<img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5Njc5YjEtMzljZi03MmFkLTgyYzYtMTE3MTY4MDM2ZGRl.jpg"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5Njc5YjEtMzljZi03MmFkLTgyYzYtMTE3MTY4MDM2ZGRl.jpg" alt="New Bitcoin price all-time highs could occur in May — Here is why">Key takeaways:<ul><li>Heavy liquidations played a role in Bitcoin&rsquo;s return to $95,000.</li><li>Bitcoin&rsquo;s weakening correlation with stocks highlights its growing independence as an asset.</li><li>Bullish institutional investor positioning contrasts with retail traders&rsquo; caution, supporting a rally above $100,000.</li></ul>Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) gained 11% between April 20 and April 26, demonstrating resilience by holding near its two-month high around $94,000. This relief rally followed signals from the Trump administration about easing import tariffs, as well as strong corporate earnings reports.Investor confidence in Bitcoin was further boosted by a record <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-spot-bitcoin-etfs-consecutive-inflow-week-significant-inflows" rel="null" target="null" text="null" title="null">$3.1 billion in net inflows</a> to spot Bitcoin exchange-traded funds (ETFs) over five days. However, a key BTC derivatives indicator showed signs of bearish momentum, raising questions about whether the $100,000 target is still realistic.Perpetual Bitcoin futures contracts are favored by retail traders because their prices closely track the spot market. A positive funding rate means that buyers pay to maintain their positions, so a reversal in this rate is typically linked to bearish trends.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019679ae-9fb6-7df4-8776-62e5a8841fa0" title="" alt="New Bitcoin price all-time highs could occur in May &mdash; Here is why"><figcaption style="text-align: center;">Bitcoin perpetual futures annualized funding rate. Source: Laevitas.ch</figcaption></figure>The sharp negative funding rates recorded on April 26 are highly unusual during bull markets, as they indicate stronger demand from sellers. This metric has been volatile since April 14, but sellers were caught off guard as Bitcoin&rsquo;s price climbed above $94,000. Since April 21, over $450 million in BTC short positions <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-rallies-as-bulls-eye-100-k-and-bears-rush-to-cover-shorts" rel="null" target="null" text="null" title="null">have been liquidated</a>.Some of the renewed confidence and Bitcoin&rsquo;s price strength can be attributed to the S&amp;P 500&rsquo;s 7.1% weekly gain. However, despite this optimism, US President Donald Trump reportedly said on April 25 that negotiations would depend on China making concessions, causing traders to question the sustainability of recent gains.Companies are now reporting first-quarter earnings from before the escalation of the trade war, so the factors driving the stock market and Bitcoin are different. In fact, Bitcoin&rsquo;s price is no longer closely correlated with the S&amp;P 500.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019679ae-a43d-7f77-9f1f-96fb1fbeafb7" title="" alt="New Bitcoin price all-time highs could occur in May &mdash; Here is why"><figcaption style="text-align: center;">30-day correlation: S&amp;P 500 vs Bitcoin/USD. Source: TradingView / Cointelegraph</figcaption></figure>Currently, the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/how-to-use-crypto-correlation-for-better-risk-management" rel="null" target="null" text="null" title="null">30-day correlation</a> between the S&amp;P 500 and Bitcoin stands at 29%, well below the 60% level seen from March to mid-April. While this lower correlation does not mean a complete decoupling, since investor sentiment is still influenced by macroeconomic factors, it does show that Bitcoin is not simply a proxy for technology stocks.<h2>Bitcoin&rsquo;s status as an independent asset has strengthened</h2>Gold&rsquo;s inability to maintain its bullish momentum after reaching an all-time high of $3,500 on April 22 was also seen as significant for Bitcoin&rsquo;s status as an independent asset class. Some traders had questioned the &ldquo;digital gold&rdquo; narrative, but the longer BTC remains above $90,000, the more confidence investors may have, potentially paving the way for further gains.The increased demand for bearish leverage in perpetual BTC futures does not align with the sentiment of professional traders. Monthly Bitcoin futures contracts avoid fluctuating funding rates, so traders know their leverage costs in advance.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019679ae-a8c2-7650-b677-a50c7254f29a" title="" alt="New Bitcoin price all-time highs could occur in May &mdash; Here is why"><figcaption style="text-align: center;">Bitcoin 2-month futures annualized premium. Source: Laevitas.ch</figcaption></figure>On April 26, the two-month Bitcoin futures premium (basis rate) rose to its highest level in seven weeks, indicating greater interest in bullish positions. At 6.5%, this metric remains within the neutral 5% to 10% range, but is moving away from bearish territory.The disconnect between leverage demand in perpetual futures and monthly BTC contracts is not unusual. Even if retail traders remain cautious, substantial <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/5-bitcoin-charts-predicting-100k-btc-price-by-may" rel="null" target="null" text="null" title="null">accumulation by institutions</a> could be enough to push Bitcoin&rsquo;s price above $100,000 in the near future.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author&rsquo;s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template>

