Driven by the rebound in macro risk appetite, MERL initiated a bounce from the 0.030 mark and formed a bullish breakout, with short-term upward movement and expanded trading volume validated by the performance of mainstream assets. However, caution is required regarding the Federal Reserve's hawkish stance and high energy prices, which may potentially suppress liquidity, showing signs of short-term exhaustion in market momentum. It is recommended to monitor the effectiveness of support in the 0.0335-0.035 range; if MERL can consolidate on pullback with incremental buying, the rebound may continue, otherwise it faces pressure for a second round of adjustment. Operate flexibly, closely watch macro policy and mainstream coin performance, and control position risk.

Recently, easing geopolitical tensions have boosted the sentiment for risk assets overall, especially as US stocks saw a catch-up rally amid reduced hedging pressure, driving Bitcoin and Ethereum up synchronously. In this macro backdrop, MERL gradually emerged from a bottom-side consolidation since April 14, reclaiming the 0.030 mark, showing a classic bullish initiation signal. However, the Fed's sustained hawkish stance implies that medium- to long-term liquidity expansion may be limited, and persistently high oil prices could push inflation expectations higher, bringing new volatility to the crypto market. At this stage, vigilance is needed for the timing of macro policy implementation and energy price swings, which could deal a secondary blow to market sentiment; trend continuation awaits further clarity on liquidity direction.

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

Bitcoin has recently climbed above $75,000 again and is approaching the $78,000 resistance; institutional whale accounts are continuously adding positions, delivering a strong market confidence transmission effect. Driven by this, MERL experienced consecutive days of surging volume from April 15 to 16, with trading volumes more than doubling compared to previous averages and the daily candle showing clear bullish momentum, validating active bulls. On April 17, the intraday showed an upper shadow alongside declining volume, indicating some exhaustion in short-term upward momentum. Considering daily chart support, the previous high near 0.035 and the 20-day moving average around 0.0335 will be primary support areas. If subsequent pullback is effectively consolidated with buying support, MERL may continue to challenge higher resistance; if broken, be alert for the risk of a second adjustment driven by overall market sentiment retreat.

Merlin Chain

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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Live chart for Merlin Chain to USD conversion. Check out MERL to USD prices in real time. Convert, buy, sell, and trade Merlin Chain on Bybit-eu.

Merlin Chain Price: MERL Live Price Today | MERL Market Cap & Chart Analysis | Bybit-eu

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MERL price today is 0.04, with a live price change of -6.74 in the last 24 hours. Convert, buy, sell and trade MERL on Bybit-eu.

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