Coin Market

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

Published

2 weeks ago

April 23, 2025

Key points:

Bitcoin’s rally is backed by solid institutional buying in the spot BTC ETFs.

A rally above the $95,000 level could be difficult, but analysts’ end-of-year price projections now extend to $200,000.

Select altcoins are showing signs of a price bottom.

Bitcoin (BTC) price rallied close to the $95,000 resistance level on April 23 as the cryptocurrency finds support from rising spot BTC ETF inflows and positive macroeconomic news in the United States. According to Farside Investors, the funds recorded net inflows of $381.3 million on April 21 and $912.7 million on April 22.

Analysts from Standard Chartered and Intellectia AI said that institutional demand for Bitcoin ETFs and BTC’s use as a hedge against macroeconomic risk could propel the price to $200,000 in 2025.

Crypto market data daily view. Source: Coin360

Not everyone is convinced about the current rally. 10x Research head of research Markus Thielen questioned the sustainability of the Bitcoin rally in an April 23 markets report, as the stablecoin minting indicator was “yet to return to high-activity levels.”

Could Bitcoin break above the $95,000 mark, pulling altcoins higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin formed a Doji candlestick pattern on April 23, indicating indecision between the bulls and the bears near the $95,000 overhead resistance.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day exponential moving average ($85,773) has started to turn up, and the relative strength index (RSI) is near the overbought zone, suggesting that the path of least resistance is to the upside. If buyers do not cede much ground to the bears, it enhances the prospects of a rally above $95,000. The BTC/USDT pair may then skyrocket to $100,000 and subsequently to $107,000.

This positive view will be invalidated in the near term if the price turns down sharply from $95,000 and plunges below the moving averages.

Ether price prediction

Ether (ETH) turned up sharply on April 22 and rose above the 20-day EMA ($1,676). Buyers will try to retain the advantage by pushing the price above the 50-day SMA ($1,830) on April 23.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

If they succeed, the ETH/USDT pair could jump to the breakdown level of $2,111. Sellers will try to stall the recovery at $2,111, but if the bulls prevail, the pair could soar to $2,550. Such a move suggests that the corrective phase may be over.

Conversely, if the price turns down sharply from $2,111, it indicates that the bears are active at higher levels. That could keep the pair range-bound between $2,111 and $1,368 for a while longer.

XRP price prediction

XRP (XRP) rose above the 50-day SMA ($2.20), but the long wick on the candlestick shows selling at higher levels.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The bears are expected to defend the resistance line with all their might because a break and close above it signals a potential trend change. The XRP/USDT pair could then attempt a rally to $3.

On the contrary, if the price turns down and breaks below the moving averages, it signals that bears remain in command. The pair may then retest the $2 support, which is likely to attract buyers.

BNB price prediction

BNB (BNB) broke out of the downtrend line on April 21, but higher levels are attracting solid selling by the bears.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The BNB/USDT pair could drop to the moving averages, an important near-term support to watch out for. If the price rebounds off the moving averages with strength, the prospects of a rally to $644 and thereafter to $680 increase.

Alternatively, a break and close below the moving averages indicates that the breakout above the downtrend line may have been a bull trap. The pair then risks falling to $566.

Solana price prediction

Solana (SOL) rebounded off the 20-day EMA ($133) on April 22 and is attempting to climb above the overhead resistance at $153 on April 23.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA is sloping up, and the RSI is in the positive territory, indicating an advantage to buyers. A close above $153 clears the path for a rally to $180. Such a move brings the large $110 to $260 range into play.

Time is running out for the bears. If they want to make a comeback, they will have to swiftly pull the price below the moving averages. If they do that, the SOL/USDT pair could plunge to the $120 to $110 support zone.

Dogecoin price prediction

Dogecoin (DOGE) broke above the moving averages on April 22, indicating that the bulls are on a comeback.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

The price could rally to the overhead resistance at $0.21, where the bears are expected to step in. If the price turns down from $0.21 and breaks below the moving averages, it signals a range-bound action in the near term. The DOGE/USDT pair could swing between $0.21 and $0.14 for some time.

Contrarily, a break and close above $0.21 completes a double-bottom pattern. The pair could then rally toward its target objective of $0.28.

Cardano price prediction

Buyers pushed Cardano (ADA) above the 20-day EMA ($0.64) on April 22 and are trying to sustain the price above the 50-day SMA ($0.68) on April 23.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA is flattish, but the RSI has jumped into positive territory, indicating that the momentum has turned positive. A close above the 50-day SMA opens the gates for a rally to $0.83.

Buyers are expected to defend the zone between the 20-day EMA and $0.58 on the downside. Sellers will be back in the driver’s seat if they sink the ADA/USDT pair below $0.58. The pair may then slump to $0.50.

