Bitcoin Breaks $90K While Equities Slide

DAILY MARKET OVERVIEW

Digital Gold or Just a Decoy?

👋 Hey, Crypto Enthusiasts! Hope you enjoyed the Easter calm because that peace just got wrecked. Let’s dive in!

🌬️ Calm Weekend Turns Into a Crypto Firestorm

Crypto markets slept through Easter weekend, with low volatility and little volume. But Monday hit the gas, and now we’re in full acceleration mode. Bitcoin has smashed through $90K, grabbing headlines and pulling away from traditional risk assets.

🪙 BTC Follows Gold, Not Stocks

The big story? Bitcoin is finally acting like gold.

Equities are sliding, weighed down by economic anxiety and political crosswinds. Normally, Bitcoin would follow the S&P into the red. Not this time. BTC is now moving in sync with gold, which has been on a vertical climb as global uncertainty ramps up.

Is this the long-awaited moment when Bitcoin truly becomes digital gold?

Maybe, but not so fast. In a true crisis, BTC still gets treated like a risk asset. So far, this looks like a macro-driven rotation, not a full transformation.

🟢 Why Bitcoin Is Booming:

• Big Buyers Are Back
  Corporate names like Strategy, GameStop, and Japan’s Metaplanet are stacking BTC on their balance sheets.

• Pro-Crypto Regulator Takes the Helm
  Paul Atkins, known for his crypto-friendly stance, is now officially the SEC Chair. Markets like it.

• ETF Inflows Flip Positive
  After weeks of bleeding, BTC ETFs saw $381M in net inflows on Monday. The tide may be turning.

• Trade Progress Adds Tailwinds
  The US said it has finalized trade deal terms with India, with more countries reportedly lining up.

• Dollar Weakness Boosts the Narrative
  As the dollar softens, BTC’s pitch as a hedge against fiat failure gets stronger.

💤 Altcoins Can’t Keep Up

Bitcoin dominance has surged to 64.5% and shows no sign of slowing. A climb to 70% looks possible if this environment persists.

• Ethereum Struggles
  ETH is under pressure. No ETF inflows. No hype. And now, Galaxy Digital has reportedly dumped over $100M in ETH for SOL, per Lookonchain. Traders are watching closely.

• Sentiment on ETH Is Brutal
  But that might be a contrarian signal. With so much hate priced in, we could be near a short-term bottom.

🤔 The Hidden Macro Risk: Student Debt Storm

One wildcard on the radar is student debt.

Back in 2020, federal student loan payments were paused under the CARES Act. Four years later, they’ve resumed, and starting May 5, the government will begin collecting on defaulted loans again for the first time since the pandemic.

With interest rates high and credit tight, this could choke consumer spending and put even more pressure on US markets. If defaults spike, it might even threaten the US credit rating. One more reason this summer could be a minefield.

📉 Bottom Line: Bitcoin is flying, but sentiment is cautious. Altcoins are still suffering, macro is dicey, and traders don’t fully trust the rally.

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SOCIAL SENTIMENT

Bitcoin Breaks $90K, but Confidence Lags Behind

While the charts scream bullish, traders on X are keeping their feet on the ground. BTC has smashed $90K, but is it sustainable?

Here’s what some top analysts are saying:

• CJ900X Called It Early
  Analyst CJ900X predicted this move back on April 16. His take? A push to $91K, followed by a potential distribution phase and then a dip back toward $74K. Traders are watching for signs of rejection or continuation.
  

• CointraderNick Eyes ATH
  A veteran voice, CointraderNick believes that if BTC flips $90K into weekly support, an all-time high is back on the table. He’s also doubled down on the thesis that Bitcoin is about to outperform gold in a big way.

Altcoin Rotation Talk

Even with BTC pumping, alts aren’t catching a lot of bids. But some are seeing an opportunity.

If Bitcoin holds $90K and cools off just a bit, that could open the door for rotation plays into beaten-down alts. Right now, ETH and other majors look cheap, but only if BTC stabilizes.

