After a large-scale unlock, SPK's short-term selling pressure has been priced in by the market ahead of time. The current sentiment is neutral to bullish. Coupled with a recovery in macro risk appetite and a strong breakout in Bitcoin, SPK has completed a V-shaped rebound, with its daily chart structure repaired. In terms of operation, if SPK continues to hold above $0.0243 with increased volume, the upward target is $0.025. If it fails and falls below $0.0225, caution is advised for a pullback to the $0.021 support zone. The main strategy is to buy low and sell high within the range, paying close attention to volume changes and the direction of mainstream coins.

At around midnight on April 17, approximately 27.891 million SPK tokens were unlocked, equivalent to $5.58 million entering the market. Based on the daily K-line, SPK not only avoided significant selling pressure on the unlock day but actually surged, closing up by about 3% with noticeably increased trading volume. This indicates the market had fully anticipated the liquidity from this batch of unlocks, and the selling pressure was absorbed ahead of time, turning short-term sentiment to neutral-to-bullish. If subsequent unlocks match market volume, selling risk will remain controllable.

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.

Amid easing geopolitical tensions and a hawkish stance from the Fed, risk appetite has overall warmed up. Bitcoin and Ethereum rebounded first, lifting market sentiment. After Bitcoin broke through its four-week high and crossed the crucial $75,000 level, the negative gamma effect in derivatives is expected to boost momentum release and heighten short-term volatility. Similarly, the oversold sentiment that persisted throughout the four weeks saw release in the $75,000–$78,000 range, and the market soon found support for another rally. As a small-to-mid cap token, SPK is highly sensitive to broader market swings and recently has closely mirrored Bitcoin’s technical rebound.

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 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

The daily chart shows that since SPK hit the low of $0.0199 on April 9, it began a V-shaped reversal, closing at $0.0237 on April 17 and returning to the $0.023–$0.024 resistance zone. Trading volume expanded in tandem, and short-term moving averages formed a bullish crossover, signifying restored upward momentum. If it continues to break $0.0243 with volume, it is likely to challenge the $0.025 psychological threshold. Conversely, if it stalls and falls below the nearby short-term support at $0.0225, bullish confidence will be tested, potentially prompting a pullback to around $0.021 for consolidating strength.

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.

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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Spark Price: SPK Live Price Today | SPK Market Cap & Chart Analysis | Bybit-eu

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SPK price today is 0.02, with a live price change of 2.67 in the last 24 hours. Convert, buy, sell and trade SPK on Bybit-eu.

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