Bitcoin (BTC) maintains its upward momentum with no change. As of April 17, it is temporarily around $74,920. The 10-day ceasefire between Israel and Lebanon has taken effect. Trump claims, “Iran agreed not to have nuclear weapons, and the U.S. and Iran may resume talks over the weekend.” Mizuho Bank said that Musk’s X Money faces regulatory obstacles in New York’s crypto space. Yuga Labs appoints a new CEO, and the former CEO Greg Solano moves to become Chairman of the Board.
Macro Events & Crypto Hotspots
1、Mizuho research analyst said Thursday that the new plug-in program, X Money, launched by Musk’s social media platform, could disrupt the U.S. payments industry, including negatively impacting PayPal’s business. However, they said that a crypto bill recently introduced in New York State may make any plans for X Money to integrate crypto-asset payments in the future more complex.
Mizuho Securities analysts Dan Dolev and Andrew Jenkins wrote in a report to clients: “The proposed New York State crypto bill would classify unlicensed virtual currency business activity in that state as a crime, which would increase the risk for X Corporation to ultimately integrate cryptocurrency.”
2、According to The Block, developer of the Bored Ape Yacht Club NFT series, Yuga Labs, announced management changes. Chief Executive Officer Greg Solano has become Chairman of the Board, and Michael Figge takes over as CEO. Figge joined the company in 2021 and previously served as Chief Product Officer. He has been CEO for several weeks.
Solano said Figge is outstanding in product quality and long-term thinking, and that his work on the metaverse project Otherside over the past year proves it. In February 2024, Solano took over the role after former CEO Daniel Alegre left. It has been about two years so far.
News Updates
1、French officials: Preparing a series of new measures to protect holders of crypto assets
2、Tennessee strategic Bitcoin reserve bill to hold a Senate hearing on April 20
3、Analysis: The whale cohort holding more than 1,000 Bitcoins creates the biggest buying wave since 2013; technicals point to $90,000
4、After SIREN market makers regained control of more than 93% of the tokens, SIREN’s price surged 185% over the past 24 hours
5、Analyst: Bitcoin bull market is “too early to say,” with demand lagging behind fund outflows
6、Listed crypto mining firms: BTC selling volume in Q1 2026 exceeds the total for all of 2025
7、Cardano founder: BIP-361 is effectively a hard fork and Bitcoin cannot save Satoshi Nakamoto
8、U.S. CFTC Chairman questioned at congressional hearing on prediction markets, Hyperliquid, and staffing issues
9、Morgan Stanley digital assets head: Crypto is becoming the company’s “day-to-day business”
10、Tempo launches privacy solution Zones, supporting permissioned parallel blockchain operation
Market Performance
1、Latest Bitcoin news: $BTC maintains its upward momentum, temporarily around $74,920. Liquidations in the past 24 hours totaled $121 million, with the main liquidation coming from long positions;
2、Four major U.S. stock indexes closed higher on April 16. The S&P 500 and Nasdaq indices hit record closing highs for the second consecutive day. The Philadelphia Semiconductor Index set a new high for the seventh straight day. The market is optimistic that the worst phase of the Middle East conflict may have passed. Earlier, Israel agreed to a temporary ceasefire with Lebanon, and U.S. President Trump also said the U.S. and Iran may resume talks again over the weekend. The Dow Jones Industrial Average closed up 115.00 points, up 0.24%, at 48,578.72; the S&P 500 rose 18.33 points, up 0.26%, closing at 7,041.28; the Nasdaq Composite rose 86.69 points, up 0.36%, closing at 24,102.70.
（Source: Gate）
3、In the Gate BTC/USDT liquidation map, using the current 74,967.60 USDT as the reference: if it drops to around $73,506, the cumulative liquidation amount for long positions exceeds $432 million; if it rises to around $75,720, the cumulative liquidation amount for short positions exceeds $241 million. The liquidation amount for the bears is significantly lower than that for the bulls. It is recommended to control leverage reasonably to avoid triggering large-scale liquidations during market moves.
（Source: Coinglass）
4、Over the past 24 hours, BTC spot inflows were $2.30 billion, outflows were $2.31 billion, for net outflows of $0.10 billion.
（Source: Coinglass）
5、Over the past 24 hours, net outflows led for $SOL, $DOGE, $BTC, $DOT, $ADA , and other contracts, creating trading opportunities.
Selected Views from X KOLs
Phyrex Ni（@Phyrex_Ni）: “On Wednesday, I felt that the conflict between Iran and the U.S. is trending toward further improvement. Today, Israel and Lebanon also reached a temporary ceasefire agreement. This means the reason for Iran to blockade the Strait of Hormuz no longer exists. If Iran does not blockade the Strait of Hormuz, the U.S. would not blockade Iran’s ports either. The tense atmosphere should be able to ease.”
“However, although the risk market is already celebrating in advance, both WTI and Brent are also rising, and even the dollar is rising. I looked around and didn’t find any negative information. Even Trump, who has been consistently non-committal about extending the ceasefire, has started to soften today. In theory, the market’s sentiment is still quite good. For now, it’s still unclear why oil prices rebounded.”
“But if the Strait of Hormuz can be reopened by Iran, then a drop in oil prices should be very likely—especially since it’s a ceasefire between the U.S. and Iran. Also, I’ve emphasized that even if there is a ceasefire, this war is not the main reason to stop the risk market, especially for $BTC . The key should still be monetary policy.”
“Looking back at the Bitcoin data, the positioning structure remains very stable. Although trading volume is declining, the turnover rate is also falling. This again proves that it is now very difficult for low prices to force investors to give up the positions they hold. I’ve kept emphasizing that investors have strong interest in BTC below $70,000, and now it seems that’s indeed the case. In this stage, investors’ game is still mainly between a comprehensive ceasefire between Iran and the U.S., and a decline in oil prices.”
Outlook for Today
1、Eurozone February seasonally adjusted trade balance (in billions of euros), prior value was 12.1
