Crypto World
Fed’s Powell Soothes Bonds but Rising Oil Pressures Crypto and Stocks
The U.S. 10-year Treasury yield dropped nine basis points to 4.35% Monday after Fed Chair Jerome Powell told a Harvard University audience that inflation expectations remain “well anchored” – enough to pull rate-hike odds from 25% to 5% in a single session.
What it wasn’t enough to do was stop WTI crude from closing at $104.80, its first settle above $100 since 2022, dragging the Nasdaq down 0.75% and Bitcoin back to $66,500 after briefly threatening a breakout.
The market is being pulled in two directions simultaneously. Powell is telling it rates are fine. Oil is telling it inflation isn’t over. One of those signals will break first, and which one it is determines the next directional leg for crypto.
- Fed Signal: Powell’s Harvard comments sent CME FedWatch rate-hike odds tumbling from 25% to 5% for 2026, with the 2-year yield sliding eight basis points to 3.83%.
- Oil Level: WTI crude rose 5.3% Monday to close near $105 per barrel – the first close above $100 since 2022, sustained by the ongoing US-Iran conflict.
- Crypto Impact: Bitcoin shed early gains and settled around $66,500, roughly flat on the 24-hour, as risk appetite compressed across equities and digital assets.
- Rate Path: The March 18 FOMC held the federal funds rate at 3.5%–3.75% for a second consecutive meeting, with the SEP projecting one quarter-point cut in 2026.
Powell Buys the Bond Market Time – But the Oil Clock Is Still Running
Powell’s Harvard remarks landed precisely where the bond market needed them. The Fed, he said, is looking past near-term oil shocks and anchoring policy to inflation expectations rather than headline energy prints – which is exactly what traders positioning for imminent rate hikes did not want to hear.
The 10-year yield’s nine-basis-point decline and the 2-year’s eight-basis-point drop confirm the message sent clearly.
The mechanism is straightforward: lower rate-hike odds reduce the opportunity cost of holding zero-yielding risk assets, which is structurally supportive for Bitcoin.
When CME FedWatch reprices from 25% to 5% hike probability, that is a material shift in the discount rate applied to speculative assets. Under normal conditions, that move alone would have sent BTC meaningfully higher.
But rising U.S. real yields on 10-year TIPS remain an active headwind. Even with nominal yields falling Monday, the structural argument that Powell is merely deferring a harder decision – not resolving it – kept institutional desks cautious.
As Powell himself acknowledged at Harvard, “We will eventually maybe face the question of what to do here. We’re not really facing it yet because we don’t know what the economic effects will be.” That framing is honest. It is also, in trader terms, a conditional green light with an expiration date attached.
Lon Erickson of Thornburg Investment Management noted the Fed “appears comfortable with current economic conditions, higher oil prices, and geopolitical concerns notwithstanding” – a comfort level that looks reasonable until energy markets force a reassessment.
Discover: The best pre-launch token sales
Oil at $105 Is Hitting Crypto Through Three Compounding Channels
The oil pressure is not a single variable – it operates through three simultaneous transmission channels, and that is what makes the current setup more dangerous than the headline WTI print suggests.
First, inflation re-acceleration. WTI above $100, sustained by the US-Iran conflict blocking normal Middle East supply flows, directly pressures headline CPI.
The Fed’s stated comfort with “anchored expectations” depends on those expectations not moving – and energy at these levels historically tests that anchor. Powell has already acknowledged inflation has lingered above 2% for five years post-pandemic without fully stabilizing. A persistent $100-plus oil regime challenges the assumption that the current rate hold is sufficient.
Second, delayed rate cuts. The FOMC’s March SEP projected one quarter-point cut in 2026. When oil is running a macro shock through the system, that single projected cut starts to look optimistic. Every week WTI holds above $100 extends the timeline for easing, which extends the drag on leveraged long positioning in crypto.
Third, geopolitical risk premium. The Iran conflict is not a clean supply shock with a visible resolution timeline. It is an open-ended variable that keeps institutional desks in defensive positioning. Bitcoin ETF outflows have already signaled that capital is rotating defensively – and sustained geopolitical uncertainty gives institutions no reason to reverse that posture.
That combination – inflation re-acceleration risk, delayed easing, and persistent geopolitical drag – is the one traders are underweighting when they read Powell’s Harvard comments as categorically bullish.
Bull and Bear: What Bitcoin Needs to Resolve This Setup
Right now the whole market is stuck in a tug of war between Powell and oil, and Bitcoin is just reacting to whoever wins that fight.
If Powell leans soft at the late April FOMC meeting and oil cools off, especially if it drops back under $95, that takes pressure off inflation and gives Bitcoin room to breathe, which is where a move back toward $70K starts to make sense, especially if ETF flows pick up again.
But that is not the reality yet. What we have instead is mixed signals everywhere, oil holding elevated levels, the Fed staying vague, and Bitcoin chopping in a wide range between roughly $63K and $68.5K with no real direction.
That $63K level is the one that matters. As long as it holds, this is just consolidation. If it breaks, things can slide fast.
The real trigger now is inflation data and oil. If rising oil starts feeding into inflation again, the Fed gets pushed back into a tighter stance, and that is where risk assets struggle. If oil cools and inflation stays under control, the pressure eases, and Bitcoin gets its shot higher.
