Daily Market Report – April 18, 2025
The cryptocurrency market edged upward over the past 24 hours, with Bitcoin (BTC) gaining 0.90% to reach $84,863.65 and Ethereum (ETH) posting a marginal 0.03% increase to $1,582.10. BTC traded within a range of $83,741.99 to $85,491.64, while ETH fluctuated between $1,563.70 and $1,616.28. Market sentiment remained relatively optimistic, with the Fear & Greed Index rising to 32 (“Fear”), despite a slight rise in volatility marked by $20.76 million in futures liquidations.
Positioning across derivatives markets remains closely balanced. Bitcoin’s global long/short ratio stood at 50.48% to 49.52%, while Ethereum’s was nearly even at 50.02% to 49.98%. On the altcoin front, BIO led the top gainers with a 15.80% increase, followed by BDT (+11.53%) and SPA (+9.42%), reflecting strong niche interest despite the market’s overall pause.
In ecosystem developments, the total value locked (TVL) across all chains slightly declined to $89.371 billion. However, Solana’s decentralized exchanges (DEXs) recorded over $16 billion in trading volume over the past week—ranking first among all ecosystems. On-chain activity continued to pick up, with DARK’s market capitalization surpassing $40 million and Italianrot’s value newly discovered and estimated at $5 million.
Coinbase also announced the launch of perpetual contracts for WCT, BABY, KERNEL, and PROMPT via its international platform.
In commodities, gold broke through the $3,340 level once again, setting a new all-time high amid rising demand for safe-haven assets. Separately, OpenAI reiterated its plans to launch a new social networking platform similar to X, signaling continued overlap between the AI and Web3 sectors
Cryptocurrency & Web3 Highlights
The cryptocurrency market faced increased volatility, with Bitcoin (BTC) holding steady around $85,000 and Ethereum (ETH) dipping to $1,580. Push Protocol continued to enhance Push Chain, its Layer 1 blockchain focused on improving scalability and enabling better interoperability for decentralized applications. Meanwhile, EigenLayer made strides in Ethereum security by launching a new ‘slashing’ feature, aiming to further decentralize the network. In the investment space, Stellar announced the tokenization of $3 billion in real-world assets to be moved on-chain in 2025, signaling greater institutional adoption of blockchain technology. Kraken also made headlines with its planned IPO restructuring, which involved significant layoffs to streamline its operations.
On the regulatory front, Coinbase is under investigation by the SEC over accusations of front-running in the launch of a new token. Additionally, Futureverse acquired Candy Digital, expanding its footprint in the NFT space. Meanwhile, Wyoming is considering whether stablecoins should be regulated under current SEC guidelines, reflecting increasing state-level attention to crypto regulation. These developments showcase the ongoing evolution and growing pains of the Web3 and cryptocurrency ecosystems.
International Macroeconomic & Financial Highlights
President Donald Trump recently challenged the independence of the Federal Reserve, stating he could potentially force out Fed Chair Jerome Powell. This came a day after Powell emphasized that the Fed was not in a rush to cut rates and needed more clarity on the economic impact of ongoing trade tensions. Powell further underscored the importance of keeping long-term inflation expectations anchored to avoid a one-time price increase turning into a sustained inflation problem. These remarks highlight the tension between the Trump administration and the Federal Reserve, which has maintained its stance on caution despite pressure.
On the monetary policy front, the European Central Bank (ECB) made another move to counteract economic slowdown, cutting its deposit rate by a quarter-point to 2.25%. This marks the seventh rate cut since June 2024, with the ECB citing increased downside risks to growth stemming from ongoing trade tensions, which are expected to weigh on the euro-area economy, investment, and consumption.
At the White House, President Trump met with his Italian counterpart to discuss potential trade negotiations, focusing on tariff policies and economic cooperation. These high-level talks are expected to impact EU-U.S. relations in the coming months. In Thailand, the process of selecting a new central bank governor began, marking a key development in the country’s monetary policy outlook. Meanwhile, in South Korea, stocks in the entertainment sector surged after presidential frontrunner Lee Jae-myung pledged more government support for cultural exports, driving optimism in the industry.
In commodities, gold hit a record high on April 17, driven by heightened demand for safe-haven assets amid global uncertainty. However, gold prices later turned lower as market sentiment shifted. Netflix saw a major boost, jumping in value after surpassing EPS estimates. This reflects the streaming giant’s continued strong performance amidst broader market challenges. On the U.S. stock market, equity performance remained volatile on April 17. The S&P 500 closed 1.5% lower at 5,275.70, Nasdaq Composite fell 2.1% to 16,307.16, and Dow Jones dropped 1.3% to 39,669.39. Concerns over trade uncertainty, tariff impacts, and the ongoing tension with China continued to drive market negativity.
Michael Crag
