
Viewpoint: Bitcoin's recent rise is in sync with gold, but market caution remains
Bitcoin broke through the $90,000 mark for the first time since early March, sparking optimistic expectations that it has finally broken away from its long-term correlation with the rise and fall of U.S. technology stocks. On Tuesday, Bitcoin rose 6.77% in total, and continued its rise in early Asian trading on Wednesday to hit $93,883 per coin. The U.S. dollar index rebounded slightly after falling to a three-year low on Monday. Although the Nasdaq 100 index rebounded sharply after the plunge on Monday, it is still far below the highs from late February to early March. It is worth noting that this wave of Bitcoin's rise happened to be in sync with gold. The price of gold hit $3,500 per ounce for the first time on Tuesday, and then fell back. Richard Galvin, co-founder of Sydney crypto hedge fund DACM, said that if Bitcoin continues to trade like gold rather than like a technology stock, the logic of "decoupling" will be more convincing. (Bloomberg)
Ethereum ETFs see biggest daily inflows since February as ETH reclaims $1700
Spot Ethereum ETFs in the U.S. just saw their biggest daily inflows since early February, signaling a potential turnaround after weeks of bearish sentiment.
According to SoSoValue data , the nine U.S.-listed Ethereum ETFs brought in $38.74 million in net inflows on April 22, breaking a 10-day streak of zero or negative flows. That’s their highest daily intake since Feb. 4, when they saw a huge $307.77 million pour in.
This comes after eight straight weeks of outflows that totaled nearly $910 million .
Most of the fresh capital went into Fidelity’s FETH, which pulled in $32.65 million. Bitwise’s ETHW also got a decent $6.09 million.
The other funds didn’t move much, recording no inflows for the day. Overall, since launch, these Ethereum ETFs have attracted a total of around $2.26 billion.
The surge in ETF inflows came right as Ethereum itself started recovering. On Tuesday, ETH spiked over 10%, climbing past the $1,700 mark for the first time since April 6.
The rally seems to be driven by renewed optimism following comments from U.S. Treasury Secretary Scott Bessent, who hinted that tensions with China over tariffs could cool down soon.
Some investors are also starting to hedge against the U.S. dollar, as Trump continues to criticize Fed chair Jerome Powell and pushes to replace him. That uncertainty, paired with Paul Atkins’ confirmation as SEC chair , seems to be giving crypto a boost.
By Wednesday, Ethereum ( ETH ) had briefly touched $1,800, up around 14.2% in just two days. Meanwhile, Bitcoin ( BTC ) broke through the $90,000 resistance, rallying all the way to $93,385 and helping push the overall crypto market back above a $3 trillion valuation.
Bitcoin, which had been moving in sync with stocks earlier this month, now seems to be decoupling from traditional risk assets. As of now, BTC is up 13.6% in April, beating gold’s 6.7% rise. On the flip side, both the S&P 500 and the U.S. dollar index are down about 5% for the month.
Based on these conditions, analysts now think Ethereum could be gearing up for more gains. On April 23, market analyst Ash Crypto posted on X, saying ETH looks “ready to explode,” pointing out similarities with Bitcoin’s setup from late 2024.
Still, some analysts warn it’s not all clear skies yet. According to analysts at crypto.news, ETH needs to break above the $2,000 mark and form a higher high to confirm a full trend reversal. Without that, this bounce could just be another short-term rally in a broader downtrend.
Crypto: The Ethereum Foundation Shifts Gears And Leadership
Ethereum is making a strategic pivot as subtle as it is radical in the crypto universe. As the network prepares to face colossal technical challenges, its Foundation is reshuffling the power dynamics. The goal: to free Vitalik Buterin from operational burdens to propel him toward unexplored horizons. A move that could redefine the very DNA of blockchain, balancing between ambitious excess and calculated pragmatism.
Tomasz K. Stańczak, the new co-executive director of the Ethereum Foundation, unveiled this restructuring in a striking post. “The ambition is there. The crypto community shares it. But now, everything will depend on the focus of the technical teams,” he sums up. Behind these words lies an observation: Buterin, though an untouchable visionary figure, must escape day-to-day crises to devote himself to fundamental research.
Stańczak insists : Buterin’s proposals are neither decrees nor dogmas. “Every Vitalik intervention opens doors, even if these ideas must then be scrutinized by the community,” he clarifies.
Recently, the co-founder of ETH’s experiments with RISC-V virtual machines and zero-knowledge environments have reignited stagnant technical debates. Bold avenues, sometimes considered utopian, but forcing the ecosystem to step out of its comfort zone.
The Foundation now channels its resources towards three burning projects: Layer 1 scaling, support for Layer 2 solutions, and enhancing user experience.
The Pectra updates , Fusaka, and Glamsterdam embody this race against time. “We are even accelerating projects initially planned for 3 to 5 years from now,” Stańczak confides, referring to a compression of deadlines for next-generation execution layers. A frantic pace, but necessary in the face of competition.
Among Buterin’s ideas, one proposal shakes purists: replacing the EVM (Ethereum Virtual Machine) with a RISC-V architecture. A titanic undertaking, promising efficiency gains up to 100%.
For Ryan Lee, chief analyst at Bitget Research:
This vision highlights Ethereum’s desire to push hardware limits. The modular, open-source RISC-V could revolutionize smart contract execution. But the price to pay would be high.
Because the EVM is not just a technical tool: it is the historical foundation of the crypto ecosystem. “Developers, Layer 2 solutions, wallets… Everything is based on this virtual machine. A transition would require near-miraculous coordination,” Lee nuances.
The risk? Network fragmentation if the players do not follow in sync. Nevertheless, the analyst sees a strong signal: “Ethereum positions itself as a laboratory for radical innovation, even at the cost of temporary disruptions.”
Buterin himself admits the project is in its infancy. Yet, its mere mention acts as an electroshock. “It attracts low-level developers and lays the groundwork for high-performance applications,” Lee believes.
The Foundation bets on a delicate balance: encouraging risky research while stabilizing the network core. Justin Drake and Dankrad Feist, two other key researchers, now enjoy similar freedom as Buterin to publish bold concepts—even if these are rejected after debate.
As ETH crypto flirts with $1,577, Ethereum bets its future on two fronts: optimizing the existing while sowing the seeds of a technical revolution. By freeing its thinkers from operational constraints, the Foundation bets on cross-fertilization between pragmatism and utopia. A risky gamble, but necessary to stay ahead in the frantic crypto race. Meanwhile, some altcoins follow Bitcoin’s bullish trend .