So it all comes down to one thing, oil versus the Fed, and until that tension breaks, everything else is just noise.
Explore: Best crypto assets to diversify your portfolio
The post Fed’s Powell Soothes Bonds but Rising Oil Pressures Crypto and Stocks appeared first on Cryptonews.
Key Takeaways
- Mizuho slashed PayPal’s rating from “Outperform” to “Neutral” while reducing the price target to $50 from $60
- X Money, Elon Musk’s upcoming payment solution, poses significant competitive risks to PayPal’s peer-to-peer payment operations
- Fourth-quarter results disappointed — earnings per share of $1.23 versus $1.29 analyst expectations; sales totaled $8.68B against $8.82B forecasts
- Company insiders offloaded 87,608 shares totaling approximately $3.83M during the last three months
- Wall Street’s consensus stands at “Hold” with a mean price objective of $56.61
PayPal is navigating challenging waters as Wall Street analysts adopt a more conservative stance. Mizuho Financial Group recently lowered its assessment of PYPL from “Outperform” to “Neutral,” simultaneously slashing the price objective by $10 — dropping from $60 to $50.
With shares trading near $50, this revised target implies minimal room for appreciation. The rating change signals Mizuho’s reassessment of PayPal’s market standing beyond immediate financial metrics.
The catalyst? Elon Musk’s X Money initiative. Set for an April debut, this payment solution is designed as the financial infrastructure of Musk’s “super app” vision. It merges payment processing, digital wallet functionality, and e-commerce capabilities — all integrated within X’s platform.
This description closely mirrors PayPal and Venmo’s core offerings. Mizuho identified X Money as a significant competitive challenge to PayPal’s peer-to-peer transaction services and branded payment solutions.
X boasts more than 400 million active monthly users. This represents a substantial ready-made customer base for any financial service launch. The platform is reportedly preparing to roll out cashtags for monitoring equities and cryptocurrencies, alongside potential collaboration with Visa.
Additional speculation suggests that X Money might provide yields approaching 6% on account balances — a capability that would position it as a serious alternative to established fintech offerings.
Quarterly Results Fell Short of Expectations
PayPal’s latest financial performance did little to alleviate investor concerns. The company posted fourth-quarter earnings of $1.23 per share, missing the $1.29 Wall Street consensus. Revenue registered at $8.68 billion versus projections of $8.82 billion.
While revenue increased 4% compared to the prior year, such modest expansion fails to inspire confidence as competitive pressures mount across multiple segments.
Market observers project annual EPS of $5.03 for PayPal. Shares currently trade at a price-to-earnings ratio of 9.39, appearing inexpensive — though the valuation discount reflects underlying concerns.
Citi and Wells Fargo both maintain Hold positions on the security, pointing to decelerating growth prospects and eroding market position. Goldman Sachs adopted a more bearish stance, reducing its target to $41 with a “Sell” recommendation issued in February.
Bank of America initiated coverage during March with a “Neutral” outlook and $48 price objective. Across the 45 analysts monitored by MarketBeat, 7 recommend Buy, 32 suggest Hold, and 6 advise Sell.
Institutional Investors and Company Insiders Reduce Holdings
Waterfront Wealth Inc. reduced its PYPL holdings by 45.8% during the fourth quarter, divesting 22,251 shares. The fund’s remaining position of 26,372 shares carried a value near $1.495 million at period close.
Company insiders have also been net sellers. During the previous 90 days, executives and directors disposed of 87,608 shares valued at roughly $3.83 million. Notable transactions include insider Suzan Kereere reducing ownership by 54.83% in February, while CAO Chris Natali cut his stake by 65.95% in March.
Institutional ownership remains substantial at 68.32% of outstanding shares. While certain smaller funds marginally increased positions in the third quarter, larger portfolio adjustments have predominantly involved position reductions.
PayPal’s 52-week trading range extends from $38.46 to $79.50. Shares opened Monday’s session at $50.81, trading above the 50-day moving average of $44.88 yet considerably beneath the 200-day average of $55.76.
The company maintains a quarterly dividend of $0.14, equating to an annual payout of $0.56 and yielding approximately 1.1%.
Key Highlights
- BlackBerry shares climbed approximately 15% following news of enhanced NVIDIA collaboration
- Partnership brings together QNX OS for Safety 8.0 and NVIDIA’s IGX Thor technology
- Target applications include safety-critical edge AI for industrial automation and robotics
- Announcement came weeks after the company exceeded quarterly earnings expectations
- Recent insider activity shows $260K in sales with zero purchases over three months
Shares of BlackBerry (BB) experienced a dramatic rally exceeding 15% on April 20, 2026, driven by news of an enhanced technology alliance with NVIDIA (NVDA).
The collaboration focuses on merging BlackBerry’s QNX OS for Safety 8.0 operating system with NVIDIA’s IGX Thor computing platform alongside the Halos Safety Stack. This integration aims to enable engineers to create and launch mission-critical edge AI applications.
The strategic initiative zeros in on industries demanding absolute dependability — specifically industrial automation and advanced robotics. In these environments, software malfunctions transcend mere technical glitches and become serious liability concerns.
Blackberry’s QNX platform has maintained a steady presence in the safety-certified operating system landscape. This alliance provides the technology with prominent exposure through NVIDIA’s cutting-edge hardware.
