Driven by diverging macro sentiment and DeFi security incidents, CORE has recently experienced intense price volatility. After a surge in mid-April, the price fell back to around $0.038, intensifying two-way market betting. In the short term, $0.035 is a key support, while the $0.047–$0.050 range serves as major resistance. Technical signals indicate a bottoming process through oscillation. It is recommended to monitor macro policies and the liquidity changes among market makers; unless new funds enter the market, the price is likely to continue consolidating within the current range. If $0.035 is breached, further risk release should be anticipated. In the medium to long term, structured funds may favor safe and compliant assets. It is advised to accumulate high-quality DeFi assets with sustainable value at lower prices.

Recently, the battle between bearish and bullish forces in the market has been evolving. On one hand, a large number of speculators have increased their short positions, pushing lending rates to nearly three-year highs. On the other hand, institutional funds continually flow into spot ETFs, fueling sustained buying. Such emotional splits in Bitcoin tend to trigger sharp short-term fluctuations, which also affect mid- and small-cap tokens like CORE. Based on CORE's rally from $0.027 to $0.071 in mid-April, market risk appetite noticeably improved, but the subsequent quick drop back to around $0.038 reflects the dual pressure exerted by market sentiment on price amidst two-way betting.

Despite recent Bitcoin price gains, investors are increasingly betting on a price decline. Data from CEX.IO shows short sellers paying rates around 11%, peaking at 19%, the highest since early 2023. Concurrently, Bitcoin is undergoing one of its largest accumulation phases. The simultaneous rise in strong buying and short positions suggests potential significant price volatility, with the possibility of a short squeeze or a reverse shock. Bitcoin currently down 1.6% at $75,754.

Analysis: Bitcoin short positions surge, market prepares for significant volatility.

Bitcoin rose 2% to $7,910 and Ethereum 3% to $2,388 amid easing geopolitical tensions, boosting Asian markets with Japan's Nikkei 225 and South Korea's Kospi hitting record highs. The US spot Bitcoin ETF saw $823.7 million net inflows for the fourth consecutive week. The crypto fear and greed index improved from 29 (fear) to 47 (neutral). Analyst Dominick John attributes gains to ETF inflows, technical breakthroughs, and reduced risk aversion.

Analyst: Both the crypto market and Asian stock markets rise amid easing geopolitical tensions.

The aftermath of the recent KelpDAO hack is still unresolved, with several DeFi platforms busy patching vulnerabilities and adjusting risk controls. Meanwhile, industry conferences are emphasizing deeper engagement and project quality, driving capital towards high-quality assets and away from speculative projects. As a member of the DeFi ecosystem, CORE may face increased trading volume and heightened price volatility during periods of frequent security incidents in the short term. However, in the medium to long term, it could benefit from capital structurally allocating toward safer and sustainable projects, maintaining relatively stable value support.

The aftershocks of the KelpDAO hacker attack continue to impact the crypto sector, with Aave and DeFi partners addressing the fallout. Meanwhile, the Hong Kong Web3 conference highlights the industry's shift into a challenging growth phase, filtering out casual investors and emphasizing deep engagement. Key developments include major institutional Bitcoin purchases, new product launches, regulatory updates, and the rise of AI-driven innovations reshaping crypto and finance.

A Week in Review | The aftershocks of the KelpDAO incident continue, while the Hong Kong Web3 conference leads this week's core narrative.

The Weekly Editor's Picks (0418-0424) highlights key insights from fast-moving news, covering macroeconomic trends like the looming physical oil supply shortage despite the reopening of the Strait of Hormuz, investment and crypto market analyses including user geography and token strategies, and policy updates such as the uncertain passage of the CLARITY Act. It also addresses DeFi challenges, security incidents, and notable industry developments, offering a curated filter to retain valuable perspectives amid information overload.

Weekly Editor's Picks (0418-0424)

On the daily chart, CORE saw a surge with high trading volume on April 16, closing above the $0.041 resistance area. The following two days accelerated upwards, reaching a peak of $0.071, but trading volume did not sustain, forming a typical high-volume top. Afterwards, prices rapidly retreated, returning to around $0.038 by April 30, showing a classic double-top pullback structure. Currently, $0.035 serves as short-term support, while the $0.047–$0.050 range constitutes a medium-term resistance zone. Technical signals indicate that the market may now be entering a consolidation phase, waiting for new momentum to accumulate.

BIT Research indicates multiple signals are simultaneously strengthening, suggesting that Bitcoin's recovery rally may have begun. From technical convergence to capital restoration, the market is gradually confirming a trend reversal.

BIT Research: Multiple Signals Strengthen Simultaneously, Has the Bitcoin Recovery Rally Already Started?

Multiple central banks are set to hold rate decision meetings soon, which are likely to remain unchanged, but geopolitical factors and inflation trends will be key focus points. Additionally, prominent market makers have recently faced losses, with some portfolios forcibly liquidated, squeezing liquidity and dragging sentiment for smaller tokens. For CORE to regain upward momentum, it needs new market liquidity support under macro stability and market maker position replenishment. Otherwise, the price is likely to continue oscillating within the current range in the short term, with risks intensifying below the $0.035 level.

Danske Bank analyst Asger Wilhelm Dalsjo highlights that with the Middle East conflict entering its ninth week, central banks will assess its current and future economic impacts. This week, the Bank of Japan, Bank of Canada, Federal Reserve, Bank of England, and European Central Bank will hold policy meetings. While all are expected to keep interest rates unchanged, their evaluations of the conflict's economic effects will be closely watched, making monetary policy decisions the main market driver.

Analyst: Interest rate decision will be the main market driver, focus on the impact of Middle East conflict.

Core

Fed's Harker: Given the current economic outlook, the Fed's "clear easing bias" is no longer appropriate.

Bank of England: Active hold with June risks – Rabobank

If the White House uses dollar swap lines to bail out favored allies or attaches geopolitical strings to the loans, it will damage a backstop that has headed off disaster in the last two global crises, says @csmart (via @opinion)

The ECB’s rate decision this week provides more time to assess whether the Middle East crisis triggers prolonged inflation, Martin Kocher says.

Ethereum Price Forecast: ETH risks decline as inflation rises

The ECB will need to increase interest rates in June if there isn’t a significant change in the outlook, says Bundesbank President Joachim Nagel

ECB Increasingly Likely to Hike in Near Future, Muller Says

Standard Chartered Bank predicts the European Central Bank will raise interest rates by 25 basis points in June.

SoSo Macro | US Q1 GDP Misses Expectations; March PCE Hits Three-Year High

Tokyo’s key inflation gauge unexpectedly slowed and remained below the Bank of Japan’s target, supporting policymakers’ cautious approach toward resuming interest-rate hikes.

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