1. Quick updates on cryptocurrency market
1. Altcoin market
During BTC's second bottom test today, the market share of altcoins did not test again, and most altcoins are a bit stuck.
2. Total cryptocurrency market cap
From the total market cap chart, it can also be seen that BTC has retested the low point from the day before yesterday, but altcoins have not dropped as much.
3. Liquidation heat map
From the heat map, BTC can continue to rebound.
4. Fear and Greed Index
The Fear and Greed Index is at 15, the same as the data from March 11, the lowest value in recent years, which is one of the important signals for bottom fishing.
2. Quick updates on cryptocurrency news
1. A whale holding 1.32 million SOL sold 100,000 SOL half an hour ago, worth $10.7 million.
According to Lookonchain monitoring, half an hour ago, a giant whale holding 1.32 million SOL (worth $192 million) just sold 100,000 SOL (worth $10.7 million). 15 days ago, this giant whale unstaked 1.32 million SOL, deposited 1.2 million SOL into Kamino, and borrowed $20 million USDC. He is likely selling SOL to repay the loan.
2. A giant whale sold 72.367 billion PEPE for 4.63 million DAI.
According to Lookonchain monitoring, a giant whale has just sold 72.367 billion PEPE for 4.63 million DAI.
3. 21Shares partners with House of Doge to launch Dogecoin ETP in Europe.
According to Globenewswire, cryptocurrency ETP issuer 21Shares AG has reached an exclusive partnership with the Dogecoin Foundation's commercial entity, House of Doge, to launch the first officially certified ETP product by the Dogecoin Foundation (code: DOGE), which will be listed on the Swiss Stock Exchange SIX. The 21Shares Dogecoin ETP is 100% backed by physical assets, with a management fee of 2.5%.
4. The unwinding of US Treasury arbitrage triggered market panic, and BTC bulls may face large-scale liquidations around $73,800-$74,400.
According to CoinDesk, as the US Treasury market faces a wave of unwinding in basis trades, the yield on 10-year US Treasury bonds has surged to 4.5%, with the 30-year nearing 5%. The tightening market liquidity has significantly pressured risk assets. Analysis firm Hyblock warns that if BTC drops to the $73,800-$74,400 range, it will trigger large-scale liquidations of long positions, exacerbating downward volatility. Hyblock also pointed out that the support below is around $70,000, and if broken, it may trigger more stop-losses and liquidations.
5. A giant whale spent $4.8 million to buy HYPE three hours ago.
According to Lookonchain monitoring, three hours ago a giant whale purchased 417,066 HYPE at a unit price of $11.51 using $4.8 million USDC.
6. The first AAVE repurchase proposal has been approved and will launch a $4 million AAVE repurchase on April 10.
According to the official governance page of Aave, the first repurchase proposal of AAVE was passed with a 99.63% approval rate, approving the Aave Treasury Committee to use $4 million aEthUSDT for about a month of AAVE repurchase. This plan is part of the Aavenomics economic model, with a full repurchase goal of $1 million per week over the next six months. This is the first phase, and subsequent plans will deploy an updated Aave Swapper contract to support long-term execution.
3. Quick updates on popular coins
1. EPIC
2. NOT
3. QUBIC
4. BERA
5. AITECH
6. FARTCOIN
7. ONDO
8. SOL
9. HYPE
10. BTC
11. LINK
12. ETH
13. XRP
14. BAL
15. PLUME
4. Quick updates on cryptocurrency bloggers
1. Top trader Pigeon
At 9 PM Beijing time last night, Pigeon closed his long position in SOL.
Then he published an article in the early morning, summarized as follows:
Pigeon analyzed the impact of the introduction of global trade tariffs on the global economy and risk assets. He believes this marks a shift in the world from free trade to protectionism, a change that could last for years and have long-term negative effects on the global economy. At the same time, he expressed concerns about the future of the cryptocurrency industry, especially the decline in developer activity. Although there were hopes for cryptocurrency ETFs in the past, the current development of the cryptocurrency market has not met expectations.
In the short term, Pigeon recommends reducing participation in the cryptocurrency market, believing that waiting for a new bull market is no longer contrarian thinking; exploring new 'greenfield' markets (emerging markets) is the contrarian thinking. However, despite this, Bitcoin's use case and global acceptance remain highlights in the market, which may lead believers to continue holding and profiting from it. Ultimately, Pigeon believes Bitcoin could reach $1 million by 2035 and considers this goal not unrealistic.
