Gate News message, April 16 — After 11 weeks of sideways movement, the crypto market rebounded 1.5% to reach a total value of $2.54 trillion. Bitcoin led the rally, gaining 7% over the week and trading near $75,063, while major altcoins including Ethereum, Solana, XRP, Dogecoin, and Hyperliquid posted gains between 2% and 5%.
The recovery was driven by multiple factors. U.S. tech stocks surged, with the Nasdaq reaching a new all-time high of 24,021.03 and the S&P 500 climbing to a record 7,023, up 0.77%. Geopolitical tensions eased as President Donald Trump said the U.S.-Iran conflict is “very close to being over,” prompting investors to shift capital back into equities and crypto. Additionally, the CLARITY Act moved closer to the Senate floor, with Senator Thom Tillis reporting ongoing negotiations on stablecoin yield provisions. White House crypto advisor Patrick Witt indicated both sections of the bill are nearing final stages.
Bitcoin and Ethereum ETFs also contributed to the rebound. On April 14 and 15, Bitcoin ETFs recorded inflows of $411.4 million and $186.1 million respectively, led by Fidelity ($47.3 million) and Ark ($42.2 million), while BlackRock maintained steady inflows. Ethereum ETFs saw continued weekly inflows from Grayscale and BlackRock. Short liquidations accelerated the rally, with over $225 million in positions wiped out in 24 hours, primarily short trades forced to cover at higher prices.
If Bitcoin breaks above the $76K resistance level it has repeatedly tested over the past two months, analysts expect the price to potentially target $90K, with other major altcoins likely to follow with strong moves.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Crypto Exchanges See 15,952 BTC Outflows Over Past Week, Balances Drop to 2.447M
Gate News message, April 27 — According to Coinglass, cryptocurrency exchanges experienced cumulative outflows of 15,952.91 BTC over the past week, bringing total exchange balances to 2.447 million BTC.
Leading exchanges accounted for the majority of outflows: one major exchange moved 6,269.08 BTC,
GateNews53m ago
Bitcoin 8-Hour Average Funding Rate Turns Negative at -0.0024%
Gate News message, April 27 — According to Coinglass data, Bitcoin's 8-hour average funding rate across major exchanges has turned negative at -0.0024%, indicating a shift toward bearish sentiment among traders.
Funding rates vary across platforms: certain major CEXs are charging 0.0003%
GateNews1h ago
Whale pension-usdt.eth's $110M Short on BTC and ETH Down $15.25M as April Rally Continues
Gate News message, April 27 — According to on-chain analyst Yujin's monitoring, whale pension-usdt.eth opened a 3x leveraged short position on $110 million worth of BTC and ETH near the start of April, but has since incurred a floating loss of $15.25 million as prices rallied throughout the month.
GateNews1h ago
Bitcoin Miners' Holdings Hit One-Month Low at 1.8M BTC as Hash Rate Declines
Gate News message, April 26 — Bitcoin miners' holdings dropped to 1,803,263 BTC (approximately $207.9 billion) as of April 25 at 2 p.m., according to CryptoQuant data. This represents a decrease of 1,248 BTC from seven days prior and marks the lowest level in approximately one month since
GateNews1h ago
UTXO Management Launches Dual-Category Digital Credit Yield Funds
UTXO Management announced the formation of the UTXO Preferred Income Strategies LP, issuing a dual-class digital credit income fund, divided into a senior income class and a total return class. The former seeks steady cash flow, monthly distributions, and enjoys priority allocations; the latter uses leverage to pursue capital appreciation. It also issued STRC preferred securities, combining fixed-income and digital asset exposure, offered only in a private placement to qualified investors.
ChainNewsAbmedia3h ago
22-Year-Old Sentenced to 70 Months for $263M Crypto Theft Laundering
## Sentencing and Charges
California resident Evan Tangeman, 22, was sentenced on Friday to 70 months in federal prison for his role laundering proceeds from a multi-state cryptocurrency theft ring that stole around $263 million in digital assets from victims, according to the U.S. Department of Ju
CryptoFrontier5h ago
