Bitcoin Reclaims $83K, XRP ETF Sparks 13% Rally, Paul Atkins’ SEC Role Amid DXY Dynamics

The global crypto market cap surged to $2.61 trillion (+8.13%), with 24‑hour volume spiking 46% to $170.7 billion. Bitcoin tested $83 000 on macro tailwinds, XRP jumped 13% post‑XXRP ETF launch, and Paul Atkins’ SEC confirmation signals a pro‑crypto regulatory shift as the DXY hovers near key levels.

• Crypto cap at $2.61 T (+8.13%), volume $170.7 B (+46.04%); DeFi $11.0 B (6.45%), stablecoins $161.9 B (94.84%).

• BTC dominance 62.53% (−0.13%), testing $83 K; falling‑wedge pattern hints at $100 K upside if breakout holds.

• XXRP ETF debut on NYSE Arca and tariff pause fueled a 13% XRP rally above $2, though technicals warn of a potential $1.20 downside.

• Trump’s 90‑day tariff pause and DXY’s proximity to 100 underpin renewed risk appetite; historical DXY dips precede major BTC bull runs.

• Paul Atkins confirmed as SEC Chair promises clearer digital‑asset rules; Kalshi adds BTC deposits to expand prediction‑market offerings.

The global crypto market capitalization stands at $2.61 trillion, marking an 8.13% increase over the past 24 hours. Trading activity has intensified dramatically, with total 24‑hour volume surging 46.04% to $170.68 billion. 

Crypto Fear & Greed Index | Source: Alternative.me

Within this, DeFi protocols contributed $11.01 billion (6.45%), while stablecoins dominated at $161.88 billion—94.84% of total volume. Bitcoin’s market share dipped marginally to 62.53%, and the Crypto Fear & Greed Index jumped from 18 (“Extreme Fear”) to 39 (“Fear”), underscoring a shift toward risk‑on sentiment.

President Trump’s announcement of a 90‑day pause on reciprocal tariffs for non‑retaliating nations sent ripples through both equities and crypto markets. While the S&P 500 jumped nearly 8%, Bitcoin responded with a 5–9% surge in minutes, highlighting crypto’s growing sensitivity to trade policy. Conversely, China’s retaliatory tariff hike to 125% on US goods underscores persistent geopolitical friction, fueling flight‑to‑crypto narratives as a hedge against traditional market volatility.

In Buenos Aires, Argentina’s Chamber of Deputies approved a probe into President Javier Milei’s promotion of the LIBRA memecoin—a token that briefly reached a $4 billion market cap and allegedly scammed over 40,000 investors. This high‑profile investigation spotlights global regulatory scrutiny of influencer‑driven token promotions and underscores the need for clearer guidelines—foreshadowing the SEC’s potential pivot under new leadership.

Read more: From $4.56B Peak to 94% Crash: Milei’s LIBRA Endorsement Triggers $107M Insider Exit

BTC/USDT price chart | Source: KuCoin

Bitcoin’s price reclaimed the $83 000 level for the first time since April 6, driven by the tariff‑pause‑fueled rally in US equities. Spot BTC rose over 8% intraday, briefly touching $83 500 before consolidating.

Derivatives Signal Cautious Optimism

• Futures Premium: Briefly exceeded the neutral 5% threshold, indicating balanced long/short positioning.

• Options Delta Skew: Shifted from a bearish +12% to a neutral +3%, suggesting put‑call premiums are even, a marked improvement from late‑March pessimism.

Glassnode metrics place critical support between $65,000–$71,000, where active realized price and true market mean converge. Historically, Bitcoin spends equal time above and below this band; holding here is essential for bulls aiming to validate a falling‑wedge breakout and target $100,000 by mid‑year.

Read more: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025

XRP/USDT price chart | Source: KuCoin

The XXRP ETF launched on NYSE Arca on April 8, drawing $5 million in first‑day volume and propelling XRP up 13% to $2.01. This leveraged ETF aims to amplify daily XRP returns, attracting both retail and institutional inflows amid broader market optimism.

Despite the ETF buzz, XRP’s daily chart reveals a descending triangle since December 2024. The pattern resolved with a breakdown below $2 on April 6, projecting a 33% drop to $1.20. Key intermediate supports lie at $1.81 and $1.71, with a potential final low around $1.55 if bearish momentum persists.

Read more: Teucrium’s 2× XRP ETF Posts $5 Million Day-One Volume; Standard Chartered Sees XRP at $5.50 by 2025 and $12.50 by 2028

DXY | Source: TradingView

Trump’s 90‑day tariff reprieve for non‑Chinese imports ignited an 8% rally in both the S&P 500 and Bitcoin, underscoring crypto’s increasing correlation with macro risk assets.

The US Dollar Index (DXY) currently hovers around 104, near the psychologically pivotal 100 level. Historical dips below 100—June 2020 and April 2017—preceded BTC rallies of over 500% within eight to nine months. Reports of China curbing dollar purchases to support the yuan add fuel to speculation that a weaker DXY could catalyze another major crypto upswing.

Paul Atkins is the new SEC chair | Source: X

On April 9, the Senate confirmed Paul Atkins as SEC Chair in a 51–45 vote. A former SEC commissioner (2002–2008) and co‑chair of the Token Alliance, Atkins is renowned for his pro‑crypto stance. His stated priorities include:

• Regulatory Clarity: Establishing coherent, principle‑based guidelines for digital assets.

• Enforcement Balance: Reducing litigation uncertainty by refining the SEC’s Crypto Task Force approach.

• Market Innovation: Encouraging token registration pathways to foster compliant blockchain projects.

Atkins’ tenure could mark a pivot from the enforcement‑heavy era under Gary Gensler to a more dialogue‑oriented regime, potentially unlocking new growth avenues for crypto firms.

Prediction‑market platform Kalshi, regulated by the CFTC, announced BTC deposit support on April 9, complementing its existing USD Coin rails. Highlights include:

• $143 Million in volume on BTC‑settled event contracts (e.g., hour‑by‑hour BTC price movements).

• Seamless on‑ramp via ZeroHash infrastructure, converting BTC deposits to USD for contract participation.

• Expansion of 50+ crypto‑related markets, from 2025 price highs/lows to political event outcomes.

By catering to crypto‑native traders, Kalshi aims to diversify its user base beyond traditional derivatives, leveraging digital‑asset liquidity and engaging a new cohort of market participants.

Read more: Top 7 Decentralized Prediction Markets to Watch in 2025

The crypto market’s recent upswing—fueled by trade‑policy developments, ETF innovation, and regulatory shifts—demonstrates its maturing interplay with macroeconomic forces. Bitcoin’s technical setup offers upside potential toward $100 000, while XRP’s ETF‑driven spike carries significant breakdown risks. As Paul Atkins assumes the SEC helm and platforms like Kalshi deepen crypto integrations, the sector stands at a crossroads: poised for institutional expansion yet vulnerable to geopolitical and technical headwinds. Investors should weigh these catalysts against persistent DXY volatility and pattern breakdown threats to navigate the next phase of crypto’s evolution.

Read more: Unlocking RWA Tokenization in 2025: Key Trends, Top Use Cases & DeFi Insights