Week of April 15-21, 2025

Bo Hines, Director of the Digital Asset Task Force under Donald Trump’s administration, has revealed that the United States is evaluating a strategy to purchase Bitcoin (BTC) for its strategic reserve—without relying on taxpayer funds. The plan involves revaluing gold certificates currently held at just $43 per ounce to reflect current market prices. This surplus could then be used to finance the acquisition of Bitcoin.

Tim Scott, Chairman of the U.S. Senate Banking Committee, stated that crypto regulatory legislation, especially regarding stablecoins, is expected to pass by August 2025, as part of a broader push to position the U.S. as a global crypto leader.

President Donald Trump has also signed a law repealing cryptocurrency tax rules introduced during the final phase of the Biden administration. The repeal includes tax obligations tied to DeFi transactions.

Meanwhile, the U.S. Securities and Exchange Commission (SEC) has postponed its decision on allowing Spot Ethereum ETFs to offer staking services. The decision has been rescheduled for June 1, with a final deadline set for October. Applicants include Grayscale, BlackRock, and 21Shares.

Standard Chartered has forecasted that Ripple (XRP) could see a price increase of over 500% by 2028, fueled by its growing role in cross-border payment systems. The bank believes XRP could eventually surpass Ethereum (ETH) in market capitalization.

The firm also projects the total stablecoin supply will rise from the current $230 billion to $2 trillion by 2028. This surge could drive demand for $1.6 trillion worth of U.S. Treasury bills over the next four years.

In other news, John Mullin, CEO of Mantra, has announced a complete burn of all team-held OM tokens to restore investor confidence. The move comes after OM’s price plunged more than 90%, marking the largest token liquidation since the Terra Luna collapse.

Technical Analysis

Bitcoin (BTC)

Bitcoin (BTC) has broken out of its downtrend line and is forming a new high. A short-term pullback to the $81,500 support zone may complete an Inverse Head and Shoulders pattern. If the price rebounds, the next resistance to watch is $89,000. The key level for downside protection remains $74,000.

• Support: 2,500,000 THB / 74,000 USD
• Resistance: 3,000,000 THB / 89,000 USD

Ethereum (ETH)

Ethereum (ETH) is showing signs of a trend reversal, with price action stabilizing. A good entry zone lies just above $1,400. If ETH breaks the first resistance at $1,700, the next target is $2,000. Sustained movement above that level would signal a bullish shift in trend.

• Support: 48,000 THB / 1,400 USD
• Resistance: 72,000 THB / 2,000 USD

Raydium (RAY)

Raydium (RAY) delivered a 31.22% return last week. The price is currently moving sideways. A break above $2.334 would confirm a bullish reversal. Until then, the suggested strategy is to buy near the $1.400 support. If that level fails, consider cutting losses or waiting for a confirmed breakout.

• Support: 30 THB / 1.400 USD
• Resistance: 80 THB / 2.334 USD

Render (RENDER) 

Render (RENDER) posted a 26.88% return over the past week. It is attempting a bullish reversal. A confirmed breakout above $4.460 would strengthen the trend. If the breakout fails, a price drop to $2.490 could present a secondary entry opportunity, with a stop-loss in place.

• Support: 90 THB / 2.490 USD
• Resistance: 150 THB / 4.460 USD

Investment Trends

The markets remain volatile amid retaliatory tax policy developments from the U.S. under the Trump administration. While policy changes continue to evolve, the 90-day extension granted to most countries (excluding China) suggests that the most disruptive phase may have passed for now.

Although the March Consumer Price Index (CPI) came in lower than expected, markets reacted cautiously due to lingering inflation concerns stemming from new tariff measures. These concerns could limit the Fed’s ability to proceed with interest rate cuts in the short term.

Markets are now looking to the May FOMC meeting for clarity on the direction of monetary policy. Bitcoin’s next bullish leg will likely depend on two key triggers: concrete crypto legislation (such as BTC being added to the strategic reserve), and monetary easing to counter potential economic drag from Trump’s fiscal policies. If either factor materializes, Bitcoin could reenter an upward trend.

Investment Strategy: for now, the strategy remains focused on accumulating Bitcoin and Ethereum over the medium to long term. While Q2 presents promising catalysts, investors should remain cautious of potential Black Swan events related to global responses to U.S. policies.

Portfolio allocation: consider dedicating 20–30% of the portfolio to crypto to hedge against volatility.

แหล่งอ้างอิง

• https://cointelegraph.com/news/us-countless-ways-stack-bitcoin-reserve-bo-hines-says
• https://cointelegraph.com/news/senator-tim-scott-confident-market-structure-bill-passed-august
• https://www.theblock.co/post/350461/trump-signs-repeal-controversial-irs-crypto-rule-under-biden-lawmaker-says
• https://cointelegraph.com/news/sec-delays-decision-permit-staking-grayscale-eth-etfs
• https://www.theblock.co/post/349999/standard-chartered-xrp-price-target-xrp-etf-approval
• https://www.theblock.co/post/350851/standard-chartered-stablecoin-supply-2-trillion-2028
• https://cointelegraph.com/news/mantra-ceo-to-burn-300-million-team-tokens  

Disclaimers

• Cryptocurrencies and digital tokens are highly risky; investors may lose all investment money. It is important to study information carefully and invest based on your own risk profile.
• Past returns or performance of digital assets do not guarantee future returns or performance. 

Remark: The views, information, knowledge, and opinions expressed herein are those of the individuals involved and do not represent the views of Bitazza or its employees. Neither this email nor the content presented constitutes investment advice.