Daily Market Report – April 28, 2025
The cryptocurrency market faced downward pressure over the past 24 hours, with Bitcoin (BTC) falling 1.22% to $93,296.02. BTC traded between a high of $94,545.46 and a low of $92,818.00 during the session. Ethereum (ETH) experienced a sharper decline, dropping 2.51% to $1,771.29 after fluctuating between $1,818.39 and $1,753.24. Despite the price weakness, overall sentiment remained resilient, with the Fear & Greed Index holding at 53, within the “Neutral/Greed” zone. Futures liquidations totaled $100.60 million, reflecting relatively high intraday volatility and repositioning.
Long/short ratios remained narrowly balanced. BTC’s long positions stood at 50.46%, while ETH longs were slightly lower at 49.22%, suggesting cautious optimism among traders. Among top gainers, BEE/AIC led the surge with a massive +103.16% rally, followed by BDT/USDT up +73.47%, and PENGU/USDT gaining +33.97%, signaling selective strength among certain altcoins.
On-chain metrics were more encouraging, with total value locked (TVL) across all blockchains rising back above the $100 billion mark, reaching $100.607 billion. On-chain sentiment remained positive, with HOUSE breaking through $70 million in market cap to hit a new all-time high, though it later pulled back to $50 million. Meanwhile, TRENCH saw its market cap increase by over 40% in 24 hours, now sitting at $6 million.
On the derivatives side, Synthetix completed the liquidation of its legacy SNX staking positions and continues progressing toward the Perps v4 upgrade. Finally, Michael Saylor hinted at new disclosures related to the Bitcoin Tracker, potentially revealing fresh Bitcoin purchases next week, adding further intrigue to the institutional side of the market.
Several key developments supported market optimism. Cboe Global Markets officially launched the Cboe FTSE Bitcoin Index futures today, expanding institutional Bitcoin derivatives offerings and marking another step toward broader crypto integration into traditional financial markets.In a milestone for crypto education, Spain’s University of the Hespérides launched the world’s first Spanish-language Master’s program focused exclusively on Bitcoin, reflecting a growing commitment to building blockchain literacy globally. Overall, despite today’s mild declines in BTC and ETH, the market remains structurally resilient, with institutional expansion, education initiatives, and cautious optimism setting the tone for the coming week.
Michael Crag
