The crypto market holds steady at a capitalisation of $2.97 trillion. Bitcoin stabilises near $94,500, while Ethereum struggles at $1800. Options market favours bullish sentiment, with forecasts suggesting Bitcoin could significantly surge by 2030. The US Fed has relaxed restrictions on banks dealing with digital assets, marking a pivotal regulatory change.
The cryptocurrency market has been steady, with a capitalisation hanging around $2.97 trillion since last week. Though it reached its 200-day moving average, there’s a noticeable pause in momentum, particularly for Bitcoin, indicating a neutral sentiment among investors. Many seem to be cautiously positioning for further growth with longer stop-loss orders in place.
Currently, Bitcoin is stabilising around $94,500, fully rebounding to levels seen in February prior to a significant drop. The technical indicators suggest a bullish outlook, with BTCUSD comfortably above both the 50- and 200-day moving averages. The upward trend of these indicators, along with last week’s consolidation, reinforces this positive momentum in the market.
In contrast, Ethereum is facing challenges at the 50-day moving average, which is currently around $1800, marking its sixth day of resistance. Historically, ETH tends to react sharply around this level—rallying past it or facing pressure if it falls below. There’s also ongoing testing against the resistance line of a descending channel that has been an influence since late December last year.
In the background, QCP Capital highlights that call options on Bitcoin with strike prices of $95,000 for late April and May dominate the options market, signalling a robust risk appetite among traders. Additionally, recent comments from President Trump have eased concerns, particularly regarding Federal Reserve Chairman Powell’s tenure and proposed reductions on tariffs for Chinese imports.
Looking ahead, ARK Invest has made some bullish forecasts suggesting Bitcoin might soar to $2.4 million by 2030, bolstered by increased institutional adoption. In less optimistic scenarios, Bitcoin could settle at about $1.2 million or $500,000 depending on market performance. Their analysis included metrics like total addressable market and penetration rates.
Furthermore, 2025 is tipped to be pivotal for blockchain tech’s institutional uptake, particularly driven by stablecoins. Citigroup predicts that stablecoin capitalisation could hit $1.6 trillion in a base case—and even $3.7 trillion in a more bullish scenario—by the year 2030.
Lastly, in a significant regulatory shift, the US Federal Reserve has announced it will rollback guidelines previously restricting banks from engaging with digital assets, no longer requiring prior notification for banks concerning cryptocurrency transactions, which may encourage more financial institutions to participate in the crypto space.
