ICX is currently influenced by both macroeconomic bullish factors and short-term sentiment fluctuations. The price has rebounded from $0.036 to above $0.04, but there is significant resistance around $0.0422. If Bitcoin continues to rise, ICX is expected to test previous highs; otherwise, it is likely to consolidate within the $0.038–0.04 range. Increased trading volume and improved spot liquidity may attract speculative capital, coupled with long-term incremental demand support. It is recommended to watch for buying opportunities at lower levels and operate flexibly within the range. Risk warning: If market risk appetite decreases, there is still short-term correction pressure.

Recently, overall market sentiment has fluctuated notably: on April 16, mainstream platform funding rates recovered to above 0.01%, indicating dominant bullish sentiment, but on April 17, rates dropped below 0.005%, revealing renewed selling pressure. Such shifts have intensified short-term investors’ wait-and-see attitude. Although ICX climbed gradually from $0.036 to near $0.04 following Bitcoin’s rally since mid-April, if overall risk appetite falls back, short-term profit-taking may accelerate, possibly causing a notable correction.

According to Coinglass data on April 16, as Bitcoin continues to rise, the funding rates on major centralized and decentralized exchanges indicate a significant weakening of the bearish market sentiment. Funding rates, used to balance perpetual contract prices with underlying asset prices, show that when rates exceed 0.01%, the market is generally bullish, while rates below 0.005% indicate bearish sentiment.

The current mainstream CEX and DEX funding rates indicate a significant weakening of the bearish market sentiment.

On April 17, Coinglass data showed that as Bitcoin maintained a volatile trend, the funding rates on major CEX and DEX platforms indicated a deepening bearish sentiment in the market. Funding rates, used to balance perpetual contract prices with underlying asset prices, reflect trader sentiment: rates above 0.01% signal bullishness, while rates below 0.005% indicate bearishness. Current rates suggest increased market pessimism.

The current mainstream CEX and DEX funding rates indicate a deepening bearish sentiment in the market.

ICX’s daily K-line structure shows that after bottoming at $0.0327 in late March, the price rebounded and broke through psychological levels at $0.038 and $0.04 consecutively on April 16–17, with trading volume increasing from an average of 1.5 million to about 2.6 million. The main resistance currently is at $0.0422 (late March level), while initial supports are at $0.0361 (April 15) and the round number $0.04. If Bitcoin continues breaking through key averages, ICX may test previous highs; otherwise, it may consolidate in the $0.04–0.038 range.

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

Bitcoin recently surpassed $75,000 for the first time in 73 days, facing resistance near $78,000 with $74,000 seen as a critical support level for further gains. Market views diverge: bears cite weak macro liquidity and reliance on short-covering, while bulls highlight strong whale accumulation and potential breakthroughs above key moving averages. The broader market shows mixed signals amid geopolitical developments and fluctuating investor sentiment.

Trading moment: BTC encountered resistance at 78K, and it needs to hold 74K to aim for a breakthrough.

Easing tensions in the Middle East and the strong rebound in US tech stocks have improved the performance of risk assets overall, while ongoing institutional inflows into Bitcoin ETFs are providing stable long-term incremental demand for the crypto market. Although hawkish signals from the Federal Reserve may curb short-term speculation to some extent, in the long run, crypto assets’ role in global portfolios is gradually rising. ICX is positioned to gain real value support through its cross-chain ecosystem and application scenarios as the industry develops.

BitMart Research Weekly highlights easing US-Iran tensions and a hawkish shift in the Federal Reserve, driving a rebound in risk assets including crypto. US stocks, especially AI-related sectors, show strong recovery amid geopolitical risks. Inflation data signals potential upward pressure if oil prices stay high. Crypto markets follow US stocks with BTC and ETH leading, while altcoins remain volatile. Institutional inflows into Bitcoin ETFs and MicroStrategy’s increased BTC holdings indicate long-term confidence.

BitMart Research Institute Weekly Hotspot Analysis: US-Iran Easing Combined with Fed's Hawkish Shift, Crypto Market Follows Rebound to Form a Bottom

The Middle East ceasefire and US-Iran nuclear talks progress have eased geopolitical risks, pressuring oil prices and boosting global risk assets. The Nasdaq set a record 12-day winning streak, with tech and AI sectors attracting capital. Bitcoin rebounded above $74,000 amid steady ETF flows and balanced leverage liquidations. However, Democratic opposition delays Fed nominee Wash's hearing, increasing leadership uncertainty and market volatility risks.

Bitget UEX Daily Report | Hopes for Middle East Peace Rise, Nasdaq Hits Record 12 Consecutive Gains, Anthropic Releases New AI Model

In terms of trading channels, social media platforms have introduced new features allowing users to directly search for and trade crypto assets, increasing the token’s visibility and user engagement. Meanwhile, on-chain perpetual contract trading volumes have generally declined, indicating that investors may prefer to deploy in the spot market. If ICX can take advantage of this to improve spot liquidity, it will be easier to attract speculative capital in this cycle.

X has launched the Cashtags feature on iPhone in the US and Canada, providing users with real-time financial data for stocks and cryptocurrencies. Users can search or post content with Cashtags or contract addresses to see matched assets and price charts without leaving the app. X is piloting integration with Canadian broker Wealthsimple, allowing in-app trading. Plans include expanding Cashtags to web, Android, and global markets.

X launches Cashtags feature in the US and Canada, providing real-time financial data including cryptocurrencies, and pilots integrated trading with brokerages.

ICON

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.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

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

Fed's Daly: Rates May Remain Unchanged

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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