Bitcoin bulls hold their ground and maintain the uptrend, temporarily around $74,630 as of April 16. On Wednesday, Tether is suspected to have bought 951 BTC with a quarterly profit of 15% and transferred it to its own custody reserve wallet. On the same day, Virginia enacted a law on crypto unclaimed property, requiring that physical crypto assets be transferred to the state government.
Macro Events & Crypto Market Hot Topics
1、According to Yu Jin, on April 15, Tether, the issuer of USDT, transferred 951 BTC (about $70.47 million) from Bitfinex to its Bitcoin reserve address. Since 2023, the address has purchased BTC according to the company’s profits at a rate of 15%, and it typically collects withdrawals from Bitfinex and stores them together a few days after each quarter ends. At present, the address holds a total of 97,141 BTC (about $7.2 billion), making it the world’s fifth-largest BTC wallet. Based on the price at the time of withdrawal, the overall average buy price is about $51,312, with an unrealized paper profit of about $2.175 billion.
2、On April 15, Virginia Governor Abigail Spanberger signed the HB 798 bill, requiring that exchanges, after digital assets have been idle for 5 years, transfer them to the state government in physical form. Coinbase Chief Legal Officer Paul Grewal said the bill is good news, as it prevents unclaimed digital assets from being immediately forced to liquidate. The bill will take effect on July 1, 2026, leaving about 2.5 months for crypto custodial institutions to prepare for operational compliance adjustments. Self-custody through non-custodial wallets is still the only way to ensure digital assets are completely unaffected by the unclaimed property law.
News Roundup
1、Bitnomial launches Injective futures in the U.S., expected to support the eligibility for spot ETF applications
2、Matrixport closes out a 25,000 ETH long position; holds for 65 days and earns $17.32 million in profit
3、Kyber takes the top spot among Ethereum DEX aggregators with a 31% share; 1inch’s share has dropped to 15%
4、CryptoQuant: Bitcoin’s rally faces the risk of profit-taking; exchange capital inflows surge
5、Tom Lee: The “mini crypto winter” is over; Ethereum could rise to above $60,000 in the coming years
6、Iran says U.S. sanctions on the Strait of Hormuz could cause the ceasefire agreement to break down
7、UK FCA seeks feedback on crypto regulatory guidance; the new system is expected to take effect in October 2027
8、Fed’s Musa Leem: Need to keep interest rates unchanged for a period of time
9、Fed Beige Book: War intensifies uncertainty; U.S. businesses take a wait-and-see stance
10、CFTC investigates oil trades made before policy adjustments to Trump’s Iran policy
Market Performance
1、Bitcoin latest update: $BTC bulls hold their ground and maintain the uptrend, temporarily around $74,630; over the past 24 hours, $66.78 million was liquidated, with the main liquidation on short positions;
2、Fueled by a strong rally in tech stocks, on April 15 the U.S. stock market’s S&P 500 index closed above 7,000 points for the first time, setting a closing record at the same time as the Nasdaq index and the Philadelphia semiconductor index. Encouraged by progress in U.S.-Iran talks, along with strong earnings reports from big-name companies such as U.S. banks, the market has effectively absorbed the earlier declines triggered by the Middle East war. The Dow Jones Industrial Average fell 72.27 points, or 0.1%, closing at 48,463.72. The S&P 500 rose 55.57 points, or 0.8%, closing at a new high of 7,022.95. The Nasdaq Composite rose 376.93 points, or 1.60%, for an 11th straight day of gains, and also closed at a record high of 24,016.02.
（Source: Gate）
3、In the Gate BTC/USDT liquidation map, using the current 74,231.80 USDT as reference: if it drops to around $73,318, the total liquidation amount for long positions will exceed $389 million; if it rises to around $75,562, the total liquidation amount for short positions will exceed $266 million. The liquidation amount on the short side is significantly lower than on the long side. It is recommended to reasonably control leverage levels to avoid triggering large-scale liquidations when the market moves.
（Source: Coinglass）
4、Over the past 24 hours, BTC spot inflows were $2.01 billion, outflows were $1.97 billion, and net inflows were $0.4 billion.
（Source: Coinglass）
5、Over the past 24 hours, net outflows led among contract trading for $BTC, $ETH, $SOL, $XRP, $XAG , and others, creating trading opportunities.
X KOL Selected Viewpoints
Phyrex Ni（@Phyrex_Ni）：「On Tuesday, market sentiment was still quite good. There have already been rumors of small pieces of good news for Iran and the U.S. One is that the U.S. and Iran may reach a deal on uranium enrichment, and the other is that a temporary ceasefire between the U.S. and Iran could be extended by another two weeks. Both possibilities are still fairly high. On the uranium issue, what’s being discussed the most right now is the timing of the ban, rather than the ban itself—so the probability of reaching an agreement is quite high.」
「And extending the temporary ceasefire has become a market consensus. Even though the U.S. has recently blockaded Iran’s ports and said that in the past 24 hours no cargo vessel has entered Iranian ports, Iran has not shown such strong resolve. This suggests that Iran, like the U.S., does not want to keep fighting. There are also reports that Iran is pushing forward a ceasefire in Lebanon.」
「Other than that, there aren’t really any events that can affect the market. In the short term, the geopolitical conflict between Iran and the U.S. will most likely not flare up again. What to watch is when the Strait of Hormuz can be fully navigable. And when looking over a longer timeframe, the focus still remains on monetary policy.」
「Coming back to the Bitcoin data, trading volume has pulled back significantly, and the turnover rate is also declining. Investors’ sensitivity to price is decreasing. Most investors currently are not very interested in the prevailing price, but it’s also quite evident that investors who bought the dip over the past two weeks are exiting. Overall, investors’ interest in buying is higher at the moment, and the selling volume will drop a bit as well. Everyone is waiting for signals that the geopolitical conflict has ended.」
Outlook for Today
1、China March total retail sales of consumer goods (year over year), prior value was 2.8%
2、China Q1 gross domestic product (year over year), prior value was 4.5%
3、China March industrial production above designated size (year over year), prior value was 6.30%
4、China Q1 gross domestic product (quarter over quarter), prior value was 1.2%
5、UK February industrial output (year over year), prior value was 0.4%
6、UK February goods trade balance (millions of pounds), prior value was -14449
7、Eurozone March final consumer price index (year over year), prior value was 2.5%
8、Eurozone March final consumer price index (month over month), prior value was 1.2%
9、U.S. seasonally adjusted initial jobless claims last week (thousands) (through 0411), prior value was 219
10、G20 meeting of finance ministers and central bank governors is being held
