Daily Crypto Signals: Bitcoin Surges Past $95K While Ethereum Finds Stability
While Ethereum fights for market leadership against growing rivals in a transforming crypto scene, Bitcoin recovers from GDP-induced fall as
Quick overview
- Bitcoin has rebounded from a GDP-induced sell-off, showing strong market demand and threatening the $95,000 level.
- Ethereum's market capitalization briefly fell below its top four rivals, raising concerns about its future, despite maintaining leadership in total value locked in DeFi.
- XRP's prospects for ETF approval have improved significantly, with experts raising the likelihood to 85%, potentially driving prices higher.
- Solana is gaining momentum with a projected 90% chance of ETF approval, supported by increased on-chain activity and futures contracts.
While Ethereum fights for market leadership against growing rivals in a transforming crypto scene, Bitcoin recovers from GDP-induced fall as XRP ETF prospects brighten.
Crypto Market Developments
This week the market for cryptocurrencies showed resiliency despite alarming US economic data projecting a Q1 2025 recession in the US. After the GDP announcement, Bitcoin swiftly recovered from a small sell-off to $92,910, proving great market purchasing demand. As institutional investment keeps changing the market, stablecoin issuer Circle apparently turned down a $4–5 billion buyout offer from Ripple.
In regulatory developments, a federal judge decided that the US Treasury’s Office of Foreign Assets Control (OFAC) cannot permanently restrain the agency from imposing subsequent sanctions by reinstalling sanctions against crypto mixing provider Tornado Cash. Apart from that, the SEC delayed decisions on XRP and Dogecoin ETFs until June; meanwhile, Bloomberg Intelligence experts have indicated clearance chances for various altcoins.
News of a significant Bitcoin theft—an elderly US citizen victim of a tragic $330 million heist—now regarded as the fifth-largest crypto hack in history shocked the market as well. Using advanced social engineering techniques, the assailant got into the victim’s wallet—which had more than 3,000 Bitcoin since 2017.
Bitcoin Rebounds on Bearish US GDP Data
After a brief GDP-induced sell-off to $92,910, Bitcoin BTC/USD has shown amazing tenacity, fast rebounding to threaten the $95,000 level. This rebound supports the strong bid from many market players and fits the perspective that, should current unfavorable economic data push the Federal Reserve to lower rates and boost dollar issuance, Bitcoin would eventually gain from this.
From 59.8% on April 29 to 63.8% on April 30, the likelihood of a Fed interest rate cut has changed this week, maybe providing a positive atmosphere for Bitcoin. With funding rates normalizing as shorts complete positions, market experts observe that Bitcoin’s recent pricing activity has been “primarily driven by passive buyers.”
Closely observing the $95,500 resistance level, technical analysts believe that a consistent breakthrough might allow a quick recovery to $100,000. With traders largely indifferent to dismal US economic data since they expect final monetary easing, the forthcoming May 2 jobs report could have more impact on market attitude.
Ethereum Traders Still Cautious
After failing to recover the $4,000 mark in December 2024, Ethereum ETH/USD has been trading below $1,900 since March, which has raised questions about its future prospects. Though futures data shows professional traders are reluctant to adopt significant positions in either direction, market mood toward ETH remains wary.
In April 2025, Ethereum’s market capitalization momentarily slipped below the aggregate value of its four biggest rivals: Solana, BNB, Cardano, and Tron—first time ever. Though ETH has subsequently risen to a market capitalization of $217 billion, surpassing the total value of these competitors, investor confidence is still precarious.
Ethereum keeps its leadership in terms of total value locked (TVL) in distributed finance despite these difficulties. By enhancing staking systems meant for institutional investors, which would lock more ETH in validator nodes and hence lower circulating supply, the forthcoming “Pectra” network upgrade, set for May 7, might perhaps increase investor sentiment.
Though not yet indicating strong bullish attitude, market data reveals that ETH options are trading with balanced put and call volumes, suggesting that professional traders are growing more at ease with ETH’s present price levels.
XRP ETF Approval Likelihood on the Rise
XRP XRP/USD has seen notable price volatility, trading within a declining wedge pattern that technical analysts regard as a positive reversal indicator. XRP’s market structure is robust even with a recent 5% decline on dismal US GDP statistics; the relative strength index (RSI) above the midline indicates conditions still favor upward potential.
With some estimating a price goal as high as $19.27 based on technical study, several well-known traders remain hopeful about XRP’s future. The higher likelihood of spot XRP ETF approval in the United States seems to be the main driver of XRP.
From their 65% forecast two months ago, Bloomberg senior ETF experts have boosted their expected probabilities for XRP ETF certification to 85%, a significant rise. Likewise, Polymarket’s betting odds on approval by December 31, now stand at 80% from 63% on April 23. Setting a new review date on June 17, the SEC lately delayed its ruling on Franklin Templeton’s spot XRP ETF.
The acceptance of these ETFs could open large institutional capital for XRP, hence increasing demand and pushing prices toward new all-time highs in 2025.
Solana to Rebound to $200 Soon?
With Bloomberg Intelligence raising its projected chances of US authorities approving a Solana ETF in 2025 to 90%, up from 70% in February, Solana SOL/USD is still gathering momentum in the bitcoin industry. This optimistic view aligns with the March listing of futures contracts linked to Solana on the Chicago Mercantile Exchange, often considered as a forerunner of ETF clearance.
With the network guiding the whole Ethereum layer-2 ecosystem with $21.6 billion in distributed exchange activity over the previous week, on-chain indicators strengthen Solana’s position even more. Especially remarkable were the 58% increase in Meteora activities and the 87% weekly increase in Raydium’s volumes.
Currently waiting SEC clearance to offer ETFs using Solana’s native cryptocurrency are six asset managers: Grayscale, VanEck, 21Shares. Although the regulatory schedule might stretch beyond 2026, analysts remain hopeful about ultimate approval, which might lift SOL’s price above $200 even before official announcements are made.
Solana’s integrated user experience has been driving consumers away from Ethereum for activities involving regular deposits and withdrawals, where even Ethereum’s layer-2 solutions offer little benefits compared to Solana’s simple approach.
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