Bitcoin’s Golden Glow and Monero’s Surge Steal the Show

Happy Monday, crypto fam! 

Bitcoin is now shining above $95k, the SEC promises less regulatory chaos, and Monero’s mooning reveals some sketchy Bitcoin theft vibes.

Token Metrics’ Market Indicator has now turned bullish on the 23rd of April, after accurately predicting the bearish movement since January 19th, 2025. Visit Token Metrics now to see what coins have turned bullish and level up your trading game by placing buy and sell orders directly on the platform. 

We have the juicy deeds to keep your trades sharp and bags stacked, so let’s get into it!

In Today’s Edition

🌕 Bitcoin regaining momentum, ETPs pull $3.4B

🌕 SEC’s New Sheriff: Paul Atkins vows clear crypto rules 

🌕 Monero’s Surge: 50% jump tied to $330M $BTC theft

Market Watch

Bitcoin is flexing its digital gold status by being strongly correlated with gold. It trades above $95,000 with a positive weekly momentum, shrugging off macro jitters, despite a slowdown in global cargo shipments caused by aggressive tariffs. 

Crypto exchange-traded products (ETPs) saw $3.4B in inflows last week, the third-largest inflows in a week, marking the highest level since December 2024. Bitcoin secured the highest at $3.18B, followed by Ethereum at $183M, and Solana witnessed net outflows. 

The new inflows are marking a trend reversal in crypto ETPs, likely stemming from concerns over tariff impacts on corporate earnings, and weakening of the U.S. dollar, fueling demand for alternative safe-haven assets. 

SEC’s New Sheriff

SEC Commissioner Hester Peirce and the head of the crypto task force roasted crypto custody rules, calling them a “floor is lava” game where firms dodge regulatory traps. At an April 25 SEC event, she and Mark Udeya slammed unclear guidelines, hinting at a smoother custody path ahead. This could accelerate institutional DeFi adoption in the medium to long term. 

At the same roundtable, recently sworn-in chair of the SEC, Paul Atkins, said he expected huge benefits from blockchain technology through efficiency, risk mitigation, transparency, and cutting costs. He reiterated his goal of facilitating a clear regulatory road ahead for digital assets. 

Monero’s Surge

Earlier today, Monero ($XMR) experienced a significant price surge, upwards of a 50% increase within a few hours. This spike was attributed to a large-scale transfer of 3,250 $BTC (approx. $330.7M) from a potential victim, which was allegedly laundered through multiple instant exchanges and converted into Monero.

As highlighted by on-chain detective ZachXBT, this activity drove the surge in Monero’s price due to its use in anonymizing transactions. The current price of $XMR is $273, up 19% for the day.

Meme of The Day

What the Coin is Going On

1. Bitcoin turns positive 

2. Third-largest weekly inflows in crypto ETPs

3. Clear regulatory rules for crypto under the new SEC chair

4. Monero’s price surge amid a potential theft 

That’s all for today, folks. 

Talk Tomorrow

Your Friend at Token Metrics