Market sentiment was amplified by recent context. BlackBerry had delivered better-than-expected quarterly results in early April, generating renewed investor interest even before this partnership was unveiled.
The dual catalyst — strong financial results combined with a prominent AI-focused announcement — propelled shares significantly higher during Monday trading.
Breaking Down the NVIDIA Integration
The NVIDIA IGX Thor architecture serves edge AI deployments in harsh operational conditions. Combining it with QNX OS for Safety 8.0 delivers engineers a certified, real-time operating foundation for systems requiring stringent safety compliance.
The Halos Safety Stack enhances the package by providing additional functional safety capabilities. This comprehensive toolkit targets developers creating advanced robotics and industrial AI solutions.
BlackBerry has consistently expanded its software and IoT presence. Earlier in 2026, the company secured an agreement with Chinese electric vehicle manufacturer Leap Motor, demonstrating ongoing traction in automotive markets.
Current Stock Positioning
BB traded near $4.86 when the partnership was disclosed. According to GuruFocus analysis, the GF Value stands at $3.58, suggesting the stock trades roughly 35.8% above the platform’s calculated fair value estimate.
The price-to-earnings ratio currently registers at 59.73x, significantly lower than the five-year median of 113.81x — indicating valuation compression from historical peaks, though still elevated in absolute terms.
The company’s GF Score of 71 out of 100 demonstrates respectable financial strength and growth metrics, though a profitability ranking of merely 3 out of 10 highlights persistent challenges converting revenue into sustainable earnings.
Regarding insider transactions, no purchases occurred during the previous three months. Sales by company insiders totaled $260,489 during this timeframe.
Daily trading volume averages approximately 8 million shares. Prior to today’s surge, BB had gained roughly 8.4% year-to-date.
Technical indicators already signaled a buy rating before the session’s rally commenced.
Bitmine Immersion Technologies, the world’s largest public holder of Ether, increased its ETH treasury last week with another large purchase.
The company acquired 101,627 ETH during the week of April 13 to April 19, according to a press release and an accompanying Form 8-K filing with the US Securities and Exchange Commission on Monday.
The purchase marks Bitmine’s largest Ether buy since Dec. 15, 2025, according to chairman Tom Lee. “Bitmine has maintained the increased pace of ETH buys in each of the past four weeks, as our base case ETH is in the final stages of the ‘mini-crypto winter,’” Lee said.
Following the purchase, Bitmine said it held 4,976,485 ETH valued at roughly $11.5 billion at a reference price of $2,301 per token. The company also holds 199 Bitcoin (BTC), a $200 million stake in Beast Industries, a $107 million stake in Eightco Holdings and $1.12 billion in cash. The company’s total crypto and cash holdings are $12.9 billion.
The latest update extends Bitmine’s lead among public company Ether treasuries as crypto balance sheet strategies continue to spread across public markets.
Bitmine is 82% of the way to the “alchemy of 5%”
In holding 4.98 million ETH, Bitmine now owns more than 4% of total Ether circulating supply. The company said its broader goal remains to reach the “alchemy of 5%,” a long-term target it has been working toward through repeated large-scale purchases.
The purchase came after Bitmine recently started trading on the New York Stock Exchange after uplisting from the NYSE American as the company expanded its share buyback program.
Bitmine has also expanded its staking operations through its MAVAN (Made in America Validator Network) platform. The system is designed to support institutional-grade Ethereum staking with an emphasis on performance and security.
The company reported that 3.33 million ETH is currently staked, generating annualized staking revenues of over $200 million.
Related: Ether treasuries need liquid staking edge to beat ETFs, says Lido exec
At Paris Blockchain Week 2026, Lee said the recent crypto slump was a “mini crypto winter,” and predicted that Ether could climb above $60,000 over the next few years.
Crypto World
Bank of Hawai’i (BOH) Q1 2026: Net Income Drops to $57.4M as Net Interest Margin Expands
Executive Summary
- BOH net income decreases to $57.4M while net interest margin gains strength
- BOH shares advance as spread improvement offsets quarterly profit reduction
- BOH demonstrates consistent loan and deposit trends alongside enhanced margin performance
- BOH quarterly profit declines but fundamental balance sheet indicators remain robust
- BOH registers reduced earnings while preserving superior credit metrics and capital adequacy
Bank of Hawai’i Corporation unveiled a contrasting picture in its first quarter 2026 financial performance, with net income retreating while fundamental banking indicators displayed resilience. Shares climbed to $81.52, gaining 1.79%, as investors responded positively to intraday price action and consistent upward trajectory. The quarterly report emphasized net interest margin expansion, deposit stability, and disciplined credit management even as bottom-line figures softened.
Profitability Softens as Spread Performance Strengthens
Bank of Hawai’i Corporation disclosed diluted earnings per share of $1.30 during the opening quarter of 2026. The institution generated net income totaling $57.4 million, representing a sequential quarterly reduction of 5.7%. Return on average common equity contracted to 13.90% from the preceding quarter’s 15.03%.
Net interest income expanded to $151.0 million, posting a 3.9% sequential increase. This advancement stemmed from reduced funding costs following monetary policy adjustments. The net interest margin strengthened to 2.74%, climbing 13 basis points and demonstrating enhanced profitability on the core balance sheet.
