Crypto Price Analysis 4-24: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, RIPPLE: XRP, DOGWIFHAT: WIF, CELESTIA: TIA, TONCOIN: TON

The crypto market rally has taken a breather today as cryptocurrencies registered marginal declines. As a result, the crypto market cap has registered a drop of over 1% to $2.9 trillion. Bitcoin (BTC) extended its gains on Wednesday, rising to an intraday high of $94,662. However, it could not break past $95,000 and settled at $93,744. The flagship cryptocurrency is down over 1% during the ongoing session and trading around $92,433. Ethereum (ETH) also lost momentum, dropping over 1% after failing to reclaim $1,800. ETH is currently trading at around $1,771. Ripple (XRP) fell back in the red as well, dropping from a day high of $2.29 to its current level of $2.17. Solana (SOL) slipped below $150, falling almost 2% over the past 24 hours to $148. Dogecoin (DOGE) , Cardano (ADA) , Chainlink (LINK) , Stellar (XLM) , Toncoin (TON), Hedera (HBAR) , Polkadot (DOT) , and Litecoin (LTC) also registered notable declines. KuCoin debuts In Thailand Cryptocurrency exchange KuCoin is expanding its footprint in Southeast Asia by entering the lucrative crypto market in Thailand. According to an announcement on April 23, KuCoin plans to launch a platform offering digital assets and related products in the country. The announcement added that ERX Company Ltd has rebranded as KuCoin Thailand, effective April 22. ERX was Thailand’s first Securities and Exchange Commission-supervised digital token exchange. ERX had recently received a crypto exchange license from the Thai financial regulator. Existing ERX users have already migrated to the new platform, with the KuCoin TH app available on Android and iOS. KuCoin enters a crowded Thai market, with eight other companies approved as crypto and digital asset exchanges. These include WAAN Exchange, Gulf Binance, Thai Digital Assets Exchange, InnovestX Securities, GMO-Z.com Cryptonomics, Upbit Exchange, Bitkub Online and Orbix Trade. Russia Planning To Launch Crypto Exchange Russia’s finance ministry and central bank are mulling launching a crypto exchange for qualified investors under an experimental legal regime. According to Finance Minister Anton Siluanov, the platform will be aimed at super-qualified investors. “Together with the central bank, we will launch a crypto exchange for super-qualified investors. Crypto assets will be legalized, and crypto operations will be brought out of the shadows. Naturally, this will not happen domestically, but as part of the operations permitted under the experimental legal regime.” Russia’s central bank proposed allowing a limited number of investors with a certain amount of assets to buy and sell crypto including Bitcoin under a three-year experimental regime. Under the proposal, the bank created a new investor category “super-qualified investors” with an income threshold of 100 million rubles ($1.2 million) or a yearly income of at least 50 million rubles ($602,000). However, the deputy director of the Finance Ministry’s financial policy department, Osman Kabaloev, said the criteria for super-qualified investors was not yet final. “Perhaps it will be in this format, or these indicators will be somehow adjusted in one direction or another – this is possible, I think there will be a wide range of discussions.” Russia had announced a ban on using cryptocurrencies like BTC for payments under its first crypto law which came into force in 2021. However, it has since been attempting to make other inroads into crypto. SEC Crypto Task Force Planning Digital Asset Regulatory Sandbox The United States Securities and Exchange Commission’s Crypto Task Force met with El Salvador’s National Commission on Digital Assets (CNAD) representatives to discuss cross-border regulation and a sandbox project. The meeting centered around a collaboration between the two agencies to replicate CNAD’s crypto regulatory strategy in the US. The program will introduce a select group of experienced participants who will deploy limited funds, capped at $10,000 to manage risks while generating valuable regulatory insights. The sandbox program aims to establish two objectives. The first is to arm US-licensed finance brokers with crypto licenses from El Salvador’s CNAD. The second is to create two small-scale tokenized assets issued by a CNAD-licensed tokenization company. The SEC plans to use the information from the program to guide its data-gathering efforts, collaborating with participants to determine the appropriate scope and number of tokens to be issued. According to the SEC, the results will provide practical insights for shaping future US digital asset regulation. Bitcoin ETFs Register Record Inflows US spot Bitcoin ETFs registered a significant influx of capital on Tuesday, recording $936 million of net inflows. This is the largest single-day increase since January and reflects a growing interest among institutional investors in Bitcoin as a potential hedge against economic and geopolitical uncertainties. The inflows were distributed across 10 Bitcoin ETFs. Ark & 21Shares registered inflows worth $267.1 million, followed by Fidelity’s FBTC, which registered inflows worth $253.8 million. BlackRock’s IBIT registered inflows worth $193 million. Bitcoin ETFs have registered net inflows of over $1.4 billion