This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin's (BTC) recovery rally has stalled since Sunday, raising the risk of a bearish shift in key indicators. Since Sunday, the $86,000 mark has emerged as a resistance and supply zone, with bulls failing to keep gains above that level. The elusive breakout has raised the risk of a bearish realignment in key momentum indicators – the 50, 100- and 200-hour simple moving averages (SMA). The three averages stacked one below the other and trending south represent the bearish alignment. The 50- and 100-hour SMAs have peaked and appear on track to produce a bearish crossover that will see the former move below the latter. While the cryptocurrency's price remains above the 200-hour SMA, the impending bear cross of the other two SMAs indicates that sellers are looking to reassert themselves. Additionally, the daily chart MACD histogram has stopped printing successively higher bars above the zero line, reflecting a loss of upward momentum to support the notion of potential bearish developments in the market. All this, when viewed against the backdrop of downward trending 50- and 100-day SMAs, calls for caution on the part of the bulls. A move below $83K, the hourly chart support, would validate the bearish developments, potentially yielding a sell-off toward the recent lows near $75K. Meanwhile, a UTC close above $86K is needed to signal a continuation of the recovery rally.
In an innovative pitch, VanEck’s Matthew Sigel introduces “BitBonds,” a novel US Treasury bond that integrates Bitcoin exposure to ease the nation’s $14 trillion debt crisis. This groundbreaking proposal suggests
In a recent update shared on X, Immutable co-founder Robbie Ferguson highlighted a significant trend in the Web3 gaming industry, noting that the sector has amassed over $12 billion in
VanEck’s head of research has pitched a new type of US Treasury bond partially backed by Bitcoin to help refinance $14 trillion in US debt. Matthew Sigel pitched the concept of “BitBonds” — US Treasury bonds with exposure to Bitcoin ( BTC ) — at the Strategic Bitcoin Reserve Summit 2025 on April 15. The new 10-year bonds would be composed of 90% US traditional debt and 10% BTC exposure, Sigel said, appealing to both the US Treasury and global investors. Even in a scenario where Bitcoin “goes to zero,” BitBonds would allow the US to save money to refinance the estimated $14 trillion of debt that will mature in the next three years and will need to be refinanced, he said. Bitcoin to boost investor demand for T-bonds “Interest rates are relatively high versus history. The Treasury must maintain continued investor demand for bonds, so they have to entice buyers,” Sigel said during the virtual event. Meanwhile, bond investors want protection from the US dollar inflation and asset inflation, which makes Bitcoin a good fit for being a component of the bond, as the cryptocurrency has emerged as an inflation hedge . An excerpt from Matthew Sigel’s presentation on Bitbonds at the Strategic Bitcoin Reserve Summit 2025. Source: Matthew Sigel With the proposed structure and a 10-year term, a BitBond would return a “$90 premium, along with whatever value that Bitcoin contains,” Sigel stated, adding that investors would receive all the Bitcoin gains up to a maximum annualized yield to maturity of 4.5%. “If Bitcoin gains are big enough to provide that above a 4.5% annualized yield, the government and the bond buyer split the remaining gains 50 over 50,” the exec said. Upsides and downsides Compared to standard bonds, the proposed 10-year BitBonds would offer the investor substantial gains in a scenario where Bitcoin gains exceed the break-even rates, Sigel said. A downside, however, is that Bitcoin must attain a “relatively high compound annual growth rate” on lower coupon rates in order for the investor to break even, he added. Source: Matthew Sigel From the government’s perspective, if they are able to sell the bond at a coupon of 1%, the government will save money “even if Bitcoin goes to zero,” Sigel estimated, adding: “The same thing if the coupon is sold at 2%, Bitcoin can go to zero, and the government still saves money versus the current market rate of 4%. And it’s in these 3% to 4% coupons where Bitcoin has to work in order for the government to save money. Previous BitBonds pitches to the government While the idea of crypto-backed government bonds is not new, Sigel’s BitBond pitch follows a similar proposal by the Bitcoin Policy Institute in March. The BPI estimates the program could generate potential interest savings of $70 billion annually and $700 billion over a 10-year term. Treasury bonds are debt securities issued by the government to investors who loan money to the government in exchange for future payouts at a fixed interest rate. Related: Bitcoin could hit $1M if US buys 1M BTC — Bitcoin Policy Institute Crypto-enabled bonds are linked to cryptocurrencies like Bitcoin, allowing investors to gain exposure to potentially more enticing rewards. Source: Bitcoin Policy Institute As the US government grows bullish on crypto under President Donald Trump’s administration, the narrative for potential Bitcoin-enhanced Treasury bonds has been on the rise. Magazine: Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler’s Digest, April 6 – 12