Average yields on earning assets experienced modest compression to 4.03%, while loan portfolio yields retreated to 4.75%. These declines originated from repricing dynamics on variable-rate instruments responding to the evolving rate environment. Nonetheless, reinvestment activities in fixed-rate instruments provided offsetting yield support.
Asset Portfolio Consistency and Operating Cost Dynamics
Total assets registered $23.9 billion as of quarter-end March 2026, reflecting a modest 1.1% sequential contraction. The reduction primarily originated from diminished cash position holdings. Securities classified as available-for-sale alongside total loan exposures posted incremental growth throughout the reporting period.
Aggregate loans and leases climbed to $14.2 billion, bolstered by expansion in commercial real estate portfolios. Business lending advanced 2.0%, while retail loan segments experienced slight attrition attributable to scheduled principal payments. Total deposit liabilities contracted 1.1% to $21.0 billion, although non-interest-bearing deposits held steady near the 27% threshold.
Noninterest income retreated to $41.3 million reflecting subdued origination volumes and fee generation. Concurrently, noninterest expenses elevated to $116.1 million, propelled by compensation-related outlays and infrastructure investments. Adjusted calculations revealed moderate expense trajectory growth, underscoring disciplined cost oversight despite typical quarterly patterns.
Superior Asset Quality Metrics and Capitalization Framework
Credit quality indicators maintained exceptional performance as non-performing assets contracted to $12.1 million. This figure constituted merely 0.09% of aggregate loans and leases outstanding. Credit loss provisioning similarly declined to $1.8 million, signaling contained portfolio stress.
Net charge-off activity totaled $1.1 million, demonstrating enhanced collection outcomes relative to the prior reporting period. The allowance for credit losses measured $147.0 million, sustaining a steady coverage ratio of 1.04%. These measurements validated ongoing prudent underwriting and portfolio monitoring practices.
Capital adequacy ratios persisted at elevated levels surpassing regulatory thresholds. The Tier 1 capital ratio stood at 14.40%, while the leverage ratio strengthened to 8.62%. The company executed $15.1 million in share repurchases and announced a $0.70 per share quarterly dividend, underscoring its commitment to shareholder capital distribution.
Bitcoin (BTC) erased losses after Monday’s Wall Street open as markets largely shrugged off the return of the US-Iran war.
Key points:
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Bitcoin joins stocks in a muted reaction to the latest US-Iran deterioration and closure of the Strait of Hormuz.
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BTC price manages to top 2.5% daily upside despite the lack of resolution.
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Analysis warns that Bitcoin market strength is begin driven by Strategy and speculators.
Markets avoid volatility as BTC price stays green
Data from TradingView showed 2.5% daily gains for BTC/USD, which had closed the week below $74,000.
US stocks saw modest downside as the week began, but the losses remained modest, while oil began retracing an initial move toward $90.
The repositioning came a day after US President Donald Trump announced a fresh round of negotiations over Iran in Pakistan.
“My Representatives are going to Islamabad, Pakistan — They will be there tomorrow evening, for Negotiations,” he wrote in a post on Truth Social on Sunday.
Trump appeared to dismiss the significance of Iran closing the Strait of Hormuz, calling its announcement “strange.”
Responding, crypto trading company QCP Capital suggested that markets had already readjusted expectations of the war’s outcome and timeline for it.
“Despite the pullback in spot alongside renewed tensions, volatility has stayed notably subdued, hovering near year-to-date lows,” it wrote in its latest “Market Color” update.
“This disconnect between realised risk and implied pricing suggests investors are recalibrating expectations toward a more episodic pattern of escalation: on-and-off disruptions around the Strait, paired with cycles of rhetoric and de-escalation. In effect, markets are beginning to price duration rather than intensity, pointing to a conflict that may be more protracted than initially assumed, but still contained within current bounds.”
QCP added that even with the US-Iran ceasefire due to officially expire within days, that event was unlikely to be definitive.
“The base case, for now, remains one of range-bound volatility, rather than a decisive breakout across major asset classes,” it concluded.
Strategy, speculators under the microscope
Analyzing short-term BTC price moves, J. A. Maartunn, a contributor to onchain analytics platform CryptoQuant, had some bad news for bulls.
Related: BTC price due new highs: Five things to know in Bitcoin this week
Bitcoin’s recent local highs, he suggested, were simply a result of buying pressure from Strategy and speculative traders, with sellers stepping in to take profit, halting the rally.
“Where does that leave price? Not far,” he summarized in an X thread.
Maartunn said that BTC/USD remained stuck below “key resistance,” including the cost basis of short-term holders (STHs) near $83,000.
“Long-Term Holders keep accumulating, and Strategy isn’t done yet,” he acknowledged.
“The key question: is it enough to push Bitcoin higher? For now, this still looks like a bear market rally… But a strong breakout could quickly shift the trend.”
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
Key Takeaways
- EBF shares plummet 9% to $19.63 following quarterly report
- 4% revenue increase overshadowed by margin compression concerns
- Earnings per share stability insufficient to boost investor confidence
- Declining margins and sluggish demand outweigh profit improvements
- Robust financial position fails to prevent sharp stock decline
Shares of Ennis, Inc. (EBF) experienced a significant downturn following the company’s release of quarterly and annual financial data that demonstrated consistent profitability alongside moderate revenue expansion. Trading at $19.63, the stock fell 9.41% and remained near its lowest levels of the session following a pronounced selloff. Investor sentiment appeared influenced by deteriorating margin performance and lackluster organic growth despite the company’s ability to maintain earnings stability.