over the past three days. According to analysts, the rest of Bitcoin is being driven by several macroeconomic factors, including persistent inflation and a weakening US Dollar. The jump in ETF inflows coincides with an uptick in BTC prices, which rose 9% over 2 days to surge past $90,000. Bitcoin (BTC) Price Analysis Bitcoin’s (BTC) rally is taking a breather during the ongoing session, stumbling after encountering resistance around $95,000. The flagship cryptocurrency is down almost 2% during the ongoing session, trading at $92,198. BTC registered a strong rally this week, surging past $87,000 on Monday and crossing $90,000 on Tuesday as bullish sentiment intensified. However, it could not cross $95,000 and declined during the ongoing session. Matt Mena, a crypto research strategist at 21Shares, attributed BTC’s breakout past $94,000 to several geopolitical signals and macroeconomic dynamics that have reconfigured investor strategies, including a softer diplomatic stance adopted by President Donald Trump towards China, and renewed clarity over Federal Reserve Chair Jerome Powell’s tenure. These developments, combined with inflation concerns and a weakening Dollar created a favorable environment for risk assets. “This rally isn’t retail-driven hype—it’s institutional capital positioning ahead of what many see as a new monetary and political regime.” The shift is visible not just in sentiment but also in how BTC is behaving relative to traditional markets. The analyst stated that BTC’s 7-day correlation to the S&P500 and Nasdaq had gone negative, highlighting that it is not being treated as a tech proxy but gaining traction as a hybrid macro asset. BTC’s surge saw over $500 million in crypto shorts liquidated as traders scrambled. Mena stated that resistance sits around $95,000, which could act as a brief barrier. “Short term, the next resistance sits around $95K, which could act as a brief pause point given the pace of this rally. Beyond that, the key psychological level remains $100K.” BTC reclaimed its position above the 50-day SMA on Thursday, rising 1.10% to $84,956. However, it lost momentum on Friday, registering a marginal decline and settling at $84,518. Sentiment changed over the weekend as BTC registered an increase of almost 1% to reclaim $85,000 and settle at $85,033. Buyers retained control on Sunday as the price registered a marginal increase and settled at $85,240. Source: TradingView BTC started the current week on a bullish note, rising almost 3% to surge past $87,000 and settle at $87,497. Bullish sentiment intensified on Tuesday as the price rallied nearly 7%, crossing the 200-day SMA and $93,000 to settle at $93,380. BTC encountered volatility on Wednesday as it approached the resistance around $95,000. Buyers ultimately gained the upper hand as BTC registered a marginal increase to settle at $93,744, but not before reaching an intraday high of $94,662. BTC lost momentum thanks to sellers being active at higher levels. As a result, the price is down almost 2% during the ongoing session. Sellers will look to retain control and drive the price below $90,000. However, if buyers regain control, BTC could make another attempt to cross $95,000 and push towards $100,000. Ethereum (ETH) Price Analysis Ethereum (ETH) briefly crossed $1,800 on Wednesday before pulling back and settling at $1,796. The world’s second-largest cryptocurrency registered a substantial bounce on Tuesday, rebounding from a key support level as bullish sentiment returned. Tuesday’s jump also helped ETH boost its market share which had fallen to record lows. The price soared almost 14% before hitting a wall of resistance and declining during the ongoing session. ETH has recovered nearly 30% since its crash to $1,400, prompting some analysts to speculate if the worst is over for the asset. One analyst stated on X, “You can hate Ethereum all you want, but when it has a big day, the entire crypto ecosystem goes up.” Active Ethereum addresses have also registered a notable increase, suggesting renewed strength in on-chain metrics and price action. According to data from CryptoQuant analyst Carmelo Alemán, the number of active Ethereum addresses rose by almost 10% between April 20 and April 22, suggesting an increase in network participation. “Ethereum is Heating Up! “Ethereum’s active addresses jumped from 306,211 to 336,366, representing a 9.85% increase in just 48 hours.” ETH’s price jump suggests buyers have regained control for the first time in weeks. Price action was relatively muted last week as ETH dropped 2.03% on Tuesday and 0.79% on Wednesday to settle at $1,577. ETH registered marginal increases on Thursday and Friday to settle at $1,588. The weekend was mixed for ETH as the price rose 1.51% on Saturday and settled at $1,612. However, it was back in the red on Sunday, dropping almost 2% to $1,586. Source: TradingView ETH raced to an intraday high of $1,656 on Monday but lost momentum after reaching this level. As a result, the price fell to $1,579, ultimately registering a marginal decline. Sentiment changed on Tuesday as markets rallied. ETH surged over 11%, crossing the 20-day SMA and reclaiming $1,700 to settle at $1,757. Buyers retained control on Wednesday as ETH reached an intraday high of $1,834 before settling at $,796, ultimately registering an increase of over 2%. ETH lost momentum