2-5-2025 – The cryptocurrency landscape witnessed a confluence of bullish indicators as April drew to a close. The digital asset market, which had previously grappled with broader economic headwinds throughout the year, displayed encouraging signs of renewed vigour.
Veteran technical analyst Josh Olszewicz highlights an unprecedented synchronicity in market breakouts, drawing parallels to the robust performance witnessed in late 2023. His analysis emphasises the pivotal role of liquidity, particularly noting the significant development in stablecoin dynamics.
A watershed moment occurred on 29 April when Tether executed two consecutive billion-dollar mints, propelling the combined USDT and USDC supply to unprecedented levels. The USDT/USD trading pair on Kraken exhibited a notable premium, suggesting genuine market demand rather than mere strategic rebalancing.
Bitcoin’s resolute performance above the crucial $90,000-$95,000 threshold proved particularly noteworthy, maintaining its upward trajectory despite challenging macroeconomic data, including disappointing US GDP figures and persistent PCE inflation metrics. This resilience coincided with gold’s retreat and the Dollar Index hovering near its cyclical nadirs.
The altcoin landscape presents a mosaic of compelling technical formations. Solana emerges as a standout, forming an inverted head-and-shoulders pattern approaching the $200 mark. Curve’s unexpected double-digit surge amidst broader market decline exemplifies the selective nature of current market movements.
Ethereum’s positioning suggests a gradual bottoming process, potentially extending into June, whilst Litecoin mirrors this deliberate pace. The meme token sector, led by Dogecoin’s developing technical structure, hints at reinvigorated retail participation.
Looking ahead, Olszewicz projects potential altcoin outperformance in the May-June window, though Bitcoin’s dominant market position remains a crucial consideration. The analyst’s measured approach emphasises the importance of awaiting definitive technical confirmations before commitment.
In the realm of emerging protocols, Fetch.ai, Chainlink, and Algorand display varying degrees of technical maturity, each offering distinct entry opportunities aligned with cloud-based indicators.
The narrative unfolds against a curious divergence in funding markets, where Bitcoin exhibits negative funding rates on cryptocurrency exchanges whilst maintaining positive rates in traditional futures markets, adding an intriguing dimension to the current market structure.
