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Crypto Gains as Bitcoin Nears Resistance Level

Crypto Gains as Bitcoin Nears Resistance Level

Steven Harper • April 30, 2025

Key Takeaways

Bitcoin is showing short-term bullish momentum and is once again approaching the 95,400 USD mark.
Tether (USDT) is sending mixed signals: reserves on Binance are rising, but exchange deposits are declining.
The market capitalization of altcoins (excluding Bitcoin and Ethereum) is increasing, but may face resistance.
The US Dollar Index (DXY) continues to fall – a potential sign of rising crypto demand.

Bitcoin in Strong Uptrend

Bitcoin (BTC) is currently trading within a narrow range between 93,000 and 95,400 USD. In recent days, the price has repeatedly tested the upper boundary. This indicates growing buying power and a potential breakout. Notably, the BTC rally is occurring alongside a recovery in the altcoin market.

Tether: Mixed Signals for Market Sentiment

Tether (USDT), the largest stablecoin, is currently providing mixed indicators of market sentiment. On one hand, USDT reserves on Binance are increasing – suggesting higher liquidity and potential buying interest. On the other hand, the number of USDT deposits on exchanges has been declining for several months. This may point to reduced trading activity or lower demand.

Altcoin Market Shows Upside Potential

The so-called TOTAL3 market capitalization – which includes all altcoins except Bitcoin and Ethereum – has risen by about 18% since early April. This lags slightly behind Bitcoin, which gained nearly 24% in the same period. The altcoin market is now approaching a key resistance level at 850 billion USD. A sustained breakout above this level would be a positive signal for many smaller cryptocurrencies.

Tether Dominance Declines – Risk Appetite Grows

Tether dominance (USDT.D), which measures USDT’s share of total crypto market capitalization, has dropped in recent weeks – a sign that investors are increasingly shifting to riskier assets like altcoins. Currently, dominance is below the previous low of 5.09% and is testing this area as resistance. If the decline continues, it would be another bullish signal.

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Weaker US Dollar – Tailwind for Crypto?

The US Dollar Index (DXY), which measures the value of the dollar against other major currencies, is in a downtrend. A weaker dollar can lead investors to shift more capital into alternative assets like cryptocurrencies. The DXY is currently trading below the 101-point mark and shows no signs of a short-term recovery.

Fewer Tether Deposits – A Warning Sign?

A key indicator of market activity is the number of stablecoin deposits on exchanges. This number is declining for Tether. The 14-day moving average has shown a clear downward trend since January 2025. This trend continued in April. It may indicate that less fresh capital is entering the market – a potential warning sign for short-term traders.

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Our Assessment

The current market situation is complex. Bitcoin and many altcoins are showing strength, supported by falling Tether dominance and a weak US dollar. At the same time, the decline in Tether deposits calls for caution. For you as a trader or investor, this means: keep an eye on short-term trends, but watch for signs of weakness. A sustained breakout above key resistance levels could open up new opportunities – but without fresh capital, the risk of a pullback remains. Strategic risk management is key.

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Play with Tether now

Profile Tether
Symbol	USDT
Coin type	Stable Coin
Transaction Speed	High
Pros	Popular and most widely used stablecoin Fast transactions
Cons	Not traded 1:1 to the dollar
Further practical applications
Price	$1.00
24h %	-0.01 %
7d %	0.00 %
30d %	0.03 %
60d %	0.07 %
1y %	0.06 %
Market Cap	$148,448,665,759.00
Official Links	Website \| Whitepaper
Socials	Reddit \| X