during the ongoing session after failing to cross $1,800. As a result, the price is down over 3% and trading at $1,739. Solana (SOL) Price Analysis Solana’s (SOL) rally has also hit a wobble after coming across selling pressure between $150 and $155. SOL has traded in an upward trajectory since April 9. The price registered a notable drop last Tuesday after failing to cross the 50-day SMA, falling 2.48% to $126. However, it rebounded on Wednesday, rising over 4% to cross the 50-day SMA and settle at $131. SOL continued to push higher on Thursday, rising 2.57% to $134. Despite the momentum, SOL registered a marginal decline on Friday as bulls ceded control. Source: TradingView Positive sentiment returned on Saturday as SOL registered an increase of over 4% and settled at $139. However, the price was back in the red on Sunday, dropping 1.44% to $137. Sellers retained control on Monday as SOL fell almost 1% to $136. Sentiment changed on Tuesday as markets rallied. As a result, SOL rallied nearly 9% to reclaim $140 and settle at $148. The price continued to push higher on Tuesday, crossing $150 and settling at $151. However, SOL has lost momentum during the ongoing session, with the price down almost 3% and trading around $147. Ripple (XRP) Price Analysis Ripple (XRP) has seen price action pick up this week as it surged to $2.24 on Tuesday. However, with markets in the red, the price is down 3.34% during the ongoing session, with sellers in control. XRP’s price action was relatively muted the past week. It registered a drop of 2.02% on Tuesday and a marginal decline on Wednesday to settle at $2.08. Price action remained bearish on Thursday and Friday as XRP dropped 0.86% and 0.23% to $2.06. Source: TradingView Despite the overwhelming bearish sentiment, XRP recovered on Saturday, rising 1.25% to $2.08. However, it was back in the red on Sunday, registering a marginal decline to end the weekend on a bearish note at $2.07. XRP registered a marginal increase on Monday before surging over 6% on Tuesday to cross $2.20 and settle at $2.21. The price surged to an intraday high of $2.30 on Wednesday but lost momentum after reaching this level, ultimately dropping to settle at $2.21. Price action has turned bearish during the ongoing session, with XRP down over 3% at $2.14. Dogwifhat (WIF) Price Analysis Dogwifhat (WIF) plunged below the 20-day SMA on Tuesday, dropping almost 10% to $0.389. The price continued to fall on Wednesday and Thursday, dropping 2.81% and 0.74% to settle at $0.375. Despite the overwhelming bearish sentiment, WIF recovered on Friday, rising over 7% to cross the 20-day SMA and settle at $0.401. Price action remained bullish over the weekend as WIF rose almost 4% on Saturday and 2.56% on Sunday to settle at $0.428. Source: TradingView WIF started the current week on a bearish note despite rising to an intraday high of $0.459. The price lost momentum after reaching this level and settled at $0.422, ultimately registering a drop of 1.31%. Bullish sentiment intensified on Tuesday as the price surged 18%, crossing the 50-day SMA and settling at $0.500. Buyers retained control on Wednesday as WIF rose to an intraday high of $0.584 before settling at $0.538, registering an increase of almost 8%. The current session sees WIF down nearly 4% and trading at $0.517. Sellers will look to retain control and drive the price below $0.50. Celestia (TIA) Price Analysis Celestia (TIA) registered a sharp decline on Wednesday, falling almost 7% to $2.27. However, sentiment changed on Thursday as the price rose 3% and settled at $2.34. TIA continued to push higher on Friday, increasing nearly 2% and settling at $2.38. Price action remained bullish over the weekend as TIA rose more than 4% on Saturday and 1.69% on Sunday to end the week at $2.52. Source: TradingView TIA started the current week positively, rising 1.58% to cross the 20-day SMA and settle at $2.56. Bullish sentiment intensified on Tuesday as TIA surged almost 8% to $2.76. However, the rally lost momentum on Wednesday, rising to $2.87 before settling at $2.76. The current session sees TIA marginally up, trading at $2.78. Buyers will look to build momentum and push towards $3. Toncoin (TON) Price Analysis Toncoin (TON) started the previous week on a bullish note, rising 2.57% on Monday. It fell over 1% on Tuesday despite reaching an intraday high of $3.01, but recovered on Wednesday, rising 1.19% to settle at $2.89. The price continued to push higher on Thursday, rising $2.94. Buyers retained control on Friday as TON rose 1.80% to settle just short of $3 at $2.99. TON lost momentum on Saturday as selling pressure returned, dropping 0.91% to $2.97. Source: TradingView However, it recovered on Sunday, registering an increase of almost 1% to end the weekend on a positive note at $2.99. TON started the current week in the red, dropping over 3% and settling at $2.89 despite reaching an intraday high of $2.89. Buyers returned to the market on Tuesday as TON rebounded, rising almost 7% to reclaim $3, cross the 20-day SMA, and settle at $3.08. Buyers retained control on Wednesday as TON continued to push higher, rising over 3% to $3.18. The current session sees TON down over 2%, trading at $3.11. Sellers will look to retain control and drive the price below $3. 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.

Source: Crypto Daily