With the current loose macro liquidity and the collective recovery of risk assets, mainstream funds continue to flow back into the crypto market, resulting in OPEN breaking through key resistance levels on increased volume. The structural bull market features are apparent. The daily structure shows rising highs and lows, with short-term support located in the $0.20–$0.205 range. If a technical pullback occurs with reduced volume and stabilizes, gradual accumulation is advised, paying attention to the momentum and volume when subsequently challenging the $0.24 resistance zone. The overall judgment is a strong bullish trend; the strategy should focus on buying the dips on pullbacks and dynamically taking profits.

Recently, the Ethereum-to-Bitcoin price ratio returned to a three-month high, while both Ethereum network users and transaction volumes saw significant year-on-year growth, indicating a notable recovery in overall crypto market demand. Bitcoin continuously surpassed $74,000 and briefly touched above $75,000, with bullish capital mainly coming from spot buying rather than derivative speculation, reflecting renewed institutional and large-holder confidence. In addition, risk assets such as oil, precious metals, and tech stocks collectively rose amid eased geopolitical tensions and expectations of an accommodative policy, providing a favorable external liquidity environment for crypto assets.

In Q1 2026, the Ethereum to Bitcoin price ratio (ETH/BTC) rebounded to 0.0313, a three-month high, indicating a recovery in the crypto market. Ethereum network users grew 82% year-on-year to 284,000, with transaction volume reaching 200.4 million. Stablecoin supply exceeded $180 billion, about 60% of the global market. Analysts suggest that if ETH/BTC closes above 0.035 weekly, it signals continued inflows into Ethereum and high-risk assets. Bitcoin remains above $74,000, supported by over $56 billion inflows into US spot Bitcoin ETFs.

Analysis: Ethereum-Bitcoin price ratio rebounds, overall crypto market recovers

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.

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

On-chain data shows that small ETH holders began concentrated reduction of positions after a short-term rise, which was generally perceived by the market as a bull trap, further attracting buyers chasing the rally. This clearing of supply actually weakens selling pressure above, enhancing the continuation probability for major assets. Meanwhile, the US tech sector leads gains, with the Nasdaq and S&P hitting new highs, simultaneously boosting risk appetite towards digital currencies. As overall trading volume steadily expands, market sentiment has shifted from cautious to optimistic in the short term, creating a favorable environment for mid-cap and emerging tokens.

Santiment reported that amid recent market gains, small retail investors are selling significant amounts of Ethereum, with wallets holding 0.01 ETH or less reducing by 1,791 ETH (worth $4.16 million) in two days. The public perceives the 17% rise since March 29 as a bull trap, which ironically may strengthen the likelihood of the ongoing bullish momentum continuing.

Santiment: The general market believes the recent rise is a bull trap, but the bullish momentum may continue.

Tech stocks surged, driving the Nasdaq and S&P 500 to record highs amid optimism over easing US-Iran tensions. The Nasdaq rose 1.59% to 24,016.02, and the S&P 500 increased 0.8% to 7,022.95. Bitcoin briefly hit $75,229, up 1.07% in 24 hours and nearly 10% over two weeks. Fundstrat's Tom Lee suggests the next rally may be led by Bitcoin, Ether, and tech stocks.

Analysis: Tech stocks rally drives US stocks to new highs, Bitcoin hits $75,000

Since mid-March, OPEN has steadily climbed from around $0.15 to $0.2326 on April 17, gaining over 50% in aggregate. Since April 14, the price has successively broken through the $0.2175 resistance area on increasing volume, with bullish momentum significantly strengthened. On the daily chart, a series of rising highs and lows is maintained, with short-term support seen at the $0.20 round-number level and around the early April consolidation zone at $0.2050. If a technical pullback occurs with decreased volume, lower support may attract buying interest, and further attempts at the $0.24 resistance level should be watched in the coming sessions.

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.

OpenLedger

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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OpenLedger Price: OPEN Live Price Today | OPEN Market Cap & Chart Analysis | Bybit-eu

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