Latest Quarter Reveals Revenue Growth Amid Margin Deterioration
The company disclosed quarterly sales totaling $96.4 million, representing a 4.0% year-over-year advancement. Nonetheless, gross profitability margin experienced a modest contraction to 29.2% from 29.5% in the comparable prior-year period. Net earnings totaled $8.8 million, with diluted earnings per share holding firm at $0.35.
On a sequential basis, performance indicators revealed additional strain, with gross margin deteriorating from 31.9% in the immediately preceding quarter. EBITDA similarly decreased to $16.3 million, accounting for 17.0% of total sales. These figures compared unfavorably to $16.5 million and 17.8% of sales recorded in the year-ago quarter.
Acquisition activity generated $8.8 million in quarterly revenue, providing partial mitigation against softer organic sales volumes. Diminished customer demand for traditional printing solutions continued to create headwinds for overall business performance. The financial data suggested operational consistency but revealed an absence of robust expansion catalysts.
Annual Results Demonstrate Margin Expansion Despite Revenue Contraction
Across the complete fiscal period, Ennis recorded total revenue of $392.4 million, reflecting a marginal 0.6% decline versus the preceding year. Notwithstanding this top-line softness, gross profit climbed to $120.4 million, with margins expanding to 30.7% from 29.7%. Net income advanced to $42.6 million, while diluted earnings per share increased to $1.66.
Strategic acquisitions bolstered bottom-line performance, adding $0.14 per share across the full fiscal year. The company demonstrated disciplined operational execution, enabling margin improvement despite stagnant revenue dynamics. Consequently, profitability metrics strengthened even as sales volume remained essentially flat.
Full-year EBITDA amounted to $75.7 million, constituting 19.3% of total sales. This represented meaningful improvement compared to the prior year’s 18.3%. These metrics underscored ongoing operational rigor and successful expense management initiatives throughout the fiscal period.
Financial Position Remains Solid as Strategic Initiatives Progress
Ennis sustained a formidable financial foundation characterized by zero debt obligations and expanding cash holdings. The organization also executed share buybacks totaling approximately 793,000 shares for $14.5 million throughout the year. These measures demonstrated management’s commitment to strategic capital deployment and enhancing shareholder value.
Inventory levels were reduced from $60.8 million to $54.9 million during the reporting quarter. This action followed previous initiatives to address supply chain vulnerabilities stemming from a domestic manufacturing facility closure. The company successfully identified alternative supply partners to ensure uninterrupted operational continuity.
Integration of Northeastern Envelope Company into corporate systems reached completion. This consolidation enhanced expense oversight and pricing strategy execution throughout business operations. Nevertheless, persistent erosion in printed product demand coupled with margin pressures continued to weigh on market perception.
An Ethereum whale has opened a significant long position on Ether (ETH) worth $90.8 million, in what looks like a bold bet that the upside is not over for the top altcoin.
Key takeaways:
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Ethereum whale opened a leveraged long position totaling $90.8 million.
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Ether price chart’s ascending triangle targets $3,230.
Top traders open new ETH long positions
Data from TradingView showed the ETH/USD pair trading at $2,280, or 32% higher than the $1,750 low reached on Feb. 6.
Holding above $2,200, Ether offered some cause for optimism ahead of key volatility triggers.
“Strong retail sales could push yields higher and delay Fed cuts, while weak data would fuel risk-on bets,” analyst AlphaBTC said in a Monday post on X, referring to the main macro drivers this week, adding:
“Fed commentary and PMI data add growth signals, while geopolitical risks remain the wildcard catalyst for sudden volatility.”
As market participants waited for the next catalysts, attention has shifted to a trader with an impressive track record, who has opened a long position worth about $90.8 million in ETH, with 20x leverage.
Analyst TAnotepad noted that another whale, 0x6C851, has opened a $61 million ETH long position at 20x leverage with entry around $2,303 on HyperLiquid.
These moves coincide with continued flows into spot Ethereum ETFs, which have recorded net inflows for seven consecutive days, totaling $426 million.
Meanwhile, global Ethereum investment products recorded $328 million in inflows during the week ending April 17.
This reinforces the narrative that whales and institutions view the recent ETH price rebound above $2,400 as a promising move that could open the way toward $3,000.
Ether’s ascending triangle targets $3,200 ETH price
Ether’s price action has formed a classic ascending triangle on the daily chart, as shown below.
The pattern will resolve once the ETH/USD pair breaks above the triangle’s resistance line at $2,400. If this happens, the price could rise by as much as the maximum distance between the triangle’s trend lines.
That puts Ether’s breakout target at about $3,230, up by more than 41% from current price levels.
The relative strength index has increased to 54, from oversold conditions at 18 on Feb. 6, suggesting increasing upward momentum.
However, the breakout could be curtailed by resistance from the $2,350-$2,500 resistance zone, marked by the 50-day exponential moving average (EMA).
Above that, the next major hurdle is the 200-day EMA at $2,640.