Chainlink price prediction

Chainlink (LINK) turned up from the 20-day EMA ($13.16) and rose above the 50-day SMA ($13.62) on April 22.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

The LINK/USDT pair could rise to $16, where the bears may mount a strong defense. If buyers do not allow the price to dip back below the 20-day EMA, it improves the prospects of a rally to the resistance line of the descending channel pattern. A trend change will be signaled on a break above the channel.

The 20-day EMA is the crucial support to watch out for on the downside. A dive below the 20-day EMA opens the doors for a fall to $11.89 and later to the support line.

Avalanche price prediction

Avalanche (AVAX) broke out of the downtrend line on April 22, indicating that the bears are losing their grip.

AVAX/USDT daily chart. Source: Cointelegraph/TradingView

The bears will try to halt the recovery at $23.50 because if they fail in their endeavor, the AVAX/USDT pair will complete a double-bottom pattern. This bullish setup has a target objective of $31.73.

If the price turns down from $23.50, the bulls will try to buy the dips to the 20-day EMA ($19.72). A bounce off the 20-day EMA increases the likelihood of a break above $23.50. Contrarily, a break below the moving averages signals a range formation between $15.27 and $23.50.

Sui price prediction

Sui (SUI) soared above the moving averages on April 22 and the overhead resistance at $2.86 on April 23.

SUI/USDT daily chart. Source: Cointelegraph/TradingView

The long wick on the candlestick shows selling above $2.86, but if the bulls do not give up much ground, the possibility of a break above the overhead resistance increases. That could propel the SUI/USDT pair to $3.25 and then to $3.50.

The 20-day EMA ($2.29) is expected to act as strong support on any pullback. A break and close below the 20-day EMA suggests the bullish momentum has weakened. That could result in a range formation in the near term.

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.

Coin Market

OpenAI to stay nonprofit, scrap proposed overhaul

Published

3 hours ago

May 5, 2025

ChatGPT-maker OpenAI has abandoned plans to become a for-profit company and reaffirmed commitment to its nonprofit status.

In a May 5 blog post, OpenAI confirmed plans to convert its for-profit business unit into a so-called Public Benefit Corporation (PBC), which would remain under the nonprofit’s control. PBCs are for-profit companies that are legally obligated to prioritize a social mission alongside the interests of shareholders.

The plans mark a reversal for OpenAI, which had previously floated a for-profit conversion involving spinning out the nonprofit entity.

“OpenAI was founded as a nonprofit, and is today overseen and controlled by that nonprofit. Going forward, it will continue to be overseen and controlled by that nonprofit,” the ChatGPT-maker said.

This can be done without compromising OpenAI’s ability to raise funds for AI development, which “currently requires hundreds of billions of dollars and may eventually require trillions of dollars,” OpenAI’s CEO, Sam Altman, said in a letter to employees announcing the decision.

In 2024, OpenAI took a starkly different view, asserting that the for-profit entity was “necessary” for raising capital to amass the “vast quantities of compute” needed to run AI models.

OpenAI’s May 5 governance announcement. Source: OpenAI

Controversial Plans

OpenAI was originally founded as a nonprofit in 2015, and in 2019 it created a for-profit entity purportedly to help AI developers raise funds. The for-profit unit has remained under the nonprofit’s control since then.

In 2024, Tesla CEO Elon Musk — one of OpenAI’s cofounders — sued Altman for allegedly “violating terms of Musk’s foundational contributions to the charity,” according to a November court filing.

In the lawsuit, Musk alleges Altman “assiduously manipulated Musk into co-founding their spurious nonprofit venture, OpenAI,” while secretly planning to convert OpenAI to a for-profit entity.

Musk has since launched xAI, the developer of AI chatbot Grok, which he said has fallen victim to OpenAI’s allegedly anti-competitive practices.

OpenAI’s leadership expects its revenue to hit $29.4 billion by 2026, Bloomberg reported in March. It forecasts earning revenues of $12.7 billion in 2025.

In March, OpenAI raised $40 billion from Softbank at a $300 billion valuation.

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Coin Market

New York district gets interim US Attorney as ex-SafeMoon CEO trial kicks off

Published

3 hours ago

May 5, 2025

Acting US Attorney for the Eastern District of New York (EDNY) John Durham has departed as President Donald Trump’s pick takes control of the office.

In a May 5 notice, the US Attorney’s Office for EDNY said Joseph Nocella will serve as interim US Attorney for the region for 120 days or until a Senate-confirmed nominee assumes the role. Nocella’s appointment came as jury selection began in the criminal trial of Braden John Karony, the former CEO of crypto firm SafeMoon.

