trend

According to Gate market data, the three major U.S. stock indices showed mixed trends, with the Nasdaq index rising over 1%, the S&P 500 index increasing by 0.4%, while the Dow Jones Industrial Average fell by 0.3%.

Glassnode tweeted that the whales on Hyperliquid have been anticipating a price breakthrough in this range. Over the past two months, their confidence and long positions have continued to increase, indicating a strong bullish sentiment among large perpetual contract traders.

QCP stated that BTC rebounded from an overnight low near $75,000 to around $78,000, but this rise seems more like a correction after a calming of risk sentiment rather than a new phase for the market.The report pointed out that Trump's unilateral extension of the ceasefire with Iran has reduced expectations for short-term escalation of conflict, but the Strait of Hormuz remains largely closed, and Iran's position is still unclear. Meanwhile, oil prices remain around $100 per barrel, creating a coexistence of inflationary pressure and slowing growth. QCP also noted that BTC's open interest has significantly rebounded, and the funding rate remains negative, indicating that shorts are still increasing their positions during the rise; the options market overall is still pricing for volatility rather than a continuation of trends.

According to BBX data, yesterday Cantor Fitzgerald raised the target prices for multiple cryptocurrency concept stocks on the same day, but stock prices remained generally under pressure. The core dynamics are as follows:Cantor Fitzgerald analyst Ramsey El-Assal released a research report on April 21, maintaining an "Overweight" rating for Strategy, Inc. (NASDAQ: $MSTR), Robinhood Markets, Inc. (NASDAQ: $HOOD), and Block, Inc. (NYSE: $XYZ), and raised the target prices to $212 (from $192), $110 (from $95), and $88 (from $78), respectively. El-Assal stated that the market is viewing the Q1 earnings report as "rearview mirror data" and is shifting attention to forward-looking growth drivers such as market predictions and tokenization. Despite the collective increase in target prices, the three stocks closed down approximately 2.78%, 4%, and 2% yesterday, reflecting the dual impact of macro sentiment suppression and geopolitical uncertainty.Circle Internet Group, Inc. (NYSE: $CRCL) closed yesterday (April 21) at about $97, with a decline of approximately 4.6% on the day, corresponding to a market capitalization of about $24 billion; the stock's 52-week low was $49.90 (on February 5), and it has rebounded approximately 95% from that low; Q1 2026 earnings report is expected to be released on May 11, with consensus revenue expectations for Q2 at about $718 million.

According to Jinshi reports, Federal Reserve Chair nominee Waller stated that the inflation trend is improving, but more efforts are still needed.

According to CoinGlass data, Brent crude oil (XBR) has a 24-hour contract trading volume of 16.5 million USD across the network, with a contract open interest of 6.2258 million USD; among them, the Gate platform has a 24-hour contract trading volume of 15 million USD, ranking first in the world; the contract open interest is 2.67 million USD, ranking second in the world. WTI crude oil (XTI) has a 24-hour contract trading volume of 20.6188 million USD across the network, with a contract open interest of 22.8109 million USD.Among them, the Gate platform has a 24-hour contract trading volume of 13.08 million USD, ranking first in the world; the open interest reaches 4.75 million USD, ranking second in the world.In the metals sector, the 24-hour trading volume of XAG contracts across the network reaches 900 million USD, among which the Gate platform's XAUT/USDT contract open interest records 72.3609 million USD, ranking third in the world.Currently, Gate has fully deepened its TradFi layout, with the spot sector supporting stock and metal trading, and the contract sector covering diversified assets such as gold, silver, foreign exchange, indices, and commodities. With a flexible USDT settlement mechanism and up to 100 times leverage, Gate continues to assist global investors in achieving cross-market, round-the-clock asset allocation and risk management.

According to on-chain analyst Ai Yi (@ai_9684xtpa), Trend Research has operated again after a month. 50 minutes ago, 5.41 million UNI and 228,000 COMP were transferred to the new address 0xfa9...FEB58, with a total value of 23.32 million USD, and the ownership of the address has not yet been determined.

