The crypto market has started the week on a bullish note, registering a jump of over 2% and rising to $2.75 trillion as cryptocurrency prices registered a sharp increase thanks to a perceived threat to the Federal Reserve’s independence after President Trump’s comments on Fed Chair Jerome Powell. Bitcoin (BTC) surged past the $85,000 mark and is up over 2%, trading around $87,100, with bulls eying the $90,000 level. Ethereum (ETH) has also registered a notable increase, up over 1% and trading around $1,630. Meanwhile, Ripple (XRP) is up 1.26% and trading at $2.10. However, Solana (SOL) is trading in the red, down over 1% and trading at $139, as it struggles to cross $140. Other cryptocurrencies, including Dogecoin (DOGE) , Cardano (ADA) , Chainlink (LINK) , Stellar (XLM) , Toncoin (TON) , Hedera (HBAR) , Sui (SUI) , and Litecoin (LTC) registered notable increases to start the week positively. However, Polkadot (DOT) registered a drop of almost 1% at $3.89. Tether Revenue Closes In On $1.5 Billion Tether (USDT), the largest stablecoin in the crypto industry, has seen its revenue soar, generating $1.46 billion this year, a figure expected to cross $1.5 billion in the next few weeks. Tether’s revenues are significantly higher than competing stablecoins like Circle (USDC) and other players, including Tron (TRX), Solana (SOL), and Ethereum. Ethereum, one of the most profitable entities in the crypto industry, has seen its revenue dwindle below $200 million. Meanwhile, Circle has generated $620 million, as it prepares for its Initial Public Offering. Solana has generated $159 million, primarily due to the burgeoning growth of meme coins within its ecosystem. Meanwhile, Tron’s revenue is closing in on the $1 billion mark. Tether has witnessed considerable growth this year as customers pivot to stablecoins, with its monthly volume at $266 billion and total transactions for the year exceeding $1.5 trillion. Tether generates profits by investing its funds in Treasuries, often regarded as safe assets. US government bonds have generated considerably higher yields over the past few years with interest rates above average. The company only has a handful of employees and limited operational costs, making it one of the most profitable companies in the world. Charles Schwab To Offer Direct Spot Crypto Services Charles Schwab CEO Rick Wurster has confirmed the firm plans to offer direct spot crypto services pending regulatory clarity, planning to build on existing crypto-linked ETFs and futures offerings. The announcement comes after a 400% surge in traffic to its crypto resources, with over 70% of visitors being prospective clients. Wurster stated, “We’re seeing robust engagement with the existing crypto ETFs that can be bought in the marketplace, the closed-end funds that we make available on our platform, and bitcoin futures, which are also available on our platform. We’ve seen that in the level of new account growth and the level of engagement in our crypto site where we saw a 400% increase in traffic to it recently, 70% of whom were prospects and what that — were not clients.” Wurst noted that the first quarter saw record engagement, including two all-time high trading days in April. CFO Mike Verdeschi discussed macroeconomic headwinds, including expectations of up to four rate cuts in 2025, which could put pressure on net interest margins. However, strong cash inflows and reduced high-cost debt boosted Q1 revenues. Schwab remains focused on balancing its growth investments, including 16 new branches and AI tools. Wurster added that Schwab intends to roll out its direct spot crypto trading by April 2026. “Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto, and our goal is to do that in the next 12 months and we’re on a great path to do that.” Vitalik Buterin Proposes Replacing The Ethereum Virtual Machine Ethereum co-founder Vitalik Buterin has proposed replacing the Ethereum Virtual Machine (EVM) with RISC-V as the new foundation for Ethereum smart contracts. RISC-V is an open-source instruction set architecture. Buterin stated that the switch could significantly improve the performance and simplicity of Ethereum’s execution layer. Buterin believes the EVM’s limitations have become a long-term bottleneck for scaling, and replacing it with RISC-V could help provide significant improvements in proving efficiency, particularly for zero-knowledge-based scaling. Currently, ZK-EVMs translate Ethereum operations into RISC-V before producing proofs. Buterin recommends that developers bypass this step by writing contracts that compile directly to RISC-V. Ethereum programming languages like Solidity and Vyper would focus on RISC-V instead of the EVM. Buterin believes this modification could increase prover efficiency by over 50 times or more, helping Ethereum maintain its advantage over faster blockchains like Solana. Bitcoin (BTC) Price Analysis Bitcoin (BTC) registered a sharp increase Monday morning to surge past $87,000 after the US Dollar index fell to a three-year low. The drop came after reports that Donald Trump was exploring ways to remove Federal Reserve Chair Jerome Powell emerged. The reports also pushed gold prices to a record high as concerns about the Federal Reserve’s independence grew. BTC’s price action was muted last week as it traded within a narrow range and struggled to push above $85,000. However, that changed after BTC surged nearly 3% to cross $87,000 and moved to its current level at around $87,500, renewing hopes of a move to $90,000. Market experts believe that the National Economic Council Director Kevin