🧠 Sentiment Summary:

• Traders are bullish, but hesitant

• Alts are weak, but possibly close to a bottom

• If BTC holds $90K, the rotation season might finally arrive

For now, trade carefully. The price action is hot, but trust in it is still cold.

NEWS OVERVIEW

The Latest Crypto Headlines 📰 

ECB fears Trump’s crypto push could destabilize EU financial system
The ECB warns of “contagion” risk from dollar-backed stablecoins, clashing with EU regulators over Trump’s crypto-friendly policies.

Galaxy Digital dumps $106M ETH for SOL amid falling Ethereum dominance
Ethereum’s market share dips below 7% as Galaxy shifts major holdings into Solana, reflecting broader concerns over ETH performance.

Crypto advocate Paul Atkins sworn in as new SEC chair
Atkins replaces Gary Gensler, vowing to make crypto regulation a top priority with a friendlier, more transparent approach.

Bank of Korea to help shape stablecoin rules in next crypto law
South Korea’s central bank warns stablecoins could disrupt monetary policy and commits to guiding new regulatory frameworks.

YOUTUBE INFLUENCER SUMMARY

Summary From The Top Influencers 📷️ 

🔥 Ivan on Tech – "Bitcoin: MOMENTUM BUILDING!!!!!!!" (22.04.2025)

📈 April Momentum: Is Bitcoin About to Snap to $100K?

Ivan is ultra-bullish in today’s update, saying we’re in the middle of a major breakout. Bitcoin has broken through stubborn resistance and now sits just under the key $90K mark, with Ivan calling for a “snap to $100K” potentially within days.

✅ Technical Strength Confirmed

• BTC has bounced hard off the 50-week moving average, a critical support level in past bull cycles.

• Downtrend resistance has been smashed.

• A clean break above $90K would set the stage for a very rapid move to six figures.

🌊 Global Liquidity Surge Is Fueling the Run

Ivan draws attention to a crucial macro factor: global M2 (liquidity) is rising sharply, and Bitcoin is following, with a 108-day lag. He cites Colin on Twitter, showing Bitcoin’s price closely tracks the growth in global liquidity.

• Central banks globally are “quietly easing” via a weaker USD.

• Ivan calls this the “purest form of global easing.”

🐰 Arthur Hayes’ “Easter Bunny Bounce” + BBC “Bazooka” Metaphor

• Ivan taps into Arthur Hayes’ view that this current pump is the "Easter Bunny bounce" — the one you don’t want to fade.

• Mentions Hayes’s essay on U.S. Treasury buybacks: another form of stealth liquidity injection.

💣 Altcoin Landscape: ETH Falls Behind

Ivan is clear that Ethereum is lagging. ETH/BTC is falling, and the Ethereum roadmap (e.g., moving to RISC-V architecture) is slow and unclear. He sees ETH as “splitting its own network effect” by leaning on fragmented Layer 2 solutions.

📉 Ivan on Altcoin Risk

• ETH upgrade timeline is 5+ years — too slow for a fast-moving market.

• More institutional attention is shifting toward Solana, with firms like Galaxy Digital swapping $100M ETH for SOL.

• Three public companies (including Appexi) are now deploying “MicroStrategy-style” strategies for Solana.

🏛️ Institutional and Political Tailwinds

• Pro-Bitcoin former SEC commissioner Paul Atkins has been sworn in.

• Lawsuits against crypto founders (like Richard Heart) are being dropped.

• U.S. politicians like Trump are pressuring the Fed to cut rates soon. Ivan sees this as bullish for Bitcoin.

🏦 Crypto Eating Traditional Banking

• Kraken and Coinbase are moving toward full banking charters.

• Ivan sees banks as outdated middlemen with bad UX and slow service.

• Crypto firms are building the financial rails of the future — “crypto will replace the banks, period.”

