Bitcoin, Ethereum, XRP, Dogecoin See Flat Action On 'Dry Thursday'

Author: Khyathi Dalal | April 24, 2025 01:36pm

Cryptocurrency markets are showing muted price action on Thursday.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$93,335.24	-0.9%
Ethereum (CRYPTO: ETH)	$1,765.04	-2.3%
Solana (CRYPTO: SOL)	$151.33	-0.6%
XRP (CRYPTO: XRP)	$2.20	-1.7%
Dogecoin (CRYPTO: DOGE)	$0.1802	-0.6%
Shiba Inu (CRYPTO: SHIB)	$0.00001349	-1.5%

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 31.7% and daily active addresses falling by 9.4%. Transactions greater than $100,000 are up from 11,674 to 11,905 in a single day. Exchanges netflows are down by 447.5%.
• Coinglass data reports 115,542 traders were liquidated in the past 24 hours for $270.43 million.

Notable Developments:

• SEC Zooms In On Nayib Bukele-Led El Salvador’s Crypto Regulation Model
• Solana Staking ETF Surges 18% In Debut Week—Here’s How Much Cathie Wood’s Ark Invest Has Parked In It
• CME Group To Launch XRP Futures In May: How Did XRP Price React?
• Cantor Fitzgerald-Backed ‘Twenty One’ Launches Strategy Rival At $3 Billion Valuation
• Bitcoin’s Bull Case Strengthens As It Trades ‘More Like Gold, Less Like Nasdaq,’ Commentator Says

Top Losers:

Cryptocurrency	Price	Gains +/-
DeXe (CRYPTO: DEXE)	$13.20	-15.9%
Official Trump (CRYPTO: TRUMP)	$11.98	-9.2%
Onyxcoin (CRYPTO: XCN)	$0.02094	-5%

Trader Notes: Macro researcher Axel Adler Jr highlights a sharp decline in Bitcoin addresses sending coins to exchanges.

The 30-day moving average sits at 52,000, well below the 365-day average of 71,000 and far from the 10-year norm of 92,000.

This trend points to a bullish outlook, reflecting a fourfold drop in coin sales since 2022 and increased HODLing behavior, which reduces selling pressure and supports potential upside.

Chart analyst Ali Martinez sees a possible catalyst in the form of a golden cross between the MVRV Ratio and its 365-day SMA, which could ignite a fresh BTC rally.

A golden cross between the MVRV Ratio and its 365-day SMA could be the spark for a new #Bitcoin $BTC bull rally! pic.twitter.com/kPX6gs3gYD

— Ali (@ali_charts) April 24, 2025

Meanwhile, Titan of Crypto notes that BTC price action is tracking closely with Global M2 growth, suggesting a rally is underway.

However, trader Blockchainedbb warns the market remains choppy, with key liquidity above the $94,000 level still untouched.

She suggests a Sign of Strength would involve sweeping this liquidity, rejecting below the $90,000 resistance zone, and forming a bullish pennant before any major breakout.

Until then, BTC is likely to remain range bound. With Thursday volumes historically seeing dry volume, a significant move between $90,000–$95,000 is unlikely until that liquidity is taken.

Read Next: 

• The Bitcoin’s Death Cross Pattern Played Out Again: Here’s What It Means

Image: Shutterstock

Posted In: $BTC $DEXE $DOGE $ETH $SHIB $SOL $TRUMP $XCN $XRP