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Bitcoin Traders Target $95K in Near Term; SUI Continues Multiday Rally
“Call options at $95K strikes for end-April and end-May expiries have dominated flow, pointing to a tactical appetite for further upside,” a trading firm said.
Updated Apr 25, 2025, 5:25 p.m. Published Apr 25, 2025, 6:08 a.m.
What to know:
- Bitcoin traded above $93,000 as traders showed optimism for short-term gains.
- Call options suggest traders expect Bitcoin to surpass $95,000 by late April or May.
- Sui Network's SUI saw a weekly gain of over 62%, with its TVL exceeding $1.6 billion.
In this article
Crypto majors were little changed over the past 24 hours as markets settled from a rally, and then profit-taking from earlier in the week. traded above $93,000 in Asian morning hours Friday, with traders pointing to increased optimism of short-term gains.
“With BTC holding firmly above $90K, sentiment is becoming increasingly optimistic,” QCP Capital said in a Telegram broadcast. “Call options at $95K strikes for end-April and end-May expiries have dominated flow, pointing to a tactical appetite for further upside.”
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Call options are contracts giving the buyer the right to purchase an asset at a set price before a deadline. A flurry of call option buying activity indicates traders are betting bitcoin's price will exceed $95,000 by late April or May — a tradeable signal for retail traders.
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“Still, with macro risks temporarily subdued and trade tensions cooling, BTC is likely to consolidate in a narrow $90K–$94.5K range while awaiting a decisive push toward the elusive $100K mark,” the firm said, reiterating its tone of remaining “cautious” as market sentiment hinges on macroeconomic factors.
Among majors, XRP, BNB Chain’s BNB stayed flat and Solana’s SOL showed a 2% bump. and Cardano’s ADA zoomed more than 4%, while added 5%.
The broad-based CoinDesk 20, a liquid index tracking the largest tokens by market capitalization, rose 1.2%.
Outside of majors, Sui Network’s SUI continued a multiday rally to bring weekly gains to over 62%. Catalysts include the ecosystem company xPortal, which is releasing a payment card that runs on the Mastercard network.
https://x.com/SuiNetwork/status/1915395312111530191
Data from DefiLlama shows that the total value locked (TVL) on the Sui Network has exceeded $1.6 billion, an increase of over 9% in the past 24 hours.
Additionally, the decentralized exchange (DEX) on the Sui Network has seen its 24-hour trading volume reach $599 million, showing a 35% growth compared to the previous week.
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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