Dr. Han, the founder and CEO of Gate, has been invited to give a keynote speech at the main campus of the University of Hong Kong on the evening of April 21, and to participate in a fireside chat and open Q&A session.The event is titled "Web3 Dialogues @ HKU - Academia x Industry," supported by the School of Computing and Data Science at HKU in collaboration with the HKU Innovation and Entrepreneurship Centre and the Core Curriculum Office, and organized by Blockchain@HKU. It is primarily open to students interested in Web3, blockchain, digital finance, and emerging technologies. As a collaborative academic event, such activities are rare at HKU.The event will focus on core topics such as the evolution of Web3 technology, the integration of AI and digital assets, and industry regulatory trends, exploring these issues in depth from both academic research and industry practice perspectives. In addition to the keynote speech, Dr. Han will engage in a fireside chat with HKU professors and discuss topics such as industry development paths, technological transformation, and career planning with the attending students.As Web3 and artificial intelligence technologies continue to intersect, the interaction between academia and industry is becoming an important aspect of talent development and cognitive renewal. Such exchanges not only provide students with opportunities to gain firsthand industry experience but also help expand their understanding of technological application scenarios and future career directions, further promoting the connection between academia and industry.

BIT released a chart today stating that since October of last year, Bitcoin has been in a continuous adjustment phase, with a weak funding situation being one of the more obvious reasons. During the same period, Tether's market capitalization has hovered around $183 billion, with overall incremental growth being limited, leading to a lack of significant new capital inflow, putting overall pressure on prices and resulting in relatively cautious sentiment.Recently, this situation has shown signs of loosening. Tether's new circulating supply has increased by about $3 billion, and the overall stablecoin market capitalization has rebounded, indicating signs of market liquidity warming up. Combined with other funding flow indicators, the signal direction is becoming more positive, but it is still in the early stages. The marginal improvement in funding flow is noteworthy, as such signals often precede price performance. If this trend continues in the coming weeks, it is expected to provide some support for prices.

ChainCatcher reported live that Ru Haiyang, CEO of HashKey Exchange Group, delivered a keynote speech at the 2026 Hong Kong Web3 Carnival, focusing on three key themes: RWA, payments, and Asian connectivity. He announced that HashKey Exchange officially launched Hong Kong's first physical gold ETF that day, fully compliant with trading and custody regulations in Hong Kong. He also revealed that HashKey has received approval from the Hong Kong Monetary Authority to jointly issue Asia's first true co-branded credit card with Shanghai Commercial Bank.Regarding industry trends, he pointed out that DTCC has received a no-action letter from the U.S. SEC to intervene in the custody and settlement of tokenized assets, Kraken has become the first cryptocurrency institution to connect to the Federal Reserve's FedWire, and Mastercard has acquired the UK blockchain payment company BVNK at an $1.8 billion valuation, indicating that traditional payment institutions have recognized the irreversible trend.In terms of expansion in Asia, he announced that HashKey officially announced its investment in the Vietnamese market on April 10, planning to jointly invest in VPBank, one of Vietnam's largest commercial banks, to help it become one of the first licensed exchanges. HashKey has also signed memorandums of understanding with leading Asian institutions such as Coins.ph in the Philippines, Indodex in Indonesia, Hata in Malaysia, and Bitazza in Thailand to explore cooperation in liquidity integration, cross-border payments, stablecoins, and asset tokenization distribution.

According to Jinshi reports, Federal Reserve's Williams stated that the underlying inflation trends show mixed signals.

According to official social media news, the decentralized contract trading platform Sun Wukong will hold a live broadcast today at 19:00 (UTC+8) themed "Hong Kong Web3 Carnival: What Kind of Market Are We Looking Forward to in 2026?" At that time, KOLs in the crypto space such as Alice, Mike Banana, Metamental | Beyond the Realm, MMK, and Web3 He Yi (sophia) will attend to discuss the trends in the crypto market for 2026 surrounding the upcoming Hong Kong Web3 Carnival.

According to Cointelegraph, Hyperliquid's native token HYPE retested $45 on Tuesday, marking the highest level since October 31, 2025. This rebound has accumulated a 108% increase from the annual low of $21 on January 21. However, market signals are mixed: spot buying is weak, and the cumulative volume delta (CVD) for spot has dropped to -41.48 million, diverging from the price increase, indicating that the rise is mainly supported by passive demand rather than aggressive spot buying.Futures sentiment is cautious, with the futures CVD remaining flat at around -748 million for nearly a month. Although open interest (OI) has risen to 1.38 billion, the weak futures CVD suggests that traders lack confidence in chasing the price up. Additionally, BitMEX co-founder Arthur Hayes predicts that if Hyperliquid continues to capture market share from centralized exchanges, HYPE could rise 200% to $150 by August this year. Currently, HYPE is priced at $43.5, which is 27% lower than its historical high of $59. Analysts warn that if bullish momentum fades, the market may be more susceptible to sharp volatility driven by liquidations.