Zooming out, analyst Micro2Macr0 said that a breakout from a multi-year ascending triangle could lead to a 60%-%100% ETH price rally.
As Cointelegraph reported, ETH price closing above $2,400 resistance, puts it on the path for a recovery toward $2,800, then to $3,050 over the next few days or weeks.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
Crypto heads into the new week with its Friday rally on shakier ground.
The announced reopening of the Strait of Hormuz sent oil lower and pushed risk assets higher, including bitcoin and the wider crypto market. The opening reversed on Saturday, with Iran firing at ships attempting to pass and the U.S. seizing an Iranian-flagged tanker on Sunday.
With the ceasefire set to expire by mid-week, traders will be watching whether the risk-on rotation can survive a renewed energy shock.
The technical level to watch is clear. Luke Nolan, senior ETH research associate at CoinShares, told CoinDesk the follow-through hinges on bitcoin holding its ETF cost basis near $74,000.
“With Hormuz reopening, oil is off and equities have caught a bid back to ATHs, pulling crypto higher with it,” Nolan said. “Follow-through now hinges on BTC decisively holding above its ETF cost basis (~$74k), which would confirm the risk-on rotation already visible in flows. ETF flows have turned positive the last three sessions, and a pickup in that pace would be supportive of the move higher.”
A decisive hold above $74,000 into the ceasefire deadline, paired with a fourth straight session of positive ETF inflows, would validate the rotation thesis. A break below would bring volatility back into the sector.
What to Watch
(All times ET)
- Crypto
- April 30: Comment period on the CFTC’s Advanced Notice of Proposed Rulemaking on prediction markets closes.
- Macro
- April 20, 7:30 a.m.: Canada Consumer Price Index YoY for March (Prev. 1.8%); Core Rate (Prev. 2.3%)
- April 21, 1:30 p.m.: Fed Gov. Christopher J. Waller speech on”Modernizing Reserve Bank Operations” at Brookings Institution, Washington, D.C.
- April 22, 1:00 a.m.: UK Consumer Price Inflation YoY for March (Prev. 3.0%); Core rate (Prev. 3.2%)
- April 22, 7:30 p.m.: Japan S&P Global Services PMI Flash for April (Prev. 53); Manufacturing PMI (Prev. 51.6)
- April 23, 7:30 a.m.: Canada Producer Price Index YoY for MArch (Prev. 5.4%); MoM (Prev. 0.4%)
- April 23,7:30 a.m.: U.S. Initial Jobless Claims for week ending April 18 (Prev. 207K)
- April 23, 8:45 a.m.: U.S. S&P Global Flash U.S. Manufacturing PMI for April (Prev. 52.3); Services PMI (Prev. 49.8)
- April 23, 3:30 p.m.: U.S. Fed Balance Sheet for period ending April 22 (Prev. $6.71T)
- April 23, 6:30 p.m.: Japan Consumer Price Index YoY for March (Prev. 1.3%); Core CPI (Prev. 1.6%)
- April 24, 3:00 a.m.: Germany Ifo Business Climate for April (Prev. 86.4)
- April 24, 9 a.m.: U.S. Michigan Consumer Sentiment Final for April est. 47.6 (Prev. 53.3)
- Earnings (Estimates based on FactSet data where available)
- April 22: Tesla (TSLA), pre-market, $0.3
- April 22: CME Group (CME), pre-market, $3.29
- April 23: Nasdaq (NDAQ), pre-market, $0.93
Token Events
- Governance Votes & Calls
- SafeDAO is voting to allocate 5 million SAFE tokens to fund a six-month staking rewards program and interface development for Safenet Beta. Voting ends April 20.
- Unlock DAO is voting on a payment plan to compensate members for their contributions to the collaboration platform throughout March and April. Voting ends April 20.
- RootstockCollective DAO is voting on a 20,000 USDRIF grant to fund a security audit for TYKORA Prize Vaults, a no-loss savings protocol. Voting ends April 20.
- ENS DAO is voting to update its DNSSEC implementation by repointing algorithm 7 to a previously patched contract, adding proper padding validation to correct an omission from a prior security update. Voting ends April 21.
- Decentraland DAO is voting to overhaul its transparency infrastructure by establishing named ownership for all record-keeping systems, publishing strict maintenance standards, and creating a single accessible portal for the community to locate data. Voting ends April 22.
- Telcoin Platform Council DAO is voting to allocate 50 million TEL to hire a strategic telecom advisor to drive GSMA adoption. Voting ends April 22.
- Aavegotchi DAO is voting to appoint nine multi-sig signers for 2026-2027, maintain a 5-of-9 security threshold, set their quarterly compensation at $1,000 in GHST and establish a succession plan. Voting ends April 22.
- Lightchain AI DAO is voting to explore adding an optional Moonpay fiat on-ramp to its AI chat, focusing on feasibility and risks without committing any funds or approving implementation yet. Voting ends April 23.
- Gitcoin DAO is voting to claw back remaining unclaimed fees from the discontinued public goods network (PGN). Voting ends April 24.
- Parallel DAO is voting to begin sunsetting its V2 EUR stablecoin by halting most new issuance and imposing a punitive 50% borrow rate to encourage users to repay their existing debt. Voting ends April 24.
- Unlocks
- April 20: LayerZero (ZRO) to unlock 5.35% of its circulating supply worth $48.33 million.
