Daily Crypto Signals: Bitcoin Holds Strong Above $84,000 Amid Market Volatility, Mantra Token Recovers After 90% Flash Crash
Over the weekend, Bitcoin reclaimed the $86,000 mark in a significant comeback while Mantra token experienced a catastrophic 90% price collapse in what some traders are calling the most significant project failure since the LUNA crisis, signaling continued volatility in the cryptocurrency markets.
Crypto Market Updates
This week the crypto market was quite erratic; although the Mantra token fell catastrophically, Bitcoin showed amazing endurance in view of macroeconomic worries. These contrasting developments draw attention to the ongoing volatility in the digital asset market since Bitcoin shows indications of maturity as a store of value against economic uncertainty.
After U.S. President Donald Trump decided to remove some important goods from continuous trade tariffs against China, market mood changed noticeably. Starting with a plunge to five-month lows, this policy change helped set off a weekend rally that drove Bitcoin to an eleven-day high of $86,000, reflecting a 7% weekly gain.
Analysts remain cautious about the strength of this rebound; trader Peter characterizes it as “more corrective than impulsive.” Rekt Capital observed, meantime, that Bitcoin has closed above its daily downtrend line; nonetheless, consistent upward momentum depends on successful retests.
In other noteworthy crypto news, an NFT trader who admitted guilt to underreporting about $13 million in profits from trading CryptoPunks faces up to six years in jail. Underreporting income by a total $13.1 million and lowering his tax owed by about $3.2 million, 45-year Waylon Wilcox pled guilty to submitting fraudulent income tax returns for 2021 and 2022.
Bitcoin Holds Above $84,000
The way Bitcoin BTC/USD performs in the middle of current market volatility supports its developing story as a store-of-value asset. Trading about $84,400 at the time of writing, BTC has exhibited significant consistency in recent economic uncertainties compared to both conventional markets and altcoins.
Led by co-founder Michael Saylor, Strategy has indicated its plan to buy additional Bitcoin after a temporary stop in purchasing. With unrealized gains of about $8.6 billion, the company’s most recent acquisition of 22,048 Bitcoin on March 31 boosted its total holdings to 528,185 BTC.
With Bitcoin breaking above its resistance line and finding strong support above $79,000, where roughly 40,000 Bitcoin were accumulated according to Glassnode, the technical indicators of the cryptocurrency indicate encouraging signals of recovery. Though confirmation is still required, author of Bollinger Bands John Bollinger proposed that Bitcoin is creating a “classic Bollinger Band W bottom.”
Bitcoin’s relative steadiness among a $5 trillion sell-off in the stock market gives credibility to its use case as a store-of-value asset rather than a simply risk-on investment. Blockstream CEO Adam Back projected inflation to rise to 10–15% over the next ten years, which would make Bitcoin more appealing as a store of wealth vying with gold.
Mantra (OM) Experiences Flash Crash, Down Nearly 90%
On April 13, the Mantra token collapsed catastrophically, falling by over 90% from about $6.3 to below $0.50, therefore wiping out most of its nearly $6 billion market capitalization. Investors are quite concerned about the sharp price decline; some even classify it as maybe the largest “rug pull” since the LUNA/FTX disaster.
The Mantra team claims that “reckless liquidations” under current investigation started the price slide. The teams said in an April 13 post on X, “one thing we want to be clear on: this was not our team. As soon as we can, we will provide more specifics regarding what transpired; we are now investigating this.”
Assuring the community that the Telegram channel of the project stays online and that the team’s tokens are still under control, Mantra co-founder JP Mullin responded to the collapse. “We are here and not going anywhere,” Mullin added, mentioning team OM token verification addresses.
Early 2025 has already seen a number of high-profile token collapses and cybersecurity events like the Libra memecoin meltdown and the $1.4 billion Bybit hack, both accounting for billions in investor losses.
Given Mantra’s recent well-publicized Middle Eastern projects, the sharp drop is especially alarming. In January 2025, Mantra and investment conglomerate DAMAC signed a $1 billion deal to tokenize various assets on the Mantra blockchain. In February 2025, the project also acquired a virtual asset service provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), therefore enabling it to function as a digital asset service provider in the United Arab Emirates.
Top Altcoins to Watch Today
Several altcoins are showing promising technical patterns that may benefit from Bitcoin’s strength:
- Hyperliquid (HYPE) – Trading above its 50-day SMA at $15.14, HYPE has reached resistance at $17.35. If buyers prevail, the token could rally to $21 and potentially $25. The 20-day EMA has started to turn up, and the RSI indicator suggests buyers have the edge.
- Ondo (ONDO) – Having broken out of its downtrend line, ONDO is facing selling near $0.96 but could find support at its 20-day EMA ($0.83). A successful break above resistance could propel the token toward $1.20.
- Render (RNDR) – Approaching the overhead resistance of $4.22, RNDR shows bullish potential with moving averages on the verge of a positive crossover. If the price rises above $4.22, it could complete a double-bottom pattern with a target of $5.94.
- Kaspa (KAS) – Having risen above its 50-day SMA ($0.07), KAS shows reduced selling pressure with potential for further upside. A break above $0.08 would complete a double-bottom pattern with a target of $0.12.
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