Daily Report 23 Apr 2025
- Wall Street rebounded sharply on Tuesday, recovering from Monday’s sell-off as investors reacted positively to corporate earnings and comments from Treasury Secretary Bessent, who said the US-China trade war was “unsustainable.” The Dow (+2.66%), S&P 500 (+2.51%), and Nasdaq (+2.71%) all surged, with gains led by financials and consumer discretionary stocks. Sentiment was further buoyed after President Trump stated he had “no intention” of firing Fed Chair Jerome Powell, easing fears over central bank independence.
- In crypto, the global crypto market cap increased 7% in the past 24 hours to $2.94tn. The total crypto market 24h volume increased 54% to $134bn. Bitcoin is up 6.4% in the past day, now trading around $93,650. Ether also recovered and is up 13.55% in 24 hours, currently trading around $1,800.
- In the past 24 hours, crypto liquidations increased by 142% and totaled $624.89m, with 89% of them short positions. BTC based positions amounted to 48% of all liquidated positions, with BTC shorts totaling $286.17m in liquidations as Bitcoin's price surged and traders betting against the rally were forced to close their positions.
source: Coinglass
- According to data from SoSoValue, US Bitcoin spot ETFs saw significant inflows on April 22, 2025, totaling approximately $936.4 million—more than doubling the previous day’s figure. Ark 21Shares' Bitcoin ETF ARKB led with $267.1 million, followed by FBTC (+$253.82m), IBIT (+$193.49m), BITB (+$76.71m) and GBTC (+$65.06m). All other ETFs also recorded net inflows, reflecting widespread investor appetite across nearly all major funds. This marks the largest daily net inflow for US BTC spot ETFs since January 17, 2025. US Ether spot ETFs also saw positive flows on April 22, 2025, with total net inflows reaching $38.74 million. Fidelity’s FETH led the activity with $32.65 million in net inflows, followed by Bitwise’s ETHW, which added $6.09 million. The gains mark a reversal from the previous day’s outflows, signaling a rebound in institutional interest in Ethereum exposure.
- On Tuesday, Circle announced the upcoming launch of the Circle Payments Network (CPN), a cross-border payments platform set for limited release in May, which was developed with support from banks like Santander, Deutsche Bank, and Standard Chartered to enable real-time settlement using regulated stablecoins such as USDC and EURC.
- In a post on X on Monday, Aave announced that users can now supply and borrow Ripple’s RLUSD stablecoin on its V3 Ethereum Core market, with a 50m supply cap and 5m borrow cap.
- Cantor Fitzgerald, Tether, and SoftBank are reportedly finalizing a $3 billion investment vehicle that would absorb large-scale Bitcoin holdings. The structure involves Cantor Equity Partners I Inc, a SPAC that raised $200 million in January, partnering with Tether, which will contribute $1.5 billion in BTC, alongside $600 million from Bitfinex and $900 million from SoftBank. The deal mimics the corporate Bitcoin-treasury model popularized by Michael Saylor’s Strategy and reflects Tether’s ongoing expansion into private investments.
- Chiliz, the SportsFi platform behind fan tokens, met with the SEC on April 22 to discuss reentering the US crypto market with a $50–$100 million investment. The firm aims to return by the 2026 FIFA World Cup and has argued its fan tokens should not be classified as securities.
- According to Lookonchain, after BTC price rose, 2 wallets (likely belonging to the same whale) shorted BTC with 6x leverage at $92,469.1 and $92,664.8.
The position size reached $74.5m, with liquidation prices of $107,220 and $107,160 respectively. - Also according to Lookonchain and Arkham Intelligence data, one whale withdrew 5,531 ETH ($9.8m) from Binance, another spent 4.61m USDC to buy 2,568 ETH at $1,794 and a whale who lost ~$40m on $ETH earlier this month after selling at a loss (at $1,471) to repay a massive leveraged position, borrowed 34.75m USDT from Aave to buy 19,973 ETH at $1,740.