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Cryptocurrency News Articles
Bitcoin (BTC) Takes a Breather Near $94,000 After Bullish Breakout
Apr 25, 2025 at 07:16 pm
Bitcoin (BTC) is taking a breather near $94,000, having dropped to $92,000 in the past two days.
Bitcoin (BTC) price is taking a breather on Friday, having dropped to $92,000 in the past two days. The cryptocurrency chalked out a bullish breakout above key resistance early this week, shifting focus to the $100,000 level and leaving major altcoins like XRP, ETH, SOL, ADA and DOGE behind.
However, smaller coins like STX, SUI, ONDO and GRT put in double-digit gains in the past 24 hours, outperforming both BTC and the wider market: The CoinDesk 20 Index (CD20) has gained about 3%.
BTC's $20,000 surge since April 7 has been underpinned by increased on-chain accumulation by whales and significant inflows through spot ETFs, with the 11 U.S.-listed funds amassing almost $1.5 billion in net inflows over the past three days, according to Farside Investors.
Market gains have been bolstered by policy developments in the U.S. Late Thursday, the Federal Reserve lifted its restrictive crypto guidance, saying state member banks no longer need to provide advance notice before engaging in crypto-related activities.
"Market internals currently suggest a consolidation phase — our base case projects accumulation between $90,000 and $95,000, with potential pullbacks to $87,000, ahead of a possible breakout toward $100,000 or more in the coming weeks," said Valentin Fournier, the lead research analyst at BRN.
QCP Capital echoed the sentiment, noting that a decisive catalyst is needed to push prices above $100,000.
Later today, the University of Michigan will publish its final survey-based inflation expectations report for April. President Donald Trump's trade war has stoked Main Street inflation concerns, so the report is likely to show an increase. The market, however, likely priced in those fears early this month and is probably focusing on next week's U.S. jobs data.
"The next big chapter here will be whether all this volatility has hit real world decisions — especially in the U.S. jobs market. There is plenty of U.S. jobs data released next week and any deterioration here could trigger another round of dollar losses — albeit a more benign dollar decline on the view that the Federal Reserve would be riding to the rescue after all," ING said.
"In terms of Fed pricing, the market now seems comfortable to price the first cut in July — potentially once we all know whether the 90-day pause in Liberation Day tariffs is temporary or longer lasting." Stay alert!
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- Meta (Facebook) Could Re-enter the Crypto Market with a New Stablecoin in Partnership with Sui
- Jun 12, 2025 at 06:20 am
- A top crypto analyst has reignited speculation that Meta, the social media empire led by Mark Zuckerberg, could soon re-enter the crypto space — this time, in partnership with Sui.
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- Solana (SOL) May Be on the Verge of a Major Price Breakout as Optimism Builds Around a Potential Spot ETF Approval
- Jun 12, 2025 at 06:20 am
- Crypto analyst @CryptoGodJohn. believes SOL may be on the verge of a massive breakout on the daily, citing both the technical setup and the growing likelihood of an ETF decision