SEC discusses deepening US-El Salvador ties amid deportation backlash
Officials with the US Securities and Exchange Commission’s (SEC) crypto task force met with the El Salvador National Commission on Digital Assets (CNAD) to discuss regulation and a proposed cross-border sandbox.In an April 22 memo, the SEC’s crypto task force reported meeting with officials from El Salvador, Perkin Law Firm, and former Goldman Sachs partner Heather Shemilt as part of the commission’s outreach to the industry. The representatives discussed US-El Salvador cross-border collaboration on crypto regulation at a time when the relationship between the two countries was in the national spotlight over immigration and US deportations to an El Salvador prison.According to the meeting notes, El Salvador’s national commission agreed to collaborate with the SEC to establish a sandbox pilot program, capped at $10,000 for each scenario. The program proposed allowing brokers licensed in the US to obtain a digital asset license in El Salvador and issue “non-securities” tokens in collaboration with a local company.Many in the crypto industry see Salvadoran President Nayib Bukele as behind the country’s efforts to adopt cryptocurrency since he announced legislation to recognize Bitcoin (BTC) as legal tender in 2021. Bukele met with US President Donald Trump on April 14, discussing details of a $6 million deal in which the Trump administration has been sending immigrants, whose legal status to be in the US is unclear, to prisons in El Salvador. Some of these deportations violated orders from federal judges.Related: Bitcoin takes back seat as Trump, Bukele focus on trade and immigrationNew SEC chair sworn inIt’s unclear if the Trump administration may intend to deepen ties to El Salvador through additional regulatory partnerships or stepping up deportations in its existing deal. Cointelegraph reached out to SEC Commissioner Hester Peirce, who heads the crypto task force, for comment, but did not receive a response at the time of publication.The meeting report came roughly a day after the SEC announced that Paul Atkins had been sworn in as the commission’s new chair, following Gary Gensler and acting chair Mark Uyeda. During his swearing-in ceremony, Atkins said his top priority would be to “provide a firm regulatory foundation for digital assets.” Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race
Bitcoin holders back in profit as new capital enters the market — Is $100K BTC price next?
Key Takeaways:Bitcoin short-term holders are back in profit, increasing chances for a rally to $100,000.Long-term holders added 363,000 BTC since February, with new buyers injecting capital in April.Bitcoin sell pressure risk exists at $97,000, where 392,000 BTC could be sold. Bitcoin’s (BTC) surge above $91,700 on April 22 pushed its value above the short-term realized price or cost basis. This implies that a majority of short-term holders (STHs) are currently back in profit.STHs returning to profit after unrealized losses signal a bullish outlook, paving the way for a potential $100,000 retest.Bitcoin short-term onchain cost basis bands. Source: GlassnodeHistorically, during the early phase of a rally, STHs in profit provided upward momentum by holding firm and drawing in new investors. Bitcoin’s supply mapping indicated “strong activity” in April from first-time buyers, indicating fresh capital injections in the market at higher prices. Long-term holders (those holding for more than 155 days) increased their allocation by 363,000 BTC since February, while Bitcoin whales and sharks have absorbed 300% of the yearly issuance. Despite this week’s price breakout, Bitcoin researcher Axel Adler Jr. noted that the last strong resistance remains at $96,100. In an X post, the analyst said, “At the $96K level, there will be the final resistance from the cohort holding coins for 3-6 months, after which the next target of $100K opens up.”Bitcoin realized price analysis. Source: X.comRelated: Why is Bitcoin price up today?392,000 Bitcoin at $97K could trigger a sell-offAccording to Bitcoin’s cost basis distribution data, investors hold approximately 392,000 BTC at an average cost basis of $97,000, creating a potential resistance zone. This concentration suggests many investors may sell at break-even, potentially stalling Bitcoin’s upward momentum.Bitcoin cost basis distribution chart. Source: X.comHowever, anonymous trader Ezy Bitcoin emphasized Bitcoin’s price action in the Wyckoff reaccumulation phase is “playing out beautifully”. The chart indicated continued strength, with three price targets: $131,500 (target 1), $144,900 (target 2), and $166,700 (target 3). This Wyckoff pattern points to possible accumulation by large players, signaling an upward trend for Bitcoin, as the market absorbs supply and prepares for an uptrend.Bitcoin Wyckoff pattern analysis by Ezy Bitcoin. Source: X.comRelated: Bitcoin price prepares for ‘70% to 80%’ gain as onchain metrics and spot BTC ETF inflows spikeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bitcoin ETF inflows top 500 times 2025 average in 'significant deviation'
