10x Research stated in its latest report that this week, the cryptocurrency market surged across the board, with Bitcoin breaking through the $95,000 mark, driven by easing macro risks, record ETF fund inflows, and a weakening US dollar. Altcoins followed suit, with increased institutional interest, ecosystem expansion, DeFi explosion, and a warming regulatory environment as the main drivers. Specifically, Solana (SOL) rose 6.7%, supported by institutional buying, DeFi growth, short squeeze, and meme coin activity; Ripple (XRP) saw a slight increase, with CME launching XRP futures and increased bank integration, maintaining market enthusiasm despite legal risks. Stellar (XLM) surged 18.1% due to South Asian retail giant collaboration, trading volume spike, and relaxed US crypto bank regulations; Polkadot rose 10.1% against the trend, with the market optimistic about eventual ETF approval and crypto market openness despite SEC's delayed approval. SUI skyrocketed 64.3%, driven by DEX trading volume explosion, stablecoin ecosystem expansion, and notable partnerships; Raydium Protocol (RAY) rose 27.9%, benefiting from Solana's meme coin incentive plan and DeFi recovery; Aave (AAVE) increased 21.5% due to Bitcoin rebound, buyback plan, GHO stablecoin growth, and rising locked value. Trump token surged 86% with the announcement of a dinner plan with Trump, still attracting investors amid political controversy. Algo Foundation's decentralized ID project launch boosted ALGO price by 18.4%. BONK rose 55.7%, reclaiming Solana's top meme coin status, benefiting from token burning and NFT market acquisition. Ondo rose 16.7%, buoyed by positive dialogue with SEC on tokenization and government bond tokenization.
BONK Launches Meme Coin Issuance Platform Letsbonk.Fun
According to official sources, BONK announced the launch of the meme coin issuance platform Letsbonk.Fun, developed jointly by BONK community members and Raydium. Part of the platform's fees will be used to: strengthen and secure the Solana network through BONKsol validator nodes; buy back and burn BONK tokens, reducing circulation.
A Smart Trader Swapped 1.18 Million Fartcoins for 78,671 TRUMP Tokens 18 Hours Ago
According to Lookonchain monitoring, a smart trader 18 hours ago exchanged their entire 1.18 million Fartcoins (worth $1.22 million) for 78,671 TRUMP tokens. The trader previously completed 5 swing trades on Fartcoin, each with a 100% profit rate, accumulating $669,000 in gains.
Michael Saylor: MSTR Financial Operations Have Generated $5.1 Billion in BTC Earnings Year to Date
Michael Saylor posted on X platform that Strategy (MSTR) financial operations have generated $5.1 billion in BTC earnings so far this year.
Greeks.live macro researcher Adam on X platform stated that next week (4/28-5/2), the most important event is Friday's non-farm and surplus data. During Trump's first three months, the US economy and trade were significantly impacted, with US stocks remaining relatively weak. However, economic data has not shown a clear trend, and each major macro data point is worth watching for potential black swan events. Recent implied volatility continues to decline, especially for BTC's medium and short-term, approaching 45%, with the market expecting limited future volatility. Despite BTC price oscillating around $95,000, cryptocurrency market sentiment remains subdued, only slightly improved.
According to Bitcoin Laws, Arizona's two Bitcoin reserve bills will undergo third reading and possible final vote next Monday. This could become the first state-level Bitcoin reserve bill passed by vote.
Market News: IMF Says El Salvador Has Stopped Using Public Funds to Invest in Bitcoin
According to a post and screenshot by crypto KOL Crypto Rover, the International Monetary Fund (IMF) stated that El Salvador has stopped using public funds to invest in Bitcoin.
Lending Protocol Loopscale Attacked, Approximately 5.7 Million USDC and 1,200 SOL Stolen
Solana-based lending protocol Loopscale disclosed on X platform that at 11:30 AM EST today (Beijing time April 26, 23:30), the RateX PT token pricing function was manipulated, resulting in approximately 5.7 million USDC and 1,200 SOL stolen from Loopscale's USDC and SOL vaults. Currently, all Loopscale markets have been temporarily halted for further investigation. The security breach involves funds accounting for about 12% of Loopscale's total funds, affecting only depositors in the USDC and SOL vaults. Borrowers and revolving loan users were unaffected. They are working to quickly restore repayment functionality to avoid unforeseen liquidation situations. The team is closely collaborating with law enforcement officials, security experts, and investors to recover the funds. More information and a comprehensive technical analysis report will be published immediately upon availability. This is a vulnerability originating from the RateX PT token market on Loopscale. RateX itself is unaffected.
