The global cryptocurrency market cap surged to $2.59 trillion, marking a 5.72% increase from yesterday, according to CoinMarketCap data. Bitcoin (BTC) experienced price fluctuations between $78,464 and $82,466 over the past 24 hours. At press time, BTC trades at $82,063, representing a modest 0.35% gain. The cryptocurrency market saw mixed performance with most large-cap coins experiencing notable price swings. Notable outperformaces include BABY, ORCA, and SPELL, which have surged by 185%, 56%, and 24% respectively.
Top stories today:
* **Bitcoin Price:** Recession fears may delay bullish momentum for Bitcoin, according to a recent report from 10x Research. Meanwhile, CryptoQuant analysts suggest Bitcoin might encounter resistance at $84,000 before potentially soaring to $96,000 if positive momentum develops.
* **Crypto News:** President Trump’s reversal of the IRS’ DeFi tax rule marks a significant milestone in U.S. crypto legislation. The SEC issued guidance on crypto asset securities registration and disclosure. In addition, news highlights include the Binance-powered WalletConnect (WCT) launch on Launchpool, starting April 11th.
* **Market Update:** The market has seen some level of stability as Bitcoin volatility declined. The U.S. dollar index dropped below 100 for the first time since July 2023, while the U.S. Federal Reserve is expected to make a decision on interest rates at its May meeting.
* **U.S. economic indicators:** The U.S. 30-year Treasury yield rose as market fluctuations impacted investor sentiment. New Hampshire House approved a Bitcoin reserve bill. Arizona passed Bitcoin mining rights legislation, and the SEC issued guidance on crypto asset securities registration and disclosure. 2017 tax cuts are also being reviewed.
* **Global regulatory updates:** The EU is considering taxing U.S. tech giants amid trade negotiations, while the Federal Reserve’s decision to pause interest rate adjustments may be a key factor in market sentiment.
**Binance Market Update: Key Insights for April 11, 2025:**
* **Market Movers:** ETH is down (-2.26%) at $1560.05; XRP is up (+0.54%) at $2.0147; BNB is up (+0.71%) at $581.56; and SOL is up (+2.54%) at $117.7.
* **Top Gainers on Binance:** BABY/USDT (+185%), ORCA/USDT (+56%), and SPELL/USDT (+24%).
For complete market updates, refer to the Binance website or CoinMarketCap.