The short-term trend of SPK is driven by improved macro risk appetite and inflow of mainstream funds, leading to a rebound. However, the unlocking of nearly 28 million tokens on April 17 will significantly increase selling pressure, likely intensifying volatility. Currently, $0.0210 serves as a key support level, and $0.0232 as critical resistance. If the price stabilizes above $0.0220 after unlocking and trading volume remains high, a new upward trend may be established; otherwise, if it falls below $0.0210, short-term investors are advised to stay on the sidelines and be cautious of a pullback to the $0.0200 area. Strategically, it is recommended to closely monitor changes in fund flows and trading volume resulting from the unlocking, and to operate flexibly within the support and resistance range.

Recently, Bitcoin has continued to rise, breaking through four-week highs and approaching a key volatility trigger zone. Meanwhile, market optimism from eased geopolitical risks and expectations of hawkish Fed comments have driven a broad recovery in risk assets. Institutional capital inflows into Bitcoin ETFs and increased holdings by major companies have further boosted risk sentiment, spurring synchronized activity among altcoins. From April 13 to 16, SPK recorded three consecutive robust bullish candles with expanding volume, pushing the price from $0.0204 to above $0.023, indicating a significant strengthening of bullish momentum.

Bitcoin has surpassed a four-week high, rising above $74,000. Analysts identify $75,000 as a critical "volatility release point," where derivative market negative gamma effects may amplify price fluctuations. This level coincides with Bitcoin's 100-day moving average, a key resistance in January. Breaking $75,000 could accelerate an uptrend, while a pullback may increase downward pressure. The $80,000–$80,600 range is a positive gamma zone with lower volatility, and the 200-day moving average at $87,519 serves as a long-term reference.

Analysis: Bitcoin breaks four-week high, key price range may intensify market volatility

According to on-chain data platforms, approximately 27.89 million SPK tokens, equivalent to around $5.58 million, will be unlocked on April 17, potentially releasing a certain amount of selling pressure in the short term. Although the price has already posted a pre-unlock rebound in anticipation, the unlocking day itself may trigger profit-taking, causing sharp short-term fluctuations. Investors should monitor changes in trading volume and fund flows after the unlocking to assess the market’s capacity to absorb the additional supply.

Spark Protocol (SPK) will unlock approximately 27.891 million tokens worth about 5.58 million USD on April 17 at 00:00 Beijing time, according to token unlock data from Web3 asset data platform RootData reported by ChainCatcher.

RootData: SPK will unlock tokens worth approximately $5.58M in one week.

The daily chart shows SPK rebounded from the $0.0200 level, establishing short-term support at $0.0210. The $0.0229–$0.0232 range represents a dense area of previous highs. With expanding volume, the price is currently exceeding that range; if SPK can sustain consolidation above $0.0220 and trade higher on increased volume, it may confirm a new bullish trend. Conversely, if the price falls and loses the $0.0210 support, it could retest multiple support points near $0.0200.

Spark

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

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The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

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Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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SPK price today is 0.02, with a live price change of 3.44 in the last 24 hours. Convert, buy, sell and trade SPK on Bybit-eu.

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