion. Stacks (STX) emerged as the top gainer, up 18.53 percent. Key altcoins like Ethereum, Ripple, and Litecoin showed mixed results. Analysts see a potential rise for Bitcoin, contingent on market conditions and ETF investment trends.
On April 25, the cryptocurrency market showcased an impressive surge, with Bitcoin (BTC) neatly surpassing the $93,000 mark, bolstered by considerable inflows into Bitcoin ETFs. The global market capitalisation reached $2.92 trillion, reflecting a 24-hour gain of 0.88 percent. Notably, altcoins like Ethereum (ETH), Solana (SOL), and Ripple (XRP) also displayed a positive trend, marking a state of neutrality in the overall Market Fear & Greed Index, which stabilised at 52 on a scale of 100.
As for Bitcoin specifically, its price is currently around $93,188.95, reflecting a modest gain of 0.56 percent over the last 24 hours according to CoinMarketCap. In India, the cryptocurrency’s price is reported at approximately Rs 73.34 lakh. Ethereum, however, struggled a bit at $1,767.17 with a slight loss of 0.10 percent, equating to Rs 1.38 lakh in the Indian market.
Dogecoin (DOGE) is enjoying a more optimistic outlook, jumping 4.20 percent to reach $0.1807; that translates to Rs 13.24 in India. Litecoin (LTC) also fared well, boasting a gain of 7.26 percent to trade at about $84.02, or Rs 6,727.30 in the Indian context.
Meanwhile, Ripple’s XRP price at $2.18 represents a minor decline of 0.16 percent, with Indian values echoing at Rs 179.83. Solana is faring relatively better, priced at $151.26, which shows a 2.12 percent uptick, equivalent to Rs 11,898.04 locally.
In terms of top gainers, Stacks (STX) took the lead in the last 24 hours, soaring an impressive 18.53 percent to $0.8936. Other notable gainers include Helium (HNT) with a 16.85 percent rise, Artificial Superintelligence Alliance (FET) witnessing a 12.52 percent increase, POL (POL) with a 12.50 percent gain, and Sui (SUI) climbing up by 12.38 percent.
On the flip side, AB (AB) fell by nearly 3.92 percent and is priced at $0.01056, which makes it the day’s biggest loser. Other losers are DeXe (DEXE) down 3.04 percent, Bitcoin Cash (BCH) losing 2.39 percent, Four (FORM) down 2.07 percent, and Uniswap (UNI) also slipping by 1.38 percent.
Experts are weighing in on these market movements. Alankar Saxena from Mudrex noted the strong performance of Bitcoin attributed to the recent influx of over $2.2 billion into Bitcoin ETFs this week. He suggests that a price breakthrough above $95,000 could trigger liquidations amounting to around $700 million, which might alleviate selling pressure and hint at further potential rises.
CoinSwitch noted that Bitcoin experienced a modest gain, remaining above significant moving averages while altcoins like Sui showed healthy gains as well. Traditional markets witnessed a rally too, with major US indices climbing amid optimistic commentary from the Federal Reserve.
Avinash Shekhar from Pi42 asserted that the market was showing signs of re-accumulation and growing investor confidence, especially with Dogecoin showing strength. Sathvik Vishwanath of Unocoin highlighted Bitcoin’s resilience near the $93,400 mark and noted increasing institutional interest, as seen by substantial ETF inflows.
Looking forward, the CoinDCX team observed that Bitcoin began the day on a bullish note, sending a message of potential bullish sentiment returning to the market, even as altcoins faced some bearish pressure. Overall, the crypto landscape looks vivid but requires careful observation as various cryptocurrencies ebb and flow in this dynamic environment.
