After considerable turbulence at the start of the month, the crypto market on April 18, 2025, showed signs of stabilizing consolidation. The total crypto market cap still lingered around $2.69 trillion, showing that major selling pressure was no longer in effect; however, underlying tension still remained. The Crypto Fear & Greed Index, which charted a score of 32, capitulating to the “fear” section, vividly showcased this caution. While this figure reflects an improvement compared to the “Extreme Fear” territory reached just days prior as a reaction to the US tariff policy shock, in conjunction with the Mantra (OM) token’s spectacular implosion, it underscores lingering apprehension over the state of the market. Compounding these fears was the lackluster 24-hour trading volume, which floated around $44.6 billion, showcasing the fact that there is a lack of strong belief in recent price changes as traders brace for more definitive market signals.
Bitcoin Consolidates Near $85k Resistance
As the cryptocurrency market remained stable, Bitcoin traded at $85,305, with the price increasing slightly during the preceding 24-hour period. Initially consolidating around the $83,000-$84,000 range, the number one crypto asset by market cap was able to recover from its previous losses and now faced stiff resistance just shy of the $85,000-$86,000 region. While on-chain data suggested renewed whale accumulation, which is a sign of long-term confidence, dwindling bullish sentiment among institutions owing to outflows from spot Bitcoin ETFs lent a conflicting narrative. These differing attitudes exhibited diverging sentiment across market participants. Dominating the crypto market with roughly 63% market share, parallel to 63% on-chain Bitcoin dominance, underscores a shift in confidence across this risk-off defense market phase. Bolster the argument of needing to decisively break $86,000 to unlock bullish altitudinal targets toward the $90,000 mark.
Ethereum Struggles for Upward Momentum
Ethereum, at $1,601, is up slightly, like Bitcoin, which gained by a fraction. However, Ethereum underperformed on a weekly scale. ETH was struggling to push above the resistance zones near $1,650, remaining bound under important moving averages, which confirmed sustained technical weakness in relation to Bitcoin. This trend was further highlighted by a waning market dominance of ETH relative to BTC. Constant talks of potential postponements or roadblocks to Ethereum ETF staking approvals add another layer to the uncertainty fog, perhaps explaining the weakened conviction from institutions in comparison to Bitcoin. While some whale accumulation offset this, the overall ETH sentiment is looking more dull, waiting for stronger bullish winds in the markets or favorable ecosystem catalysts.
Solana Stands Out, Fueled by ETF Developments
The cryptocurrency Solana spiked as high as $138.77, marking 24-hour growth of over 2.6% and weekly growth surpassing 11%. Solana’s surge was driven by new spot Solana ETF placements in the United States, alongside launches of staking-enabled ETFs in Canada. Immediate investor impact became clear with market sentiment shift and the re-acceptance of SOL above $130. As Solana gears up towards the $140-$150 zone, it leverages its strong ecosystem narrative alongside positive ETF news.
XRP Holds $2 Support Amid Legal and Utility Focus
XRP defenders had critiqued the previous levels of volatility, stating that XRP held its ground at 2.08. Defender also noted a strong level of volatility around the $2 mark. Naturally, defenders linked XRP’s endurance to the perpetual hope that the long-standing lawsuit with the SEC would come to an end next chapter. Speculation around future Ripple-controlled XRP ETFs only added fuel to XRP’s resurgence narrative. Analysts focused on utility, predominantly in the RWA space with Ondo Finance, rationalized Ripple’s strategic partnerships, strengthening optimism overall. Defenders pointed out further upward movements heading toward the $2.50 mark on justified positive momentum.
Cardano Consolidates While Holding Key Support
Cardano garnered support at the $0.60 region, with focus shifting towards the preservation of support in the $0.60-$0.63 vicinity. Moreover, the asset lagged behind Solana and XRP in weekly performance, posting a $0.6295 valuation. While mention of potential Grayscale ETF inclusion offered ADA fundamental support, the crypto lacked immediate catalysts like its other peers. Renewed bullish strength is still seen to be contingent on ADA’s ability to move above critical resistance near $0.70.
Meme Coins Mirror Cautious Market Sentiment
Both tokens closely tracked the maturation phase of the meme coin market while showing speculative interest fueled by ‘fear’ sentiment. Dogecoin (DOGE) was valued at $0.1586, while Shiba Inu (SHIB) was near $0.00001220. While both tokens experienced slight increases in their 24-hour gains, neither coin exhibited strong independent momentum, awaiting market signals. Background narratives such as potential DOGE ETF filings or SHIB’s ecosystem developments (Shibarium, token burns) slowly advanced interest, yet ultimately the coins did not gather enough momentum for stronger price action on this date.
Spotlight on ONDO, SUI, and Mantra’s Aftermath
Ondo (ONDO) is trading roughly around 0.84. It slightly gained after consolidating within the range of $0.87 and $0.90. This level of support is critical for maintaining their bullish momentum. Sui (SUI), trading near $2.14, also saw consolidation following their dominant spot ETF application, which notably includes staking. Sui faced resistance around $2.20-2.30. Mantra (OM), trading around $0.64, remains under the dominating narrative surrounding the fallout from the catastrophic price crash. On April 18th, the CEO announced recovery plans involving token burns and buybacks, aiming to restore confidence while heavily scrutinized due to liquidity risks surrounding some altcoins.
Market Paused at a Crossroads
On April 18, 2025, the cryptocurrency market’s concerns in the aftermath of the Mantra token collapse are evident through the sheer fear and cautious consolidation. The shock, combined with certain macroeconomic factors, showcased a risk-averse trading volume. The attempt for stabilization witnessed a spree of trading volumes while simultaneously dominating over Bitcoin’s trading volume, which was testing resistance levels at the $85k mark. Astoundingly weak market conviction further exemplified an as-is situation. The variable performance decline of Bitcoin and Ethereum showcased losses stemming from weak institutional support across the meme coins. The pause from the entire market showcased an attempt for a high-volume Bitcoin stride, regulatory shifts, or macroeconomic landscape news, which could easily be construed as the market establishing a standstill scenario.