It’s unclear how the advancement of Nocella, appointed by US President Donald Trump this month, could affect prosecutors’ case against Karony, who faces charges of securities fraud conspiracy, wire fraud conspiracy, and money laundering conspiracy. Nocella said he intended to help prosecute “narcotics-traffickers, gang members, terrorists, human-traffickers and other criminals.”

The former SafeMoon CEO asked the court in February to consider pushing back the start of the trial based on “significant changes” Trump had proposed affecting US securities laws, potentially impacting his criminal case.

Though not as well known for criminal cases involving high-profile figures in the crypto industry, the Eastern District of New York has been responsible for overseeing cases against individuals tied to digital assets, including a Securities and Exchange Commission (SEC) complaint against Hex founder Richard Heart and fraudsters.

Its neighboring district, the Southern District of New York, will oversee the sentencing of former Celsius CEO Alex Mashinsky on May 8. Jay Clayton, a Wall Street insider and the former chair of the SEC, became the interim US Attorney for the district in April.

Criminal trial to start on May 6

SafeMoon’s Karony, Kyle Nagy, and Thomas Smith were charged in November 2023 for “diverted and misappropriated millions of dollars’ worth” of the platform’s SFM token between 2021 and 2022. Karony has pleaded not guilty to all charges and has been free on a $3 million bond since February 2024.

In a May 5 filing, Karony agreed to have jury selection for his trial proceed under US Magistrate Judge James Cho. District Judge Eric Komitee is expected to oversee the trial starting on May 6.

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Coin Market

Bitcoin sell-off to $93.5K is a brief hiccup — Data still supports new BTC highs in 2025

Published

4 hours ago

May 5, 2025

Key takeaways:

Bitcoin price slips, but BTC dominance is on the rise.

Sizable purchases by Strategy and the spot BTC ETFs highlight institutional investors’ appetite for Bitcoin.

Bitcoin’s (BTC) price has dropped by 4.3% in the last three days after nearly reaching $97,900 on May 2. Despite showing resilience at the $94,000 level on May 5, some traders are disappointed that strong institutional inflows have not been enough to maintain bullish momentum. However, several encouraging signs suggest that a new all-time high for Bitcoin in 2025 remains within reach.

Bitcoin market share excluding stablecoins. Source: TradingView / Cointelegraph

Bitcoin’s dominance over the broader cryptocurrency market has surged, currently standing at 70%, its highest since January 2021. This has occurred despite a wave of new token launches, including several top-50 projects such as SUI, Toncoin (TON), PI, Official Trump (TRUMP), Bittensor (TAO), Ethena (ENA), and Celestia (TIA). This dominance makes riskier altcoins less appealing to new market entrants.

The spot Bitcoin ETFs recorded $4.5 billion in net inflows between April 22 and May 2. At the same time, the increasing appetite for Bitcoin futures signals growing institutional adoption regardless of whether leverage is used for downside protection or bullish bets.

Bitcoin futures aggregate open interest, BTC. Source: CoinGlass

According to CoinGlass, the total open interest in Bitcoin futures markets has reached 669,090 BTC, a 21% increase since March 5. Even after Bitcoin’s price crashed below $75,000 in early April, demand for leveraged positions remained strong. The open interest in BTC futures on the Chicago Mercantile Exchange (CME) alone exceeds $13.5 billion, indicating robust institutional demand.

Several factors explain why Bitcoin has struggled to reclaim the $100,000 level. Traders who bought in anticipation of the US Strategic Bitcoin Reserve bill on March 6 are growing increasingly frustrated, as the government has yet to disclose its BTC holdings or announce plans for further purchases. Additionally, similar state-level Bitcoin bills have repeatedly failed, including the latest setback in the US state of Arizona.

Strategy doubles its plans for BTC acquisitions despite the global trade war

Over the past three months, gold has outperformed most assets, rising 16%, while Bitcoin has declined by 5% and the S&P 500 has corrected by 6.5%. This has challenged the notion of Bitcoin as an uncorrelated asset, as the cryptocurrency has repeatedly failed to decouple from the S&P 500 amid rising economic risks. The global trade war has led investors to favor fixed-income assets and cash positions.

5-year US Treasury yield (left) vs. Bitcoin/USD (right). Source: TradingView / Cointelegraph

Bitcoin’s recent drop to $94,000 is particularly concerning given that Strategy, a US-listed company led by Michael Saylor, announced the acquisition of 1,895 BTC on May 5, after doubling its capital increase plan to fund further Bitcoin purchases. However, since investors were previously uncertain about Strategy’s ability to raise additional capital, the announcement of an $84 billion plan on May 1 has reduced some of this risk.

For Bitcoin to reach a new all-time high, investors will likely need reassurance that US-China trade relations are improving, as tariffs have negatively impacted overall risk appetite. Nevertheless, the key elements for a BTC bull run above $100,000 appear to be in place.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.