Bitcoin Reclaims $80K, XRP Sees Liquidations, RWA Market to Grow to $18.9T by 2033: Apr 8

The global crypto market cap rose modestly by 1.71% to $2.54 trillion while trading volumes surged 93.41% to $200.92 billion, driven by stablecoins and DeFi liquidity. Key developments include strategic regulatory appointments, emergency risk management actions, and expanding tokenization efforts in real-world assets (RWA).

• The global crypto market cap increased to $2.54T with a significant uptick in daily trading volume to $200.92B.

• BTC’s dominance edged up to 62.81, bolstered by a brief surge in hashrate and technical resilience amid volatility.

• XRP’s price remains under strain as futures liquidations and weak derivative activity underscore bearish sentiment.

• The tokenized asset market is forecast to reach $18.9T by 2033 as blockchain solutions continue to transform traditional finance.

• From Pakistan’s appointment of CZ as a crypto adviser to emergency ETH deposits preventing massive liquidations, the market reflects a blend of innovation and caution.

The total crypto market cap currently stands at $2.54 trillion, marking a 1.71% increase over the last day. Trading volumes have shot up by 93.41%, reaching $200.92 billion in the past 24 hours. 

Crypto Fear & Greed Index | Source: Alternative.me

Stablecoins dominate the trading volume at $189.97 billion (94.55%), while DeFi protocols have contributed $12.39 billion (6.17%). Simultaneously, Bitcoin’s market share has risen to 62.81%, emphasizing its role as the market’s anchor even as sentiment remains extremely fearful at a Crypto Fear & Greed Index reading of 24.

Recent market developments have reinforced the interconnected nature of global crypto and traditional finance:

• Pakistan has strategically appointed former Binance CEO Changpeng “CZ” Zhao as an adviser to its national crypto council. This move signals the country’s commitment to building a forward-looking regulatory framework aimed at propelling blockchain adoption and attracting international investment.

• A prominent Ethereum whale made headlines after depositing roughly $14 million in ETH alongside additional Dai to stave off a catastrophic liquidation on a $340 million MakerDAO position. This decisive action underscores the inherent risks in overleveraged DeFi positions and highlights the volatility that can result from sudden market shifts.

• Bitcoin’s network recently achieved a milestone when its hashrate briefly crossed 1 zetahash per second—a historic first in its 16-year journey. Although this peak was short-lived, it demonstrates the network’s expanding computational power and potential resiliency, even in times of widespread market uncertainty.

• Heightened by US-led trade measures and tariff announcements, global risk sentiments have intensified. Such macro pressures have sparked a notable market correction, reflecting how government policies can swiftly affect investor behavior across both traditional and digital asset classes.

Read more: Bitcoin Slides to $78K as Trump’s Tariffs Spark 7.7% Crypto Market Decline: Apr 7

BTC/USDT price chart | Source: KuCoin

Bitcoin remains the backbone of the crypto market, demonstrating both strength and vulnerability amid broader economic challenges. Despite external pressures, its market dominance has inched up to 62.81%, a figure bolstered by a temporary surge in hashrate, which briefly reached 1 zetahash per second. This milestone indicates robust underlying network support, even as Bitcoin’s price continues to experience fluctuations. 

Technical analysts observe that the cryptocurrency is managing to hold key support levels around the $76,000 mark, where renewed buying interest has emerged. However, the market remains cautious, as failure to breach critical technical levels—such as a sustained weekly close above $92,000—could pave the way for further downward corrections.

Adding to the technical picture, Bitcoin has recently experienced a volatility squeeze—a phase characterized by reduced price swings that often precede significant directional moves. This pattern is especially relevant in the current context of heightened market fear, as reflected in the Crypto Fear & Greed Index. 

Institutional insights have suggested that the prevailing market conditions might contribute to a healthy clearing of excess leverage. Although such deleveraging can be painful in the short term, many analysts believe it could ultimately set the stage for a robust Bitcoin rally once liquidity normalizes and investor confidence is restored.

XRP/USDT price chart | Source: KuCoin

XRP, trading at approximately $1.92, has been notably challenged amid the current market downturn. The cryptocurrency has come under significant pressure partly due to the liquidation of over $60 million in long futures positions in the last 24 hours. 

This wave of liquidations mirrors a broader risk-off sentiment observed across the market, where weak demand in the derivatives space is further compounded by sustained negative funding rates. These conditions underscore a diminished appetite for XRP among investors, contributing to a deepening bearish momentum.

XRP liquidations | Source: CoinGlass

Further intensifying XRP’s struggles are external factors such as ongoing US-led tariff measures and associated trade tensions. Given XRP’s sensitivity as a risk-on asset, any reduction in international trade volume or increased regulatory uncertainty tends to exert immediate negative pressure on its price trajectory. In the absence of a strong catalyst to reverse the negative sentiment, market participants remain cautious, with many expecting the current lack of buying interest to persist in the short term.

Source: Ripple and BCG

The emergence of tokenized real-world assets (RWA) represents a transformative development in the digital finance landscape, with the market poised for dramatic growth. Projections suggest that the tokenized asset market could escalate to an impressive $18.9 trillion by 2033, driven by blockchain’s inherent strengths such as enhanced efficiency, reduced settlement times, and significant operational cost savings. 

This technology is already being leveraged by financial institutions to record asset ownership and streamline transactions without intermediaries—evidenced by initiatives from platforms like JPMorgan’s Kinexys and BlackRock’s tokenized money market funds.

Despite its promising outlook, the tokenization market faces a host of challenges that must be overcome to fully realize its potential. Key obstacles include regulatory fragmentation, inconsistent custody and interoperability standards, and the need for standardized smart contract protocols. These issues are critical to address as they currently inhibit the seamless integration of tokenized assets into traditional financial systems. 

Nevertheless, as more institutions experiment with tokenization, traditional finance could undergo a fundamental shift in how assets are managed and traded. Early adopters who successfully navigate these regulatory and technical hurdles are likely to reshape the global asset landscape, offering more efficient liquidity solutions and transforming the overall value chain of financial markets.

In this period of substantial liquidity and technical breakthroughs, the crypto market reflects a blend of cautious optimism and pragmatic risk management. While Bitcoin’s enduring dominance and the promising growth of tokenized real-world assets point to long-term opportunities, short-term pressures—from regulatory shifts to massive liquidations—demand careful monitoring. As investors navigate these turbulent times, staying attuned to key technical levels and broader macroeconomic signals will be crucial for mitigating risks and capitalizing on emerging trends.