The cryptocurrency market rebounded late on Monday as major cryptocurrencies registered substantial gains. As a result, the crypto market cap is up over 1% and currently sits at $2.69 trillion. Bitcoin (BTC) , which had dropped to a low of $81,432 on Monday, rebounded to reclaim $83,000 and push to a high of $83,755. However, it could not stay at this level and dropped to $82,299 before moving to its current level of $82,299. The flagship cryptocurrency is down almost 1%. Meanwhile, Ethereum (ETH) also rebounded after falling to a low of $1,782 to reclaim $1,800 and move to its current level of $1,850. The world’s second-largest cryptocurrency is up over 2%. Ripple (XRP) is also trading in the green, with the price marginally up at $2.10. Solana (SOL) is also marginally up and trading around $125, while Dogecoin (DOGE) is up over 2% and trading at $0.169. Cardano (ADA) is up 2.33%, while Toncoin (TON) is up over 5% and trading at $4.14. Chainlink (LINK) , Stellar (XLM) , Hedera (HBAR) , Polkadot (DOT) , Litecoin (LTC) , and other altcoins also registered substantial gains. Trump Family Pushes Further Into Crypto The Trump family is expanding its footprint in the crypto ecosystem, announcing an investment into a new Bitcoin mining venture. The news was announced by Eric Trump and Donald Trump Jr., who said they would be partnering with Bitcoin mining firm Hut 8 to create a new firm, American Bitcoin. Bitcoin mining is a lucrative niche of the crypto industry dominated by large companies that help process Bitcoin transactions. Donald Trump Jr. said in a statement, “From the start, we've backed our conviction in Bitcoin, personally and through our businesses. But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity. We’re excited to bring investors into that equation through a platform engineered to execute this thesis and deliver real, tangible participation in Bitcoin’s growth.” According to the agreement, Hut 8 will control 80% of the business, with the remaining 20% going to American Data Centers Inc., a company the Trump family has invested in. The Hut 8 announcement listed Eric Trump as a co-founder of the new venture and stated he would also act as its Chief Strategy Officer. The new crypto venture is the latest the Trump family has started over the past year. Donald Trump and his family started a crypto company, World Liberty Financial during the campaign. This was followed by the TRUMP and MELANIA meme coins, launched on the eve of the inauguration. The Trump family’s crypto ventures have created some of the most overt conflicts of interest in the history of the US Presidency. Trump has relaxed regulatory enforcement over crypto since taking office and has also announced the creation of a government stockpile of BTC and other digital assets. Terraform Labs To Launch Crypto Loss Claims Portal Terraform Labs has launched a Crypto Loss Claims Portal to allow investors impacted by the 2022 collapse of the TerraUSD stablecoin and associated assets to seek compensation. The claims portal will be managed by Kroll Restructuring Administration LLC and marks a critical step in the winding down of Terraform’s bankrupt estates. Creditors must submit their claims on the portal by April 30 2025 at 11:59 PM ET, or forfeit recovery eligibility. The claims will cover specific crypto assets impacted by the collapse of UST. However, LUNA 2.0 holdings and tokens under $100 in on-chain liquidity will be excluded. Kroll will publish a list of eligible assets on Kroll’s restructuring portal when the claims processes begin. According to Kroll, the process prioritizes “Preferred Evidence,” which includes read-only API keys from exchanges to expedite verifications. Any submissions that rely on “Manual Evidence” like screenshots or transaction logs could face prolonged reviews and a potential disallowance of Preferred Evidence is available. Kroll also stated that such claims could require individualized assessments, which could delay determinations. Creditors will receive an initial claim determination within 90 days of the deadline or a notice of extended review. Creditors can also raise disputes under the procedures outlined in the Crypto Loss Claims Terms. Bitcoin (BTC) Price Analysis Bitcoin (BTC) has rebounded this week after suffering a substantial decline last week, which saw the flagship cryptocurrency plunge below key support levels and moving averages, as bearish sentiment threatened to drive the price below $80,000. However, BTC held firm above this level as buyers stepped in to stem the decline. BTC is up over 1% during the ongoing session as buyers look to push the price higher. However, market experts are giving out mixed signals about BTC’s immediate trajectory. According to 10x Research, BTC could slip below $80,000 this week thanks to growing uncertainty around US tariffs and rising inflation, which could weigh on crypto and the broader financial market. According to 10x Research, hotter-than-expected core Personal Consumption Expenditures data suggests inflation remains a concern. Additionally, the shifting rhetoric around trade tariffs has also heightened market uncertainty. “Tariff Shock and Hot Inflation Data Derail Bitcoin Rally The Bitcoin rebound over the past three weeks has faltered, as hotter-than-expected core PCE data signaled rising inflation—driven in part by Trump’s tariff implementation— which appears to be weighing on consumer sentiment.” 