- April 22: Undeads Games (UDS) to unlock 13.47% of its circulating supply worth $37.09 million.
- April 23: Toncoin (TON) to unlock 1.47% of its circulating supply worth $49.75 million.
- April 25: Humanity Protocol (H) to unlock 4.02% of its circulating supply worth around $11.88 million.
- April 25: Avalanche (AVAX) to unlock 0.39% of its circulating supply worth $15.6 million.
- April 26: Plasma (XPL) to unlock 3.73% of its circulating supply worth $10.10 million.
- Token Launches
Conferences
Crypto exchanges Binance, Gate.io, and Bitget have all reportedly opened investigations into the $6 billion collapse of RaveDAO’s RAVE token this weekend.
The live music themed token saw its daily trading volume exceed $300 million in the run-up to its all-time high on Saturday, a market capitalization of $6.7 billion and a price of $27.
This was short-lived, however, as the token plummeted by -97% in the days that followed.
Before RAVE’s collapse, on-chain investigator ZachXBT warned of “Pump and dump activity” from RAVE insiders trading the token on Binance, Bitget, and Gate.io.
He accused RaveDAO of manipulating the token’s price by controlling over 90% of the token’s supply, which was allocated to three wallets connected to RaveDAO’s team.
Read more: Vercel breach leaves DeFi frontends dangling on a $2M ransom
Zach also posted a bounty, which he later increased to $25,000, for any whistleblowers to come forward and share evidence about the parties involved. Today, OXK CEO Star Xu also said he would contribute an extra $25,000 on top of Zach’s original bounty.
Binance co-CEO Richard Teng, Bitget CEO Gracy Chen, and Gate.io CBO Kevin Lee all announced that they would investigate the token following Zach’s warnings.
However, Zach wasn’t impressed by the response time, and noted, “Exchanges need faster intervention on manipulation.”
He added, “While it’s good the exchanges responded, I find it unlikely this activity wasn’t spotted internally before I raised it publicly.”
The token had already started to spiral by the time the crypto exchange’s announced investigations.
RaveDAO says it has nothing to do with RAVE’s collapse
RaveDAO is a music venue project that gave participants NFTs at its hosted gigs while donating a portion of the proceeds to charities.
On Saturday, after the token collapsed, RaveDAO claimed its team “is not engaged in, nor responsible for, recent price action.”
It added that it plans to liquidate some unlocked tokens “based on TRS” so it can “fund operations, global hiring, marketing, strategic acquisitions and philanthropic efforts.”
Solana user @FabianoSolana claims there are three major faces behind RaveDAO, co-founders Yemu Xu, Felix Xu, and core contributor Ronald Elliot Yung.
Zach failed to elicit a response from Yemu Xu on X days before the collapse. Felix Xu’s X posts are currently private, and neither Yemu Xu nor Yung has posted since February 2026.
Read more: Crypto trader shorted the top, still lost 3,963%
Yemu Xu is the co-founder of the ARPA network and Bella Protocol, and is also an ambassador for the environmental magazine Ocean Geographic. Felix Xu also co-founded ARPA network and Bella Protocol, and the pair have featured in Forbes’ 30 under 30 Asia listing.
Yung claims to have studied at Harvard University and works for Penrose Tech, which was also co-founded by both Xu’s. Yung spoke to CoinDesk in 2025 about RaveDAO’s goals.
Ironically, he said, “The winners will be platforms that treat culture as a living ecosystem, not a quick flip, and that balance on-chain innovation with the off-chain work of building trust.”
Don’t short RAVE and don’t buy $M, ZachXBT warns
Zach already warned users to avoid shorting the RAVE token due to its manipulated supply. Some traders attempted to short the RAVE token at its peak, but still lost profits tallying -3,963%.
Now Zach has moved on to another shady token created by MemeCore. $M reportedly had a market capitalization of $6 billion, while over 90% of its supply was controlled by insiders.
The token was promoted by Grayscale and Zach is again warning users against placing shorts against it.
Zach has since threatened to report MemeCore’s staff to the US Immigration and Customs Enforcement agency after MemeCore’s CEO poked at Zach’s comments.
Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.
An Ethereum whale has taken a sizable bullish stance, opening a leveraged long position worth 90.8 million dollars in ETH, using 20x leverage. A second notable whale appears to have joined the bid, opening a roughly 61 million ETH long at 20x leverage on HyperLiquid, with an entry around $2,303. The moves come as ETH traded near $2,280, roughly 32% above the February low near $1,750, and as inflows into spot ETH products keep accumulating in a backdrop of improving market optimism.
Key takeaways:
- Ethereum-equivalent wagers: one trader opened a leveraged long position totaling $90.8 million in ETH, at 20x leverage.
- Another whale added about $61 million in ETH longs at 20x leverage, with entry around $2,303.
- Price setup near-term: ETH sits above $2,200, with an ascending triangle pattern on the daily chart pointing toward higher targets if resistance at $2,400 is cleared.
- Capital inflows reinforce bulls: seven consecutive days of spot ETH ETF inflows totaling about $426 million, and ETH investment products logging $328 million in inflows for the week ending April 17.
