Daily Crypto Signals: Bitcoin Steady Above $79,000 Amid ETF Outflows, Ethereum Gains on Staking Buzz:
The cryptocurrency market presented a mixed bag of signals today, with Bitcoin maintaining its position above the $79,000 mark while experiencing significant ETF outflows, and Ethereum holds above $1,500, garnering attention due to speculation surrounding potential staking approval for its ETFs.
The broader market saw positive regulatory developments, including the SEC dropping its lawsuit against Helium and the confirmation of a new, potentially crypto-friendly SEC Chair. Additionally, major Bitcoin mining companies reported strong Q1 production, and Nasdaq filed for a spot Avalanche ETF, indicating continued institutional interest in digital assets.
Crypto Market Developments
With new SEC leadership seeming to be relieving regulatory barriers, the crypto market is seeing notable changes. In a significant turn of events, the SEC has dropped its case against Helium Network with prejudice, therefore rendering the blockchain developer unable to be punished with identical transgressions once again for releasing their native coin HNT. Helium’s official statement says the dismissal proves “selling hardware and distributing tokens for network growth does not automatically make them securities in the eyes of the SEC.”
Paul Atkins, a pro-crypto former Wall Street consultant, has been confirmed as the new SEC Chair in a 52-44 Senate vote, therefore indicating this regulatory turn-about. Previously an SEC commissioner between 2002 and 2008 and co-chaired the crypto advocacy group Token Alliance, Atkins has said that “to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach” will be a major goal. This is a big change from the more hostile attitude former chair Gary Gensler took against the crypto market.
Institutional involvement in cryptocurrencies keeps increasing meanwhile. With total inflows of about $35 billion, Bitcoin ETFs—despite recent outflows of $772 million between March 28 and April 9—have shown significant broad acceptance since their January introduction. By contrast, from their June 2024 launch, Ether ETFs had garnered $2.4 billion of inflows.
Bitcoin Dips Under $80,000
At about $79,500, Bitcoin BTC/USD shows resiliency in face of world economic uncertainty. In Q1 2025 top publicly traded mining companies generated around $800 million worth of Bitcoin; Marathon Digital led with 2,285 BTC (approximately $186 million).
According to market research, Bitcoin is starting a new phase of halving. Since mid-February, long-term holders have reaccumulated riches rather rapidly, raising their holdings by around 363,000 BTC. Whale’s brief attainment of a flawless accumulation score in early April suggests strong buying by big investors.
This trend has always preceded bull markets; when mega-whales last reach a perfect accumulation score in August 2024, Bitcoin traded close to $60,000 before rising to $108,000 two months following. Short-term holders, meantime, show very modest selling activity in spite of market volatility; analysts caution this group may sell rapidly should prices decline even more.
Will the SEC Approve Ethereum Staking ETFs Next?
Following the SEC approving exchanges to sell options contracts for spot Ethereum ETFs, Ethereum ETH/USD trades above $1,500 with strong regulatory momentum. Market attention now is on possible approval for ETF staking, which Bloomberg Intelligence analyst James Seyffart believes might happen as early as May, but maybe stretching until late 2025.
For Ethereum ETFs, staking powers would be a major development since they would allow them to create yield by network participation. Head of digital assets BlackRock Robbie Mitchnick earlier pointed out that Ethereum ETFs are “less perfect” without staking as “staking yield is a meaningful part of how you can generate investment return in this space.”
For both Bitcoin and Ethereum ETFs, asset managers also await SEC permission for in-kind creations and redemptions, so improving their efficiency for institutional investors.
Nasdaq Files to List Spot Avalanche ETFs
Though selling at about $18—down 56% from January’s $41 high—Avalanche has drawn institutional attention with ETF developments. Nasdaq has registered to list the Avalanche ETFs of VanEck and Grayscale, therefore providing indirect access to AVAX without requiring actual token ownership.
Following Bitcoin, Ethereum, and Solana products, VanEck Digital Assets will sponsor its trust with third-party token custody, so marking the fourth standalone crypto ETF from the company. The offering from Grayscale would translate an August 2024 closed-end AVAX fund launched already.
Cosmos Launches Eureka, IBC Protocol Upgrade
Cosmos has released Eureka, an improvement to their inter-blockchain communication system allowing native Ethereum compatibility. Eureka provides native cross-chain capability for creating apps that flow naturally across ecosystems, unlike conventional bridges that just transport assets between blockchains.
Early adopters include Bitcoin staking system Babylon and DeFi protocol Elys; future integration envisaged for decentralized exchange dYdX and real-world asset platform Mantra. Over more than 115 blockchains, the IBC protocol has enabled up to $3 billion in daily transaction volume since its inception.
The Eureka upgrade places Cosmos as a central center in a blockchain environment growingly linked, hence enhancing its value proposition in face of competing interoperability initiatives.
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