Key points:Bitcoin ETF inflows obliterated the 2025 average on April 22.ETF performance remains tightly dependent on BTC price action, with the turnaround following six-week highs in BTC/USD.ETFs themselves are gaining influence, with one commentator arguing that they can “determine” exchange activity.Bitcoin (BTC) institutional investors piled over eleven times the all-time average into the US spot Bitcoin exchange-traded funds (ETFs) on April 22.Fresh data from onchain analytics firm Glassnode confirms that the $912 million ETF inflows equal more than 500 times the 2025 daily average.Glassnode: 2025 ETF average inflow just 23 BTCBitcoin ETFs immediately felt the impact of BTC price rises this week, with inflows undergoing a “dramatic” turnaround to nearly $1 billion in a single day. BTC/USD hit its highest levels since early March.Glassnode reveals just how unusual such a tally is — in 2025, so far, the average daily inflow has been just 23 BTC ($2.1 million).“This was the largest daily inflow since November 11, 2024, marking a notable resurgence in demand,” researchers explained in an X thread on the topic.US spot Bitcoin ETF flows. Source: GlassnodeThe April 22 total thus stands at more than 500 times the average for a year in which dramatic sentiment shifts have led to periods of major outflows across the ETF cohort.Even in the context of the ETFs’ entire lifespan since their January 2024 launch, the $912 million figure is rare and constitutes around 11.5 times the daily average.“Since inception, the average daily inflow is approximately 1,031 $BTC,” Glassnode added, calling the April 22 total a “significant deviation.”US spot Bitcoin ETF flows. Source: GlassnodeETFs become “marginal buyer” for BTCContinuing, Bloomberg ETF analyst Eric Balchunas was among those optimistic about the ETFs’ change of fortunes.Related: Bitcoin exchange buying is back as ‘Spoofy the Whale’ lifts $90K asks“The spot bitcoin ETFs went Pac-Man mode yesterday,” he told X followers.Balchunas noted that inflows increased across most of the eleven ETFs — a move that contrasts with the common scenario in which the largest product, BlackRock’s iShares Bitcoin Trust (IBIT), takes in the lion’s share of investments.Andre Dragosch, European head of research at asset management firm Bitwise, was equally buoyant.“Great to see very positive net inflows into Bitcoin ETFs again — In fact, they have become ‘the marginal buyer’ in Bitcoin since Jan 2024,” he observed alongside more Glassnode data. “The can actually determine whether you see negative or positive net buying volumes on BTC spot exchanges.”US spot Bitcoin ETF flows (screenshot). Source: Farside InvestorsThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bretton Woods institutions must reorient, US Treasury secretary says
United States Treasury Secretary Scott Bessent recently called for “Bretton Woods institutions,” such as the International Monetary Fund (IMF), to reorient themselves, a signal that the global monetary order could be shifting.Speaking at the Institute of International Finance (IIF) on April 23, Bessent called on the IMF and the World Bank to correct trade imbalances and protect the value of fiat currencies against exchange rate risk.”The Bretton Woods institutions must step back from their sprawling and unfocused agendas,” Bessent said. He added:”The IMF’s mission is to promote international monetary cooperation, facilitate the balanced growth of international trade, encourage economic growth, and discourage harmful policies like competitive exchange rate depreciation.”Bessent’s call for the IMF to correct trade imbalances between countries, specifically the US and China, coincides with a decline in the US dollar to three-year lows, $36 trillion in US government debt, and stiff economic competition from China.The Dollar Currency Index (DXY), a measure of the US dollar’s strength relative to other major fiat currencies, plunges to