Here’s a quick recap of the crypto landscape for Wednesday (April 23) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
At the time of this writing, Bitcoin (BTC) was priced at US$94,294.96 and is up 4.4 percent in 24 hours. The day’s range has seen a low of US$89,896.28 and a high of US$94,320.19.
Bitcoin performance, April 23, 2025.
Chart via TradingView.
Trade tension escalation between China and the US continues to drag on the crypto market.
Altcoin price update
- Solana (SOL) is currently valued at US$152.37, up 5.79 percent over the past 24 hours. SOL experienced a low of US$142.88 and peaked at $153.47.
- XRP is trading at US$2.29, reflecting a 7.3 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$2.13 and reached its highest point at US$2.30.
- Sui (SUI) is priced at US$2.91, showing an increaseof 25.5 percent over the past 24 hours. It achieved a daily low of US$2.37 and a high of US$2.97.
- Cardano (ADA) is trading at US$0.7045, up 9.7 percent over the past 24 hours. Its lowest price on Wednesday was US$0.6483, with a high of US$0.7138.
Today’s crypto news to know
Bitcoin ETFs see US$936 million in daily inflows
US-listed spot Bitcoin exchange-traded funds (ETFs) recorded their strongest day of inflows since January, pulling in a combined US$936 million on Tuesday (April 22) across 10 issuers.
Leading the charge were Ark & 21Shares with US$267.1 million, Fidelity’s FBTC with US$253.8 million and BlackRock’s IBIT, which added US$193.5 million.
Over the past three days, total net inflows into Bitcoin ETFs have surpassed $1.4 billion, signaling renewed institutional confidence in crypto markets. Analysts attribute the momentum to persistent inflation, a weakening US dollar and growing fears over geopolitical instability, prompting investors to turn to Bitcoin as a hedge.
While still volatile, Bitcoin is increasingly being framed as “digital gold,” with ETF flows suggesting it’s becoming a staple in diversified portfolios. This week’s influx also reflects optimism that regulatory conditions are maturing, particularly in the US, where ETFs are rapidly gaining legitimacy among mainstream investors.
Bitcoin becomes fifth largest global asset, overtakes Google
Bitcoin has climbed to a market capitalization of US$1.86 trillion, overtaking Alphabet (NASDAQ:GOOGL) to become the world’s fifth-largest asset by market value. The price of Bitcoin surged past US$94,000, helped by easing trade tensions between the US and China and renewed bullish sentiment across tech and risk-on assets.
This marks a symbolic milestone for the cryptocurrency, which has now outpaced several of the world’s most valuable tech giants. Analysts point to Bitcoin’s increasing correlation with macroeconomic tailwinds — such as falling bond yields and speculative interest in risk assets — as drivers of the recent price action.
Its breakout relative to the Nasdaq also suggests growing investor confidence in crypto as a parallel to tech. If Bitcoin maintains this trajectory, some believe it could soon challenge silver’s position as the fourth-largest global asset.
Trump backs crypto regulation, Trump Media eyes retail crypto products
During a public appearance, US President Donald Trump called for regulatory certainty in the crypto industry and vowed to provide ‘clear rules of the road’ for digital asset innovation.
His statement coincided with Trump Media & Technology Group’s announcement that it will partner with Crypto.com and Yorkville America Digital to launch retail investment products, including crypto-focused ETFs aligned with Trump’s “America First” platform. The planned offerings aim to capitalize on the president’s growing presence in the digital asset space following prior ventures like Trump NFTs and crypto-affiliated partnerships.
While no official ETF filings have been submitted yet, the initiative signals Trump’s commitment to making crypto a policy priority as part of his economic strategy.
Tesla reports US$951 million in Bitcoin holdings despite earnings miss
Tesla (NASDAQ:TSLA) revealed it continues to hold $951 million worth of Bitcoin on its balance sheet, despite posting weaker-than-expected quarterly revenue of US$19.34 billion.
The automaker’s Bitcoin holdings, totaling 11,509 BTC, remained unchanged during the quarter, with no buy or sell activity recorded. This comes as Bitcoin’s price dipped from late December highs, impacting Tesla’s valuation of its digital asset portfolio under the new Financial Accounting Standards Board rules.
These rules now require corporations to mark digital assets to market on a quarterly basis, increasing transparency but also exposing earnings to crypto market volatility. Tesla’s crypto exposure, while relatively small compared to its core business, still makes it one of the top public holders of Bitcoin globally.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
