Crypto Daybook Americas: Bitcoin Remains Steady After Pro-Bitcoin Candidate Defeated in Canada
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Crypto Daybook Americas: Bitcoin Remains Steady After Pro-Bitcoin Candidate Defeated in Canada

A snapshot of the crypto market development for April 29, 2025, highlighting Bitcoin's stability post-election.

Overview

This article encapsulates the key happenings in the cryptocurrency market as of April 29, 2025. Notably, Bitcoin (BTC) continues to hover near the $95,000 threshold, showing resilience despite the recent electoral outcomes in Canada, where a pro-BTC candidate was defeated.

Market Insights

Bitcoin’s price stability appears unaffected by the recent Canadian elections where Conservative Leader Pierre Poilievre, known for his favorable stance on cryptocurrencies, lost his seat. This shift could suggest broader implications for crypto policies in Canada.

Key macroeconomic indicators are anticipated this week, with significant attention on the forthcoming non-farm payrolls report expected on Friday, which could influence Bitcoin’s trajectory moving forward.

Further, Bitcoin’s hashrate is approaching its peak, yet indications show it may be slowing down, while miners are expected to gain relief from a projected difficulty adjustment.

Upcoming Data & Events

Keep an eye on the macroeconomic data including personal spending and GDP growth statistics. Notably, the earnings season is heating up with major technology firms such as Microsoft and Meta set to report.

On the Crypto Radar

  1. April 30, 9:30 AM: ProShares plans to launch three ETFs aimed at providing various exposures to XRP.
  2. April 30, 10:03 AM: Gnosis Chain will activate a significant hard fork on its mainnet.
  3. May 1: Coinbase will introduce a Bitcoin Yield Fund targeted at non-U.S. investors.

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Technical Analysis

Bitcoin’s recent pattern shows signs of potential consolidation, with key resistance at $95,500. A decisive move above this level could signal further bullish momentum.

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