three-year lows. Source: TradingViewInvestor and hedge fund manager Ray Dalio argues that the world is experiencing a global macroeconomic shift that will upend the post-WWII financial order and eventually replace the US dollar as the global reserve currency, potentially with a digital form of money.Related: Trump tariffs reignite idea that Bitcoin could outlast US dollarThe Bretton Woods AgreementThe Bretton Woods Agreement was signed in 1944 and pegged the currencies of 44 countries to the value of the US dollar, which, at that point, was pegged to the value of gold at $35 per ounce.Eliminating complex foreign exchange risks between freely floating currencies to make global trade more efficient was the primary goal of the agreement.US President Richard Nixon delivers the infamous “Nixon shock” speech in August 1971, suspending the dollar’s convertibility to gold. Source: Richard Nixon Presidential LibraryIn August 1971, US President Richard Nixon announced the end of the dollar’s convertibility to gold — formally ending the Bretton Woods agreement in a move that was supposed to be temporary.“Your dollar will be worth just as much tomorrow as it does today,” Nixon incorrectly told Americans during his now-infamous address.The IMF and the World Bank, which were spawned from the Bretton Woods agreement, continue operating in an attempt to curb the effects of free-floating fiat currencies on the foreign exchange market.Bessent eyes stablecoins to protect the US dollar, BTC advocates have another ideaSpeaking at the White House Digital Asset Summit on March 7, Bessent said stablecoins could drive international demand for US dollars and US government debt instruments.Bessent added that the Trump administration will use stablecoins to protect the US dollar and its status as the global reserve currency.Bitcoin maximalist Max Keiser argued against this plan, predicting that gold-backed stablecoins would outcompete dollar-pegged tokens due to the desire for low-volatility, inflation-resistant money.The US dollar’s purchasing power has declined by over 90% since the year 1900. Source: Visual CapitalistIn March this year, BlackRock CEO Larry Fink wrote that the $36 trillion US national debt could drive investors to Bitcoin (BTC) as market participants start to see BTC as a better store of value than the US dollar.Bitwise executive Jeff Park voiced a similar prediction in February, focused on the effects of US President Donald Trump’s trade tariffs.The analyst wrote that the tumult from the ongoing trade war would cause worldwide inflation, which would cause individuals to seek alternative stores of value like Bitcoin, driving its price much higher in the long term.Magazine: Bitcoin payments are being undermined by centralized stablecoins
Price predictions 4/23: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, AVAX, SUI
Key points:Bitcoin’s rally is backed by solid institutional buying in the spot BTC ETFs.A rally above the $95,000 level could be difficult, but analysts’ end-of-year price projections now extend to $200,000.Select altcoins are showing signs of a price bottom.Bitcoin (BTC) price rallied close to the $95,000 resistance level on April 23 as the cryptocurrency finds support from rising spot BTC ETF inflows and positive macroeconomic news in the United States. According to Farside Investors, the funds recorded net inflows of $381.3 million on April 21 and $912.7 million on April 22.Analysts from Standard Chartered and Intellectia AI said that institutional demand for Bitcoin ETFs and BTC’s use as a hedge against macroeconomic risk could propel the price to $200,000 in 2025.Crypto market data daily view. Source: Coin360Not everyone is convinced about the current rally. 10x Research head of research Markus Thielen questioned the sustainability of the Bitcoin rally in an April 23 markets report, as the stablecoin minting indicator was “yet to return to high-activity levels.”Could Bitcoin break above the $95,000 mark, pulling altcoins higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price predictionBitcoin formed a Doji candlestick pattern on April 23, indicating indecision between the bulls and the bears near the $95,000 overhead resistance.