Hassett’s comments about Trump wanting to remove Powell triggered a selling-off of the Dollar and led to an uptick in the price of BTC and Gold. Markus Thielen, founder of 10x Research, stated, “The move in bitcoin to $87,000 appears to be driven by a sharp drop in the US dollar and a +2% rally in gold, both triggered by Trump's push to replace Fed chair Powell. While a trade deal with Japan may be announced soon, the key catalyst today is the perceived threat to Fed independence.” With BTC above the key $85,000-$86,000 range, analysts believe a move to $90,000 is only a matter of time. The price jump also hinted at the growing correlation between Gold and Bitcoin, with the Kobeissi Letter observing, “The narrative in both gold and Bitcoin is aligning for the first time in years. Gold has hit its 55th all-time high in 12 months and Bitcoin is officially joining the run. Gold and Bitcoin are telling us that a weaker US Dollar suggests more uncertainty is on the way.” As a result, BTC, which was relatively muted last week, has seen a substantial jump as bullish sentiment returns to the market. The flagship cryptocurrency rallied after Thursday’s (April 10) drop of almost 4%, rising nearly 5% on Friday to reclaim $80,000, move past the 20-day SMA and settle at $83,370. Buyers retained control on Saturday as the price rose 2.41% to push above the 50-day SMA and $85,000 to $85,378. However, BTC lost momentum on Sunday, dropping almost 2%, slipping below the 50-day SMA and settling at $83,776. Monday saw BTC back in positive territory, rising 1.01% to $84,619. It raced to an intraday high of $86,533 on Tuesday but lost momentum after reaching this level and dropped 1.08% to $83,701. Source: TradingView Buyers returned to the market on Wednesday as BTC registered a marginal increase and moved to $84,031. The price continued pushing higher on Thursday, rising 1.11% to cross the 50-day SMA and settle at $84,962. However, it could not go above $85,000 and registered a marginal drop on Friday to settle at $84,518. Price action remained muted over the weekend as BTC registered marginal increases on Saturday and Sunday to reclaim $85,000 and settle at $85,240. Price action registered a significant uptick during the current session with BTC up almost 3% and trading at $87,462. If BTC can push above the 200-day SMA, it could move to $90,000. Ethereum (ETH) Price Analysis Ethereum (ETH) is up almost 4% during the ongoing session as the crypto markets rebounded after the Dollar index fell thanks to Donald Trump’s comments about Fed Chair Jerome Powell. ETH’s price action was muted over the past week as neither buyers nor sellers could decisively influence the market. While ETH has recovered during the ongoing session, technical indicators show weakness. The price has struggled to overcome the resistance at around $1,700, which has been pushing back attempts to reach higher levels. ETH’s outlook has worsened thanks to recent sell-offs by large holders. World Liberty Financial, linked to the Trump family, recently sold 5,400 ETH, increasing the short-term supply of the asset. ETH has also registered a decline in active addresses over the past two weeks, suggesting dwindling retail interest. However, Ethereum staking has gradually increased, indicating long-term holders' confidence in Ethereum’s future. Price action was bullish last weekend as ETH recovered after a drop of almost 9% on Thursday (April 10). Buyers returned to the market on Saturday as ETH rose 2.92% on Friday and settled at $1,566. Bullish sentiment persisted on Saturday as ETH registered an increase of almost 5^% to push above $1,600 and settle at $1,644. However, it lost momentum on Sunday, falling nearly 3% to end the weekend on a bearish note at $1,596. ETH was back in positive territory on Monday, rising 1.66% to reclaim $1,600 and settle at $1,622. Source: TradingView Despite the positive start, the price was back in the red on Tuesday, falling over 2% and settling at $1,589. Sellers retained control on Wednesday as ETH registered a marginal decline and settled at $1,577. Price action was muted over the next two sessions as ETH registered marginal increases on Thursday and Friday to settle at $1,588. Sentiment registered an uptick on Saturday, rising 1.51% to reclaim $1,600 and settle at $1,612. However, ETH was back in the red on Sunday, dropping almost 2% to $1,586. The current session sees ETH up nearly 4%, having moved past $1,600 and the 20-day SMA and trading at $1,645. ETH must reclaim and push above $1,700 for bullish sentiment to take hold. A push above the 50-day SMA could see ETH reclaim $2,000. Solana (SOL) Price Analysis Solana (SOL) has continued its upward trajectory after recovering from a low of $95 (April 7). However, its momentum has stalled around $140 as it faces considerable selling pressure. A beak above this level could see SOL hit $150, indicating a bullish reversal. SOL was bullish over the previous weekend, rising almost 8% on Friday and settling at $121. Buyers retained control on Saturday as the price rose by 9% to cross the 20-day SMA and settle at $132. However, it could not cross the 50-day SMA and was back in the red on Sunday, dropping over 3% to $128. SOL registered a marginal increase on Monday and moved to $129 but fell 2.48% on Tuesday as selling pressure returned and settled at $126. Source: TradingView However, sentiment changed on Wednesday, and SOL registered an increase of over 4% to reclaim $130, cross the 50-day SMA, and settle at $131. Buyers retained control on Thursday as SOL rose 2.57% and settled at $134. It lost momentum on