As MiCA standardizes crypto regulation across the European Union, many firms are choosing to leave the bloc, merge, or shift operations to more favorable jurisdictions. Europe ‘s crypto industry is entering a major shake-up under the new MiCA regime, and as the blockchain forensic firm TRM Labs puts it, not all crypto business — also known as crypto asset service providers or CASPs — will make the transition. In a blog post , the analysts suggested that some firms are expected to shut down, while others are likely to merge in search of scale. MiCA officially came into force on Dec. 31, 2024. The regulation aims to replace the previously fragmented approach with a single set of rules for all 27 EU member states. As of April 15, only 17 crypto businesses had received authorization under MiCA across seven EU countries, according to the European Securities and Markets Authority, the report reads. Another 15 entities were listed as non-compliant, all reported by Italy’s securities regulator. “MiCA aims to replace this patchwork with a single, harmonized rulebook. All CASPs seeking to operate in the EU must now go through a standardized authorization process — raising the bar for compliance and clarity.” TRM Labs You might also like: Ethena Labs exits Germany, abandons MiCA license effort TRM Labs notes that’s a small number compared to the over 3,000 crypto firms previously registered across the EU before MiCA. The blockchain anlytics firm estimated that only 1,100 to 1,300 of these were actually active. Now, those firms must go through a standard approval process to continue operating, the analysts suggest, adding that existing firms may benefit from “grandfathering provisions” depending on their country. While it’s still might be too early to call which countries will emerge as the leading destinations for authorization, TRM Labs pointed out that the first quarter of 2025 already showed signs of a smaller, more regulated market taking shape. Read more: Circle’s Head of Policy advocates for MiCA broadening crypto regulations
John Patrick Mullin, co-founder and CEO of Mantra, claims he’ll burn his OM after the token’s Sunday crash.
SHIB and XRP are both testing historically significant support zones, with technical indicators hinting at a potential shift in momentum as traders watch for key breakout levels to confirm a trend reversal. Shiba Inu ( SHIB ) is currently trading at $0.00001157, which is within a historically significant support zone around the $0.00001150–$0.00001250. This level has been tested multiple times and acted as major support throughout the consolidation phase between August to September last year, suggesting it’s an important line of defense for buyers. Even though the overall trend is still bearish, with SHIB price trading below all key moving averages, momentum indicators reflect a slight cooling of bearish pressure . The Relative Strength Index is hovering around 42.81, neither oversold nor strong, suggesting weak bearish momentum but also room for recovery. RSI has also been flat-lining, which often precedes a bounce—especially when paired with key support. The MACD histogram is flat, indicating that selling pressure may be losing steam. A break above the $0.00001212–$0.00001270 resistance cluster, which includes the 20-day EMA and approaches the 50-day SMA, would be the first meaningful signal of strength. This range previously acted as support multiple times last year, particularly between August and October, before it broke and flipped into resistance, making it a key support-turned-resistance area. Once this is cleared, it opens the door toward the $0.00001545 area (100-day SMA) as the next upside target. Source: TradingView You might also like: Crypto prices may stabilize in late Q2, rebound in Q3 possible: Coinbase report Ripple ( XRP ) is currently trading at $2.0749, the level which acted as support in mid-to-late December last year, before it broke out sharply into a bullish rally, reaching highs near $3 by early January. The price also recently made a higher high and tried to reclaim 20-day Exponential Moving Average ($2.1039) and even briefly tested the 50-day Simple Moving Average ($2.2375), signaling a possible breakout