The past 24 hours have been extremely favorable for the cryptocurrency market. Positive sentiment has returned, cash inflows are heavily outpacing outflows, and Bitcoin briefly retested close to $84,000 before facing rejection. It currently sits around $83,400, but the momentum is strong, and whale buying activity across major tokens has significantly increased.
Big News Driving the Market
- New York Introduces a Bill to Accept Crypto for Payments
In a landmark move, New York has introduced a bill allowing the state government to accept cryptocurrencies as payment. This monumental step towards adoption happened shortly after President Trump took office again and could mark a major shift in how states interact with crypto assets. - US Economy on the Edge
BlackRock’s CEO has warned that the United States might already be in a recession. Meanwhile, top Federal Reserve officials have reassured markets that they are ready to step in and stabilize if needed. If interest rates drop, expect riskier assets like crypto to benefit tremendously. - Grayscale Expands Altcoin Trusts
Grayscale has updated its trust list to include 40 altcoins as of April 2025, with Dogecoin making the cut. Dogecoin’s inclusion has fueled bullish expectations, with analysts predicting a potential 364% rally based on RSI breakout patterns.
Dogecoin Update: A Breakout Incoming?
Dogecoin has recently returned to a crucial resistance zone around 17 cents. After the early-April selloff where it dipped near 13 cents, Dogecoin entered a consolidation phase. Now, momentum is building once again.
Breaking above 17 cents could trigger a major upside move for Dogecoin, outperforming many other altcoins. Whale activity supports this: over 80 million Dogecoin were bought in the last 24 hours alone, and Dogecoin’s open interest has climbed by 5%, though it’s still shy of the critical $1 billion mark needed for a truly healthy rally.
Bitcoin’s Battle at $84K
Looking at Bitcoin, open interest is up by 5–7%, but futures volume is down about 10% — a somewhat unusual combination signaling cautious optimism among top traders. The long-to-short ratio is sitting around 50/50, which explains why $84,000 has become such a tough resistance zone.
For Bitcoin to fully flip into a bullish mode and target $91,000, whales will likely need to push the price convincingly above $84,000. If successful, this could mark the beginning of a three-month bull run, particularly as trade tensions between the US and China heat up.
Global Trade Tensions: A Catalyst for Crypto?
The ongoing tariff war between the US and China could significantly impact the crypto markets. Trump’s 90-day tariff pause aims to give other countries breathing room, but the instability in global currencies — with both the US Dollar and Chinese Yuan showing weakness — could lead more investors to seek refuge in crypto assets.
In addition, over 453,000 Ethereum have been withdrawn from exchanges in the past five days, indicating strong accumulation, which usually precedes major price surges.
Bitcoin Adoption Expanding
- Scotland School Accepts Bitcoin for Tuition
In another sign of growing adoption, a school in Scotland has started accepting Bitcoin for tuition payments — a rare move in the education sector, which is typically slow to adopt new technology. - US Crypto Tax Policy Shift
President Trump has reversed some of the Biden-era crypto tax laws, easing regulations to facilitate smoother crypto transactions within the United States. This pro-crypto stance is likely to accelerate adoption and mainstream acceptance.
What’s Next for Bitcoin and Dogecoin?
The next big moves for Bitcoin and Dogecoin will largely depend on whether Bitcoin can successfully break and hold above $84,000 — and eventually $90,000. If Bitcoin manages to clear these hurdles, Dogecoin and other major altcoins are poised for massive gains.
The next few months could be critical: between the tariff war developments, Fed interest rate policy, and whale accumulation, all signs point toward an explosive summer for the crypto market.
Stay tuned — if you’re following Dogecoin, Bitcoin, or the broader crypto market, make sure to stay updated with the latest news. The next few weeks could be pivotal for making major gains!