🕹️ Pixels and GameFi: A Speculation Signal?

• Ivan notes a huge surge in interest around Pixels, a crypto game revamping its reward mechanics.

• Market response: +34% rally, suggesting the risk-on appetite is returning to niche plays.

• “If even gaming coins are pumping, you know the tide is turning.”

🧠 Final Take – Ivan’s Macro and Market View:

• Momentum is building across the board: Bitcoin is strong, liquidity is rising, and institutions are buying.

• If BTC breaks $90K with volume, the move to $100K could happen “before you blink.”

• Ivan is watching Bitcoin dominance climb and believes altcoin dominance won't return until BTC hits a major psychological top.

• ETH is fading. SOL is rising. But Bitcoin is the king, and this rally is just getting started.

🧠 Benjamin Cowen – "Bitcoin Dominance Hits a New Cycle High" (22.04.2025)

📊 Bitcoin Dominance Hits 64.4% — And It's Not Done Yet

Cowen returns with a sharp take: Bitcoin dominance is pushing higher and likely headed to 66% or more, signaling continued weakness for altcoins relative to BTC.

🔍 Why Bitcoin Dominance Is Rising

Cowen outlines two key drivers behind this move:

1. Quantitative Tightening (QT) Isn’t Over Yet

   • As long as QT continues, liquidity stays tight, and riskier assets like altcoins suffer.

   • Cowen reminds viewers that BTC dominance topped in 2019 only after QT ended. We're not there yet.

2. Altcoin Bleed Is Systemic, Not Temporary

   • Most alts are underperforming Bitcoin on both USD and BTC pairs.

   • ETH/BTC just hit a new low.

   • Social interest in alts is weak, and memecoins plus rugs have turned off new retail entrants.

🧮 Technical Outlook on Dominance

• Dominance has respected Fib levels all cycle: currently approaching the 0.786 retracement at ~66%.

• Cowen sees this as the next target — and possibly higher if sentiment remains cautious.

🧪 Altcoin Pain Is Still Likely

Cowen uses his favorite ratio: Total 3 - USDT / BTC (aka how the altcoin market stacks up against Bitcoin).

• It’s in a downward broadening wedge, mimicking 2023–2024 behavior.

• He believes a drop to 32% or even 29% altcoin market share is possible.

• Many alt/BTC pairs are forming lower highs and lower lows, with no bottom in sight yet.

🛑 ETH/BTC Breakdown

• ETH/BTC has dropped below key long-term support.

• Weekly RSI shows it might be near technical oversold levels — but Cowen won’t call a bottom until QT ends.

• He says ETH has likely already given back a lot of ground, but altcoins overall haven’t.

⚖️ Dominance Composite Charts Show the Shift

• Combining BTC, ETH, USDT, and USDC dominance puts the total at ~79%.

• Cowen says this could climb to 82%, the peak seen in prior cycles.

• That would align with a true altcoin bottom, which hasn't arrived yet.

🧭 Historical Context Matters

• 2025 resembles early 2018 through late 2019 — a slow bleed era for altcoins.

• Even small Fed rate cuts haven't been enough — rate policy is still restrictive.

• Cowen believes Altcoin's outperformance needs retail FOMO + easy monetary conditions, neither of which is here yet.

🪙 Should You Hold Alts Now?

Cowen is blunt:

• If you’re holding altcoins expecting a short-term reversal, you’re fighting the trend.

• He suggests holding Bitcoin, cash (USDT/USDC), or metals until there’s a real shift in macro conditions.

🧠 Final Take – Cowen’s Macro and Market View:

• Bitcoin dominance is climbing for a reason: altcoins are bleeding, retail is absent, and liquidity is tight.

• His base case is that dominance hits 66 %+ in the coming weeks.

• Altcoins are likely to keep underperforming until quantitative tightening ends and the market sees a real risk-on shift.

• Don’t expect altseason just because “it’s time.” The chart and the macro still favor BTC.

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