Friday, registering a marginal decline and settling at $134. Bullish sentiment returned on Saturday as the price registered an increase of over 4% and settled at $139. With sellers active at this level, SOL fell 1.44% to end the week on a bearish note at $137. However, SOL is back in the green during the ongoing session, with the price up almost 2% and trading at $140. Dogwifhat (WIF) Price Analysis Dogwifhat (WIF) has registered a significant uptick over the past few sessions as it overcomes the bearish sentiment that saw the price drop to a low of $0.362 last week. WIF has seen considerable movement over the past few sessions, starting with an increase of almost 9% on Friday (April 11) to settle at $0.397. Bullish sentiment intensified on Saturday as WIF surged 17.47% to cross the 20-day SMA and settle at $0.466. However, WIF lost momentum on Sunday and fell almost 5% to end the week at $0.444. The price raced to an intraday high of $0.479 on Monday but fell after reaching this level, dropping over 3% to $0.430. Selling pressure intensified on Tuesday as WIF fell almost 10%, slipping below the 20-day SMA and settling at $0.389. Source: TradingView Sellers retained control on Wednesday as the price fell nearly 3% to $0.378. WIF attempted a recovery on Thursday but lost momentum after reaching $0.402, ultimately registering a marginal decline and settling at $0.375. However, sentiment changed on Friday as buyers returned to the market. As a result, WIF rose over 7% to cross the 20-day SMA and settle at $0.401. Price action remained bullish over the weekend as WIF rose 3.89% on Saturday and 2.55% on Sunday to settle at $0.428. The current session sees WIF up over 3% as buyers look to build momentum and push the price above the 50-day SMA. A bullish MACD suggests buyers have the upper hand, and the recent uptrend could continue. Arbitrum (ARB) Price Analysis Arbitrum (ARB) has also registered a notable uptick over the past few sessions as it looks to overcome a key resistance level. ARB registered a jump on Friday (April 11), rising over 3% to $0.294. Bullish sentiment intensified on Saturday as the price registered an increase of 5.46% and settled at $0.311. However, it was back in the red on Sunday, dropping 3.41% to $0.30. ARB continued to drop on Monday after a failed recovery, slipping below $0.30 and settling at $0.295. Bearish sentiment intensified on Tuesday as the price fell 5.47% to $0.279. ARB encountered volatility on Wednesday as buyers and sellers attempted to establish control. Sellers ultimately gained the upper hand as the price registered a marginal decline and settled at $0.279. Source: TradingView However, sentiment changed on Thursday as ARB registered an increase of 1.33% and moved to $0.282. Buyers retained control on Friday, with the price rising almost 3% and settling at $0.290. Bullish sentiment intensified on Saturday as ARB rose over 3% to cross the 20-day SMA and settle at $0.30. ARB continued its upward trajectory on Sunday, increasing 1.36% and settling at $0.304. The current session sees ARB up almost 3% and trading at $0.313. The MACD is currently bullish, indicating that buyers have the upper hand, and we can expect the recent uptick to continue. Litecoin (LTC) Price Analysis Litecoin (LTC) is looking to build momentum and reclaim $85 as it continues its steady increase, which began on Thursday. The price fell into the red last weekend after a substantial jump on Saturday (April 12), which saw LTC settle at $78.62. However, it lost momentum on Sunday, falling over 1% to end the weekend at $77.76. Sellers retained control on Monday as LTC registered a marginal decline and fell over 2% on Tuesday to settle at $75.30. LTC continued to decline on Wednesday, dropping 1.24%, slipping below $75 and settling at $74,37. Source: TradingView The price recovered on Thursday, registering a marginal increase and settling at $74.88. LTC continued to push higher on Friday, rising 1.49% to reclaim $75 and settle at $76. Price action remained positive over the weekend as LTC registered a marginal increase on Saturday and crossed the 20-day SMA on Sunday to settle at $77.72. The current session sees LTC up over 4%, crossing $80 and trading at $80.92. Buyers will look to retain control, push the price above the 50-day SMA, and reclaim $90. Polkadot (DOT) Price Analysis Polkadot (DOT) is looking to reclaim $4, a level it lost after a substantial decline during the first week of April. Sentiment began changing towards April 9. DOT decisively reversed the prevailing bearish sentiment on Friday (April 11), when it registered an increase of 2.60%. Buyers retained control on Saturday, rising almost 5% to settle at $3.72. However, it lost momentum on Sunday, dropping 1.34% and settling at $3.67. DOT remained static at $3.67 on Monday but dropped over 4% on Tuesday as sellers took control and settled at $3.52. However, sentiment changed on Wednesday as the price registered an increase of 1.14% and settled at $3.56. Source: TradingView Buyers retained control on Thursday as DOT rose 2.25% and settled at $3.64. DOT continued to push upwards on Friday, registering an increase of almost 1% and settling at $3.67. Bullish sentiment intensified on Saturday as DOT surged nearly 6% to cross the 20-day SMA and settle at $3.88. Despite the positive sentiment, DOT remained static on Sunday but is up 1.29% during the ongoing session and trading at $3.94. Buyers will look to retain control and build momentum for a push towards $4. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
https://www.digistore24.com/redir/325658/ceobig/