effort. It also recently bounced from the 200-day SMA (at $1.9118) in a strong bullish move on April 9, marked by a large bullish candle accompanied by a notable spike in volume on that day. The MACD line has also recently crossed above the signal line, with the histogram flipping green — an early bullish momentum signal. The RSI is at 46.92, which isn’t yet overbought, meaning there’s plenty room for the upside. A close above $2.14–$2.23 (the 20 EMA and 50 SMA cluster) would reinforce bullish intent and potentially trigger further upside toward $2.48 (100 SMA). Similarly, analyst @Dom noted in an April 13 post on X that “$2.20 is now the only objective here,” adding that a decisive breakout above this level could pave the way for a move toward $2.50. Source: TradingView You might also like: Ripple, Hidden Road deal exemplifies crypto’s TradFi takeover: Coin Bureau CEO
Is the tide turning for Ethereum ETFs? Recent data reveals a concerning trend in the U.S. spot Ethereum (ETH) ETF market. On April 15th, these investment vehicles experienced a significant combined net outflow of $14.2 million. This marks the sixth consecutive day of investors pulling funds out, raising eyebrows and sparking discussions about the current sentiment surrounding Ethereum and the broader crypto market. Let’s dive deeper into what’s happening and what it could mean for you. Decoding Ethereum ETF Outflows: What’s Behind the $14.2M Exit? The latest figures from Farside Investors paint a clear picture: investors are withdrawing from U.S. spot Ethereum ETFs . A total of $14.2 million was pulled out on April 15th alone. This continuous outflow over nearly a week suggests more than just a temporary blip. But what factors could be contributing to this trend? Let’s break down the key players and the numbers: Grayscale’s ETHE Leads the Charge (Downwards): Grayscale’s Ethereum Trust ETF (ETHE) experienced the most significant withdrawals, with a staggering $10.6 million in outflows. This highlights the continued pressure on ETHE, which has been converting from a trust to an ETF. Fidelity’s FETH Follows Suit: Fidelity’s Spot ETH ETF , FETH, also saw notable outflows, registering $3.6 million in withdrawals. While less than ETHE, this still contributes to the overall negative trend. Rest of the Pack Stays Put: Interestingly, the remaining U.S. spot Ethereum ETFs reported no change in their holdings on April 15th. This suggests that the outflows are concentrated in specific ETFs, particularly Grayscale and Fidelity. ETF Net Outflow (April 15) Grayscale (ETHE) $10.6 million Fidelity (FETH) $3.6 million Other ETFs No Change Total Net Outflow $14.2 million Spot ETH ETF Performance: A Broader Perspective While a single day’s outflow might seem like noise, six consecutive days of withdrawals raises valid concerns. To understand the significance of these Ethereum ETF outflows , it’s crucial to look at the bigger picture. Are these outflows indicative of a broader market trend, or are they specific to Ethereum ETFs? Market Volatility: The cryptocurrency market is known for its volatility. Price swings in Ethereum and Bitcoin can significantly influence investor sentiment and ETF flows. Recent market fluctuations could be prompting investors to reduce their exposure to riskier assets like crypto ETFs. Profit Taking: Following periods of price appreciation, some investors might be taking profits from their Crypto ETF Investment , leading to outflows. It’s important to analyze the market context to see if this aligns with recent price movements. Macroeconomic Factors: Broader economic conditions, such as interest rate hikes or inflation concerns, can also impact investment decisions. Investors might be reallocating capital to different asset classes based on macroeconomic outlooks. Grayscale ETHE Conversion Impact: The ongoing conversion of Grayscale’s ETHE from a trust to an ETF has been a complex process. Some investors who initially held ETHE in its trust form might be re-evaluating their positions now that it’s an ETF, potentially leading to outflows. The higher fees associated with ETHE compared to newer ETFs might also be a contributing factor. Grayscale ETHE: Why the Continued Outflow? The consistent and significant outflows from Grayscale’s ETHE warrant a closer look. As mentioned earlier, the transition from a trust to an ETF is a key factor. However, there are other elements at play: Higher Fee Structure: ETHE has a relatively higher management fee compared to newer spot Spot ETH ETF offerings from competitors like BlackRock and Fidelity. Investors sensitive to fees might be shifting their holdings to ETFs with lower expense ratios. Early Investor Profit Taking: Investors who held ETHE in its trust form for a long time may now be