Key takeaways:

Heavy liquidations played a role in Bitcoin’s return to $95,000.

Bitcoin’s weakening correlation with stocks highlights its growing independence as an asset.

Bullish institutional investor positioning contrasts with retail traders’ caution, supporting a rally above $100,000.

Bitcoin (BTC) gained 11% between April 20 and April 26, demonstrating resilience by holding near its two-month high around $94,000. This relief rally followed signals from the Trump administration about easing import tariffs, as well as strong corporate earnings reports.
Investor confidence in Bitcoin was further boosted by a record $3.1 billion in net inflows to spot Bitcoin exchange-traded funds (ETFs) over five days. However, a key BTC derivatives indicator showed signs of bearish momentum, raising questions about whether the $100,000 target is still realistic.
Perpetual Bitcoin futures contracts are favored by retail traders because their prices closely track the spot market. A positive funding rate means that buyers pay to maintain their positions, so a reversal in this rate is typically linked to bearish trends.
Bitcoin perpetual futures annualized funding rate. Source: Laevitas.ch
The sharp negative funding rates recorded on April 26 are highly unusual during bull markets, as they indicate stronger demand from sellers. This metric has been volatile since April 14, but sellers were caught off guard as Bitcoin’s price climbed above $94,000. Since April 21, over $450 million in BTC short positions have been liquidated.
Some of the renewed confidence and Bitcoin’s price strength can be attributed to the S&P 500’s 7.1% weekly gain. However, despite this optimism, US President Donald Trump reportedly said on April 25 that negotiations would depend on China making concessions, causing traders to question the sustainability of recent gains.
Companies are now reporting first-quarter earnings from before the escalation of the trade war, so the factors driving the stock market and Bitcoin are different. In fact, Bitcoin’s price is no longer closely correlated with the S&P 500.
30-day correlation: S&P 500 vs Bitcoin/USD. Source: TradingView / Cointelegraph
Currently, the 30-day correlation between the S&P 500 and Bitcoin stands at 29%, well below the 60% level seen from March to mid-April. While this lower correlation does not mean a complete decoupling, since investor sentiment is still influenced by macroeconomic factors, it does show that Bitcoin is not simply a proxy for technology stocks.
Bitcoin’s status as an independent asset has strengthened
Gold’s inability to maintain its bullish momentum after reaching an all-time high of $3,500 on April 22 was also seen as significant for Bitcoin’s status as an independent asset class. Some traders had questioned the “digital gold” narrative, but the longer BTC remains above $90,000, the more confidence investors may have, potentially paving the way for further gains.
The increased demand for bearish leverage in perpetual BTC futures does not align with the sentiment of professional traders. Monthly Bitcoin futures contracts avoid fluctuating funding rates, so traders know their leverage costs in advance.
Bitcoin 2-month futures annualized premium. Source: Laevitas.ch
On April 26, the two-month Bitcoin futures premium (basis rate) rose to its highest level in seven weeks, indicating greater interest in bullish positions. At 6.5%, this metric remains within the neutral 5% to 10% range, but is moving away from bearish territory.
The disconnect between leverage demand in perpetual futures and monthly BTC contracts is not unusual. Even if retail traders remain cautious, substantial accumulation by institutions could be enough to push Bitcoin’s price above $100,000 in the near future.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Bitcoin's price surge to $95,000, driven by heavy liquidations and institutional bullishness, suggests potential new all-time highs in May, supported by its decoupling from traditional stocks and strong investor confidence.  