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day exponential moving average ($85,773) has started to turn up, and the relative strength index (RSI) is near the overbought zone, suggesting that the path of least resistance is to the upside. If buyers do not cede much ground to the bears, it enhances the prospects of a rally above $95,000. The BTC/USDT pair may then skyrocket to $100,000 and subsequently to $107,000.This positive view will be invalidated in the near term if the price turns down sharply from $95,000 and plunges below the moving averages. Ether price predictionEther (ETH) turned up sharply on April 22 and rose above the 20-day EMA ($1,676). Buyers will try to retain the advantage by pushing the price above the 50-day SMA ($1,830) on April 23.ETH/USDT daily chart. Source: Cointelegraph/TradingViewIf they succeed, the ETH/USDT pair could jump to the breakdown level of $2,111. Sellers will try to stall the recovery at $2,111, but if the bulls prevail, the pair could soar to $2,550. Such a move suggests that the corrective phase may be over.Conversely, if the price turns down sharply from $2,111, it indicates that the bears are active at higher levels. That could keep the pair range-bound between $2,111 and $1,368 for a while longer.XRP price predictionXRP (XRP) rose above the 50-day SMA ($2.20), but the long wick on the candlestick shows selling at higher levels.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe bears are expected to defend the resistance line with all their might because a break and close above it signals a potential trend change. The XRP/USDT pair could then attempt a rally to $3.On the contrary, if the price turns down and breaks below the moving averages, it signals that bears remain in command. The pair may then retest the $2 support, which is likely to attract buyers.BNB price predictionBNB (BNB) broke out of the downtrend line on April 21, but higher levels are attracting solid selling by the bears.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe BNB/USDT pair could drop to the moving averages, an important near-term support to watch out for. If the price rebounds off the moving averages with strength, the prospects of a rally to $644 and thereafter to $680 increase. Alternatively, a break and close below the moving averages indicates that the breakout above the downtrend line may have been a bull trap. The pair then risks falling to $566.Solana price predictionSolana (SOL) rebounded off the 20-day EMA ($133) on April 22 and is attempting to climb above the overhead resistance at $153 on April 23.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA is sloping up, and the RSI is in the positive territory, indicating an advantage to buyers. A close above $153 clears the path for a rally to $180. Such a move brings the large $110 to $260 range into play.Time is running out for the bears. If they want to make a comeback, they will have to swiftly pull the price below the moving averages. If they do that, the SOL/USDT pair could plunge to the $120 to $110 support zone.Dogecoin price predictionDogecoin (DOGE) broke above the moving averages on April 22, indicating that the bulls are on a comeback.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe price could rally to the overhead resistance at $0.21, where the bears are expected to step in. If the price turns down from $0.21 and breaks below the moving averages, it signals a range-bound action in the near term. The DOGE/USDT pair could swing between $0.21 and $0.14 for some time.Contrarily, a break and close above $0.21 completes a double-bottom pattern. The pair could then rally toward its target objective of $0.28.Cardano price predictionBuyers pushed Cardano (ADA) above the 20-day EMA ($0.64) on April 22 and are trying to sustain the price above the 50-day SMA ($0.68) on April 23.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA is flattish, but the RSI has jumped into positive territory, indicating that the momentum has turned positive. A close above the 50-day SMA opens the gates for a rally to $0.83.Buyers are expected to defend the zone between the 20-day EMA and $0.58 on the downside. Sellers will be back in the driver’s seat if they sink the ADA/USDT pair below $0.58. The pair may then slump to $0.50.Related: Why is Bitcoin price up today?Chainlink price predictionChainlink (LINK) turned up from the 20-day EMA ($13.16) and rose above the 50-day SMA ($13.62) on April 22.LINK/USDT daily chart. Source: Cointelegraph/TradingViewThe LINK/USDT pair could rise to $16, where the bears may mount a strong defense. If buyers do not allow the price to dip back below the 20-day EMA, it improves the prospects of a rally to the resistance line of the descending channel pattern. A trend change will be signaled on a break above the channel.The 20-day EMA is the crucial support to watch