Cryptocurrency
Bitcoin Surges to 6-Week High at $89K as Dominance Hits 4-Year Peak
Bitcoin has continued its upward march this week, tapping a six-week high of $88,900 during Tuesday morning trading in Asia.
It is the highest the asset has been since March 7, according to CoinGecko, and represents a gain of 18% since its 2025 low of $75,000 earlier this month.
As reported by CryptoPotato, Bitcoin appears to have re-correlated with gold, which hit an all-time high just below $3,500 per ounce this week as investors flock to safe-haven assets.
All the people with gold and bitcoin in their portfolio today while stonks and bonds were down. pic.twitter.com/U64tKPOPcK
— Lyn Alden (@LynAldenContact) April 21, 2025
Stonks Sinking
Bitcoin continues to show signs of decoupling from the broader financial market, which is “massively bullish,” said Satoshi Action Fund founder Dennis Porter.
US stock markets have started the week in the red with daily losses of around 2.5% on the three major indexes, the S&P 500, Nasdaq, and Dow Jones.
President Donald Trump and Federal Reserve chair Jerome Powell continued to face off, with the central banker being labelled a “major loser” by Trump for failing to reduce interest rates.
The S&P 500 has now erased $2.5 trillion since the April 9 high after the 90-day tariff “pause,” observed the Kobeissi Letter.
On April 20, China warned that countries that cooperate with the US in ways that compromise their interests will be retaliated against.
On April 21, Japan’s Prime Minister said his country won’t keep conceding in US tariff talks. “If Japan concedes everything, we won’t be able to secure our national interest,” Shigeri Ishiba said.
“The US is trying to commit economic suicide, and everyone is dumping US assets in response,” opined economist Alex Krüger.
Where are the trade deals?
The S&P 500 has now erased -$2.5 TRILLION since the April 9th high after the 90-day tariff “pause.”
While markets await trade deals, Japan just said they “won’t just keep conceding” in US tariff talks.
Here’s what’s happening.
(a thread) pic.twitter.com/gFSoMzrbrA
— The Kobeissi Letter (@KobeissiLetter) April 21, 2025
Gold and Bitcoin are now aligning for the first time in months, observed the Kobeissi Letter. Since April 7, the yellow metal is up over 15% while BTC has gained more than 18%.
“Markets are pricing in US dollar weakness and more instability,” it said before adding, “Bonds are no longer a preferred safe haven.”
Bitcoin Dominance Peaks
Bitcoin dominance has also reached its highest point for four years, hitting 64.6% on April 22, according to TradingView. This is the highest it has been since February 2021, as altcoins failed to move and Ethereum continues to weaken.
More than $350 billion has entered crypto markets since the April 7 dip, but the majority of that has gone into Bitcoin.
Most of the altcoins are down on the day, with Ethereum tanking back below $1,600, XRP falling back towards $2, Binance Coin dipping below $600, and Solana weakening to $135.
Altseason is still a very long way away.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Crypto analyst Egrag Crypto has made a bold prediction that the XRP price can hit a $1.5 trillion market cap. He revealed how the altcoin can achieve this milestone by alluding to technical indicators, which show the measured move from this current market cap to a $1.5 trillion market cap.
How The XRP Price Can Reach $1.5 Trillion Market Cap
In an X post, Egrag Crypto stated that the Logarithmic move could send the XRP price to around $1.5 trillion market cap, exceeding the Fib 1.618 by approximately $500 billion. Meanwhile, the Non-Logarithmic move will put the altcoin at around $270 billion, aligning with the Fib 1.618.
Related Reading
The crypto analyst remarked that he sees two potential growth levels by measuring the previous cycle, the move from Fib 1.0 to Fib 1.618. Based on this, he predicts a 242% increase and a 600% increase. He then highlighted the four possible targets from the lowest to the highest. The first is the projected XRP price rally to a $270 billion market cap in line with the non-logarithmic measured move.
The second target is a 242% XRP price rally to a $450 billion market cap, backing the previous cycle’s move from Fib 1.0 to Fib 1.618. The third target is another 242% rally to a $978 billion market cap. Meanwhile, the rally to a $1.5 trillion market cap is the last target, with the Non-Log W pattern measured move for maximum potential.
Egrag Crypto highlighted what the XRP price could be based on its current circulating supply of 58.68 billion if it reaches these market cap targets. The altcoin’s price will be $4.60, $7.66, and $16.65 if it reaches the $270 billion, $450 billion, and $978 billion market caps, respectively. Meanwhile, XRP will hit $25.56 if it reaches the $1.5 trillion market cap milestone.
Another Analysis To Support This Price Projection
In another X post, Egrag Crypto predicted that the XRP price can reach between $13 and $22 based on his analysis of the altcoin’s yearly chart. He stated that candle 13 will be the breakout candle, which will lead to the rally to $13 or $22, with the wick potentially extending even higher.