New Bitcoin price all-time highs could occur in May — Here is why

Spot Bitcoin ETFs saw a reversal of fortune last week, as a wave of institutional cash flooded into the market after weeks of lukewarm demand. Over the week between April 21 and April 25, spot Bitcoin ETFs accumulated just over $3 billion in net inflows, a significant sum that dwarfed the trickle of investments the [&#8230;]
The post <a href="https://cryptoslate.com/bitcoin-etf-demand-skyrockets-on-price-breakout-leading-to-largest-flows-in-2025/">Bitcoin ETF demand skyrockets on price breakout leading to largest flows in 2025</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.

Spot Bitcoin ETFs saw a reversal of fortune last week, as a wave of institutional cash flooded into the market after weeks of lukewarm demand. Over the week between April 21 and April 25, spot Bitcoin ETFs accumulated just over $3 billion in net inflows, a significant sum that dwarfed the trickle of investments the […]
The post Bitcoin ETF demand skyrockets on price breakout leading to largest flows in 2025 appeared first on CryptoSlate.

** Spot Bitcoin ETFs experienced a dramatic surge in demand, with net inflows reaching over $3 billion between April 21 and April 25, marking a significant rebound after weeks of subdued interest. This influx was driven by institutional investors capitalizing on a Bitcoin price breakout, signaling strong market confidence and setting the stage for record flows in 2025.  

Bitcoin ETF demand skyrockets on price breakout leading to largest flows in 2025

<img width="768" height="432" src="https://static.news.bitcoin.com/wp-content/uploads/2025/04/coinbase-bitcoin-yield-fund-768x432.jpg" class="attachment-medium_large size-medium_large wp-post-image" alt="Coinbase Launches Bitcoin Yield Fund Targeting 8% With Minimal Risk" decoding="async" style="float:left; margin:0 15px 15px 0;" srcset="https://static.news.bitcoin.com/wp-content/uploads/2025/04/coinbase-bitcoin-yield-fund-300x169.jpg 300w, https://static.news.bitcoin.com/wp-content/uploads/2025/04/coinbase-bitcoin-yield-fund-1024x576.jpg 1024w, https://static.news.bitcoin.com/wp-content/uploads/2025/04/coinbase-bitcoin-yield-fund-768x432.jpg 768w, https://static.news.bitcoin.com/wp-content/uploads/2025/04/coinbase-bitcoin-yield-fund-190x107.jpg 190w, https://static.news.bitcoin.com/wp-content/uploads/2025/04/coinbase-bitcoin-yield-fund-380x214.jpg 380w, https://static.news.bitcoin.com/wp-content/uploads/2025/04/coinbase-bitcoin-yield-fund-760x428.jpg 760w, https://static.news.bitcoin.com/wp-content/uploads/2025/04/coinbase-bitcoin-yield-fund.jpg 1280w" sizes="(max-width: 768px) 100vw, 768px" />Coinbase unleashes a game-changing Bitcoin Yield Fund, offering powerful returns with minimized risk, revolutionizing institutional crypto investing and setting a new gold standard for secure yield. Coinbase Launches Bitcoin Yield Fund, Avoiding High-Risk Loans and Call Selling Crypto exchange Coinbase (Nasdaq: COIN) announced on April 28 the launch of the Coinbase Bitcoin Yield Fund (CBYF), [&#8230;]

Coinbase unleashes a game-changing Bitcoin Yield Fund, offering powerful returns with minimized risk, revolutionizing institutional crypto investing and setting a new gold standard for secure yield. Coinbase Launches Bitcoin Yield Fund, Avoiding High-Risk Loans and Call Selling Crypto exchange Coinbase (Nasdaq: COIN) announced on April 28 the launch of the Coinbase Bitcoin Yield Fund (CBYF), […]

Coinbase has introduced the Coinbase Bitcoin Yield Fund (CBYF), targeting an 8% annual yield with a focus on minimizing risk by avoiding high-risk loans and call selling. This new fund aims to attract institutional investors by offering a secure and lucrative way to earn returns on Bitcoin holdings.  

