The cryptocurrency market continues to evolve at a rapid pace, driven by macroeconomic shifts, institutional developments, and technological advancements. On April 22, 2025, Bitcoin surged past $87,000, reigniting bullish sentiment across the digital asset landscape. This comprehensive update explores key market movements, regulatory insights, and strategic developments shaping the future of blockchain and crypto adoption.
Bitcoin Reclaims $87K: Bullish Momentum Builds
Bitcoin (BTC) broke above the $87,000 mark for the first time since early April, reaching $87,325 with a 2.4% gain over 24 hours. The rally is attributed to rising global liquidity and increased institutional accumulation. Notably, Strategy Group added 3,459 BTC this month, signaling strong confidence from major players. Additionally, growth in the M2 money supply has contributed to broader market optimism.
👉 Discover how institutional inflows are reshaping Bitcoin’s price trajectory
Despite the surge, analysts remain cautious. While technical indicators point to upward momentum, uncertainty surrounding U.S. trade policies tempers expectations of an immediate bull market. For now, the recovery from the April 7 low of under $75,000 remains intact.
Record Realized Market Cap Signals Strong Holder Confidence
On April 14, 2025, Bitcoin’s realized market cap hit an all-time high of $872.2 billion, according to CryptoQuant analyst Carmelo Alemán. This metric calculates the total value of all circulating BTC based on the price at which each unit was last moved on-chain. In essence, it reflects the aggregate cost basis of all current holders.
A rising realized market cap suggests that more investors are holding rather than selling—indicating growing confidence in Bitcoin’s long-term value and network resilience. This trend often precedes extended bull phases, as selling pressure diminishes and demand outpaces supply.
Technical Outlook: Can BTC Reach $92K?
According to CoinDesk analyst Omkar Godbole, Bitcoin’s breakout above $87,000 opens the door for a potential climb to $90,000–$92,000. The price recently emerged from a consolidation phase between $83,000 and $86,000, accompanied by a bullish crossover above its 30-day exponential moving average (EMA).
However, the 200-day simple moving average (SMA) sits at $88,245—a critical resistance zone. A sustained move above this level could confirm stronger bullish momentum. Conversely, if BTC falls below $85,000, the current optimistic outlook may be invalidated.
CryptoQuant research director Julio Moreno adds that the psychological and technical resistance zone lies between $91,000 and $92,000. This range aligns with the on-chain realized price—the average price at which current holders acquired their BTC. Historically, this level acts as resistance during bearish or neutral market conditions (when the "bull market score" is ≤ 40), reinforcing its significance.
Dollar Weakness Fuels Bitcoin Appeal
Matrixport analysis highlights a growing inverse correlation between Bitcoin and the U.S. dollar. Recent softening of the dollar—partly fueled by political tensions involving potential Federal Reserve leadership changes—has renewed investor interest in BTC as a hedge against currency depreciation.
As fiat purchasing power fluctuates, Bitcoin’s fixed supply and decentralized nature make it an increasingly attractive store of value for U.S. investors seeking portfolio diversification and inflation protection.
Institutional Expansion into U.S. Crypto Markets
Major financial institutions are positioning themselves for deeper involvement in digital assets. According to The Wall Street Journal, a consortium including Deutsche Bank and Standard Chartered is exploring expansion of their cryptocurrency operations into the United States. This move underscores growing institutional confidence in regulated crypto markets and hints at broader financial integration on the horizon.
Regulatory Clarity Takes Shape in Financial Hubs
China Advances Blockchain in Finance
A new action plan for the Shanghai International Financial Center—jointly issued by the People’s Bank of China and other regulators—emphasizes the role of blockchain in modernizing financial infrastructure. Key initiatives include:
- Using blockchain to verify electronic documents and enhance cross-border financial services.
- Strengthening the Cross-Border Interbank Payment System (CIPS) with blockchain integration for trade and investment settlements.
- Developing green supply chain finance through blockchain-tracked orders, logistics, and carbon footprint certification.
- Expanding blockchain-based financing tools such as invoice financing, order financing, and warehouse receipt pledges.
These steps signal a strategic push toward secure, transparent, and efficient financial ecosystems powered by distributed ledger technology.
Legal Frameworks for Virtual Asset Crime
China’s Supreme People’s Procuratorate has called for improved mechanisms to identify and trace criminal use of virtual currencies. Challenges include anonymity, complex transaction paths, and valuation difficulties. Experts recommend:
- Enhanced on-chain forensic tracking.
