Key takeaways: 

SUI is up 23% in the past 24 hours and 73% weekly, outperforming top-cap cryptocurrencies.

The launch of the Grayscale SUI Trust and the xPortal/xMoney Mastercard partnership boosted investor confidence.

SUI’s TVL is up 40%, and daily DEX volumes surge by 177%, signaling strong ecosystem trust and utility.

Sui (SUI) price was up 23% in one day, to trade at $3.67 on April 25. This is part of a prevailing rebound that began on April 21 and has seen Sui rise more than 73% over the last seven days.

Data from Cointelegraph Markets Pro and TradingView shows SUI rose from a low of $2.11 on April 21, climbing as much as 77% to an intraday high of $3.71 on April 25.

SUI/USD daily chart. Source: Cointelegraph/TradingView

SUI’s performance over the last seven days made it the biggest gainer among the top 100 cryptocurrencies by market cap.

Top gainers April 25. Source: CoinMarketCap

SUI price buoyed by positive fundamentals

SUI’s gains are primarily fueled by increasing investor confidence following the Grayscale SUI Trust launch and SUI’s strategic partnership with xPortal and xMoney to issue a virtual Mastercard across Europe.

“SUI’s officially out of stealth mode,” said pseudonymous analyst Kyledoops in an April 24 post on X.

“Grayscale just launched a trust, social chatter is exploding, and it’s [SUI] now sitting above AVAX and LINK in market cap,” Kyledoops expressed, adding:

“This isn’t just retail hype—Wall Street is stepping into the SUI zone. Momentum feels different this time. It’s real. And it’s accelerating.”

On April 23, Grayscale launched the Grayscale SUI Trust, which enables investors to gain exposure to SUI. The trust is now open to all eligible accredited investors.

Source: Grayscale

Adding to the tailwinds is SUI’s latest partnership with xPortal and xMone, which introduced a virtual Mastercard, enabling 2.5 million European users to spend the token at over 20,000 merchants via Apple Pay and Google Pay.

Source: Sui Network

Sui’s growing DeFi ecosystem

Sui remains among the top 10 layer-1 blockchains, with over $1.65 billion in total value locked (TVL) on the network. The chart below shows that the SUI’s TVL has increased about 40% over the last seven days.

Sui network: TVL and daily DEX volumes. Source: DefiLlama

Compared to other top-layer networks, SUI is well ahead of its rivals in terms of TVL gains on the daily, weekly and monthly time frames, as shown in the chart below.

Comparison of TVL performance on top layer-1 blockchains. Source: DefiLlama

SUI’s daily DEX volumes have risen by more than 177% over the last week, to $599 million. This is significantly higher than the 68% and 67% increases on BNB Chain and Solana, respectively.

Related: Price predictions 4/23: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, AVAX, SUI

Although Ethereum remains the undisputed leader at $10.6 billion, this has declined by more than 14% over the last seven days.

Are new all-time highs coming for SUI?

From a technical perspective, SUI price gained momentum after breaking out of a falling wedge pattern, as shown on the daily chart below.

After breaching a multimonth resistance trendline near $2.20, SUI reached the wedge’s technical target at $3.30. 

Bulls are now focused on all-time highs of $5.35, reached on Jan. 6.

SUI/USD daily chart. Source: Cointelegraph/TradingView

The relative strength index (RSI) has increased from 45 to 78 since April 20, reinforcing the strength of the bullish momentum.

However, to sustain the ongoing recovery, SUI price has to first overcome the resistance between $4.50 and $5.10, before going into price discovery.

Based on Elliott Wave analysis of the weekly chart, pseudonymous analyst Bitcoinsensus set a “massive” price target of $11.50 for SUI.

Source: Bitcoinsensus

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Central banks, particularly China, may start to shift away from US Treasurys, exploring alternatives such as gold and Bitcoin, according to Jay Jacobs, BlackRock’s head of thematics and active ETFs.

In a recent interview with CNBC, Jacobs said that geopolitical tensions and rising global uncertainty are accelerating diversification strategies among central banks.

He pointed to a long-term trend where countries have been reducing their reliance on dollar-based reserves in favor of assets like gold and, increasingly, Bitcoin (BTC).

“This whole diversification away from traditional assets and into things like gold and also crypto […] probably began three, four years ago,” Jacobs explained.

He said that recent geopolitical fragmentation has intensified the push toward alternative stores of value.

Jacobs referenced growing concerns about the freezing of $300 billion in Russian central bank assets following its invasion of Ukraine, suggesting that such events have prompted countries like China to rethink their reserve strategies.

BlackRock executive Jay Jacobs on CNBC. Source: YouTube

Related: Crypto, stocks enter ‘new phase of trade war’ as US-China tensions rise

Geopolitical fragmentation to shape global markets

During the interview, Jacobs said BlackRock, the world’s largest asset manager, has identified geopolitical fragmentation as a defining force for global markets over the coming decades:

“We really identified geopolitical fragmentation as a mega force that is driving the world forward over the next several decades.”