Coinbase Launches Bitcoin Yield Fund Targeting 8% With Minimal Risk

<img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjdkNjYtODY4My03NGVlLWI2NmUtNDYzNGUyNDhlYjIx.jpg"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjdkNjYtODY4My03NGVlLWI2NmUtNDYzNGUyNDhlYjIx.jpg" alt="BONK price gains 60% in a week as Solana memecoins make a comeback">Key takeaways:<ul><li>BONK price is up 73% since April 22, hitting a five-month high of $0.00002167.</li><li>BONK&rsquo;s open interest surged 290% to $43.2 million.&nbsp;</li></ul>Bonk (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bonk-price-index" rel="null" target="null" text="null" title="null">BONK</a>), the second-largest Solana-based memecoin by market capitalization, is on track to continue the recovery it began on April 22. BONK has climbed approximately 73% from its April 22 low of around $0.00001247, bringing its price up to an intraday high of $0.00002167 on April 28.Data from <a data-ct-non-breakable="null" href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA.." rel="null" target="null" text="null" title="null">Cointelegraph Markets Pro</a> and <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="null" target="null" text="null" title="null">TradingView</a> shows BONK trading at $0.00001923, up 3% over the 24 hours and 60% over the last seven days.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01967d64-13cf-758e-86c9-fc8577fda7a5" title="" alt="BONK price gains 60% in a week as Solana memecoins make a comeback"><figcaption style="text-align: center;">BONK/USD daily chart. Source: Cointelegraph/<a data-ct-non-breakable="null" href="https://www.tradingview.com/x/jjwIiSV9/" rel="null" target="null" text="null" title="null">TradingView</a></figcaption></figure>BONK&rsquo;s trading volume has jumped 98% over the last 24 hours to $478 million, and its market capitalization also jumped, briefly touching $1.7 billion on April 28, before retracing to the current level of $1.5 billion.Let&rsquo;s examine the factors that have fueled BONK's price momentum over the last week.<h2>Memecoins recover across the board</h2>BONK&rsquo;s rally over the last seven days mirrors the bullish price movements across the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/why-is-the-crypto-market-up-today" rel="null" target="null" text="null" title="null">broader crypto market,</a> including the memecoin sector. Most memecoins have posted double-digit gains over the last week. DOGE and Shiba Inu (<a data-ct-non-breakable="null" href="https://cointelegraph.com/shiba-inu-price-index" rel="null" target="null" text="null" title="null">SHIB</a>), the leading <a data-ct-non-breakable="null" href="https://cointelegraph.com/price-indexes/memecoins" rel="null" target="null" text="null" title="null">memecoins</a>, have jumped 3% and 5% over the last seven days.&nbsp;Official Trump (TRUMP), the memecoin associated with US President Donald Trump, has recorded 73% weekly gains, while Base&rsquo;s Brett (<a data-ct-non-breakable="null" href="https://cointelegraph.com/brett-price-index" rel="null" target="null" text="null" title="null">BRETT</a>) has rallied 83% over the same period.&nbsp;<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01967d64-186f-7260-ab90-91d0dacd4ec1" title="" alt="BONK price gains 60% in a week as Solana memecoins make a comeback"><figcaption style="text-align: center;">Performance of top-cap memecoins. Source: CoinMarketCap</figcaption></figure>This widespread rally has pushed the total memecoin market value to $55.51 billion, a 17.5% leap in the past week, as per CoinMarketCap data.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01967d64-1d39-706c-959c-288e79692e02" title="" alt="BONK price gains 60% in a week as Solana memecoins make a comeback"><figcaption style="text-align: center;">Memecoin market cap and volume. Source: CoinMarketCap</figcaption></figure>Over $7.96&nbsp;billion in memecoin trading volume was recorded in the past seven days alone, representing an 85% weekly change. The resurgence is driven by investors once again embracing risk-on assets like memecoins.<h2>Increasing open interest backs BONK&rsquo;s rally</h2>The surge in the price of Bonk over the last seven days comes after a significant jump in its <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/what-is-open-interest-in-the-crypto-futures-market" rel="null" target="null" text="null" title="null">open interest</a> (OI).