10x Research also highlighted the upcoming US ISM Manufacturing PMI as a potential trigger for a further decline. If the data comes in weaker than expected, it could trigger more risk aversion in the market, which could impact the crypto market. However, Fidelity Research believes BTC is gearing up for the next leg of its “acceleration phase.” According to Fidelity analyst Zack Wainwright, BTC’s acceleration phases are characterized by “high volatility and high profit,” similar to the price action witnessed in 2020 when it first pushed above $20,000. BTC’s year-to-date return reflects a decline of 11.4%, with the flagship cryptocurrency down over 25% from its all-time high. However, Wainwright believes the recent post-acceleration phase aligns with BTC’s average drawdowns when compared with previous market cycles. According to Wainwright, BTC remains in an acceleration phase but is getting closer to the cycle's completion. “The acceleration phase of 2010 - 2011, 2015, and 2017 reached their tops on day 244, 261, 280, respectively, suggesting a slightly more drawn-out phase each cycle.” BTC started the previous week on a bullish note, rising almost 3% on Sunday to move past the 20 and 200-day SMAs and settle at $86,116. BTC surged to an intraday high of $88,839 on Monday as bullish sentiment intensified. However, it could not stay at this level and settled at $87,523, ultimately registering an increase of almost 2%. BTC lost momentum after reaching this level as it encountered selling pressure and volatility. As a result, the price registered a marginal decline and settled at $87,417. BTC registered another marginal decline on Wednesday, slipping below $87,000 and settling at $86,942. Despite the bearish sentiment, BTC registered a marginal increase on Thursday to reclaim $87,000 and settle at $87,236. Source: TradingView However, bearish sentiment intensified on Friday, and BTC fell over 3%, slipping below the 200-day SMAs and settling at $84,422. Sellers retained control on Saturday as BTC fell over 2.03%, going below the 20-day SMA and settling at $82,704. Price action remained bearish on Sunday, with the price registering a marginal decline and settling at $82,404. BTC started the current week facing considerable volatility as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as BTC registered a marginal increase to settle at $82,511. The current session sees BTC up over 1% and trading around $83,500 as buyers look to build momentum and push towards $85,000. The RSI is just below the neutral zone but pointing upwards, indicating a rise in buying pressure. If BTC can move past $85,000 and the moving averages, it could push toward $90,000. Ethereum (ETH) Price Analysis Ethereum (ETH) has started the current week positively after registering a substantial decline last week, falling below the key $2,000 level and the 20-day SMA. The world’s second-largest cryptocurrency has registered a drop of over 17% in the past month, with key resistance levels emerging as crucial points. Analysts believe ETH could spark a reversal if it moves past these levels. According to an analysis by crypto analyst Ali Martinez, two price points are crucial for ETH’s immediate future. The first level is $2,100, which Ali views as a necessary threshold that could initiate a new upward trend. However, he regards $2,300 as a more decisive level that could confirm a bullish reversal. However, ETH sits far from both levels. The levels to watch at the lower end are $1,600 and $1,155, which could indicate a new downtrend and a deep correction. Such substantial declines would represent an additional decline of over 12% and 37% respectively and would mark a continuation of ETH’s worst first quarter in history. ETH’s recent price action has been bearish despite making a positive start to the previous week. ETH registered a 1.33% increase on Sunday and rose to $2,007. Bullish sentiment intensified on Monday as ETH rose almost 4%, moving past the 20-day SMA and settling at $2,082. However, ETH lost momentum after reaching this level and registered a marginal decline on Tuesday to settle at $2,068. Bearish sentiment intensified on Wednesday as ETH fell almost 3% and settled at $2,010. Price action remained bearish on Thursday, with ETH registering a marginal decline and settling at $2,003. Source: TradingView Friday saw bearish sentiment intensify substantially as ETH plunged over 5%, slipping below the 20-day SMA and $2,000 and settling at $1,897. Price action remained bearish over the weekend as ETH registered a drop of almost 4% on Saturday and 1.15% on Sunday to end the weekend at $1,807. Despite the overwhelming bearish sentiment, ETH started the current week on a positive note, registering an increase of almost 1% on Monday. The current session sees ETH up nearly 4% and trading just under $1,900 as buyers look to build momentum and reclaim $2,000. Solana (SOL) Price Analysis Solana (SOL) is looking to move past the 20-day SMA and reclaim $130 as buying activity picks up during the ongoing session. SOL registered a substantial increase on Sunday, rising over 3% to move past the 20-day SMA and settle at $132. Bullish sentiment intensified on Monday as SOL rose over 6% and settled at $141 after reaching an intraday high of $141. Price action remained bullish on Tuesday as SOL registered an increase of almost 2% and settled at $143 after reaching an intraday high of $147. However, SOL lost momentum after reaching this level, failing to cross $150. As a result, the price registered a drop of over 4% on Wednesday and settled at $137. Source: TradingView Buyers attempted a recovery on Thursday as SOL registered a marginal recovery and settled at $138. However, it was back in the red on Friday, dropping over 6%, slipping below the 20-day SMA and $130 and settling at $129. Bearish sentiment