Recently, DGB has been affected by fluctuations in international risk appetite, repeatedly testing the key support zone at 0.00415–0.00420, and remains in a short-term descending channel. Although sentiment towards Bitcoin spot has improved, the derivatives capital flows have not kept pace, so the risk of a secondary pullback cannot be ignored. Strategically, it is recommended to take small long positions only around 0.00415, with a strict stop-loss set below 0.00410. If a breakout above 0.00430 occurs with increased volume, the short-term target would be the resistance area of 0.00450–0.00460. Overall, caution is advised and short-term speculative trading should be prioritized.

Recently, expectations of escalating conflicts in international markets have eased, pushing traditional asset indices to stage highs, and funds with revived risk appetite have flowed into crypto assets. During this window, DGB has seen frequent small rises on the daily chart, with prices surging from around 0.00465 to the 0.00470 area and bullish sentiment receiving short-lived support. Although trading volume has increased slightly compared to before, there has not been an explosive surge, indicating that capital is entering tentatively. Further attention should be given to subsequent volume coordination.

The S&P 500 index reached a historic intraday high on Wednesday, marking its first peak since the outbreak of the Iran war. Investor optimism about easing conflict tensions and strong earnings forecasts has driven a return to risk assets. Despite ongoing geopolitical crises, market risk pricing has shifted, with traders factoring in lower short-term escalation risks. Since the conflict began on February 28, the index fell up to 9% but did not meet criteria for a technical correction.

The S&P 500 index hit a record high, signaling a shift in market risk pricing.

After traditional markets showed weakening signals, the crypto sector followed with a correction. DGB experienced an obvious decline during this period of lower risk appetite, posting relatively long bearish daily candlesticks and accompanied by decreasing trading volume, indicating a rapid cooling of buying interest. Prices dropped all the way from the 0.00445 region down to 0.00426, with clear short-term selling pressure and strong efforts by bears to test market support.

The S&P 500 index has turned downward, indicating a weakening market sentiment, according to ChainCatcher and Jin10 reports.

The S&P 500 index turned downward, and market sentiment weakened.

Spot buying in Bitcoin has pushed prices up to nearly the 75,000 level in recent days, but the derivatives market remains cautious, with perpetual contract funding rates staying negative and no clear increase in positions. In addition, long positions are decreasing and demand for downside protection in the options market persists, suggesting a technical rebound rather than a reversal of the trend. Moreover, the ongoing ETF inflows have strengthened long-term confidence, and improved spot P&L ratios help support longer-term crypto asset valuations. Given DGB’s high correlation with Bitcoin, it may see a modest recovery in the short term riding spot price rises, but beware of secondary declines if derivatives sentiment does not improve.

Bitcoin rose to around $74,935 during the Asian session, up 0.7% in 24 hours and 5.4% weekly, driven mainly by spot buying rather than broad risk appetite. Derivatives markets show caution: perpetual contract funding rates remain negative, open interest declines, and options indicate higher demand for downside protection. This suggests a rebound, not a trend reversal, amid ongoing risk aversion and cautious sentiment despite gains.

Analysis: Bitcoin strengthens along with US stocks, but the options market still bets on downside risk.

Glassnode's latest report highlights intensified market tug-of-war with spot CVD turning negative, indicating increased selling pressure and emerging bearish sentiment. Futures show rising risk appetite but declining long funding rates, reflecting growing bearishness. Options suggest reduced downside protection demand and neutralizing volatility. Meanwhile, US spot ETFs see rising MVRV and inflows, boosting investor interest and supporting cautious optimism amid stable long-term holder confidence.

Glassnode: Market bullish and bearish struggles intensify, spot CVD turns negative indicating increased selling pressure, but ETF inflows provide support.

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.

From a daily chart perspective, DGB has been in a descending channel for multiple days, with key support concentrated in the 0.00415–0.00420 region. After multiple bottoms and rebounds, it has not decisively broken below this zone. If it does break down, price could extend to the 0.00400 range; conversely, if risk appetite recovers and price climbs above 0.00430 with increased volume, it can be seen as confirmation of a short-term rebound. Small long positions can be considered near the support zone, with stop-loss set below 0.00410 and targets focused on the 0.00450–0.00460 resistance area.

DigiByte

BoE: MPC Maintains a Cautious Stance – Rabobank

Euro-zone inflation probably jumped in April to the highest in 2 1/2 years as fallout from the Iran war squeezed economies across the currency area

USD/JPY: Supported but capped below 160 – DBS

The U.S. Attorney for Washington, D.C.: Will stop the investigation into Powell's Federal Reserve building costs.

The final value of the one-year inflation rate expectation in the US for April is 4.7%.

Bank of Canada to hold interest rates this year, show patience with energy inflation: Reuters poll

ECB: Rate hike call pushed to June – Rabobank

Economists raised their estimates for US inflation and said they expect only one Federal Reserve interest-rate cut this year amid elevated energy costs sparked by the Iran war.

The central bank and eight other departments: Prohibit providing online marketing services for virtual currency issuance and trading.

USD: Cautious tone into weekend – ING

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