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The data released overnight had little effect on markets. Bitcoin remains range-bound, gold ticked up just 0.05%, and the S&P 500 posted a modest 0.58% gain. Both key data prints came in below expectations.
JOLTS job openings were forecast at 7.49 million but came in lower at 7.19 million—reinforcing the trend of softening labour demand. Lower-than-expected numbers are generally positive for risk-on assets and negative for the USD, as they hint at a more dovish Fed. But the broader lack of momentum across markets has kept price action subdued.
US consumer confidence also declined for the sixth straight month, reflecting rising caution among households amid sticky inflation and policy uncertainty. While this was largely expected, it adds to the broader theme of hesitancy. Political noise—like Trump and the White House flip-flopping on tariffs—only deepened market indecision throughout April.
Despite the noise, Bitcoin is set to close April nearly 15% higher—a sharp turnaround from just weeks ago when it dipped under $75K, losing 15% in four days post-Liberation Day. Since then, BTC has rallied over 26%, and is once again knocking on the door of $100K.
This consolidation period will break—it’s not a matter of if, but when. Bitcoin’s structure and the expanding M2 money supply point to upside, likely sooner rather than later. Allocating during times of consolidation is often when the best moves are made—don’t sleep on it.
Stormrake Spotlight: Ripple (XRP) ($2.24)
Stormrake Spotlight: Ripple (XRP) ($2.24)
XRP posted a mild 2.49% pullback yesterday, retesting the 55 EMA but closing above it—a strong technical signal. The $2.33 CPR level remains key resistance. For XRP to extend its bullish structure, it must clear that while holding above the 55 EMA. A drop below the 55—or even the 21 EMA—could flip the structure bearish.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Another 24 hours of sideways action. BTC continues to range between $95.7K and $92.5K. A break above the range likely sets up a $100K retest, while a downside break could push BTC back below $90K.
BTC Total ETF Flows for 29 April: $ -43.9 million
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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