realizing profits after the ETF conversion unlocked redemption possibilities. Market Competition: The emergence of numerous competing spot Ethereum ETFs provides investors with more choices. Some may be diversifying or consolidating their holdings into newer, potentially more attractive ETF options. Ethereum Price and ETF Flows: Is There a Correlation? The price of Ethereum Price and the flows into and out of Ethereum ETFs are likely interconnected. Let’s explore this potential relationship: Price Drops Can Trigger Outflows: When the price of Ethereum declines, investors may become concerned and sell their ETF holdings to mitigate potential losses, leading to outflows. Outflows Can Exacerbate Price Drops: Conversely, significant outflows from ETFs can put downward pressure on the price of Ethereum itself, as ETF providers may need to sell ETH to meet redemptions. Positive Price Action Can Attract Inflows: Conversely, if the price of Ethereum starts to rise, it could attract new investors to Crypto ETF Investment , resulting in inflows into Ethereum ETFs. It’s a complex interplay, and while correlation doesn’t equal causation, monitoring both Ethereum Price movements and ETF flows can provide valuable insights into market sentiment and potential future trends. Navigating Crypto ETF Investment: Actionable Insights So, what does this mean for investors interested in Crypto ETF Investment ? Here are some actionable insights to consider: Stay Informed: Keep a close eye on ETF flow data, particularly for Ethereum and Bitcoin ETFs. Track daily and weekly net flows to gauge market sentiment. Understand ETF Fee Structures: Compare the expense ratios of different ETFs. Lower fees can make a significant difference in long-term returns. Diversify Your Portfolio: Don’t put all your eggs in one basket. Diversify your crypto investments across different assets and strategies. Consider Long-Term Perspective: Crypto markets are volatile. Focus on your long-term investment goals and avoid making impulsive decisions based on short-term market fluctuations. Do Your Research: Before investing in any ETF, thoroughly research its holdings, management team, and track record. Conclusion: Decoding the Crypto Signals The $14.2 million net outflow from U.S. spot Ethereum ETFs is a signal worth paying attention to. While it’s crucial not to jump to conclusions based on a single data point, the sixth consecutive day of withdrawals suggests a potential shift in investor sentiment. Whether this is a temporary correction, profit-taking, or a reaction to broader market conditions remains to be seen. For investors, staying informed, understanding market dynamics, and maintaining a long-term perspective are key to navigating the ever-evolving world of cryptocurrency investments. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum price action.
With $500 billion in volume and counting, 1inch sat down with crypto.news to explain how interoperability is being deployed to offer non-custodial solutions to everything from real-world assets to cryptocurrency. Decentralized exchange (DEX) aggregators seem to be all the rage in DeFi today. These entities, which source liquidity from multiple DEXs to optimize trading conditions, aim to bolster prices for consumers by lowering fees and reducing slippage. According to recent data, total trading value of DEX aggregators has grown to $2.03 billion as of February 2025. It is a sector in crypto that many are eyeing for future growth. One of these DEX aggregators, 1inch, sat down with crypto.news on the sidelines of Paris Blockchain Week to discuss the challenges and opportunities for DEX aggregators in the current crypto cycle. 1inch, a leading decentralized exchange (DEX) aggregator, was founded in May 2019 by Sergej Kunz and Anton Bukov, two Russian developers who met at a hackathon and turned their knack for optimizing crypto trades into a DeFi powerhouse. The platform now optimizes trades across 400+ liquidity sources on 12 blockchains, processing over $500 billion in volume as of today, with zero withdrawal and gas fees offered by its native Chi token. Co-founder of 1inch , Sergej Kunz, told crypto.news how the firm is aiming to make the jump from the decentralized finance sector into the crypto space by offering users a seamless cross-chain experience that rivals that of centralized exchanges , with a strong focus in the next quarter on DeFi growth and backing entities like Bitcoin and Solana, better UX, and features that aim to bolster and leverage AI, with the goal of using this to aggregate media into a seamless technological umbrella a new super-powered 1inch. “It’s getting better and better. I think we will see in a couple of years a seamless experience like in centralized exchanges with