(Pigeon is concerned about the impact of the tariff war, believes that the performance of the crypto market is below expectations, but still firmly optimistic about BTC's future, believing it could rise tenfold in the next ten years.)
2. Trader Vivian
Vivian updated in the early morning:
The plan is to enter the market after the Asian market opens. Hbar, Popcat, CRV, Sol, AVAX are on the watchlist, but I will still wait and see. The daily closing must be above the previous low point of 76666.
Updated after the market closed at 8 AM Beijing time:
The plan to buy spot at 76K has been canceled. Now, we only plan to go long from 76K to 78.5K, and then short from 78.5K to the 73K area.
So in my chart, you will see that starting from 78.5K, we will be rejected and then drop to 72 or 73K, this part will soon be absorbed by buying. We are still unsure how deep it will drop, possibly between 70 to 73K, but we will drop a bit more and then be quickly bought up.
(Vivian believes BTC will rebound to 78.5K, then encounter resistance and drop to 73K, but will quickly recover back above 76K.)
3. Top trader Joshua
He updated this afternoon:
It seems that a short-term bottom has emerged. According to the standards of Bitcoin double bottom breakouts, setting a stop-loss and then entering the market should be feasible.
(Joshua believes it is time to enter long, using the breakdown of the double bottom at 74600 as a stop loss. Last time Joshua said the short-term bottom was on March 12, when he mentioned that March 11 was the short-term bottom, and then the market rebounded for nearly two weeks.)
4. Top trader Altcoin Sherpa
He updated this morning:
If this is a local bottom for $BTC, you will see:
• Wicks
• Volatility
• Trading volume
If these three do not appear simultaneously, it is not a bottom.
Stay vigilant.
Regarding altcoins, he said:
I just glanced at a bunch of altcoin charts, most of which still look terrible on high time frames. If BTC can stabilize here, a temporary rebound might be seen, but I'd rather wait a bit longer for more clarity. No trades today.
I want to go long on fartcoin, grass, and alch at this price level, but I've decided to wait and see first.
(Sherpa believes that the characteristics of BTC hitting the bottom are a downward pin while the trading volume increases. He thinks it hasn't hit the bottom yet and will pin down further.)
5. Top trader Definalist
He updated this afternoon:
I saw an unknown Korean user set a $45 million buy wall on the ETH spot market at Upbit (Korean exchange). Currently, it seems that about $10 million worth of ETH has been purchased.
(Definalist monitored a whale bottom fishing for ETH with a limit price below $1480.)
6. Wave Theory Liu Yudong
April 9, 2025 Daily Chart
The monitoring point red dashed line 81278 given yesterday was not broken, although it was very close, it just didn't happen. Only by breaking through it is there hope that the decline will end and a rebound will begin. If it cannot break through, it may drop below the previous low again. Today's monitoring point is at the green dashed line 75855, if it breaks below, the likelihood of breaking the previous low greatly increases. But even if it breaks below the previous low, it is still the endpoint of the drop from 109588.
The rebound has either started or will start soon.
(Liu Yudong's view is the same as yesterday, there may be one last drop before it starts to rise. Today's monitoring point 75855 broke and then recovered, the risk of a new low has not been eliminated.)
5. Summary
This afternoon I shouted to bottom fish in all groups. I usually don't do this in groups, but today is a great opportunity to enter the market, and I'm afraid everyone will miss out.
Currently, BTC has formed a double bottom at 74.6K; this is likely the bottom of the decline and adjustment over the past few months. Even if this is not the bottom, there might only be one more pin drop before it starts to rise. As long as high leverage is not used, it is fine to enter today. Guessing the top and bottom is difficult and unnecessary; you can take action when reaching the value range.
Additionally, to emphasize again, at this point in the market, the cost-effectiveness of shorting is not as good as going long. It doesn't mean you can't short at all, but you shouldn't use heavy positions, high leverage, or hold long positions short. You need to adjust your strategy in time.
Regarding altcoins, three options can be considered:
1. High popularity: e.g. FARTCOIN
2. Income agreements, buybacks and burns: e.g. JUP, BNB, BGB, CAKE, JTO
3. There are ETF or ETF speculation expectations: e.g. SOL, DOGE, XRP
Be cautious when entering ordinary altcoins; remember not to heavily invest in altcoins, as there may very well be a rise in BTC again, while altcoins could be flat or even decline.
The winter has passed, and spring has arrived; let us begin a new cycle.
Statement:
The above information is for reference only, not trading advice. The cryptocurrency market is high-risk; participation requires caution.
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