Whale Snow Rabbit · April 16, 2026 Market Morning Report

Market Sentiment

The crypto market continues its retaliatory rebound trend. Bitcoin holds above $75k, surging violently from a low of $60k to $76k, with a nearly 45% rise within the range. The shorts have been severely hit: more than 180k positions were liquidated in 24 hours, totaling $660 million, with short positions accounting for nearly 80%.

Market sentiment has switched from panic to optimism, but the short-term rally has been too sharp—be alert to selling pressure from profit-taking.

BTC Daily Observation

After breaking through the $75k key resistance level, bullish momentum remains strong. On-chain data shows that the share of holdings by long-term holders (LTH) has surpassed 68%, miner selling pressure has noticeably eased, and the chip structure continues to be optimized.

Technically, watch whether the $78k resistance level can be effectively broken. Support is at $72k below.

ETH Daily Observation

The rally has outperformed the broader market, with ETH breaking above the $2,200 level. Active addresses on-chain continue to rise, L2 network TVL is rebounding, and the ETH/BTC ratio hits a new high since January—clear signs of ecosystem recovery are evident.

Be sure to watch whether ETH can break away from the broader market and form an independent trend.

Sector Rotation

Funds are spreading from large-cap assets to small- and mid-cap tokens. The MarketVector small-cap index leads the gains, mid-cap indices are also strengthening, while large-cap indices are relatively weak—showing that market rotation is active.

Mainstream altcoins are rising in sync as well, and previously deeply oversold coins are seeing technical rebounds.

Institutional Movements

U.S. Bitcoin spot ETFs have recorded net inflows for 3 consecutive days. On April 15, net inflows reached $470 million, significantly easing institutional selling pressure.

Goldman Sachs’ initial application for a Bitcoin premium-yield ETF: it plans to use a covered call options strategy, with monthly cash dividends, accelerating the era of active management.

Coinbase has received approval for a national trust bank license, further improving the compliant ecosystem.

Geopolitics

The U.S. Dollar Index has fallen below 98, hitting a six-week low. Expectations for the restart of U.S.-Iran negotiations are heating up. Oil prices have pulled back to around $92, and improving risk appetite is a tailwind for crypto assets.

The Federal Reserve chair nomination hearing is held today—watch for signals and remarks on the direction of monetary policy.

Risk Warning

The current rally is mainly driven by short liquidations and improving macro sentiment. The short-term gains have been too large, so there is a risk of a pullback.

The outcome of the Federal Reserve hearing could trigger major market volatility—strictly control your position sizes.

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