Bitcoin Eyes $87K After Double Bottom Breakout; Dogecoin, XRP Bulls Look to Establish Control

Matrixport pointed out that despite the wave of counterfeit currencies, Bitcoin remains stable. Since the launch of Ethereum spot ETFs in the United States last year, Ethereum's market dominance has decreased by nearly 50%. Many altcoins have experienced rapid increases and then rapid decreases, forming a pyramid shaped price structure. Bitcoin needs liquidity catalysts to continue to rise, such as the Federal Reserve releasing dovish signals or cutting interest rates, stablecoin growth, and increased futures leverage. However, currently there is a lack of significant liquidity influx in the cryptocurrency market, and the probability of a large-scale rise in altcoins in the short term is not high. The Federal Reserve may not adjust interest rates during the summer to assess the impact of tariffs on inflation. Despite market expectations of four interest rate cuts in 2025, Federal Reserve Chairman Powell stated that he will evaluate it cautiously. Recently, the amount of stablecoins minted has decreased, supporting the possibility of Bitcoin remaining in the $80000 to $90000 range in the short term. Despite the sluggish trading volume, the weakening of the US dollar may increase the global money supply, thereby supporting the price of Bitcoin. In addition, the reduction of regulatory risks has also made Bitcoin perform better than before in the current market adjustment.

On April 18th, according to TechFundingNews, OpenAI's $500 billion Stargate AI infrastructure project is considering expanding to Europe, with the UK, Germany, and France being major candidates. The project was jointly initiated by OpenAI, SoftBank, and Oracle, and the first large-scale data center has started construction in Abilene, Texas, USA. Although the core of the project still focuses on the US market, OpenAI CEO Sam Altman expressed a strong desire to bring similar projects to Europe. European countries have responded positively, with the UK launching the AI Opportunity Action Plan, France receiving over 100 billion euros in AI infrastructure commitments, and the EU announcing simplified AI laws and regulations to maintain competitiveness.

According to Foresight News, the decentralized secured trading infrastructure TradeOS will launch a Web3 native, trustless P2P free trading market. By using smart contracts to drive the direct and trusted trading of assets such as props, goods, or services between strangers, DeFi economy is extended to the off chain trading market, breaking through the Web3 cycle and unleashing a new round of growth potential. This market will be based on WebRoof technology (integrating zkTLS and TEE-TLS), using verifiable encryption proof to achieve a dispute resolution mechanism without intermediaries, breaking the monopoly of Web2 data and transactions, and building a new paradigm for peer-to-peer transactions. TradeOS is a decentralized secured trading infrastructure for Web3, dedicated to providing secure, trustworthy, and scalable free trading capabilities for C2C and B2B trades based on digital currencies. At present, it has received support from institutions such as Animoca Brands, HashKey, TON Ventures, etc.

OKX-BTC/USDT is currently trading at $84539.50, with a 24-hour decline of 0.26%. Please pay attention to market fluctuations.

Foresight News reported that according to Onchain Lens monitoring, a giant whale deposited 1000 ETH worth approximately $1.6 million into Binance 13 hours ago after a year of dormancy. At present, the wallet still holds 2001 ETH worth approximately 3.16 million US dollars.