XDC is currently at a pivotal stage where institutional entry is driving long-term value accumulation, intertwined with market risk preference fluctuations. Institutional nodes (such as HashKey Cloud) have increased their validation responsibility, significantly boosting the network's compliance and governance resilience, which provides central support for real-world adoption in asset tokenization and cross-border financial scenarios. However, due to the volatility of mainstream crypto assets and derivative market sentiment, XDC remains in a short-term consolidation zone between $0.0290 and $0.0320, lacking price-volume resonance signals. Strategically, it is recommended to focus on the momentum and capital flow accompanying a range breakout. If XDC breaks above the $0.0320 resistance with strong volume, a new wave of recovery may unfold; conversely, breaking below the $0.0290 support requires caution for trend reversal risk. Overall, consider focusing on institutional ecosystem nodes for mid- and long-term allocation, employ high-sell/low-buy strategies in the short term, and flexibly utilize risk-hedging tools.

Recently, the XDC network welcomed HashKey Cloud as a new institutional-level validator node, participating in transaction verification, ledger maintenance, and network governance. This move not only enhances XDC's compliance and security in enterprise trade finance and asset tokenization scenarios, but also increases the ecosystem’s attractiveness for large institutional users, laying a foundation for long-term stability and expansion. As more institutions participate in node operations, XDC’s trustworthiness and governance stability are expected to improve, further promoting its adoption in cross-border payments and supply chain finance.

Volatility in mainstream assets such as Bitcoin and divergences in the derivatives market have caused repeated changes in overall risk appetite. Perpetual contract funding rates have oscillated between positive and negative, reflecting cautious market sentiment, with investors favoring short-term profit-taking or defensive hedging. Against this backdrop, XDC’s risk premium is under pressure, with its price narrowly oscillating within the $0.029–$0.032 range, lacking clear direction. In the short term, only significant improvements in macro liquidity or risk appetite for leading assets could drive XDC to transition between overbought and oversold sentiment patterns.

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.

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.

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.

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.

On the daily chart, XDC has persistently consolidated between the $0.0290 support and $0.0320 resistance over the past month, with the moving average system moving in parallel, showing no clear bullish or bearish trend. Trading volume has not seen cyclical expansion, indicating balanced contention between buyers and sellers at current price levels. If trading volume suddenly surges and the closing price remains above resistance, it would confirm bullish takeover; conversely, a drop below $0.0290 may increase selling pressure, triggering a new downward move. Traders should pay close attention to these moving averages and the effectiveness of the aforementioned range boundaries.

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.

This article systematically analyzes the current crypto market downturn from the perspectives of the macro environment, institutional behavior, market structure, and industry trends. Combining Huobi HTX research insights, it offers forward-looking views on potential future turning points and long-term trends, aiming to provide market participants with a more structured framework for judgment.

Slump or Opportunity? The Crypto Market Enters a "Repricing Moment": The Macro Logic Behind the Slump, Structural Transformation, and Future Turning Points

XDC Network

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

Washington prosecutors announce halt to investigation into Powell; market expectations for Fed rate cuts this year further intensify

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XDC price today is 0.03, with a live price change of 3.75 in the last 24 hours. Convert, buy, sell and trade XDC on Bybit-eu.

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