Related Reading
He noted that by analyzing Candle 9, the 2021 yearly candle, and its full body move of an 800% gain, applying this increase to Candle 13 points to an XRP price target of around $17. He added that this aligns perfectly between Line 1 at $13 and Line 2 at $22. It is worth mentioning that Egrag Crypto has also predicted that the altcoin could rally to $27 in 60 days, aligning with the $1.5 trillion market cap projection.
At the time of writing, the XRP price is trading at around $2.28, down in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
Wall Street investment bank Cantor Fitzgerald Asset Management said it plans to launch a new fund that blends bitcoin
gains with a fallback anchored to gold.
The Cantor Fitzgerald Gold Protected Bitcoin Fund, which the firm said will be its first BTC-focused investment vehicle, is structured to provide investors uncapped exposure to bitcoin’s price rise while offering one-to-one downside protection based on the price of gold, according to the firm’s Thursday press release.
The fund is expected to open for investors in the next few weeks, and will run for five years, the firm said.
“There are still people on the Earth that are still scared of bitcoin, and we want to bring them into this ecosystem,” Brandon Lutnick, chairman of Cantor Fitzgerald, said on stage at the Bitcoin 2025 conference in Las Vegas. “I think it’s going to be one of the great products of the Earth.”
The move shows the investment giant is venturing deeper into bitcoin-related products as digital assets are becoming increasingly part of traditional markets. Earlier this week, Cantor said it opened its bitcoin lending business with first financing provided to crypto lender Maple and digital asset prime brokerage FalconX.
Read more: Wall Street Giant Cantor Debuts Bitcoin Lending Business With First Tranches to FalconX, Maple
Bitcoin Magazine
Ark Labs Launches Arkade, a New Native Operating System Using Bitcoin
Ark Labs has officially launched Arkade, a Bitcoin-native execution layer designed to unlock programmable financial applications using Bitcoin as it exists today. The announcement comes after a $2.5 million pre-seed funding round in August 2024, led by Tim Draper with support from Fulgur Ventures and Axiom.
Arkade aims to create a new way to build directly on Bitcoin, letting developers build fast and scalable apps—without needing sidechains, wrapped tokens, or any changes to the core Bitcoin protocol.
“Bitcoin is the world’s hardest, most secure asset, but it remains largely static,” said Marco Argentieri, CEO of Ark Labs. “Arkade virtualizes Bitcoin’s transaction layer, transforming it into a dynamic financial platform where operations happen instantly, programmability is unlocked, and users maintain full control of their assets throughout.”
Arkade is currently being tested on the Bitcoin network with early partners like Tether, Boltz, Breez, and Mempool.space already on board. Arkade maintains Bitcoin’s core security model and avoids alternatives like wrapped tokens or new consensus mechanisms.
Tim Draper, founder and managing partner of Draper Associates, noted: “Bitcoin is fast emerging as the world’s premier digital asset. Arkade’s virtualization approach finally brings the programmability Bitcoin needs to transform from a store of value into a permissionless financial system.”
Ark Labs says demand has been strong since January, with multiple projects requesting integration. The company plans to expand Arkade’s toolkit in the coming months, with support for BTC-collateralized lending, staking primitives, and multi-asset transactions. The launch is scheduled for Q3 2025.
“Bitcoin has always had to balance the desire to scale transaction throughput and complexity with conservatism regarding upgrades,” said Allen Farrington, General Partner at Axiom. “With this exceptionally high bar for worthwhile innovation, and amidst a sea of noise, Ark Labs is bringing to market what may prove to be the most important technical breakthrough in the space since the Lightning Network.”
You can watch the full keynote below.
This post Ark Labs Launches Arkade, a New Native Operating System Using Bitcoin first appeared on Bitcoin Magazine and is written by Jenna Montgomery.
-
Gym & Fitness4 weeks ago9 Exercises To Grow Arms at Home | Increase Arm Strength Without Equipment
-
Gym & Fitness6 days ago
Good Morning America Full Broadcast — Monday, May 19, 2025
-
Entertainment1 month ago
Kim Zolciak & Kroy Biermann, Timeline of Their Relationship Drama
-
Gym & Fitness4 weeks ago
The Worst Mistake for a Flat Stomach
-
Gym & Fitness2 weeks ago
15-minute arm workout with dumbbells for biceps and triceps
-
Entertainment2 weeks ago
The Weeknd And Jenna Ortega Star In A Dull Film
-
Gym & Fitness2 weeks ago
BECOME TALLER & GET SLIMMER /11 MIN FULL BODY EXERCISES ROUTINES TO GROW TALLER AT HOME_ Shrilyn
-
Entertainment1 month ago
Kody Brown Kinda Regrets Telling Ex-Wives He Never Loved Them
