Coin Market

Price analysis 4/14: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LEO

Published

1 week ago

April 14, 2025

Bitcoin (BTC) bulls are trying to start the week on a positive note by pushing the price above $85,000. Michael Saylor’s Strategy has used the recent dip to buy 3,459 Bitcoin for $285.5 million at an average price of $82,618. That boosts the total holding of the firm to 531,644 Bitcoin purchased at an average price of $67,556.

However, not everyone is bullish in the near term. Several institutional investors seem to have trimmed their holdings. CoinShares reported on April 14 that digital asset exchange-traded products (ETPs) witnessed $795 million in outflows last week. The $7.2 billion in outflows since February have reversed nearly all year-to-date inflows, now at just $165 million.

Daily cryptocurrency market performance. Source: Coin360

Although Bitcoin seems to have bottomed out in the short term, a roaring bull market rally is unlikely to start in a hurry. The tariff headlines and the outcome of the tariff talks between the United States and other countries could dictate the price action.

Could Bitcoin build upon the recovery, pulling altcoins higher? Let’s analyze the charts to find out.

S&P 500 Index price analysis

The S&P 500 Index (SPX) witnessed a hugely volatile week, but a positive sign is that lower levels attracted solid buying by the bulls.

SPX daily chart. Source: Cointelegraph/TradingView

After the massive volatility of the past few days, the index could enter a quieter phase. Sellers are likely to sell the rallies near 5,500, while the bulls are expected to buy the dips to the 5,119 support. That signals a possible range-bound action between 5,500 and 5,119 for some time.

The next trending move is expected to begin after buyers push the price above 5,500 or sink below 4,950. If the 5,500 level gets taken out, the index could surge to 5,800.

US Dollar Index price analysis

The US Dollar Index (DXY) has been in a freefall since turning down from the 20-day exponential moving average (102.81) on April 10.

DXY daily chart. Source: Cointelegraph/TradingView

Buyers defended the 99.57 level on a closing basis on April 11, but the bears renewed their selling on April 14. If the price closes below 99.57, the index could tumble to 97.50 and, after that, to 95. The longer the price remains below 99.57, the greater the risk of starting a new downtrend.

If buyers want to prevent a downward move, they will have to swiftly push the price back above 99.57. That could start a recovery to 101.

Bitcoin price analysis

Bitcoin broke above the resistance line on April 12, and the bulls successfully held the retest of the breakout level on April 13.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($82,979) has flattened out, and the RSI is near the midpoint, suggesting that the selling pressure is reducing. The BTC/USDT pair could climb to $89,000, which is likely to act as a stiff resistance. If the price turns down sharply from $89,000 and breaks below the 20-day EMA, it will indicate a range formation. The pair may oscillate between $89,000 and $73,777 for a few days.

If sellers want to trap the aggressive bulls and retain control, they will have to quickly pull the price back below the 20-day EMA. If they do that, the pair may descend to $78,500 and subsequently to the vital support at $73,777.

Ether price analysis

Ether (ETH) is facing selling at the 20-day EMA ($1,722), as seen from the long wick on the April 14 candlestick.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

If the price plummets below $1,546, the ETH/USDT pair could retest the $1,368 support. This is a crucial level for the bulls to defend because a break below $1,368 could start the next leg of the downtrend toward $1,150.

Conversely, if buyers propel the price above the 20-day EMA, it signals that the bears are losing their grip. There is resistance at the 50-day SMA ($1,955), but it is likely to be crossed. The pair may then ascend to the solid resistance at $2,111.

XRP price analysis

XRP (XRP) turned down from the 50-day SMA ($2.24) on April 13, indicating that sellers are active at higher levels.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($2.10) has flattened out, and the RSI is near the midpoint, indicating a balance between supply and demand. A break below $2 will tilt the advantage in favor of the bears. The XRP/USDT pair could drop to $1.72 and later to $1.61.

Buyers will gain the upper hand if they push and maintain the price above the 50-day SMA. If they can pull it off, the pair could rally to the resistance line. Sellers are expected to aggressively defend the resistance line because a break above it signals a potential trend change.

BNB price analysis

BNB (BNB) is facing resistance at the downtrend line, but a minor positive is that the bulls have not ceded much ground to the bears.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

That increases the likelihood of a break above the downtrend line. If that happens, the BNB/USDT pair could ascend to $645. Sellers will try to guard the $645 level, but it is likely to be crossed.

This positive view will be invalidated in the near term if the price turns down sharply from the downtrend line and breaks below $566. That could keep the pair stuck inside the triangle for a while longer.

Solana price analysis

Sellers are trying to defend the 50-day SMA ($130) in Solana (SOL), but the bulls have kept up the pressure.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

If the price closes above the 50-day SMA, the SOL/USDT pair could rise to the $147 to $153 resistance zone. Sellers are expected to vigorously defend this zone, but if the bulls prevail, the pair could surge to $180.

