April 29: CRYPTO MARKET UPDATE-1
• The Most Published News
@Strategy (formerly MicroStrategy) continues significant Bitcoin accumulation, purchasing 15,355 $BTC for approximately $1.42 billion at an average price of $92,737 per coin. This latest buy increases its holdings to 553,555 BTC valued around $52.78 billion, financed through recent stock offerings. This move signals strong institutional confidence in Bitcoin's long-term outlook amid ongoing market activity.
Coinshares reports that Bitcoin’s hashrate is expected to surpass 1 Zettahash per second as early as July 2025—sooner than prior estimates. The hashrate is projected to reach 1.28 ZH/s by the end of 2025 and double to 2.0 ZH/s by early 2027, reflecting advancing mining efficiency and intensifying competition.
• Current Market Trends
Bitcoin spot ETFs attracted net inflows of $3.06 billion for the week ending April 25, 2025, led by the @BlackRock Bitcoin ETF with $1.45 billion. Other notable inflows came from @ARKInvest and @21Shares ETFs, pushing total Bitcoin spot ETF assets to $109.27 billion and indicating sustained institutional demand.
The Altcoin Season Index holds steady at 20, signaling that the market is currently in Bitcoin Season. This indicates that fewer than 25% of the top 100 coins have outperformed Bitcoin over the past 90 days. The index, which excludes stablecoins and wrapped tokens, is tracked by @CoinMarketCap.
• Regulations and Policies
Crypto industry leaders and venture capitalists have petitioned the White House to drop criminal charges against Tornado Cash co-founder Roman Storm. The coalition argues that prosecuting the case endangers innovation across the sector, citing recent DOJ and Treasury guidance challenging stringent regulatory interpretations of crypto protocols.
• Institutional Investor News
Strategy’s $1.42 billion Bitcoin purchase underscores formidable institutional accumulation. Similarly, Latin America’s largest bank, Itaú, has invested $210 million in Oranje, a Bitcoin reserve initiative inspired by Strategy’s approach. Both moves demonstrate growing institutional embrace of Bitcoin as a treasury asset with long-term value potential.
• Market Forecasts and Expert Opinions
@Fidelity's Q2 outlook report contrasts Bitcoin's stable on-chain fundamentals and consolidation with Ethereum's significant technical weaknesses and lower network activity. Bitcoin, despite a 20% decline from its all-time high, shows strong accumulation trends and technical support, while Ethereum experienced a 45% fall driven by deteriorating technical signals. The report suggests Bitcoin may present attractive long-term support opportunities, whereas Ethereum appears undervalued for long-term investors willing to weather short-term volatility.
Standard Chartered’s Geoffrey Kendrick projects Bitcoin will hit $120,000 in Q2 2025 and reach $200,000 by year-end, driven by U.S. investor redeployments and whale buying. Bernstein analysts offer an even more bullish long-term forecast, envisioning Bitcoin reaching $1 million by 2033 due to supply constraints from institutional holdings and ETF inflows.
• Conclusion
Today’s crypto landscape highlights robust institutional backing for Bitcoin, driven by Strategy’s major purchase and rising ETF inflows, reinforcing confidence in Bitcoin’s growth trajectory. Mining activity is intensifying with record hashrate milestones approaching sooner than expected, reflecting network health and miner optimism. Regulatory dynamics remain cautiously watchful, particularly concerning precedent-setting cases like Tornado Cash, which could affect innovation. Investors should consider these bullish signals alongside geopolitical uncertainties, maintaining a balanced, long-term outlook. Diversification with asset-backed stablecoins such as Tether Gold may offer additional portfolio security amid market volatility.
Daily crypto market update is an AI summarization of important news published in major crypto media in the last 24 hours at the time of sending. The full news story can be found at the URL below.
https://t.co/zokRJWaGRk