Solana underperforms significantly with 385bps decline while Bitcoin dominance strengthens to 56.1%
Open interest remains elevated at $18.4B BTC suggesting continued institutional positioning despite flows
Bitcoin consolidates near key support as macro uncertainty weighs
Source: SDM Research · The Block · CoinDesk · Cointelegraph · Blockworks · Summarized by Claude (Anthropic)
Macro & Geopolitical
Global macro conditions remain supportive for risk assets with the 10Y Treasury yield steady at 4.38% and S&P 500 futures indicating modest gains. Dollar strength and elevated bond yields continue to create cross-currents for digital assets as institutional flows turn negative. Gold's risk-off bid to $3,042 suggests underlying uncertainty despite equity market resilience, potentially constraining crypto momentum in the near term.
10Y Treasury
4.38%
+3bps from prior close
S&P 500
5,284
+0.34% pre-market
Gold (XAU)
$3,042
+0.91% (risk-off bid)
US Treasury yields stabilize at 4.38% providing neutral backdrop for crypto positioning
Institutional redemption patterns suggest tactical repositioning rather than structural crypto abandonment
Source: Reuters · Foreign Policy · BBC World · The Guardian · CFR · Summarized by Claude (Anthropic)
Market Overview
Digital assets posted modest declines with Bitcoin down 76bps to $66,857 while altcoins faced broader selling pressure led by Solana's 385bps retreat. Total market capitalization contracted to $2.38T as Bitcoin dominance strengthened to 56.1%, indicating continued flight-to-quality dynamics within the crypto complex.
BTC Technical Analysis — Daily & 4H
$84,250$79,500$65,500$63,000$60,250
EMA 20EMA 50EMA 200
BTC Daily — 90 Days$66,945+0.33%
RSI (14)
BTC 4H — 30 Days$66,945+0.43%
RSI (14)
Source: Kraken Public OHLC API · EMA & RSI computed client-side · Key levels are indicative only
Top Coins — 5-Day Normalized Returns
Hourly close prices for 24 major cryptocurrencies, normalized to percentage change from the start of the 5-day window. Excludes stablecoins (flat line), BNB (not listed on Kraken), and HYPE/USDS/MNT (not available). Data: Kraken public OHLC API.
Done — 24/24 coins loaded
BCH+1.5%
UNI+1.0%
ETH+0.8%
TRX+0.3%
ICP+0.2%
SHIB+0.0%
DOGE-0.3%
PEPE-0.7%
LTC-1.5%
BTC-2.2%
LINK-2.3%
XRP-2.6%
NEAR-2.7%
AVAX-3.3%
XLM-4.6%
TON-4.8%
DOT-5.0%
SUI-5.7%
ADA-6.2%
SOL-6.3%
HBAR-6.7%
AAVE-8.2%
TAO-10.1%
APT-13.8%
Source: Kraken Public OHLC API · Hourly candles · 24 coins · Normalized to % from T-5 days
Top 10 by Market Cap
1. Bitcoin (BTC)
$66,857
2. Ethereum (ETH)
$2,062
4. BNB (BNB)
$608.50
5. XRP (XRP)
$1.32
7. Solana (SOL)
$81.02
8. TRON (TRX)
$0.3112
10. Dogecoin (DOGE)
$0.0905
13. Bitcoin Cash (BCH)
$469.35
15. Cardano (ADA)
$0.2381
16. Hyperliquid (HYPE)
$36.04
Stablecoins — Top 5
Tether (USDT)
$0.9991
USDC (USDC)
$0.9996
USDS (USDS)
$0.9994
Ethena USDe (USDE)
$0.9990
Dai (DAI)
$0.9999
Derivatives — Funding, CME Basis & Open Interest
Funding rates remain elevated with Bitcoin perpetuals at 82bps and Ethereum at 61bps, suggesting persistent long positioning despite recent price weakness. CME basis compressed to 4.20% annualized, indicating reduced institutional premium demand as spot ETF outflows accelerate.
Funding & Basis
BTC Perp Funding (8h)
0.0082%
ETH Perp Funding (8h)
0.0061%
CME Front-Month Basis
4.20%
CME Annualised Premium
6.80%
Open Interest
BTC Open Interest
$18.4B
Perps + Futures
ETH Open Interest
$5.2B
Perps + Futures
ETF Flows & Approval Odds
The ETF complex registered significant outflows totaling $3.41B with Bitcoin products bearing the largest redemption burden at $2.35B. Solana ETF approval odds remain elevated at 72% for 2025 despite recent underperformance, while XRP approval probability strengthens to 81%.
Combined Net ETF Flow Today: -$3,412M USD — BTC + ETH + SOL Spot ETFs
BTC Spot ETFs
IBIT
-$1,551M
FBTC
-$322M
BITB
-$91M
ARKB
-$88M
BTCO
-$23M
EZBC
-$9M
BRRR
-$5M
HODL
-$28M
BTCW
-$1M
GBTC
-$145M
BTC
-$89M
Net Total-$2,350M
ETH Spot ETFs
ETHA
-$680M
FETH
-$61M
ETHW
-$22M
CETH
-$133M
ETHV
-$4M
QETH
-$1M
EZET
-$2M
ETHE
-$42M
ETH
-$79M
Net Total-$1,024M
SOL Spot ETFs
GSOL
-$10M
SOLZ
-$5M
SOLT
-$22M
Net Total-$38M
Polymarket — ETF Approval Probability
SOL ETF Approval (2025)
72%
Possible
XRP ETF Approval (2025)
81%
Likely
Multi-Coin Index ETF (2025)
54%
Possible
Economic Calendar
April Non-Farm Payrolls data on April 3rd and CPI print on April 10th represent key macro catalysts for risk asset positioning.
This brief is prepared for informational purposes only and does not constitute financial advice. Digital assets involve substantial risk. Past performance is not indicative of future results.