Bitwise CEO: "BTC" Google Search Interest Near Bottom Indicates Current Price Not Driven by Retail FOMO

On April 28th, James Van Straten, an analyst at CoinDesk, stated that up to now, Bitcoin has decreased by approximately 1.5% since December 31st of last year. Its performance is between the 24% increase in gold and the more than 7% decline in the Nasdaq 100 index. Thus, positioning Bitcoin as a leveraged tech stock or digital gold leans slightly more towards the digital gold view, but only to a certain extent. By analyzing the correlation of Bitcoin's 30-day moving average, it currently shows a strong correlation with gold, reaching 0.70, while having a weaker correlation with the Nasdaq 100 index at 0.53. This indicates that Bitcoin's performance is closer to that of gold rather than tech stocks. The correlation coefficient ranges from 1 (strong positive correlation) to -1 (strong negative correlation). Last week, the price of Bitcoin rose by 10%, marking the strongest performance since the significant price surge following President Trump's election victory on November 17th of last

On April 28th, 10x Research issued an analysis report indicating that in the short term, the resistance level between $94,000 and $95,000 will continue to limit Bitcoin's upward driving force. Two reversal indicators have turned bearish, with the stochastic indicator rising to 95%, indicating a short-term downside risk. Nevertheless, analysts hold the view that this merely represents a short-term consolidation stage prior to breaking through the $100,000 level.

April 28th. Based on the latest weekly report from CoinShares, the total amount of funds flowing into digital asset investment products during the last week reached $3.4 billion. This figure hit the highest level since mid-December 2024 and marked the third-highest weekly inflow on record. Bitcoin investment products attracted $3.18 billion in inflows last week. Currently, its total assets under management (AUM) has reached $132 billion, which is the highest level since the end of February. After experiencing eight consecutive weeks of outflows, Ethereum investment products also witnessed inflows of $183 million last week. Among altcoins, only Solana had outflows last week, totaling $5.7 million. Sui and XRP saw inflows of $20.7 million and $31.6 million respectively.

On April 28th, the Sui ecosystem liquidity staking protocol Haedal announced on social media that the airdrop inquiry page has been launched. 5% of the total supply of HAEDAL is allocated to this airdrop, and it will open for claims at 20:00 (Beijing Time) on April 29th.

On April 28th, Binance Wallet is set to launch the MilkyWay TGE. The subscription period will be from April 29th, 2025, at 16:00 to 18:00 (UTC+8). The Alpha point threshold will be announced prior to the subscription time on April 29th.

Tether just minted another 1B $USDT on #Tron. Since January 29, Tether has minted a total of 12B $USDT on #Tron. Currently, the total supply of $USDT on #Tron has reached $71.7B.