persisted on Saturday as the price fell almost 4% and settled at $124. However, with sellers exhausted, SOL registered a marginal increase on Sunday, preventing a further decline. SOL started the current week in the red, registering a marginal drop as buyers struggled to build momentum. However, the current session sees the price up almost 4% and trading at $129. Buyers will look to retain control and drive SOL past the 20-day SMA towards $140. On the other hand, sellers will look to retake control and drive SOL below $120. Ripple (XRP) Price Analysis Ripple's (XRP) price action is closely tied to the Securities and Exchange Commission (SEC) and its decision regarding the appeal. XRP started the previous week with an increase of almost 3% to settle at $2.44. Buyers retained control on Monday as the price registered a rise of 0.45%, reaching an intraday high of $2.50 before settling at $2.45. However, XRP lost momentum after reaching this level, with the price remaining static on Tuesday. Sentiment turned bearish on Wednesday as XRP plunged over 4%, slipping below the 50-day SMA and settling at $2.35. Price action remained bearish on Thursday as the price registered a marginal decline and settled at $2.34. Source: TradingView Bearish sentiment registered another substantial uptick on Friday as XRP fell almost 6%, slipping below the 20-day SMA and settling at $2.20. Sellers retained control on Saturday as the price dropped to a low of $2.06 before settling at $2.13, ultimately registering a decline of over 3%. XRP registered a marginal increase on Sunday to end the weekend positively. However, it was back in the red on Monday, dropping to a low of $2.02 as sellers attempted to drive it below $2. However, it recovered from this level to settle at $2.08, ultimately registering a decline of 2.24%. The current session sees XRP up over 4% as buying activity picks up, trading at $2.17. Dogwifhat (WIF) Price Analysis Dogwifhat (WIF) has been trading downwards since failing to cross the 50-day SMA. WIF registered an increase of 2.21% on Sunday to move past the 20-day SMA and settle at $0.518. Bullish sentiment intensified on Monday as WIF surged almost 8% and settled at $0.558. However, it lost momentum after reaching this level, dropping 1.53% on Tuesday and settling at $0.549. Buyers attempted a recovery on Wednesday as WIF reached an intraday high of $0.590. However, it lost momentum after this level and dropped almost 4% to settle at $0.528. Sellers retained control on Thursday as WIF continued to decline, falling nearly 2% and settling at $0.519. Source: TradingView Bearish sentiment intensified over the weekend as WIF plunged over 11% on Friday, slipping below the 20-day SMA and $0.50 to settle at $0.46. Sellers retained control on Saturday, with the price dropping over 6% and settling at $0.432. Despite the overwhelming bearish sentiment, WIF registered an increase of over 1% on Sunday to end the weekend at $0.436. However, WIF was back in the red on Monday, falling almost 4% and settling at $0.419. The current session sees WIF up over 5% as it looks to push back towards $0.50. Arbitrum (ARB) Price Analysis Arbitrum (ARB) surged past the 20-day SMA on Monday after an increase of over 6% and settled at $0.390. Buyers retained control on Tuesday as ARB looked to move past $0.40. However, it could not register a marginal increase and settled at $0.393. ARB lost momentum on Wednesday thanks to selling pressure around $0.40. As a result, the price fell almost 3% and settled at $0.381. ARB registered a marginal recovery on Thursday, rising nearly 1% to settle at $0.384 as buyers attempted to mount a recovery. Source: TradingView Bearish sentiment intensified on Friday as ARB plunged almost 10%, slipping below the 20-day SMA and settling at $0.347. Sellers retained control on Friday as the price fell nearly 5% and settled at $0.33. Despite the overwhelming bearish sentiment, ARB registered a marginal increase on Sunday to end the weekend positively. However, ARB was back in the red on Monday, dropping 1.21% to $0.327. The current session sees ARB up almost 4% and trading at $0.341 as it looks to push above the 20-day SMA to $0.40. Internet Computer (ICP) Price Analysis Internet Computer (ICP) registered a substantial decline over the weekend as it plunged below $6 and the 20-day SMA, losing key support levels. ICP started the previous week on a bullish note, rising almost 4% to move past $6 and settle at $6.06. Buyers retained control on Tuesday as ICP registered an increase of over 2% and settled at $6.20. The price raced to an intraday high of $6.37 on Wednesday as buyers attempted to move above the 50-day SMA. However, it lost momentum after reaching this level and dropped almost 2% to settle at $6.08. ICP encountered volatility on Thursday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price registered a marginal increase and settled at $6.10. Source: TradingView However, sentiment turned bearish on Friday as ICP plunged over 8%, slipping below $6 and the 20-day SMA to settle at $5.50. Sellers retained control on Saturday as the price dropped 4.46% and settled at $5.35. Selling pressure persisted on Sunday, with ICP dropping 1.50% to end the weekend on a bearish note at $5.27. ICP plunged to an intraday low of $5.08 on Monday as selling pressure intensified. However, it rebounded from this level to register an increase of almost 1% and settle at $5.31. The current session sees ICP up nearly 4% and trading at $5.50. Buyers will look to retain control and push ICP back above the 20-day SMA and $6. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