the benefits of non-custody and atomic execution,” said Kunz to crypto.news at a cafe in Paris on April 16. In the Wild West of DeFi, Atomic execution refers to the process where a transaction is executed in its entirety or not at all, ensuring no partial completion. This guarantees that all parts of a trade, such as swapping tokens across multiple DEXs, occur simultaneously and are only finalized if all conditions (e.g., price and liquidity) are met, preventing losses from failed or partial trades, including MEV bots that sandwich transactions and extract fees from crypto users. With 1inch, Kunz explained, new features now allow routes to trade through multiple DEXs to optimize pricing, with atomic execution ensuring the entire swap completes as a single, indivisible transaction on the blockchain. If any part fails (e.g., insufficient liquidity), the transaction reverts, and no funds are exchanged. As a DEX aggregator, 1inch ( 1INCH ) sources liquidity from multiple DEXs to find the most favorable rates for a single trade. The firm uses a smart contract-based system that enables users to swap between tokens and set their desired price. “We came to the idea that we have this intent-based protocol to just say what they want to get and how it’s going to be executed is the bread of market makers and market traders,” said Kunz. “We extended this functionality with cross-chain swaps. And now, we are a cross chain marketplace for all users,” he continued. The total trading value of DEX aggregators was over $2.03 billion as of February 2025, reflecting their growing role in DeFi, while the market capitalization of DEX aggregator coins was $2.5 billion as on January of this year. Top coins include Jupiter, 1inch, and Cetus Protocol, but others are nipping at the heels of these competitors, given the potential for enormous growth if assets like securities are able to be traded on-chain. To this end, Kunz says that to standout he has launched Fusion+, an advanced upgrade to 1inch’s Swap Engine. The idea with Fusion+ is to create more efficient cross-chain swaps to get better rates through intent based architecture and bridge less technology. The technology aims to connect user to extensively more Web3 liquidity, but also to protect against front-running attacks like MEV with more security features that gets the best price for Chi users. So far, Fusion+ has facilitated over $200 million in cross-chain trading volume, Kunz says, noting that since its beta launch last September integrations like ZKsync have boosted overall performance and security. You might also like: 1inch and Linea join forces to improve swap rates and liquidity in DeFi Today, he says that 1inch is prioritizing cross-chain integration in Bitcoin ( BTC ) and Solana (SOL), with the idea to allow users more interoperability across popular cryptocurrency options. Right now, there are now EVM-compatible solutions for bridging Bitcoin to Ethereum without wrapping the BTC, and this poses several significant hurdles for those wanting to deploy capital cross chain. Integrating these coins, which operate on their own non-EVM blockchain, still presents several technical challenges due to differences in blockchain architecture. These hurdles limit Bitcoin’s utility in Ethereum’s DeFi ecosystem, where over $100 billion in TVL (as of April 2025) is concentrated in EVM chains. Bitcoin holders face friction when attempting to use BTC in yield farming, lending, or trading on platforms like Aave, Compound, or 1inch. And the reliance on wrapped tokens means BTC remains a secondary asset in DeFi, with most activity centered on Ethereum-native tokens or stablecoins, with developers building cross-chain dApps (e.g., 1inch, as discussed previously) must integrate multiple BTC variants (WBTC, tBTC) or bridges, increasing complexity and maintenance costs. Still, 1inch also has their sights set on conquering the traditional finance sector by partnering with banks and other financial institutions to deploy DeFi technology and bring more players on-chain. The idea according to Kunz is to open up the floodgates for institutional adoption of cryptocurrency, but in a way that is DeFi native. “Self custody is our value proposition as well as atomic execution. We plan to expand to TradFi. From our point of view, TradFi needs to adapt for us. It is not us that has to be able to adapt to TradFi, in terms of technology because our technology is unique,” said Kunz. Kunz also views security as a major hurdle. He explained how the 1inch team is aiming to solve security issues by integrating anti-money laundering procedures and know-your customer procedures, which may open the doors to greater institutional interest. “We have a service that aggregates other security services who