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Week of April 29-May 5, 2025
The U.S. Securities and Exchange Commission (SEC) is preparing to review over 70 cryptocurrency-related ETFs, covering large-market-cap coins and meme coins. However, Katalin Tischhauser, Head of Research at Sygnum Bank, noted that combined inflows into Altcoin ETFs may be limited to around USD 1 billion.
Paul Atkins was officially sworn in as the 34th Chairman of the SEC, following a delay caused by a review of his cryptocurrency holdings. Markets expect that his leadership could steer the SEC toward a more supportive stance on digital assets, improving the overall regulatory outlook.
Citi Group stated that blockchain technology may be approaching its “ChatGPT moment”—a major turning point that could drive rapid growth. Their base case projects the global stablecoin market value to rise from USD 240 billion to USD 1.6 trillion by 2030, with an optimistic scenario projecting up to USD 3.7 trillion.
According to Farside, U.S. Spot Bitcoin ETFs recorded net inflows of USD 3.06 billion over the past week, a strong turnaround after previous periods of outflows. On April 25, 2025, alone, Spot Bitcoin ETFs saw inflows of USD 380 million.
BlackRock’s Spot Bitcoin ETF posted inflows of over USD 1.2 billion in the same week, bringing its Bitcoin holdings to more than 582,000 BTC, valued at approximately USD 56 billion. It now holds the largest Bitcoin reserve among all asset management funds globally.
Jay Jacobs, Head of ETFs at BlackRock, commented that rising geopolitical tensions have pushed central banks and institutional investors to diversify from U.S. dollar reserves toward alternative assets such as gold and Bitcoin— a trend that is expected to continue.
Technical Analysis
Bitcoin (BTC)
Bitcoin (BTC) continues its upward momentum, approaching resistance at USD 96,000. A short-term pullback is possible, with buying opportunities near the support zone at USD 88,500. If the trend remains strong, Bitcoin may target USD 98,000, with a retest of the previous all-time high of USD 110,000 possible in May.
- Support: 2,900,000 THB / 88,500 USD
- Resistance: 3,300,000 THB / 98,000 USD
Ethereum (ETH)
Ethereum (ETH) has broken out of its downtrend line and is currently moving sideways. A buying opportunity lies near the support at USD 1,500, while the first resistance level at USD 2,000 remains the key point to watch for a potential bullish reversal.
- Support: 52,000 THB / 1,500 USD
- Resistance: 72,000 THB / 2,000 USD
Official Trump (TRUMP)
Official Trump (TRUMP) posted a return of 80.28% last week, supported by positive sentiment following the announcement that coin holders would have the opportunity to meet the President. A pullback is possible, with the USD 13 support level as a potential entry point. The short-term resistance level is at USD 24.
- Support: 350 THB / 13 USD
- Resistance: 700 THB / 24 USD
Sui (SUI)
Sui (SUI) recorded a 64.24% return last week. The broader trend has turned upward, although short-term corrections are likely. A buying opportunity could emerge near the USD 3.08 support, with resistance at USD 3.95 as the next target.
- Support: 95 THB / 3.08 USD
- Resistance: 150 THB / 3.95 USD
Investment Trends
Bitcoin (BTC) has rebounded, supported by optimism following Paul Atkins’ appointment as SEC Chairman and easing concerns over U.S. retaliatory tax policies. A rotation of capital from gold into Bitcoin ETFs has also provided further support for prices.
Institutional buying is expected to continue driving Bitcoin demand through May 2025, reversing the outflows seen in April. Positive sentiment is being fueled by progress on tax negotiations and expectations of a more accommodative monetary policy at the upcoming Federal Open Market Committee (FOMC) meeting.
Attention this week will focus on the Q1 earnings reports of major U.S. tech companies, which together represent nearly 40% of the S&P 500’s market capitalization. Better-than-expected earnings could provide an additional boost to Bitcoin and risk assets, while disappointing results may weigh on sentiment.
Speculative interest is gradually returning to Altcoins, especially those with strong news catalysts such as Sui (SUI) and Official Trump (TRUMP). The strategy remains focused on large-market-cap coins and coins with ETF potential, with gradual accumulation advised for investors willing to take higher risk. Broader recovery in the Altcoin market may follow if Bitcoin continues its upward trajectory.
References
- https://cointelegraph.com/news/us-crypto-etfs-await-sec-decision-70-bloomberg
- https://cointelegraph.com/news/paul-atkins-sworn-in-sec-chair
- https://www.theblock.co/post/351926/citigroup-predicts-stablecoin-supply-could-hit-3-7-trillion-by-2030
- https://cointelegraph.com/news/us-spot-bitcoin-etfs-consecutive-inflow-week-significant-inflows
- https://www.theblock.co/post/352008/blackrocks-bitcoin-holdings-near-3-of-total-supply-as-inflows-spike
- https://cointelegraph.com/news/china-shift-us-treasuries-gold-bitcoin-blackrock-jay-jacobs
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.
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