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
Galaxy Research Chief: U.S. OFAC Sanctions List Involves 518 Bitcoin Addresses
The U.S. Treasury's OFAC sanctions list includes 518 Bitcoin addresses that have significantly engaged in crypto transactions, currently holding about 9,306 BTC valued at $707 million, highlighting the relationship between cryptocurrency and financial regulation.
GateNews1h ago
Bitcoin Swings on Hormuz Strait Reports, Triggering $762M in Liquidations
Bitcoin rose to $78,000 but dropped to $76,091 following reports of tensions in the Strait of Hormuz. Iran's actions triggered $762 million in liquidations among traders, with implications for crypto markets as Iran accepts payments in bitcoin and other currencies to navigate sanctions.
GateNews3h ago
Former UK PM Liz Truss Publicly Endorses Bitcoin as Tool Against Currency Debasement
Former UK Prime Minister Liz Truss criticized Britain's economic trajectory, citing high taxes and regulations. She advocates for Bitcoin to combat currency debasement and is organizing a conference to promote a movement for sovereignty and freedom.
GateNews14h ago
BTC breaks below 76000 USDT
Gate News bot message, Gate market data shows that BTC has broken below 76000 USDT, current price is 75996.9 USDT.
CryptoRadar15h ago
Goldman Sachs Files Bitcoin Income ETF Using Options Strategy
Goldman Sachs proposed a Bitcoin-focused income ETF that avoids direct Bitcoin holdings, using linked ETFs and options strategies for income. This filing reflects increased competition in the crypto investment space among major firms.
CryptoFrontNews16h ago
