Crypto News 06/04: Bitcoin may continue to fall as pessimistic sentiment prevails along with news about Ethereum, Aptos, GMGN, Sonic, ChainCatcher

From the observation that Bitcoin is likely to continue to decline as pessimistic sentiment prevails to ChainCatcher hosting an important crypto event in Hong Kong on April 8, here are some highlights in the crypto market.

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Bitcoin News

After a decrease of 8.03% last month, Bitcoin (BTC) remains stable in the market. In the past 24 hours, this asset has decreased by 0.8%.

The analysis highlights the challenging position of Bitcoin, with indicators increasingly showing the potential for price decline as pessimistic sentiment prevails.

The In/Out of the Money Around Price data from IntoTheBlock indicates that Bitcoin is at a critical point, with 516,770 buy orders for BTC placed at the support level of $82,244.77.

At the same time, the two resistance levels are $84,314.07 and $94,320.97, with sell orders of 607,200 BTC and 627,470 BTC, respectively.

Source: IntoTheBlockThe next price movement remains uncertain as the influx of capital surged by 350% from $1.82 billion to $8.2 billion.

However, the asset prices do not show a corresponding increase. This may indicate that capital is being held back in the market. It could be deployed later in a more favorable position.

Market activity analysis shows that the situation is leaning towards a decline. Currently, there has been a slight increase in the number of Bitcoins on exchanges, as the reserves of the exchange have risen to 2.43 million.

The increase in BTC reserves on the exchange means that market participants are moving their assets from private wallets back to the exchange in preparation for selling. If this happens, the price of Bitcoin may continue to decline.

Source: CryptoQuantThe net cash flow of the exchange has turned positive, increasing bearish sentiment. The increase in net cash flow indicates that the number of Bitcoins being transferred to exchanges is being sold, which could increase selling pressure.

This indicates that the market is likely selling Bitcoin around the support area of $82,000.

However, the influx of capital at this level could push the price of Bitcoin higher, potentially gaining enough momentum to surpass the resistance levels of $84,000 and $94,000.

On the derivatives market, selling pressure is continuous, with selling volume continuing to increase.

According to the Taker Buy/Sell Ratio, using a scale of 1, the current index is 0.977 and is on a downward trend.

Source: CryptoQuantIf this ratio continues to decrease, it signals that selling volume is increasing. This indicates that the bears are gaining control of the market.

Ethereum News

Ether (ETH) is clearly lagging behind Bitcoin and major altcoins, falling to its lowest price since 2020.

According to data from CryptoQuant, the main reason comes from the decrease in network activity: the number of active wallets and transaction fees have both dropped significantly, causing the ETH burn rate to fall to a record low since The Merge.

After the Dencun upgrade, the amount of ETH burned is now less than the amount issued, causing ETH to return to an inflationary state. This further exerts downward pressure on prices, and the negative trend shows no signs of stopping.

Source: CryptoQuant## Aptos News

According to Messari's Pulse report, Aptos has established itself as a "global trading engine" through a series of strategic initiatives, technological advancements, and the continuous development of the DeFi ecosystem.

As of March 2025, Aptos has a total locked value of (TVL) exceeding 1 billion USD, marking sustainable growth from the previous level of 300-500 million USD.

Important milestones include the first time Aave deployed outside of EVM and the airdrop of AMI tokens from Amnis Finance. Furthermore, the market capitalization of Aptos stablecoins has surpassed 1 billion USD, increasing more than 10 times compared to the previous year.

Technologies such as Zaptos and Shardines have been introduced to expand the network and promote global transactions by reducing latency and applying sharding to the execution engine of Aptos.

GMGN News

Haze, co-founder of the meme tool GMGN, stated that GMGN has generated approximately 60 million USD in SOL through transaction fees.

According to Haze, all SOL obtained from fees is transferred to the staking network to build the Solana ecosystem. He also mentioned that the transaction time of Solana GMGN is currently 0.58 seconds.

Source: Haze## Sonic News

Sonic Network, formerly known as Fantom, has recorded a significant increase in total value locked (TVL), reaching a milestone of 10.77 billion USD.

This increase stems from a strategic focus on community incentives and improved developer tools, driven by co-founder Andre Cronje and his team.

TVL shows a growth rate of 21.11% over the course of a week, indicating that Sonic is a major DeFi project. The metrics reflect successful partnerships and innovations aimed at boosting liquidity and increasing accessibility for users worldwide.

"Sonic's focus on community incentives and developer tools has driven unprecedented growth in the company's DeFi ecosystem."

ChainCatcher News

ChainCatcher, in collaboration with RootData, is organizing an important crypto event in Hong Kong on April 8.

This event is titled "Crypto 2025: Breaking the Deadlock and Rebirth," bringing together industry leaders to discuss emerging trends in AI and Web3.

ChainCatcher collaborates with RootData to host a comprehensive event in the industry in Hong Kong, focusing on exploring emerging trends in the crypto field.

Notable participants include Adam Jin from the Solana Foundation and Jenny from Avalanche.

Focusing on AI in financial technology, this conference aims to influence investment strategies into AI, real-world assets (RWA), and finance centered on payments (PayFi). Such discussions can significantly impact technology development and investment approaches in the crypto space.

You can check the coin price here.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should thoroughly research before making any decisions. We are not responsible for your investment decisions.

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Viet Cuong

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