Bitcoin tops US$95K as markets steady

Key market insights

• Bitcoin tops US$95K as global markets steady: Bitcoin rallied past US$95,000, driven by renewed risk appetite, easing trade tensions, and growing institutional interest.
• US regulators ease restrictions on crypto activities for banks: Guidance requiring banks to seek prior approval for crypto and stablecoin activities have been withdrawn by banking regulators.
• Swiss crypto advocates push for Bitcoin in central bank reserves: A campaign to require the Swiss National Bank to hold Bitcoin as part of its official reserves is gaining traction.
• CME Group to launch XRP futures in May: The world's leading derivatives marketplace, announced plans to launch cash-settled XRP futures on May 2025, pending regulatory approval.
• Spanish university launches first Bitcoin-focused Master's program: The University of the Hespérides will launch an online Master’s in Bitcoin program, offering specialised education.

The weekly trading stats as of Monday, April 28th at 10:00 am AEST, based on data from Tradingview in USD.

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Bitcoin tops US$95K as global markets steady

Bitcoin surged above US$95,000 on Friday, hitting its highest level since February and extending its recent rally as investors show renewed appetite for risk assets. After dipping below US$75,000 earlier this month, Bitcoin has gained more than 10% over the past seven days, driven by easing trade tensions, hopes of a summer Fed rate cut, and growing institutional activity in crypto markets.

Stocks remained relatively flat to close the week, but crypto-related equities like Strategy (MSTR), Coinbase (COIN), and Marathon Holdings (MARA) also posted gains alongside Bitcoin’s rise. Analysts note that while Bitcoin still trades below its all-time highs, sentiment has turned increasingly bullish, with firms like ARK Invest reiterating long-term price targets well above current levels.

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US regulators ease restrictions on crypto activities for banks

The US Federal Reserve has announced that it is withdrawing key supervisory letters that had previously required banks to obtain advance approval before engaging in crypto-asset and stablecoin activities. The move, unveiled Thursday, reflects an ongoing trend under the Trump administration toward loosening restrictions on digital assets and encouraging greater integration of crypto into the traditional financial system. Industry experts say the rollback could open the door for more banks to explore crypto services without facing as many regulatory hurdles as before, though calls for prudence in managing risks remain.

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Swiss crypto advocates push for Bitcoin in central bank reserves

Crypto proponents in Switzerland are intensifying efforts to have the Swiss National Bank (SNB) include Bitcoin in its reserves, citing global economic instability and the need for diversification. A referendum campaign launched in December aims to amend the Swiss constitution to mandate the SNB to hold Bitcoin alongside gold. Advocates argue that Bitcoin's decentralised nature and resistance to inflation make it a valuable asset in a multipolar world order, especially as traditional currencies like the dollar and euro face devaluation risks. Despite these calls, SNB Chairman Martin Schlegel has rejected the proposal, stating that cryptocurrencies currently do not meet the bank's reserve standards due to concerns over liquidity and volatility.

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CME Group to launch XRP futures in May

CME Group, the world's leading derivatives marketplace, announced plans to launch cash-settled XRP futures on May 2025, pending regulatory approval. The new contracts will be available in two sizes: a micro contract of 2,500 XRP and a larger contract of 50,000 XRP, both settled in US dollars based on the CME CF XRP-Dollar Reference Rate. This move follows CME's recent introduction of Solana futures and reflects growing institutional interest in altcoins beyond Bitcoin and Ethereum. XRP has posted modest gains in 2025, outperforming Bitcoin and Ether, which have seen losses. The upcoming launch of XRP futures is expected to provide investors with more tools to manage risk and could potentially pave the way for future XRP-based exchange-traded funds (ETFs).

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Spanish university launches first Bitcoin-focused Master's program

The University of the Hespérides in Spain has announced the launch of a new Master’s in Bitcoin program, set to begin on April 28, 2025. Taught entirely in Spanish and awarding 60 ECTS credits, the fully online, 10-month course is aimed at entrepreneurs, engineers, lawyers, and investors seeking in-depth knowledge of Bitcoin’s philosophy, technology, monetary theory, legality, and investment strategies. This initiative reflects growing academic interest in cryptocurrency and blockchain education as the sector continues to expand further globally.

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Looking ahead

The retest of the US$95k level marks a significant milestone for the market, signalling a higher high and breaking out of the downtrend. Bitcoin closed the week with a 10% gain. Investors seem to be reacting to easing trade tensions, continued hopes of a Fed rate cut this summer, and increasing concerns about financial stability in traditional markets.

Analysts are now watching the US$98k to US$100k range as the next major target as institutional activity deepens. Strategy’s accumulation approach remains aggressive, while BlackRock’s spot ETF purchases and the launch of new vehicles like Twenty-One Capital are expanding Bitcoin's foothold across traditional finance. Recent regulatory updates like the easing of crypto restrictions for banks and the upcoming launch of XRP futures also help signal the continued evolution of a market environment where crypto assets are becoming even more entrenched within the mainstream financial structure.

With that said, the markets remain at a crossroads for now. Bitcoin has remained resilient, but volatility risks have not disappeared in the face of further geopolitical tensions, a cautious global economic outlook, and political uncertainty around central bank leadership. Crypto markets could see further upside if macro conditions improve, but traders and investors should stay alert for sharp moves as the broader economic story continues to unfold.

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