out for on the downside. A dive below the 20-day EMA opens the doors for a fall to $11.89 and later to the support line.Avalanche price predictionAvalanche (AVAX) broke out of the downtrend line on April 22, indicating that the bears are losing their grip.AVAX/USDT daily chart. Source: Cointelegraph/TradingViewThe bears will try to halt the recovery at $23.50 because if they fail in their endeavor, the AVAX/USDT pair will complete a double-bottom pattern. This bullish setup has a target objective of $31.73.If the price turns down from $23.50, the bulls will try to buy the dips to the 20-day EMA ($19.72). A bounce off the 20-day EMA increases the likelihood of a break above $23.50. Contrarily, a break below the moving averages signals a range formation between $15.27 and $23.50.Sui price predictionSui (SUI) soared above the moving averages on April 22 and the overhead resistance at $2.86 on April 23.SUI/USDT daily chart. Source: Cointelegraph/TradingViewThe long wick on the candlestick shows selling above $2.86, but if the bulls do not give up much ground, the possibility of a break above the overhead resistance increases. That could propel the SUI/USDT pair to $3.25 and then to $3.50.The 20-day EMA ($2.29) is expected to act as strong support on any pullback. A break and close below the 20-day EMA suggests the bullish momentum has weakened. That could result in a range formation in the near term.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Forget bull or bear — Bitcoin’s in a new era, says onchain analyst James Check
For years, crypto investors have looked to the four-year cycle, anchored around Bitcoin’s halving events, as a kind of sacred roadmap. The theory goes: Every four years, Bitcoin’s supply is cut in half, triggering a bullish frenzy, followed by a euphoric peak, a brutal crash, and then a slow recovery. Rinse, repeat.But what if that model is starting to break? That is what onchain analyst James Check suggests. In an interview with Cointelegraph, Check said that the tidy frameworks that once defined Bitcoin’s market behavior are no longer as useful in today’s macro-driven, institutionally influenced environment.Rather than labeling the current market as “bull” or “bear,” Check paints a more nuanced picture. Bitcoin, he argues, is now driven more by macroeconomic conditions and investor psychology than by predictable cycles or halving dates. As such, the lines between bull and bear get blurry.“The world doesn’t operate on four-year cycles,” he says. “You can imagine a headline tomorrow where suddenly all these tariffs get pulled back […] and markets start to move. I can just as easily construct a case where the next headline could send all risk assets into a pretty nasty decline.”Check also breaks down why the $70K–$75K range is such a critical confidence zone for the Bitcoin market — and how thinking in terms of scenarios rather than predictions is key for an investor’s long-term success.Check out the full interview on Cointelegraph’s YouTube channel, and don’t forget to subscribe!For years, crypto investors have looked to the four-year cycle—anchored around Bitcoin’s halving events—as a kind of sacred roadmap. The theory goes: every four years, Bitcoin’s supply is cut in half, triggering a bullish frenzy, followed by a euphoric peak, a brutal crash, and then a slow recovery. Rinse, repeat.But what if that model is starting to break?That’s exactly what leading on-chain analyst James Check suggests in our latest interview. In his view, the tidy frameworks that once defined Bitcoin’s market behavior are no longer as useful in today’s macro-driven, institutionally influenced environment.Rather than labeling the current market as “bull” or “bear,” James paints a more nuanced picture. Bitcoin, he argues, is now driven more by macroeconomic conditions and investor psychology than by predictable cycles or halving dates. And in that world, the lines between bull and bear get blurry.“The world doesn’t operate on four-year cycles,” he says. “You can imagine a headline tomorrow where suddenly all these tariffs get pulled back […] and markets start to move. I can just as easily construct a case where the next headline could send all risk assets into a pretty nasty decline.”Check also breaks down why the $70K–$75K range is such a critical confidence zone for the Bitcoin market—and how thinking in terms of scenarios rather than predictions is key for an investor’s long-term success.Check out the full interview on our YouTube channel—and don’t forget to subscribe!