The first support on the downside is the 20-day EMA ($123). A bounce off the 20-day EMA will keep the positive momentum intact, while a break below it could sink the pair to $110 and eventually to $95.

Dogecoin price analysis

Buyers are trying to start a recovery in Dogecoin (DOGE) but are expected to face stiff resistance from the bears at the moving averages.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If the price turns down from the moving averages, the bears will again attempt to sink the DOGE/USDT pair below $0.14. If they manage to do that, the selling could accelerate, and the pair may slump to $0.10.

Contrarily, if buyers propel the price above the moving averages, the pair could rally to $0.20. This is an important near-term level to watch out for because a break above it will complete a double-bottom pattern. The pair could then climb toward the pattern target of $0.26.

Cardano price analysis

Buyers are struggling to push Cardano (ADA) above the 20-day EMA ($0.65), indicating that demand dries up at higher levels.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

If the price turns down from the 20-day EMA, the next support on the downside is $0.58 and then $0.50. Buyers are expected to fiercely defend the $0.50 level because a break below it could sink the ADA/USDT pair to $0.40.

On the upside, buyers will have to drive and maintain the price above the 50-day SMA ($0.71) to signal that the downtrend could be over. That could propel the pair to $0.83 and subsequently to $1.03.

UNUS SED LEO price analysis

Buyers are trying to push UNUS SED LEO (LEO) above the 20-day EMA ($9.39), but the bears are posing a substantial challenge.

LEO/USD daily chart. Source: Cointelegraph/TradingView

The flattening 20-day EMA and the RSI near the midpoint suggest a balance between supply and demand. That could keep the LEO/USD pair stuck between $9.90 and $8.79 for a few days.

The next trending move could begin on a break above $9.90 or below $8.79. If buyers kick the price above $9.90, the pair will complete a bullish ascending triangle pattern. This bullish setup has a target objective of $12.04.

On the downside, a break below $8.70 could signal the start of a deeper correction toward $8.30.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Coin Market

Shaquille O’Neal reaches settlement in FTX lawsuit, terms remain secret

Published

35 minutes ago

April 24, 2025

Shaquille O’Neal has settled with investors who claim losses from the collapse of cryptocurrency exchange FTX, according to an April 23 filing in the US District Court for the Southern District of Florida.

The settlement amount remains confidential, with terms expected to be disclosed after investors formally request preliminary court approval, according to court documents.

O’Neal and other celebrities and athletes were accused of promoting FTX and allegedly contributing to investor losses by endorsing the now-bankrupt exchange.

Source: Court Listener

The case is part of a broader multidistrict litigation effort, where investors are seeking up to $21 billion in damages from FTX insiders, advisers and promoters, far exceeding the $9.2 billion available through bankruptcy proceedings.

Other celebrities embroiled in similar legal troubles for their roles in FTX include NFL quarterback Tom Brady, supermodel Gisele Bündchen, billionaire investor Kevin O’Leary, former NBA player Udonis Haslem, David Ortiz, Naomi Osaka and others.

Notably, FTX investors faced challenges in serving O’Neal with legal papers during the early stages of the lawsuit over his promotion of the collapsed exchange.

Lawyers representing the victims described O’Neal as “running from the lawsuit,” after multiple failed attempts to deliver court documents. Legal teams reportedly spent months trying to reach the NBA legend, resorting to creative methods, including attempting service during NBA games and at his residences.

O’Neal finalizes $11 million settlement over Astrals NFT project

The settlement with FTX investors comes as O’Neal recently agreed to pay $11 million to resolve a class-action lawsuit tied to his involvement in the Solana-based Astrals NFT project.

In May 2023, O’Neal was served with the Astral NFT lawsuit during an NBA game at Miami’s Kaseya Center, formerly the FTX Arena. The class-action lawsuit involved his promotion of the Astrals NFT project, alleging that the NFTs promoted by O’Neal were unregistered securities.

In August 2024, a Miami federal court judge ruled that O’Neal would need to defend some of the claims brought against him in the case.

Astrals is a Solana-based project featuring 10,000 NFTs, a metaverse called Astralworld and a decentralized autonomous organization (DAO) with a governance token called Galaxy.

Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race

Coin Market

Bitcoin exchange outflows mimic 2023 as whales buy retail 'panic'

Published

35 minutes ago

April 24, 2025

Key points:

Bitcoin exchange 100-day average netflows are at their most negative since the start of the current bull market in 2023.

Exchange balances continue to plumb new multiyear lows.

Whales are particularly active buyers this month, while retail shows classic “panic selling.”

Bitcoin (BTC) exchanges are evoking the end of the 2022 crypto bear market as user inflows dry up this year.

Data from onchain analytics platform CryptoQuant reveals exchanges’ average net flows hitting two-year records.