monitor all the wallets who funds, launder funds. And who move funds from central wallets, and we decline the interaction for APIs at 1inch lab for such wallets,” Kunz said of the current security architecture 1inch maintains. You might also like: Ross Ulbricht-linked wallets lost $12m in meme coin blunder Will 1inch venture into real-world asset tokenization? With the rise of real-world asset tokenization , Sergej Kunz sees the sector as a natural second step within 1inch’s roadmap for expansion. In the next five to ten years, he predicts that people will be able to trade traditional stocks and other conventional securities on-chain. Soon, Kunz believes, traders will be able to retain non-custody on these assets in a way that transcends regional boundaries and builds on atomic execution. According to a recently published joint report by Ripple and BCG, the market size for asset tokenization has the potential to hit $18.9 trillion in 2033. At the moment, the market size for tokenized asset stands at $600 billion, with major expansion predicted by experts who see on-chain, trade-able stocks as the natural evolution of fin-tech. In light of this potential for major growth, Kunz worries about a lack of secondary markets for tokenization of real-world assets, despite DeFi being a burgeoning sector of the crypto ecosystem, not many advanced secondary markets exist for niche tradable assets. “There’s no single place where you can wait for the best execution, and that’s where 1inch comes in. That’s what we’re building. The potential is huge.” Read more: Ripple and BCG report: Global asset tokenization could reach $18.9t by 2033
John Mullin, the CEO of Mantra (OM) hinted at an expanded token burn program. The move aims to rebuild the project’s reputation and the value of the native token. John Mullin, the CEO of Mantra (OM), announced he is considering a wider token burn platform to cause deflation and revive the token’s value. Mullin clarified he is ready to burn his own portion of the team token allocation. To be 100% clear, I am stating that I am burning MY team tokens, and we will create a comprehensive burn program for other parts of the OM supply. https://t.co/Yy6GzRBbM8 — JP Mullin (🕉, 🏘️) (@jp_mullin888) April 16, 2025 In the initial burn, the rest of the team will retain their tokens. The project’s core contributors hold 16.6% of the supply. The biggest weight comes from legacy OM, currently vested in a special wallet. Mullin announced the terms of the burn are to be negotiated, but he will strive for a maximum amount. OM has a circulating supply above 1.8B tokens and no cap on the total supply. The burn will have to tweak the tokenomics in a way to reassure holders of the value of OM. The token is mostly used for staking, as well as to secure the positions of the Mantra chain’s 29 validators. After the market crash, Mantra DAO has not moved any OM to the market. Currently, Mantra DAO holds 95.52M OM, after moving 23.54K tokens for staking. OM has still not recovered from its 90% collapse and trades at a lower range of $0.77. Trading volumes are picking up again, at $1.7B in 24 hours, following a previous stagnation at $69M in 24 hours. The heightened trading activity after the price drop suggests some confidence is left for MANTRA, and buyers may be hoping for a recovery. The team has also not given any signs of shutting down the project. The OM token fell after on-chain signs of insider selling. Early investors sold a relatively small amount of OM, but enough to cause a panic and drive centralized exchanges to quickly close positions. Can Mantra rebuild OM’s value? After the crash , OM trades at $1.4B in total valuation. Some of the price predictions suggest the token may return to a valuation of $2B. OM hopes for a recovery to $2, as the project claims the price crash was not a deliberate rug pull. | Source: Coingecko The most recent price moves also sparked hopes of OM returning to $2. Mantra Chain’s team is still preparing for a detailed report on why OM crashed, and how to avoid similar events in the future. What is known is that the team and early investors sold $43M OM during a low-liquidity weekend. Unlike previous periods, there was no effort to defend the price or inject additional liquidity. Currently, Mullin has not given additional evidence of burning tokens or a deadline for changing the project’s tokenomics. The main claim of Mantra’s team is that the crash is nothing like the crisis of Terra (LUNA), as Mantra did not have a stablecoin or any other way to boost value. The OM crash was simply due to a lack of liquidity, which led to doubts that the price was not organic and was most likely reflecting the effect of market makers. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now