&nbsp;BONK&rsquo;s total OI on all exchanges rose 290% from $11 million on April 22 to $43.2 million on April 26. Although this metric has since dropped to $28 million at the time of writing, it remains significantly higher than the OI seen since December 2024.Rising open interest reflects growing trader participation in BONK futures, indicating heightened speculative activity.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01967d64-2172-7704-add3-1a9f06c8095c" title="" alt="BONK price gains 60% in a week as Solana memecoins make a comeback"><figcaption style="text-align: center;">BONK open interest across all exchanges. Source: CoinGlass</figcaption></figure>Data from CoinGlass shows increasing demand for leveraged long positions in BONK over the last few days, as indicated by the OI-weighted futures funding rate.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01967d64-259f-7183-80fb-09dd8e705d25" title="" alt="BONK price gains 60% in a week as Solana memecoins make a comeback"><figcaption style="text-align: center;">BONK average perpetual contracts 8-hour funding rate. Source: CoinGlass</figcaption></figure>Increasing <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/funding-rates-in-crypto-markets#:~:text=The%20impact%20of%20funding%20rates,hinting%20that%20prices%20could%20fall." rel="null" target="null" text="null" title="null">funding rates</a> usually suggest that futures traders are bullish, expecting future price increases, which may indicate a continuation of the uptrend.BONK's social dominance remains high, suggesting high social activity. Santiment data shows BONK&rsquo;s social dominance spiking from 0.091% to 0.572% between April 20 and April 26, driven by BONK&rsquo;s ecosystem buzz.&nbsp;<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01967d64-2a4c-7372-8fe2-32bddce89865" title="" alt="BONK price gains 60% in a week as Solana memecoins make a comeback"><figcaption style="text-align: center;">BONK social dominance and volume. Source: Santiment</figcaption></figure>This surge in chatter on social media platforms reflects rising retail and institutional interest, amplifying FOMO and driving demand.<h2>BONK breaks out of a multimonth downtrend</h2>On April 13, BONK price broke out of a descending parallel channel, igniting strength that saw it flip the 50-day and 100-day exponential moving averages (EMAs) to support.&nbsp;The bulls will likely continue the rebound toward the significant resistance level at $0.00002410 (200-day SMA) in the short term. A daily candlestick close above this level, accompanied by high volume, could see BONK rise toward the Jan. 19 range high near $0.000040. This would represent a 104% increase from the current price.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01967d64-2f44-7108-a35e-1f123f36a623" title="" alt="BONK price gains 60% in a week as Solana memecoins make a comeback"><figcaption style="text-align: center;">BONK/USD daily chart. Source: Cointelegraph/<a data-ct-non-breakable="null" href="https://www.tradingview.com/x/6iEyURpA/" rel="null" target="null" text="null" title="null">TradingView</a></figcaption></figure>The sharp rise in the relative strength index and its position at 71 in the overbought region reinforces the buyers&rsquo; dominance in the market.&nbsp;However, the overbought conditions could facilitate profit-taking, occasioning a slight correction before BONK continues its uptrend.&nbsp;&ldquo;$BONK&rsquo;s descending trendline got cleared,&rdquo; <a data-ct-non-breakable="null" href="https://x.com/WorldOfCharts1/status/1916593872563503148" rel="null" target="null" text="null" title="null">declared</a> popular analyst World of Charts in an April 28 post on X, &ldquo;expecting 2x in the coming days.&rdquo;Meanwhile, Crypto Joe <a data-ct-non-breakable="null" href="https://x.com/CryptoJoeReal/status/1916730349465317555" rel="null" target="null" text="null" title="null">spotted</a> BONK breaking out of a bullish pennant in the 30-minute timeframe targeting $0.00002690.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/01967d64-340c-72d0-8d23-1c9c96d3b534" title="" alt="BONK price gains 60% in a week as Solana memecoins make a comeback"><figcaption style="text-align: center;">Source: <a data-ct-non-breakable="null" href="https://x.com/CryptoJoeReal/status/1916730349465317555" rel="null" target="null" text="null" title="null">Crypto Joe</a></figcaption></figure>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template>

Key takeaways:

BONK price is up 73% since April 22, hitting a five-month high of $0.00002167.