Market context: whales stacking bets as macro cues loom
Across market data, ETH has enjoyed a steady bid in recent sessions, with the ETH/USD pair trading around $2,280 after a strong rally off the February lows. A trader known for track record and risk appetite highlighted that macro forces could swing sentiment in either direction this week. AlphaBTC, posting on X, noted that stronger retail sales could push yields higher and delay anticipated Fed rate cuts, while weak data would likely spur risk-on positioning. The analyst added that Fed commentary and PMI data offer growth signals, but geopolitical developments remain a wildcard that could spark sudden volatility.
In this environment, one high-profile trader has unveiled a substantial long on ETH, signaling a strong nearby conviction about upside potential. The $90.8 million position is notable not only for its size, but for the use of 20x leverage, which magnifies both potential gains and risk should market conditions turn unfavorably. A second whale has also stepped in, with a roughly $61 million ETH long at 20x leverage, entering around the $2,303 area on HyperLiquid, according to trader posts tracked by market observers.
These positions arrive as investors monitor a broader backdrop of rising activity in ETH-related instruments. Spot Ethereum ETFs have seen inflows for seven straight weeks, totaling roughly $426 million over the period observed, a sign that institutional appetite for direct exposure to ether remains resilient even amid the volatility tied to macro headlines. The flow backdrop complements another trend: continuous inflows into global Ethereum investment products, with weekly inflows reported at about $328 million for the week ending April 17, underscoring a persistent preference for ETH among asset allocators.
Technical setup: how the chart shapes a potential breakout
From a purely technical lens, ether’s price action on the daily chart is forming an ascending triangle, a pattern traders watch as a potential continuation signal. The critical threshold to clear is the resistance line near $2,400. If ETH breaks above this level, the pattern’s classical measure suggests a rally equal to the height of the triangle’s base, potentially pushing ETH toward roughly $3,230 in a continuation move. In numerical terms, that would be a gain of a bit more than 41% from current levels.
Other nearby hurdles may shape whether a breakout actually unfolds. The immediate region around $2,350–$2,500 sits under the influence of the 50-day exponential moving average, which has in some periods acted as a ceiling for near-term momentum. If buying pressure pushes ETH beyond that band, the next sizable obstacle sits at the 200-day EMA near $2,640, a level that could determine whether buyers sustain the push into higher territory.
On the momentum side, the relative strength index has moved up from oversold conditions in February to the mid-50s, signaling a better probability of upward movement but not a guarantee of a decisive breakout. Micro2Macr0, analyzing broader chart patterns, has suggested that a sustained breakout from a multi-year ascending triangle could trigger a substantial rally, though the path may be choppy given the proximity to several key resistance zones.
Analyst commentary from Cointelegraph’s coverage of price projections also points to a potential recovery path if ETH clears the $2,400 level. A successful breach could pave the way toward intermediate targets in the $2,800 region, with a further push toward $3,050 over the ensuing sessions or weeks, depending on the pace of buying interest and macro catalysts.
Flows, ETFs, and the institutional backdrop
The ongoing inflow momentum into Ethereum-related products appears to be reinforcing a narrative that large holders expect a continued price recovery from the mid-$2,000s. Spot ETH inflows, which track demand for immediate exposure to ether, have persisted across multiple weeks, signaling that buyers remain engaged even as macro headlines intermittently threaten risk assets.
Beyond spot, the broader ETH investment product segment—ranging from exchange-traded products to other listed vehicles—has also drawn meaningful funds. The week ending April 17 saw ETH-focused products record inflows of about $328 million, a signal that institutions and professional traders are logistics-ready to chase a rising ETH bid in various instruments. This backdrop supports the argument that any near-term sell-off could be met with a quick reaccumulation by professional participants and strategic buyers seeking to front-run a potential breakout scenario.
For market watchers, the combination of outsized whale positions, rising momentum on the technical front, and persistent inflows into ETH-centric products forms a cohesive narrative: the market is positioning for further upside, but the path remains contingent on clearing a few important resistance levels and navigating macro volatility.
What comes next: watching key thresholds and potential catalysts
As ETH eyes higher ground, market participants should focus on the $2,400 barrier and the surrounding order flow. A clean breakout above this level would remove a major roadblock and open the door to the next target near $3,230, with further extension toward $3,050 on the sooner-to-mid-term horizon depending on momentum and liquidity conditions. Conversely, a struggle to push through $2,350–$2,500 could extend consolidation, providing a lower-risk setup for traders looking to re-enter on dips.
Investors should also keep an eye on macro signals that could alter the calculus in the coming weeks. If retail demand and macro data push yields higher and the Fed commments lean toward tighter near-term policy, risk assets could face headwinds. In contrast, softer data or a more accommodative tone could sustain a constructive tilt for ETH alongside other risk-on assets.
In sum, the current landscape suggests that large-scaled bets by whales, coupled with reinforcing flows into ETH vehicles and a rising chart trajectory, could keep ETH in focus as a prominent beta play within the broader crypto market. The next test will be whether ETH can clear the $2,400 resistance decisively and trigger the projected triangle-derived rally, or whether macro dynamics and technical friction at nearby EMAs will cap the move in the near term.
The market will likely respond to fresh price action around the critical levels and to any new liquidity injections or regulatory signals. Traders and investors should stay tuned for rapid shifts in sentiment as weekly inflows and notable on-chain moves continue to shape Ethereum’s short- to medium-term trajectory.
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