This week in crypto, market sentiment split sharply between traditional finance and digital assets. While US stock markets dipped in response to rising political pressure on the Federal Reserve, Bitcoin and gold surged. Bitcoin hit a six-week high of $91,000, whales ramped up their accumulation, and institutional flows returned in force. Meanwhile, XRP showed fresh bullish signals, with price levels and whale behavior pointing toward a possible rally.
Let’s break down the key events shaping the market this week in our weekly crypto news.
Markets React to Trump-Powell Conflict, Crypto Holds Steady
Last week, President Donald Trump renewed his public criticism of Federal Reserve Chair Jerome Powell, calling him “Mr. Too Late” for keeping interest rates high at 4.5%. Trump argued that inflation is already low and that rate cuts are overdue, especially as the European Central Bank has already lowered rates seven times.
Tensions between Trump and Powell have been rising for weeks, with Trump now openly demanding Powell’s removal and calling his termination “urgent.” Powell, on the other hand, warned that Trump’s trade tariffs could slow the economy and increase the risk of stagflation — a mix of slow growth and high prices.
While the stock market reacted negatively, with the S&P 500 and Nasdaq both down more than 2.4% on April 21, Bitcoin remained steady. Crypto markets appear to be avoiding the same downturn, despite the broader economic uncertainty.
According to CME Fed Watch, the next major policy decision will take place at the Fed’s meeting on May 7. Markets currently predict just a 13% chance of a rate cut at that time. Until then, investor sentiment may continue to swing between uncertainty and hope, especially with political pressure growing around Fed policy.11-day high of around 78.500 € (~86,000 $) after President Trump announced updates to the China tariffs. While China still faces a 125% tariff, the U.S. decided to exclude certain key products from the restrictions, sparking optimism in the markets. The price jump was short-lived, as weekend trading brought lower volume and Bitcoin slipped back under 84.000 $. Despite this, BTC still closed the week up 7%, after rebounding from five-month lows earlier in the week.
Bitcoin Reaches $91,000 While Gold Sets New High – Is a BTC Rally Coming?
Gold futures reached a record-breaking $3,500 on April 22. Historically, when gold sets new highs, Bitcoin often follows with a significant price rally—usually within 100 to 150 days. This pattern played out in both 2017 and 2020, and some analysts believe we could see something similar in 2025.
Bitcoin has already shown strength, climbing to $88,500 earlier this week and reaching $91,000 today, April 22.
The fact that both gold and Bitcoin rose on the same day suggests that investors may be shifting toward alternative stores of value. Rising concerns about inflation, trade tariffs, and slowing economic growth appear to be driving this move. These are the types of risks that typically lead investors to seek safer assets.
What stands out even more is Bitcoin’s divergence from traditional markets. While stock indexes like the S&P 500 and Nasdaq have declined, Bitcoin has moved in the opposite direction. This could be an early sign that Bitcoin is starting to behave more like a “safe haven” asset—similar to gold. In times of economic uncertainty, investors often turn to such assets to protect their capital.
Traders are now closely watching the $93,000 level, which marks Bitcoin’s yearly open. The area between $90,000 and $93,000 is seen as a key resistance zone. If Bitcoin can hold above it, this zone could turn into a new support level, potentially paving the way for further gains.
From a technical perspective, Bitcoin has recently climbed above its 200-day simple moving average, currently around $88,370. This is a widely followed indicator and is often viewed as a sign of market strength.
Still, caution remains. While the price movement is encouraging, many traders are waiting for a confirmed close above $93,000 before turning fully bullish.
April Sees Strong Bitcoin Accumulation from Whales and Institutional Investors
While the market has been volatile, large Bitcoin holders — often called “whales” — continued buying throughout April. Data shows that over 60 new wallets holding at least 1,000 BTC appeared since early March. This pushed the total number of large wallets to a four-month high of 2,107 on April 15.
These accumulation levels are similar to what was seen during previous bull runs. The number of smaller wallets, however, has been decreasing — showing that larger investors are taking advantage of price dips.
MicroStrategy also made another major purchase last week. Between April 14 and 20, the company acquired 6,556 BTC for around $555.8 million, at an average price of $84,785. This brings their total holdings to over 538,000 BTC, valued at $36.5 billion.
Meanwhile, U.S.-based Bitcoin ETFs saw their strongest inflows since January. On April 21 alone, $381.3 million entered these funds — a sign that institutional interest in Bitcoin remains high. The biggest inflow came from the ARK 21Shares ETF, with over $116 million in a single day.
Together, these movements show growing confidence in Bitcoin from both whales and institutions — even as traditional stock markets remain under pressure.
XRP Eyes $3 as Whale Accumulation Rises
Ripple (XRP) has been trading steadily between $2.03 and $2.13, but whale activity suggests a potential breakout. Large XRP holders have increased their positions sharply since the start of April, now holding over 39% of the total supply.
Exchange reserves have also dropped by 10% this month, a sign that more XRP is being moved into long-term storage. Technical analysts point to a bullish chart pattern, with XRP retesting key levels around $2.10. If the price can break above this range, targets between $2.93 and $3.50 are being discussed.
Adding to the momentum, XRP futures recently went live on Coinbase’s US derivatives exchange, opening up new trading options for institutional investors.
Some analysts believe XRP could rise even further if it clears resistance around $2.24 and $2.75. As one trader put it: “XRP is bullish, and the crypto market is more bullish than ever before.”
Despite macroeconomic uncertainty, the crypto market is showing resilience. Bitcoin’s strength amid falling stocks, gold’s new all-time high, and surging whale activity all point to a broader shift in how investors view digital assets. With the next Fed meeting approaching on May 7 and political pressure rising, market volatility is likely to remain—but so is investor interest in crypto as a long-term store of value.
