On April 25, Bitcoin reached $95,030.17 with a 1.8% rise, while Ethereum hit $1,796.65. ARK Invest predicts Bitcoin could hit $2.4 million by 2030 amid growing institutional interest. BlackRock’s ETF was highlighted, along with updates on various altcoins including Solana and XRP. Trump’s $TRUMP coin surged 70%, while Switzerland’s central bank rejects Bitcoin as reserves. The CME Group announced XRP futures contracts. Nasdaq pushes for consistent regulations for digital assets.
As of 9:00 PM UTC on April 25, the crypto markets are showing a mix of activity. Bitcoin (BTC) finished the day at $95,030.17, representing a respectable 1.8 percent gain in the past 24 hours. Notably, it fluctuated between lows of $94,367.25 and highs of $95,563.75 during the day. Meanwhile, Ethereum (ETH) climbed two percent to close at $1,796.65 with a trading range of $1,772.18 to $1,819.79.
Interestingly, ARK Invest, a firm known for its bold financial predictions, has taken another look at Bitcoin’s future. They’ve upped their most optimistic price forecast for BTC from $1.5 million to an astounding $2.4 million by 2030. This shift is based on their belief in a growing interest from institutional investors and Bitcoin’s emerging role as ‘digital gold’. Their report, released on April 24, outlines various scenarios, emphasising that sustained institutional investment could drive Bitcoin to heights previously thought impossible.
In altcoin news, Solana (SOL) ended at $151.24, showing a slight decrease of 0.1 percent. It had a trading range from $150.90 to $155.18. XRP, on the other hand, traded at $2.19, suffering a minor drop of 0.6 percent, fluctuating between $2.19 and $2.22. Cardano (ADA) was also down, closing at $0.7127 with a 1.7 percent drop, ranging from $0.7099 to $0.7268.
In further developments, MicroStrategy’s Michael Saylor made headlines, predicting that BlackRock’s iShares Bitcoin Trust (IBIT) will soon overshadow all existing ETFs within a decade. This comes amid a record week for U.S. Bitcoin ETFs, which saw net inflows of $2.8 billion, with IBIT leading the pack. Analysts believe, however, that for IBIT to become the largest, it will need to consistently attract around $3-4 billion daily—a significant feat given today’s market conditions.
In a more quirky segment of the crypto world, Donald Trump’s $TRUMP meme coin skyrocketed more than 70 percent after he announced a private dinner for top token holders. This unexpected surge brings the coin’s market cap to about $2.5 billion, attracting much political and financial attention. Critics are dubbing the dinner a political stunt, while supporters see it as a novel approach to donor engagement.
Turning to institutional positions, the Swiss National Bank has firmly stated it will not include Bitcoin in its reserves, citing volatility and liquidity as primary concerns. This rejection follows calls from activists pushing for Bitcoin to be legally included alongside gold in their reserves. The bank’s stance shows the caution many institutions continue to have towards crypto assets.
In some good news for XRP enthusiasts, the CME Group is gearing up to launch XRP futures contracts, pending regulatory approval. This initiative is seen as a step towards further legitimising digital assets in mainstream finance, especially as demand among institutions grows.
Finally, Nasdaq called upon regulators to establish consistent regulations for digital assets, akin to those for traditional securities. They believe some cryptocurrencies should be treated as financial securities to ensure appropriate oversight. Their letter underlined the importance of a clear classification system to help navigate the evolving landscape of digital assets.
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Securities Disclosure: I, Giann Liguid, do not hold direct investment in any firm mentioned.
Securities Disclosure: I, Meagen Seatter, do not hold direct investment in any firm mentioned. The opinions expressed are solely those of the authors and may not reflect the views of Nasdaq, Inc.
