Bitcoin Tests $85k, Major Investments Flow, EigenLayer Activates Slashing – April 18, 2025
While the traditional Indian stock markets (NSE/BSE) take a pause today for Good Friday, the global crypto market never sleeps. Today’s landscape shows Bitcoin teasing higher levels, significant investment moves from major players, and key technical developments within the Ethereum ecosystem.
Bitcoin Touches $85k, Gold Correlation Eyed
Early today, Bitcoin (BTC) briefly surpassed the $85,000 USDT mark, according to Binance data, offering a glimmer of upward momentum. While it has since settled slightly below that level (trading around ₹72.3 – ₹72.5 Lakhs), the move keeps traders watching closely.
Adding to the long-term discussion, analysis highlighted by PANews revisited the historical correlation between gold and Bitcoin. With gold hitting record highs recently ($3,357/ounce on April 17th), some analysts speculate if Bitcoin might follow with a significant rally later this year, possibly in Q3 or Q4, based on past patterns where Bitcoin lagged gold’s major upward moves by several months.
Big Players Make Moves: a16z, ARK Invest, Fidelity
Institutional and major investor activity remains a key theme:
- a16z Backs LayerZero: Prominent venture capital firm a16z Crypto announced an additional $55 million investment in LayerZero (ZRO) tokens, signalling strong conviction in the cross-chain communication protocol’s future role in the evolving financial system. The investment comes with a three-year lock-up period.
- ARK Invest Shuffles Holdings: Cathie Wood’s ARK Invest reported portfolio adjustments made on April 17th. The firm sold approximately $3.35 million worth of its own ARK 21Shares Bitcoin ETF (ARKB) but simultaneously invested around $4.95 million into the 3IQ Solana Staking ETF (SOLQ), indicating active management and perhaps increased interest in yield-bearing crypto assets like staked Solana.
- Fidelity Sees Inflows: Fidelity’s spot Bitcoin ETF (FBTC) recorded a healthy net inflow of $25.9 million yesterday, suggesting continued investor interest in accessing Bitcoin via traditional ETF structures.
- Advisors Warming Up: Reflecting a broader trend, a recent survey by Bitwise (reported via Mint/Barrons) found that 22% of financial advisors are now allocating client funds to crypto, double the 11% reported a year ago, boosted by ETF approvals and a potentially friendlier US regulatory outlook.
Ethereum Ecosystem Update: EigenLayer Activates Slashing
In a significant technical development for the Ethereum ecosystem, the popular re-staking protocol EigenLayer announced the activation of its slashing mechanism on the mainnet. Slashing imposes penalties on validators who act maliciously or negligently, aiming to enhance the security and reliability of the network services secured by EigenLayer.
Altcoin Arena Remains Mixed
The broader altcoin market shows mixed performance. BNB dipped below 590 USDT overnight, while coins like XRP and Dogecoin saw slight declines. Solana (SOL) maintained its level around ₹11,300-₹11,400 INR following the news of ARK Invest’s interest.
Final Thoughts
Today’s crypto scene offers a blend of cautious market movement alongside tangible signs of growing infrastructure maturity (EigenLayer) and continued investment flow from major entities (a16z, Fidelity, ARK). While Bitcoin tests resistance, the underlying developments suggest the ecosystem is still actively building and attracting capital. As always, navigate these dynamic markets with care.
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Cryptocurrency investments 1 are highly volatile and carry significant risks. Always conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions.
