Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
- Today's chart: Slight increase in Bitcoin price, supported by a key support level.
Bitcoin is currently trading at around $76,137 USD, maintaining a positive short-term upward trend, as it stays above the 50-day and 100-day exponential moving averages, which are approximately $73,661 and $75,646 respectively. This indicates latent buying demand at lower prices, despite a slowdown in the overall bullish momentum.
Momentum is mixed, with the Relative Strength Index (RSI) approaching 55 on the daily chart, while the Money Flow Index (MFI) is around 54, indicating moderate buying interest. The Moving Average Convergence Divergence (MACD) remains in the negative zone on the same chart, suggesting that bullish momentum is improving but has not yet been confirmed.
Daily chart of the BTC/USDT pair
On the bullish side, the weekly high at $79,486 USD and the 200-day exponential moving average at around $82,299 USD are important resistance levels that buyers need to surpass to regain stronger bullish momentum toward new annual highs. On the downside, initial support is observed at the 100-day exponential moving average near $75,646 USD, with stronger support at the 50-day exponential moving average around $73,661 USD. A daily close below this latter range would expose the broader bullish trend to a clearer correction.
$BTC
Bitcoin (BTC) held steady above the short-term support level at $76,000, after extending its losses from its weekly high of $79,486, following the hawkish tone of the Federal Reserve (Fed) and the uncertainty surrounding peace negotiations between the United States and Iran.
Altcoins, including Ethereum (ETH) and Ripple (XRP), continued to lose momentum, with their prices falling below short-term demand levels. Ethereum’s price hovers above $2,250, down from its weekly peak of $2,404, while Ripple trades at $1.37, down nearly 5% from its weekly high of $1.45.
- Markets Assess the Fed’s Hawkish Tone Amid a Retreat in Risk Appetite:
The Federal Open Market Committee (FOMC) kept interest rates unchanged for the fourth consecutive cycle in the range of 3.50% - 3.75% on Wednesday.
The recent press conference by Federal Reserve Chair Jerome Powell was likely more significant. In his remarks, Powell pointed to risks of rising inflation driven by global energy prices, with West Texas Intermediate crude having surpassed $100 at the time of writing.
The main reason behind higher oil and gas prices lies in the conflict unfolding in the Middle East, and the uncertainty surrounding peace negotiations. Powell emphasized that the committee needs to assess the impact of both energy-related shocks and tariffs before considering easing the current restrictive monetary policy.
In a surprising move, the outgoing chair of the Federal Reserve announced that he would continue serving as governor after the anticipated leadership transition. He confirmed that his decision to remain on the board is intended to ensure the central bank can “conduct monetary policy without taking into account political factors.”
During the press conference on Wednesday, Powell said: “After my presidential term ends on May 15, I will continue to serve as a governor for a period that will be determined later.”
The hawkish stance of the Federal Reserve appears to be weighing on the cryptocurrency market, as evidenced by the Fear and Greed Index staying at 29, near the lower bound of the fear zone, down from last week’s average of 46.
Cryptocurrency Fear and Greed Index | Source: Alternative
Institutional interest in spot Bitcoin exchange-traded funds (ETFs) has cooled this week, with outflows of $263 million on Monday, $90 million on Tuesday, and about $138 million on Wednesday.
Total cumulative inflows now stand at $58.07 billion, with an average net assets under management of $99.27 billion, according to SoSoValue.
Bitcoin ETF Inflows | Source: SoSoValue
Ethereum spot ETF funds saw a third consecutive day of outflows totaling $88 million on Wednesday. SoSoValue data shows that investors withdrew nearly $50 million on Monday and about $22 million on Tuesday. Total inflows were $11.94 billion, while assets under management were $13.10 billion.
Ethereum ETF Inflows | Source: SoSoValue
Meanwhile, XRP spot ETFs recorded modest net cash inflows of $3.59 million on Wednesday, compared with $2.20 million logged on Tuesday. Total inflows now stand at $1.30 billion, with an average net assets under management of $1.04 billion.
XRP ETF Inflows | Source: SoSoValue
$BTC
$ETH
$XRP