He noted that this environment is fueling demand for uncorrelated assets, with Bitcoin increasingly viewed alongside gold as a safe-haven asset.

“We’ve seen significant inflows into gold ETFs. We’ve seen significant inflows into Bitcoin. And this is all because people are looking for those assets that will behave differently,” Jacobs said.

Related: Bitcoin ‘decouples,’ stocks lose $3.5T amid Trump tariff war and Fed warning of ‘higher inflation’

Investors highlight Bitcoin decoupling

Notably, Jacobs is not alone in stressing Bitcoin’s declining correlation with US equities. Several analysts have also observed that Bitcoin is beginning to decouple from the US stock market.

On April 22, Alex Svanevik, co-founder and CEO of the Nansen crypto intelligence platform, said Bitcoin’s price is showcasing its growing maturity as a global asset, becoming “less Nasdaq — more gold.”

He added that Bitcoin was “surprisingly resilient” amid the trade war compared to altcoins and indexes like the S&P 500, but remains vulnerable to economic recession concerns.

Source: Alex Svanevik

Echoing this sentiment, QCP Capital said in an April 21 Telegram note that Bitcoin seemed to be sharing some of gold’s limelight as a hedge against macroeconomic uncertainty.

“With equities finishing last week in the red and extending an April drawdown, the narrative of BTC as a safe haven or inflation hedge is once again gaining traction. Should this dynamic hold, it could provide a fresh tailwind for institutional BTC allocation,” it wrote.

Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

Key Takeaways:

BTC liquidation levels, onchain data, and chart setups converge at the $100K target.

Profitability has surged, suggesting a rebound in market confidence.

BTC breakout patterns point to $100K as a short-squeeze and euphoria magnet.

Bitcoin (BTC) is flashing multiple technical and onchain signals suggesting that a rally to $100,000 is possible by May. Here are five charts making the case for a near-term breakout.

BTC double-bottom hints at $100,600 target

BTC’s daily chart has formed a textbook double bottom, confirming a breakout above the neckline resistance at $87,643. The structure projects a measured move to $100,575 or above.

BTC/USD daily price chart. Source: TradingView

Momentum indicators like the relative strength index (RSI) support this thesis, staying in bullish territory with more room to expand. Meanwhile, the 50- and 200-day exponential moving averages (EMAs) have flipped into support, offering additional tailwinds.

Volume has remained steady post-breakout, showing that buyers are still in control. This setup creates a strong foundation for Bitcoin to push toward $100,600.

Bull pennant setup eyes six-figure BTC price

On the hourly timeframe, BTC consolidates inside a bull pennant following a sharp rally. This pattern indicates temporary indecision before the next leg higher. The target sits near $100,900.

BTC/USD hourly price chart. Source: TradingView

The pennant formed after a steep rise, suggesting that BTC price is likely coiling before resuming its up move. Despite the low volume, the structure remains intact and is supported by strong EMA alignment.

A breakout above the pennant’s upper trendline could trigger fresh upside momentum, attracting short-term traders and algorithms targeting round-number breakouts.

Bitcoin’s falling wedge breakout targets $102,000

The three-day chart shows a completed falling wedge breakout, with the price breaking a key resistance zone near $94,000. The projected move targets $102,270.

BTC/USD three-day price chart. Source: TradingView

Falling wedges are typically bullish reversal patterns, and BTC’s clean breakout above the upper trendline adds technical conviction. Price is also riding above the 50-3D EMA, a key trend signal.

Volume surged during the breakout, suggesting strong buyer conviction.

The $94,000-95,000 resistance is now capping Bitcoin’s upside attempts. Breaking it means BTC could deliver its complete measured move toward $100,000 quickly.

Binance heatmap shows liquidity magnet at $100K

Liquidation data reveals a thick cluster of short liquidations around the $100,000 level. These positions often act like a magnet, pulling the price toward them as market makers hunt for liquidity.

BTC/USDT three-month liquidation heatmap. Source: CoinGlass

If BTC continues climbing, it will pressure short sellers who may be forced to exit, triggering a cascade of buy orders.

Related: $635M liquidated in 24H as trader predicts $100K Bitcoin short squeeze

Liquidity maps often front-run price. With such dense activity near six figures, the path of least resistance appears upward in the near term.

Bitcoin profitability increases post-breakout

As of April 23, 87.3% of Bitcoin’s circulating supply was in profit, up from 82.7% when BTC last traded near $94,000 in early March, according to Glassnode data.

The increase indicates that a significant portion of the Bitcoin supply changed hands at lower levels during the March correction, reflecting a fresh wave of accumulation.

BTC percent supply in profit. Source: Glassnode

Historically, when the Percent Supply in Profit remains above 90% for an extended period, markets tend to enter a euphoric phase. With profitability now nearing that threshold, bullish sentiment continues to build.

Combined with bullish chart structures and concentrated short liquidity overhead, BTC remains positioned for a potential move toward $100,000 by May.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.