According to Decrypt, since Bitcoin's fourth halving in April 2024, BTC price has only increased by 43.4%, far below the 7,000%, 291%, and 541% increases recorded after the previous three halvings, marking the worst performance post-halving. Analysts point out that macro economic uncertainty, Trump administration's trade policies, ETF fund outflows, and market structure changes have collectively weakened the halving's upward effect. Additionally, as the Bitcoin market matures, price volatility decreases, with its 60-day volatility dropping from 200% in 2012 to about 50% currently, indicating potentially more stable but limited future growth.
Analyst: Bitcoin Faces Strong Resistance in $94,125 to $99,150 Range
Crypto analyst @ali_charts on X platform pointed out that Bitcoin faces strong resistance in the $94,125 to $99,150 range, with approximately 2.61 million wallets hoarding 1.76 million bitcoins in this price range.
According to Cointelegraph, the crypto project World Liberty Financial (WLFI), supported by the Trump family, still faces portfolio shrinkage and liquidity constraints after completing two rounds of token sales totaling $550 million. WLFI, launched in September 2024, primarily raised funds by selling non-transferable WLFI tokens. Despite holding assets such as Wrapped Bitcoin (WBTC), Ethereum (ETH), and Avalanche (AVAX), some investments like Movement (MOVE) and Mantle (MNT) have suffered significant losses. As of April 24, investments in MNT, MOVE, ONDO, and ETH have experienced double-digit losses, with MOVE being hit particularly hard. WLFI's total investment value has dropped by over 50%, with investment losses of approximately $2.1 million. Additionally, WLFI's close ties to the Trump administration have raised widespread questions about conflicts of interest and market manipulation, with ongoing scrutiny of the project's transparency and compliance.
Analysis: If Citigroup's Stablecoin Supply Forecast is Realized, BTC Could Reach $285,000 by 2030
According to Coingape, Citigroup's latest report predicts that the total stablecoin supply will grow to $1.6 trillion in the baseline scenario and $3.7 trillion in the optimistic scenario by 2030. The analysis suggests that if Citigroup's forecast is realized and the regulatory momentum under Trump's policies continues, Bitcoin is expected to enter a price discovery phase. Based on the historical ratio of stablecoin growth to BTC price appreciation—a 6.7-fold increase in stablecoins could translate to a 3 to 5-fold growth in Bitcoin—the Bitcoin price could reach $285,000 by 2030, with a more optimistic upper limit potentially approaching $475,000 per coin. Even under conservative assumptions (with only 25% of stablecoin growth shifting to Bitcoin), Bitcoin could still grow 200% to 250% from current levels, with a projected price between $190,000 and $237,500 by 2030.
Next Week's Macro Outlook: Super Data Week Approaches, Non-Farm and PCE to Follow
As concerns about the Federal Reserve's independence and ongoing trade friction dissipated early this week, the week can be viewed as a positive one. On Friday, the U.S. stock market remained relatively flat, with market participants continuing to await more information about the trade war. Looking ahead to next week, although the Federal Reserve has entered a "quiet period" and the domestic market is about to enter the May Day holiday, there are still many significant schedules, including but not limited to non-farm data, U.S. Q1 GDP data, PCE inflation data, and the Bank of Japan's interest rate decision... Here are the key points the market will focus on in the new week: Monday 22:30, U.S. April Dallas Fed Business Activity Index; Tuesday 22:00, U.S. March JOLTS Job Openings, April Conference Board Consumer Confidence Index; Wednesday 09:30, China's April Official Manufacturing PMI; Wednesday 09:45, China's April Caixin Manufacturing PMI; Wednesday 17:00, Eurozone Q1 GDP Year-on-Year Preliminary Value; Wednesday 20:15, U.S. April ADP Employment; Wednesday 20:30, U.S. Q1 Labor Cost Index Quarter-on-Quarter, Q1 Real GDP Annualized Quarter-on-Quarter Preliminary Value, Q1 Real Personal Consumption Expenditure Quarter-on-Quarter Preliminary Value, Q1 Core PCE Price Index Annualized Quarter-on-Quarter Preliminary Value; Wednesday 22:00, U.S. March PCE Price Data, March Personal Spending Month-on-Month, March Pending Home Sales Index Month-on-Month; Thursday 19:30, U.S. April Challenger Corporate Layoffs; Thursday 21:45, U.S. April S&P Global Manufacturing PMI Final Value; Friday 20:30, U.S. April Seasonally Adjusted Non-Farm Employment, April Unemployment Rate. The ADP employment report, known as the "mini non-farm," will also be released next Wednesday, along with the latest PCE inflation and consumption data. However, the true focus will be on the non-farm employment report to be released next Friday, with intense speculation about when the Federal Reserve will cut rates. Non-farm employment growth is expected to slow from 228,000 in March to 130,000 in April, with the unemployment rate remaining unchanged at 4.2%. Average wages in April may increase by 0.3% month-on-month. For the U.S. dollar, a series of concerning data is almost certainly negative, but for U.S. stocks, if rate cut hopes are boosted and market sentiment is not overshadowed by recession concerns, the stock market may rise.