Bitcoin analysis eyes “reaccumulation of assets”

Bitcoin may be trading significantly higher than at the start of 2023, but demand for BTC among exchange users is reminiscent of the start of a bull market.

CryptoQuant reveals that the 100-day simple moving average (SMA) of exchange net flows recently hit its most negative figure in two years.

“This essentially indicates the highest Bitcoin outflow from exchanges since that date,” contributor CryptoOnChain commented in one of its “Quicktake” blog posts on April 23.

“A review of historical patterns suggests that this could imply re-accumulation of assets by investors.”Bitcoin exchange netflow 100-day SMA. Source: CryptoQuant

A negative net flow tally indicates outflows from exchange surpassing inflows, reflecting more user demand than a desire to send BTC to exchange accounts for a potential sale.

As Cointelegraph reported, overall exchange BTC balances are at their lowest in many years.

CryptoQuant shows reserves hitting 2.535 million BTC in early April, down over 7% from 2.740 million BTC at the start of the year.

Bitcoin exchange reserve. Source: CryptoQuant

Whales buy while retail exits

Elsewhere, larger Bitcoin entities have added to their portion of the supply throughout April — even as smaller retail investors sell.

“Whales (1k-10k balance) have been accumulating hard since March, even as price slid,” crypto analyst Miles Deutscher noted on X this week alongside CryptoQuant data.

“Every time prices drop, whales accumulate into retail panic selling.”Bitcoin 1K BTC+ balance data. Source: Miles Deutscher/X

Research firm Santiment drew similar conclusions about entities holding at least 10 BTC, which it referred to as “key stakeholders.”

“Bitcoin’s key stakeholders comprised of wallets holding between 10 & 10K BTC currently hold 67.77% of the entire supply of crypto’s top market cap asset,” an X post reported.

“During the April volatility, these wallets continue to accumulate, and have now added over 53.6K BTC since March 22nd.”Bitcoin 10 BTC+ balance data. Source: Santiment/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Coin Market

Upbit and Bithumb suspend Synthetix token deposits, citing sUSD risks

Published

35 minutes ago

April 24, 2025

South Korean exchanges Upbit and Bithumb have suspended deposits for Synthetix (SNX) tokens after it was flagged by the Digital Asset Exchange Alliance (DAXA) for potential risks.

DAXA, the self-regulatory organization establishing industry standards for South Korean exchanges, designated SNX as a cautionary item.

Assets receiving this designation typically undergo rigorous evaluations to determine whether trading can continue or if delisting is necessary.

Exchanges may take action, such as adding a warning tag to the asset and urging investors to take caution when engaging with it. Trading platforms can also perform additional measures, like blocking deposits or suspending trading support temporarily.

Upbit and Bithumb block SNX deposits

In response to the designation, the biggest exchanges in South Korea said they are blocking deposits for SNX tokens on their platforms.

Upbit announced that it had added a trading caution ticker and suspended token deposits. The exchange said it had been monitoring the developments related to the Synthetix USD (sUSD) depegging. It added that this event may damage investors through potential volatility, as SNX is used as collateral for sUSD.

The exchange added that it had determined a lack of use cases for the asset, which may cause investors to suffer losses. Upbit said it would conduct a comprehensive review to decide whether to delist the asset or resume normal operations for the token.

Bithumb has also blocked deposits for SNX and added a cautionary tag for the token. However, the exchange said this decision could be overturned depending on internal circumstances. If the reason for the designation is resolved, Bithumb said it would lift the restrictions.

Korbit and Coinone also published investor alerts to caution traders. The two exchanges added cautionary tags to SNX tokens to alert investors who may want to trade the token.

Cointelegraph reached out to Synthetix for comment but did not get a response by publication.

sUSD struggles to recover dollar peg

On April 10, the sUSD stablecoin dropped to a five-year low of $0.83 after struggling to maintain its dollar peg in the first quarter of 2025. With the stablecoin being collateralized by the project’s native asset, Cork Protocol co-founder Rob Schmitt compared the token to Terra USD (UST), which collapsed in 2022. However, Schmitt said that sUSD has a “more manageable” debt system.

On April 18, the stablecoin dipped further to $0.68, with SNX falling by 26% in a 30-day period. A Synthetix spokesperson told Cointelegraph that their team has short, medium and long-term plans to mitigate the risks.

On April 21, Synthetix founder Kain Warwick threatened SNX stakers with “the stick” if they didn’t take up a newly launched staking mechanism to fix the sUSD depeg. The executive said they may put extra pressure on stakers if they don’t see enough momentum on the newly implemented mechanism.

Since the warning, sUSD prices increased by 27%. On April 24, the stablecoin briefly reached $0.87. However, the token has still failed to recover its dollar peg.

Magazine: Uni students crypto ‘grooming’ scandal, 67K scammed by fake women: Asia Express