Willy Woo: Bitcoin's Trajectory Closer to Nasdaq, or Still a Decade Away from Being Recognized as a Safe Haven Asset

April 24 — Pre-market trading for U.S. semiconductor stocks continued to climb, per Bitget data. Intel (INTC) extended gains to 30%, Advanced Micro Devices (AMD) rose more than 10%, Arm Holdings (ARM) jumped over 8%, and Taiwan Semiconductor Manufacturing Co. (TSMC) gained 4%.

On Thursday, April 24, Strategy founder Michael Saylor declared “Winter’s over” on X. His firm has since picked up an extra 13,927 bitcoins, pushing its total holdings to 780,897 BTC. But market analysts aren’t all on board with that take. AdLunam co-founder and market analyst Jason Fernandes noted: “Even if the Bitcoin winter is over — and I don’t buy that view — altcoins are still in a deep chill.” Quantum Economics founder and ex-eToro senior market analyst Mati Greenspan argues that since the October 10 flash crash (which wiped out roughly $19 billion in liquidations in 24 hours), Bitcoin’s price moves and the broader crypto market’s haven’t even qualified as a crypto winter. “I’m not sure I’d strictly call the latest price moves a crypto winter — this looks more like a big retracement in a wider bull market cycle,” he said. Still, Greenspan backs Saylor’s hint that Bitcoin has hit bottom and is set to keep climbing. “Yeah, I think we’ve probably seen the bottom,” he added

April 24 – Per HyperInsight monitoring (source: https://t.me/HyperInsight), a whale using the address 0x3109eb59201623fe283d1b110b054e52222f6183 opened a 16x leveraged short position on BTC in the past half hour. **Position details**: - Size: 653 BTC - Value: ~$50.6 million - Average entry price: $77,470 - Liquidation price: $81,308 Additionally, roughly 10 days ago, this new address and its on-chain associated addresses withdrew 1,351 ETH total from HitBTC. The ETH was later sold on Hyperliquid, netting ~$3.18 million. As of today, the whale’s cumulative profit across multiple positions stands at $720,000. Address: 0x3109eb59201623fe283d1b110b054e52222f6183

April 24 – On-chain analyst Wu Ji reports that the KelpDAO hacker swapped all 75,700 ETH for BTC via THORChain yesterday. Separately, the hacker who stole $98 million in assets from Balancer last November also converted ETH to BTC through THORChain today. As of today, the Balancer hacker has already exchanged 7,000 ETH for 204.7 BTC (valued at $15.88 million), with the operation still ongoing. Currently, the hacker holds 15,000 ETH (worth $34.65 million) on the Ethereum chain and 204.7 BTC (valued at $15.88 million) on the Bitcoin chain.

April 24th — Per GMGN monitoring, Base ecosystem token REPPO jumped again this afternoon, posting a 36% gain in six hours. It broke through a $25 million market cap to hit an all-time high of $25.1 million, marking an 82% increase over 24 hours. Trading volume for the same period totaled roughly $1.4 million. Earlier today, the token got a boost from two catalysts: the Reppo Foundation securing a $20 million strategic funding commitment from Bolts Capital, and its listing on a certain exchange. It briefly surged to a $20 million market cap before pulling back. BlockBeats reminds users that meme coins are extremely volatile, often fueled by market sentiment and concept hype, with no real underlying value or use cases. Investors should be wary of the associated risks.

April 24 – The People’s Bank of China (PBOC) and eight other government agencies have jointly released the **Administrative Measures for Online Financial Product Marketing**, which will take effect September 30, 2026, to comprehensively regulate the online marketing of financial products. A core rule prohibits any institution or individual from providing online marketing services or related facilities for illegal financial activities. Illegal financial activities are defined as engaging in financial services (including currency, payments, deposits, lending, insurance, securities, funds, futures, and foreign exchange) without authorization from financial regulators or in violation of national financial regulations. These include—but are not limited to—illegal fundraising, unapproved securities/futures activities, illegal deposit taking, unauthorized lending, virtual currency issuance and trading, illegal foreign exchange margin trading, and overseas entities offering financial ser