Bitcoin Surges to $95,000 as Altcoins Struggle Amid Regulatory Crosscurrents

Cryptocurrency markets entered a new phase in April 2025, marked by Bitcoin’s meteoric rise to nearly $95,000 and a mixed bag for altcoins. While institutional demand and geopolitical optimism fueled Bitcoin’s gains, altcoins like Ethereum and Dogecoin faced headwinds from regulatory uncertainty and on-chain liquidity concerns.

Bitcoin’s Bull Run and Institutional Momentum

Bitcoin’s ascent to $94,500 by April 23—a 6–7% weekly gain—was propelled by record-breaking inflows into U.S. Bitcoin ETFs. . The largest single-day inflow of $381.4 million on April 21 underscored growing mainstream acceptance.

Technical analysts highlighted key resistance zones: $91,000–$92,000 (linked to the “Trader’s On-Chain Realized Price”) and $95,900. A sustained breakout above $100,000 could unlock a path toward its all-time high of $109,000.

Altcoins Lag Amid Regulatory Crosscurrents

While Bitcoin dominated, altcoins displayed uneven performance. Ethereum (ETH) rose 10% to $1,783 but struggled to break its resistance at $1,800. Dogecoin (DOGE) and XRP surged 11% and 7%, respectively, but their gains lagged Bitcoin’s trajectory.

The broader crypto market cap hit $2.95 trillion on April 23, a 6.7% spike, but fragility lingered. On-chain data revealed Bitcoin’s “demand momentum” fell to its weakest since October -2024, with liquidity tight as USDT’s market cap grew by just $2.9 billion over two months—below the $5 billion threshold historically linked to sustained rallies.

Drivers of Bitcoin’s Rally

1. U.S.-China Trade De-escalation: Treasury Secretary Scott Bessent’s push to lower tariffs eased geopolitical fears, boosting risk-on sentiment.
2. Federal Reserve Stability: President Trump’s assurance of Federal Reserve Chair Jerome Powell’s job security reduced policy uncertainty, favoring Bitcoin as an inflation hedge.
3. Short Squeeze: A $63 million liquidation of short positions on Bybit and Binance amplified Bitcoin’s momentum.

Risks and Regulatory Headwinds

Despite Bitcoin’s gains, analysts warned of underlying risks. CryptoQuant’s “bearish” bull score and deteriorating demand metrics signaled fragility. Standard Chartered’s $200,000–$250,000 price target for Bitcoin by year-end hinges on institutional adoption—yet XRP’s $325% year-over-year return highlighted regulatory risks, as its classification remains contested.

The Altcoin Dilemma

A study by 10x Research revealed that 90% of top altcoins lose 90% of their value relative to Bitcoin within 10–20 months. Even established coins like Cardano (ADA) and XRP faced steep declines, with 89% of Binance-listed tokens in the red by April.

Data-Driven Outlook

. This decoupling suggests Bitcoin’s transition into a macro-hedging asset. Meanwhile, Ethereum’s underperformance—its market cap down 49% year-over-year—reflects competition from Bitcoin’s scarcity narrative.

Conclusion: Bitcoin’s Dominance, Altcoin’s Crossroads

Bitcoin’s resilience at $95,000 underscores its position as the crypto market’s anchor, driven by ETF inflows and macro-hedging demand. However, its ascent masks deeper fissures: on-chain liquidity shortages, equity correlation risks, and geopolitical uncertainty.

For altcoins, the path forward remains fraught. While XRP and Solana showed bursts of momentum, systemic underperformance persists. Investors should prioritize Bitcoin’s structural tailwinds—$1.7 trillion market cap, $381M ETF inflows—while treating altcoins as high-risk bets.

As Cathie Wood of ARK Invest noted, Bitcoin’s $1 million price target by 2030 hinges on decoupling from equities and solving liquidity challenges. Until then, the market remains a tale of two coins: Bitcoin’s ascent versus altcoin’s struggle for relevance.

—a sign its evolution as a macro-hedge is far from over.