Bitcoin is approaching the key resistance level of $75,000, with several analysts stating that this level could mark the turning point for the market from consolidation to a new upward trend.Mati Greenspan, founder of Quantum Economics, pointed out that if BTC can effectively hold above $75,000, it would signify a structural breakthrough and could attract new funds into the market; however, if it fails to maintain this level, it may form a "bull trap," although there is still strong support around $65,000.Coinmetro CEO Kevin Murcko stated that round numbers like $75,000 are usually areas where traders concentrate their bets, making it easy to trigger profit-taking and buying-selling discrepancies.Analysts further noted that if a breakout is confirmed, BTC is expected to rise to the $85,000 range, but the upward potential still depends on factors such as the macro environment, ETF fund inflows, and market liquidity.Meanwhile, there are also views that $75,000 is more of a psychological barrier, and true structural confirmation may require holding at a higher level.

Wintermute stated that the market experienced two distinct phases last week: the first half of the week was driven by ceasefire expectations, with the Nasdaq rising 4.5%, Bitcoin up 2.6%, and the VIX falling below 20. Over the weekend, talks in Islamabad broke down, and the U.S. announced a comprehensive maritime blockade on Iranian ports, causing Brent crude oil to surge 8% in a single day, returning above $103, leading risk assets to give back their gains.On the macro front: U.S. March CPI rose 3.3% year-on-year, with core CPI slightly below expectations at 2.6%. The market believes this is still a concentrated energy shock rather than widespread inflation. Asian markets saw a slight decline overnight, with Nasdaq futures steady. The market's reaction to each new piece of news is weakening, suggesting that it may have priced in the worst-case scenario or is becoming complacent.In terms of crypto assets: Bitcoin closed up 2.6% last week but did not lead the gains. The price has been consolidating in the $65,000-$73,000 range for over two months. Bitcoin spot ETFs saw a net inflow of $22.3 million last week, while Ethereum ETFs continued to bleed, with outflows reaching $327 million year-to-date. Open interest in perpetual contracts has stabilized in the $28-30 billion range.Options traders' gamma exposure in the $68,000-$72,000 range indicates that hedging activities will amplify bidirectional volatility within that range. Wintermute believes that the ceasefire trade is dead, and the market is returning to an escalation trend. However, the market's reaction function is weakening. Confirmation of the reopening of the Strait of Hormuz could push Bitcoin to break above $75,000, while continued escalation may keep prices in a range-bound fluctuation with a downward tendency. The earnings season may partially shift market attention back to fundamentals, which could change the positioning behavior at the edges of the range.

Bitget's transparency report for the first quarter of 2026 released today shows that user trading behavior is accelerating its shift from single cryptocurrency assets to multi-asset portfolios. By the end of the first quarter, the trading volume of non-cryptocurrency assets such as commodities accounted for 20%-40%, while the proportion of cryptocurrency assets fell from its dominant position at the beginning of the year to 60%-80%. The fluctuation of this data marks that a panoramic asset portfolio has become a core strategy for high-net-worth investors.On the product and ecosystem level, Bitget released the white paper for the panoramic exchange UEX in the first quarter, further clarifying the direction of integration of cryptocurrency assets, tokenized assets, and AI-driven trading under a unified framework. At the same time, the platform continues to strengthen its AI trading infrastructure, successively launching Agent Hub and GetClaw, promoting the evolution of AI from an auxiliary tool to an execution system, allowing agents to access real-time market data, identify trading signals, and execute operations autonomously under established parameters.Bitget CEO Gracy Chen pointed out: "The boundaries between the cryptocurrency market and traditional finance are rapidly dissolving, and the explosive growth of CFD business indicates the arrival of a unified market. Users are no longer making binary asset choices but are engaging in efficiency games with diverse assets under the same logical system."

According to Cointelegraph, Nic Puckrin, founder of Coin Bureau and cryptocurrency market analyst, stated that Bitcoin's current recovery is relatively weak. The geopolitical and macroeconomic pressures caused by the Middle East war will dominate the market trends in the second quarter of 2026, with interest rate cuts expected no earlier than the third or fourth quarter. He pointed out that for BTC to reach $90,000, three conditions must be met: easing geopolitical tensions, oil prices falling back to around $80, and weakening economic data.Currently, BTC is priced at approximately $71,276, facing resistance at $74,000, and still operating below the 200-day exponential moving average. Previously, BTC rose above $73,000 on April 6 but fell back due to the breakdown of U.S.-Iran negotiations and Trump's announcement to block the Strait of Hormuz. There are internal disagreements within the Federal Reserve FOMC regarding interest rate cuts in 2026, and CME Fedwatch data shows that the probability of maintaining interest rates unchanged in the meetings on April 29 and June 17 is over 98%.