Cryptocurrencies enter a new week with more volatile gains on Friday.
The announcement of the reopening of the Strait of Hormuz sent oil prices lower and pushed risk assets higher, including Bitcoin and the broader crypto market. The U.S. seized an Iranian-flagged oil tanker on Sunday in a reversal of events on Saturday when Iran opened fire on ships trying to pass.
With the ceasefire set to expire mid-week, traders will be watching to see whether risk rotations can weather another round of energy shocks.
The level of technology to watch is clear. Luke Nolan, senior ETH researcher at CoinShares, told CoinDesk that further moves depend on Bitcoin keeping the ETF cost basis near $74,000.
“As the Strait of Hormuz reopens, oil prices fall and stocks return to ATH levels, pulling cryptocurrencies higher,” Nolan said. “Follow-through now depends on BTC staying decisively above its ETF cost base (~$74,000), which will confirm the risk rotation already visible in flows. ETF flows have turned positive over the past three trading days, and an acceleration of this pace will support prices higher.”
A decisive hold above $74,000 ahead of the ceasefire deadline, coupled with a fourth consecutive session of positive inflows into the ETF, would validate the rotation theory. A move below this level would lead to renewed volatility in the sector.
What to see
(All times are Eastern Time)
- cryptocurrency
- April 30: The comment period ends on the CFTC’s advance notice of proposed rulemaking on prediction markets.
- Macro
- April 20, 7:30 a.m.: Canada’s consumer price index increased year-on-year in March (previously 1.8%); core interest rate (previously 2.3%)
- April 21, 1:30 p.m.: Federal Reserve Board Governor Christopher J. Waller delivers a speech titled “Modernizing Reserve Bank Operations” at the Brookings Institution in Washington, D.C.
- 1:00 am on April 22: UK consumer price inflation in March year-on-year (previous value 3.0%); core interest rate (previously 3.2%)
- April 22, 7:30 pm: Japan’s April S&P Global Services PMI Preview (previous value 53); Manufacturing PMI (previous value 51.6)
- April 23, 7:30 am: Canadian producer price index in March year-on-year (previous value 5.4%); month-on-month (previous value 0.4%)
- April 23, 7:30 a.m.: Number of first-time jobless claims filed in the United States for the week ending April 18 (previous value: 207K)
- 8:45 am on April 23: US S&P Global Manufacturing PMI preview for April (previous value 52.3); services PMI (previous value 49.8)
- April 23, 3:30 PM: Fed balance sheet as of April 22 (previous value $6.71)
- April 23, 6:30 pm: Japan’s consumer price index increased year-on-year in March (previous value: 1.3%); core CPI (previous value: 1.6%)
- 3:00 a.m. on April 24: Germany’s Ifo business climate in April (previous value 86.4)
- 9 a.m. on April 24: The final value of the consumer confidence index in Michigan in April was 47.6 (previous value 53.3)
- Revenue (estimated based on available FactSet data)
- April 22: Tesla (TSLA), pre-market, $0.3
- April 22: CME Group, pre-market, $3.29
- April 23: Nasdaq (NDAQ), pre-market, $0.93
Token event
- Governance votes and calls
- SafeDAO is voting to allocate 5 million SAFE tokens to fund a six-month staking reward program and Safenet Beta interface development. Voting closes on April 20.
- The Unlock DAO is voting on a payment plan to compensate members for their contributions to the collaborative platform during March and April. Voting closes on April 20.
- The RootstockCollective DAO is voting on a 20,000 USDRIF grant to fund a security audit of the TYKORA prize pool, a lossless savings protocol. Voting closes on April 20.
- The ENS DAO is voting to update its DNSSEC implementation, repointing Algorithm 7 to a previously patched contract, adding appropriate padding validation to correct omissions in previous security updates. Voting closes on April 21.
- The Decentraland DAO is voting to overhaul its transparency infrastructure by establishing name ownership for all record-keeping systems, issuing strict maintenance standards, and creating an accessible data location portal for the community. Voting closes on April 22.
- The Telcoin Platform Council DAO is voting to allocate 50 million TEL to hire strategic telecom consultants to drive GSMA adoption. Voting closes on April 22.
- The Aavegotchi DAO is voting to appoint 9 multi-signers for 2026-2027, maintain the 5 out of 9 security threshold, set their quarterly compensation at $1,000 GHST, and develop a succession plan. Voting closes on April 22.
- The Lightchain AI DAO is voting to explore adding an optional Moonpay fiat onboarding to its AI chat, focusing on feasibility and risk, but has not yet committed any funding or approved implementation. Voting closes on April 23.
- The Gitcoin DAO is voting to recover remaining unclaimed fees from the defunct Public Goods Network (PGN). Voting closes on April 24.
- Parallel DAO is voting to begin the phase-out of its V2 euro stablecoin by halting most new issuance and implementing a punitive borrowing rate of 50% to encourage users to repay existing debt. Voting closes on April 24.
- Unlock
- April 20: LayerZero (ZRO) unlocked 5.35% of its circulating supply, worth $48.33 million.
- April 22: Undeads Games (UDS) unlocked 13.47% of its circulating supply, worth $37.09 million.
- April 23: Toncoin (TON) unlocks 1.47% of its circulating supply, worth $49.75 million.
- April 25: Humanity Protocol (H) unlocked 4.02% of its circulating supply, worth approximately $11.88 million.
- April 25: Avalanche (AVAX) unlocks 0.39% of its circulating supply, worth $15.6 million.
- April 26: Plasma (XPL) unlocks 3.73% of its circulating supply, worth $10.1 million.
- Token issuance
- April 21: The OpenGradient (OPG) token generation event occurs.
- April 21: USDAI’s CHIP token launched.
- April 22: Wingbits (WINGS) token generation event occurs.