- Better integration of virtual and fiat transaction trails.
- Simplified evidentiary standards like “comprehensive assessment” methods.
- Transparent valuation systems to ensure fair asset handling in legal proceedings.
Such frameworks aim to balance innovation with accountability in digital finance.
Privacy vs. Regulation: Telegram’s Stance on Encryption
Telegram founder Pavel Durov reaffirmed the platform’s commitment to user privacy after French authorities proposed legislation requiring backdoors in encrypted messaging apps. Durov argued that such measures would compromise security for all users, as backdoors could be exploited by hackers or foreign actors.
He emphasized that criminals can easily switch to alternative encrypted tools or use VPNs—rendering such laws ineffective—while law-abiding citizens bear the risk. Telegram will never introduce backdoors, stating it would rather exit a market than violate fundamental privacy rights.
Under the EU’s Digital Services Act, Telegram complies with valid court orders by disclosing only IP addresses and phone numbers—not message content—highlighting a balanced approach to legal compliance and digital freedom.
Global Leaders on Blockchain Adoption
Binance CEO Richard Teng emphasized that forward-thinking nations embracing blockchain early will gain significant advantages: lower capital costs, attraction of tech-savvy investors, and resilient digital infrastructure. Conversely, laggard countries may face higher costs to catch up—a warning for policymakers worldwide.
Exchange Developments and Token Listings
Coinbase announced upcoming support for Reserve Rights (RSR) token trading on the Base network. The RSR/USD pair is expected to go live in phases after 00:00 UTC on April 23, 2025, pending liquidity conditions. Users are urged not to transfer RSR via non-Base networks to prevent fund loss. Regional restrictions may apply.
👉 Stay ahead with real-time updates on new token listings
Ethereum Faces Criticism from Prominent Analyst
PlanB, a well-known crypto analyst, criticized Ethereum in a recent post, labeling it a “centralized, pre-mined PoS coin with arbitrary supply changes.” He argued that such characteristics undermine core crypto principles and claimed Ethereum “deserves all the mockery it gets.” While controversial, his comments reflect ongoing debates about decentralization and monetary policy within the crypto community.
ETF Pipeline Grows: 72 Crypto-Linked Funds Await SEC Approval
Bloomberg ETF analyst Eric Balchunas revealed that 72 cryptocurrency-related ETFs are currently under review by the U.S. Securities and Exchange Commission (SEC). These include spot and derivatives products tied to XRP, Solana, Litecoin, Dogecoin, and even niche themes like “2x Melania.” Applications come from major firms including Grayscale, Bitwise, and ProShares.
Green-labeled entries indicate approved filings; red denotes rejections or delays. With approvals accelerating in early 2025, this year could mark a watershed moment for crypto ETF accessibility.
U.S. Targets Crypto Tax Avoidance in Puerto Rico
New York Congresswoman Nydia Velázquez introduced the Puerto Rico Digital Asset Fair Taxation Act, aiming to close tax loopholes used by crypto investors exploiting Puerto Rico’s favorable tax regime. The bill seeks to amend local tax law so that capital gains from digital assets are subject to both federal and territorial taxation—curbing efforts to evade U.S. tax obligations through geographic arbitrage.
Frequently Asked Questions (FAQ)
Q: What is Bitcoin’s realized market cap?
A: It’s the sum of all bitcoins valued at the price when they were last moved on-chain. It reflects the collective cost basis of current holders and indicates long-term investor confidence.
Q: Why is Bitcoin breaking above $87K significant?
A: This breakout signals renewed bullish momentum after weeks of consolidation. If sustained above $85K, it could pave the way toward $90K–$92K targets.
Q: How does dollar weakness affect Bitcoin?
A: Historically, BTC shows a negative correlation with the U.S. dollar. When the dollar weakens, investors often turn to Bitcoin as a hedge against devaluation.
Q: Are more banks entering crypto?
A: Yes—major institutions like Deutsche Bank and Standard Chartered are exploring U.S.-based crypto services, signaling deeper financial integration.
Q: Can Telegram be forced to decrypt messages?
A: No—Telegram does not store message content and refuses to implement backdoors. Under EU law, it only discloses IP addresses and phone numbers upon valid legal request.
Q: How many crypto ETFs are pending SEC approval?
A: As of April 2025, 72 crypto-related ETFs are awaiting decisions from the SEC—from major assets like Solana to experimental thematic funds.
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