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Bears made an attempt to knock Bitcoin lower, but the buying demand was too strong. Bulls held firm, turning what was a 2% intraday dip into a small gain of 0.31% on the day. A decent turnaround, considering the early pressure. Since Tuesday’s breakout, Bitcoin has entered a two-day consolidation phase—but this isn’t a sign of weakness. This is a bullish consolidation.
Rather than pulling back after the rally, Bitcoin is holding steady—positioning for the next leg up toward $100K in the coming weeks.
While the majors posted small moves—Ethereum down 1.41%, Solana up 0.96%, and Ripple down 0.60%—the clear standout continues to be Sui, up another 12.76% on the day. Since Monday, Sui has surged 60% and is now trading back above $3.36, cementing its place as this week’s breakout performer since Bitcoin’s rally kicked off.
Stormrake Spotlight: Ripple (XRP) ($2.20)
Stormrake Spotlight: Ripple (XRP) ($2.20)
XRP continues to struggle with the 55EMA acting as stiff resistance. We're seeing a tug-of-war play out, with price action repeatedly closing right around that key moving average. Despite several attempts to break higher—or drop lower—the battle remains at a stalemate.
Yesterday, the bears managed to push XRP down as much as 4.5% intraday. But demand returned sharply at the 21EMA, providing a strong bid and reversing the move lower. The presence of buyers at key EMAs keeps XRP in play.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin briefly dipped below the critical $92.5K support, but that move was short-lived. A sharp bounce off the 55EMA sent BTC right back above all the key levels. This strong defence reinforces the bullish consolidation narrative.
With solid demand holding at technical supports, it appears to be only a matter of time before BTC takes the next leg up, eyeing the next target at $95.7K.
BTC Total ETF Flows for 23 April: $ + 107.2 million
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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