Crypto Technical Analysis Report 11th April 2025
Fears of a looming economic nuclear war and rising macroeconomic uncertainty have triggered sharp volatility across global markets, prompting a rapid sell-off in crypto assets. Over the past week alone, Bitcoin has shed 9%, Ethereum (ETH) is down 21%, and XRP has declined by 15%. However, beneath the surface of this price correction lies a more optimistic narrative. According to DeFiLlama, top exchanges like Binance and Bybit saw strong net inflows in March$3.86B and $3.14B, respectivelywhile DEX volumes crossed $11B in 24 hours for the first time since March 11. Bitcoins price action reflects growing resilience to geopolitical shocks, contrasting with its reactions during previous crises. Additionally, stablecoin inflows continue to riseoften a precursor to market recoveryas capital remains on the sidelines in anticipation of clarity and entry opportunities. With potential catalysts such as a Fed rate cut or an easing of global trade tensions on the horizon, investors may soon pivot from defensive plays to more risk-on strategies, setting the stage for the next leg of the bull cycle.
Bitcoin failed to sustain its weekly opening momentum on April 10, despite encouraging U.S. inflation data. Volatility spiked following the release of the March Consumer Price Index (CPI), which indicated easing inflationary pressuresunexpectedly soft, considering the backdrop of escalating global trade tensions. However, broader market sentiment remained cautious. U.S. equities shrugged off the inflation print, and Bitcoin mirrored the risk-off mood. Spot Bitcoin ETFs bore the brunt of the uncertainty, recording $595 million in net outflows between March 28 and April 8, according to data from Farside Investors. Even after the U.S. temporarily lifted most import tariffs on April 9, an additional $127 million exited the ETFs, signaling lingering investor unease. Amid the noise, long-term Bitcoin holders appear unfazed. On-chain data suggests a renewed accumulation phase is underway. Since mid-February, this cohort has added nearly 363,000 BTC, underscoring confidence in the assets long-term trajectoryeven as short-term sentiment remains volatile.
Ethers recent breakdown below the key $1,500 support level has triggered renewed caution, with technical signals pointing to the possibility of a deeper correction before any meaningful recovery can take shape. Adding to the pressure, the U.S. Securities and Exchange Commission (SEC) approved the listing of options contracts tied to spot Ethereum ETFs on April 9, following a similar move for Bitcoin ETFs in September. However, optimism was muted as ETF issuers are still awaiting approval for staking featuresseveral of which were requested earlier this year. Investor sentiment in Ethereum-linked products remains weak. On April 8 alone, spot Ether ETFs recorded over $3.3 million in net outflows. Over the past two weeks, these products have seen cumulative outflows of $94.1 million, sharply outweighing just $13 million in inflows during the same period. Further dampening enthusiasm is the sluggish performance of Ethers derivatives market. Declining open interest and persistently negative funding rates highlight a clear lack of conviction from leveraged tradersraising the possibility that the downtrend may not be over just yet.
Crypto stocks surged on April 9, tracking a broader recovery in U.S. markets after President Trump announced a 90-day pause on global tariffs. His movereducing most tariff rates to 10% while sharply raising them on China to 125%sparked late-session gains across equities. Michael Saylors MicroStrategy jumped 24.76%, Coinbase gained 17%, and major crypto miners like MARA, RIOT, and CIFR saw double-digit rallies. The market optimism spilled over into Asia-Pacific trading hours, with Australias ASX 200 and Japans Nikkei 225 opening significantly higher, indicating positive global risk sentiment driven by U.S. trade policy relief.
Technical Outlook:
BITCOIN:
BTC, after making an all-time high of $109,588, started trading in a Descending Triangle pattern and was finding strong support at $90,000. The asset eventually broke below the support, leading to a nearly 32% correction, making a low of $74,508. BTC has strong support at $73,500, and the lower long shadow around $74,000, accompanied by high volumes, indicates buying at these levels. If prices hold and sustain above this support, we can expect the bulls to resume the uptrend. The $90,000 level will now act as a strong resistance.
ETH:
ETH has been trading in a downtrend for the past four months. Prices have plunged nearly 65% from the high of $4,107, reaching a low of $1,411. The asset has strong support at $1,350. On the daily timeframe, volumes have surged around $1,400. If the price holds and sustains above this support, we can expect a relief rally. However, the major hurdle for the bulls will be the key resistance levels at $1,750 and $2,150.
SOL:
SOL, after making an all-time high of $295.8, witnessed a massive decline. Prices plunged nearly 67.5%, hitting a low of $95.26. The asset has formed a Long-Legged Doji candle at this low, indicating indecision in the trend. SOL has strong resistance at $120. If it breaks and closes above this resistance with strong volumes, we can expect it to rally further and test $150, whereas $95 and $80 will act as strong support levels.
Weekly Snapshot:
Market Updates:
- Jack Dorseys digital payments company, Block Inc., has reached a $40 million settlement with New York regulators over alleged compliance misconduct tied to its Cash App platform.
- North Carolina (NC) Representative Neal Jackson introduced the North Carolina Digital Asset Freedom Act on April 10. The bill proposes that qualifying digital assets be accepted as a legally recognized form of payment, including for taxes.
- The U.S. Senate, on April 9, confirmed President Donald Trumps nominee, Paul Atkins, as chair of the Securities and Exchange Commission in a 52-44 vote, largely along party lines.
- The largest publicly traded Bitcoin mining companies produced nearly $800 million worth of Bitcoin in the first quarter of 2025, reflecting continued growth across the sector as Bitcoin prices held near record highs.
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