Crypto Market Pulse - April 14, 2025

LAST WEEK RECAP:

• China inflation rate lower than expected (YoY -0.1% vs 0.1% exp, MoM -0.4% vs -0.2% exp)
• US Core Inflation lower than expected (MoM 0.1% vs 0.3%, YoY 2.8% vs 3% exp)
• US PPI lower than expected (MoM -0.4% vs 0.2% exp)
• Tariff updates: USA tariffs on China escalate every day to 145%, then exempt electronics from the tariffs
• USA pauses originally stated tariffs for 90 days, introducing a 10% tariff on all countries instead (except for China)
• China's tariffs on the USA reach 125%, and China will supposedly ignore any further increases in tariffs from the USA as prices have already become “economically unattractive”

LEGACY MARKETS – DXY

DXY has dropped to the key support level around 100, just as expected last week. Now we need to watch closely to see whether this level provides some support or if it breaks down further.

BTC WEEKLY VIEW

BTC noticeably broke above its long-standing downtrend line over the past weekend, so we expect a rebound to follow. $75K will serve as a short-term bottom.

ETH WEEKLY VIEW

ETH has been undergoing a sideways consolidation and hasn't shown signs of a trend reversal like BTC. We still need to wait for ETH to find its strength.

ETH/BTC

ETH/BTC has seen another surge in volume at the bottom. Although ETH's performance remains relatively weak, this is still a positive signal — we might see a rebound in ETH soon.

TOTAL3 USD MARKET STRENGTH

TOTAL3 has also reached a critical breakout point at its downtrend line. If we see a breakout accompanied by strong volume here, we believe altcoins could be poised for a rebound.

TOTAL3 BTC MARKET STRENGTH

TOTAL3/BTC is also undergoing sideways consolidation. We should closely monitor this area to see whether it will reverse to the upside or continue its downtrend.

MARKET LEVERAGE RATIO

The leverage ratio found support at the lower boundary of the demand zone and has seen a rebound to the upside. Market sentiment is starting to show some positive signals.

BTC OPEN INTEREST

Open Interest increases steadily again along with price, as sentiment improves with a seemingly de-escalation of trade war (Trump pausing tariffs for 90 days for all countries except China)

BTC PERPS FUNDING

BTC perps funding remains elevated, with a noticeable spike in price on April 9- likely from longs being chased as Trump announced the 90-day pause on tariffs.

BTC LONG/SHORT RATIO

The long/short ratio turns significantly on the longer side as the week progressed- coinciding with the increasingly easier tone of the trade war progression

ETH OPEN INTEREST

OI dropped significantly when the week started, as more positions exited the market with the continuing fall in price. However, as trade tensions “eased”, we saw a slight increase in OI and price, but nothing as significant as what we saw in BTC.

ETH PERPS FUNDING

ETH funding turned negative with the fall in price as more longs exited
Funding then turned positive when the price recovered, as sentiment started to improve slightly.

ETH Spot Inflow/Outflow

Similarly, the long/short ratio turned significantly on the longer side as the week progressed, coinciding with the increasingly easier tone of the trade war progression.

SUMMARY

• BTC rebounded sharply, gaining 12% to trade around $84,000, holding key support after last Monday’s low. Its recovery signals renewed bullish sentiment but remains sensitive to macro headlines.
• ETH followed BTC’s lead with double-digit gains, showing strong momentum. Still, it needs sustained positive macro signals to confirm a longer-term uptrend.
• Major altcoins also saw significant double-digit rallies, benefiting from the broader relief bounce. However, they remain more volatile and reactive to geopolitical developments.
  

DISCLAIMER:

The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

This post was prepared by Kairon Labs Trader Patrick Li, Travis Su, and Kenny Lee.

Edited by: Marianne Dasal