FameEX Morning Crypto News Recap | April 29, 2025
2025-04-29 02:07:14U.S. Congress Speeds Up Cryptocurrency Legislation, Targeting August Finish
U.S. lawmakers will prioritize cryptocurrency legislation after the Easter recess, focusing on passing stablecoin and market structure bills before the August deadline set by President Trump to accelerate regulatory clarity in the sector.
Trump Administration Concludes Broader Trade Deals with Several Nations
On April 29, two Trump administration sources said Trump is finalizing larger trade agreements with several countries, requiring additional time before the White House can formally announce the deals.
Bitcoin Spot ETFs See $3.06 Billion Net Inflow Last Week, Marking Second-Highest on Record
Last week, Bitcoin spot ETFs saw a $3.06 billion net inflow, the second highest on record, according to SoSoValue data. BlackRock’s IBIT led with a $1.45 billion inflow, bringing its total historical net inflow to $41.2 billion.
Gap Between BlackRock’s Bitcoin Spot ETF and Strategy Narrows to 20,000 BTC
As of April 29, the gap between BlackRock’s Bitcoin Spot ETF (IBIT) and Strategy narrowed to 20,000 Bitcoins. IBIT holds 573,869 Bitcoins, while Strategy holds 553,555 Bitcoins.
Bitcoin Hits Short-Term Resistance, Eyes Break Above $100,000
10x Research reported that Bitcoin faces short-term resistance between $94,000 and $95,000, with bearish reversal signals and a 95% stochastic reading indicating downside risks. However, analysts view this as a brief consolidation before a potential breakout above $100,000.
JPMorgan: Stablecoin Market to Hit $500–$750 Billion in the Next Few Years
JPMorgan predicts the stablecoin market will reach $500B–$750B soon. If 70% is invested in U.S. Treasury bonds and 30% in repurchase agreements, stablecoin issuers could become the third-largest Treasury buyers.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.