Daily Market Report – April 29, 2025
The crypto market saw modest gains over the past 24 hours, with Bitcoin (BTC) rising 1.72% to $94,705.62 and Ethereum (ETH) climbing 1.35% to $1,791.93. Futures liquidations totaled $100.6 million, and the Fear & Greed Index remained in “Greed” territory at 53, reflecting stable sentiment. Both BTC and ETH global long/short ratios stayed balanced, with longs making up just over 50%, indicating cautious optimism among traders.
Among the top performers, TERRA/USDT surged 195.55%, HJH/USDT jumped 90%, and COOKIE/USDT gained 24.52%, highlighting strong momentum in select altcoins. Meanwhile, the total value locked (TVL) across all chains held steady at $100.601 billion, showing little change from yesterday. Sentiment for smaller tokens remained very positive, with TROLL’s market cap nearly doubling to $31.2 million and Wizard rebounding by 38% to a $5.4 million market cap.
On the development front, Ether.fi launched a $40 million venture capital fund, with ResolV, Rise Chain, and Symbiotic named as the first investment projects. In regulatory news, the Arizona House of Representatives passed two bills supporting Bitcoin reserves. Abu Dhabi’s sovereign wealth fund also announced plans to collaborate on the launch of a dirham-backed stablecoin. Elsewhere, Jupiter unveiled its Ultra v2 mode to enhance trading efficiency and security. Notably, large-scale accumulation activity continued, with Strategy spending $1.42 billion over the past week to acquire 15,355 BTC.
The market remains upbeat, supported by rising prices, positive sentiment around altcoins, fresh venture capital initiatives, and increased institutional interest, although balanced trading positions suggest investors are keeping a close eye on volatility ahead.
Michael Crag