Top TRUMP tokenholders revealed? US President to host memecoin dinner
Some of the top holders of Donald Trump’s memecoin could come out of the shadows to appear for a dinner the US President is planning to host on May 22.As of April 23, the official Trump memecoin (TRUMP) website offered the opportunity for the “top 220” holders to meet the president in person in Washington, DC. At the time of publication, the guest list for the event was unclear, but the project stated any tokenholder who applied had to pass a background check, “can not be from a [Know Your Customer] watchlist country,” and could not have any additional guests.The memecoin, which the then-president-elect launched on Jan. 17 before taking office, has been heavily criticized by the crypto industry and lawmakers for potentially allowing foreign officials and interest groups to send money directly to the US President without proper disclosure and oversight. The team behind the project controls 80% of the total supply, while the identities of many of the other top tokenholders are mainly unknown.Top TRUMP memecoin holders as of April 23. Source: TRUMP tokenThe price of the TRUMP memecoin surged roughly 52% from $9.30 to $14.20 shortly after the dinner announcement. After the token launched on Jan. 17, the project’s market capitalization increased to roughly $15 billion before dropping 50% by Jan. 20.This is a developing story, and further information will be added as it becomes available.
Riot Platforms secures $100M ‘Bitcoin-backed’ loan from Coinbase
Riot Platforms has used its massive Bitcoin stockpile as collateral to secure a $100 million credit facility from Coinbase as the cryptocurrency miner eyes continued expansion. The $100 million loan from Coinbase’s credit arm marks Riot’s “first Bitcoin-backed facility,” CEO Jason Les said in an April 23 statement.Les said the credit line will be used to fund general corporate operations and support the company’s “strategic growth initiatives.”Source: Riot PlatformsThe credit line is scheduled to mature in one year’s time, but could be extended for an additional year. The loan carries an annual interest payment of at least 9%, based on the current upper limit of the federal funds rate plus 4.5%. Crucially, the funding amount “will be secured by a portion of [Riot Platforms’] total Bitcoin holdings,” the company said. Riot owns the third-largest corporate Bitcoin (BTC) treasury, with 19,223 BTC on its books as of April, according to industry data. At current prices, its Bitcoin holdings are valued at roughly $1.8 billion.As Cointelegraph reported, Riot acquired $500 million worth of Bitcoin in December. Earlier in the month, the company unveiled plans to raise $500 million through a private bond offering to fund additional BTC purchases. Related: Bitcoin miner Bitfarms secures up to $300M loan from MacquarieRIOT stock ralliesShares of Riot Platforms, which trade on the Nasdaq stock exchange under the ticker symbol RIOT, rose more than 8% on April 23 amid a broad rally for Bitcoin miners and the overall stock market.However, like other Bitcoin mining stocks, RIOT has struggled since the start of the year, weighed down by the global trade war and falling cryptocurrency prices.After its latest rally, RIOT stock has pared its losses for the year to -24.6%. Source: Yahoo FinanceIndustry research has tracked a strong correlation between mining stocks and Bitcoin’s price going back to at least 2020.Currently trading at around $93,000, Bitcoin is down approximately 15% from its peak following US President Donald Trump’s inauguration. Over the same period, RIOT shares have fallen by more than 40%.Despite share price volatility, Riot Platforms is coming off a record year of earnings and revenue, having successfully bolstered its operations after the Bitcoin halving.In 2024, the company generated $376.7 million in sales and $109.4 million in net income. The company will hold its next earnings call on May 1, covering the quarter ending March 31. Related: BTC miners adopted ‘treasury strategy,’ diversified business in 2024: Report