BONK’s open interest surged 290% to $43.2 million. 

Bonk (BONK), the second-largest Solana-based memecoin by market capitalization, is on track to continue the recovery it began on April 22. BONK has climbed approximately 73% from its April 22 low of around $0.00001247, bringing its price up to an intraday high of $0.00002167 on April 28.
Data from Cointelegraph Markets Pro and TradingView shows BONK trading at $0.00001923, up 3% over the 24 hours and 60% over the last seven days.
BONK/USD daily chart. Source: Cointelegraph/TradingView
BONK’s trading volume has jumped 98% over the last 24 hours to $478 million, and its market capitalization also jumped, briefly touching $1.7 billion on April 28, before retracing to the current level of $1.5 billion.
Let’s examine the factors that have fueled BONK's price momentum over the last week.
Memecoins recover across the board
BONK’s rally over the last seven days mirrors the bullish price movements across the broader crypto market, including the memecoin sector. Most memecoins have posted double-digit gains over the last week. DOGE and Shiba Inu (SHIB), the leading memecoins, have jumped 3% and 5% over the last seven days. 
Official Trump (TRUMP), the memecoin associated with US President Donald Trump, has recorded 73% weekly gains, while Base’s Brett (BRETT) has rallied 83% over the same period. 
Performance of top-cap memecoins. Source: CoinMarketCap
This widespread rally has pushed the total memecoin market value to $55.51 billion, a 17.5% leap in the past week, as per CoinMarketCap data.
Memecoin market cap and volume. Source: CoinMarketCap
Over $7.96 billion in memecoin trading volume was recorded in the past seven days alone, representing an 85% weekly change. The resurgence is driven by investors once again embracing risk-on assets like memecoins.
Increasing open interest backs BONK’s rally
The surge in the price of Bonk over the last seven days comes after a significant jump in its open interest (OI). 
BONK’s total OI on all exchanges rose 290% from $11 million on April 22 to $43.2 million on April 26. Although this metric has since dropped to $28 million at the time of writing, it remains significantly higher than the OI seen since December 2024.
Rising open interest reflects growing trader participation in BONK futures, indicating heightened speculative activity.
BONK open interest across all exchanges. Source: CoinGlass
Data from CoinGlass shows increasing demand for leveraged long positions in BONK over the last few days, as indicated by the OI-weighted futures funding rate.
BONK average perpetual contracts 8-hour funding rate. Source: CoinGlass
Increasing funding rates usually suggest that futures traders are bullish, expecting future price increases, which may indicate a continuation of the uptrend.
BONK's social dominance remains high, suggesting high social activity. Santiment data shows BONK’s social dominance spiking from 0.091% to 0.572% between April 20 and April 26, driven by BONK’s ecosystem buzz. 
BONK social dominance and volume. Source: Santiment
This surge in chatter on social media platforms reflects rising retail and institutional interest, amplifying FOMO and driving demand.
BONK breaks out of a multimonth downtrend
On April 13, BONK price broke out of a descending parallel channel, igniting strength that saw it flip the 50-day and 100-day exponential moving averages (EMAs) to support. 
The bulls will likely continue the rebound toward the significant resistance level at $0.00002410 (200-day SMA) in the short term. A daily candlestick close above this level, accompanied by high volume, could see BONK rise toward the Jan. 19 range high near $0.000040. This would represent a 104% increase from the current price.
BONK/USD daily chart. Source: Cointelegraph/TradingView
The sharp rise in the relative strength index and its position at 71 in the overbought region reinforces the buyers’ dominance in the market. 
However, the overbought conditions could facilitate profit-taking, occasioning a slight correction before BONK continues its uptrend. 
“$BONK’s descending trendline got cleared,” declared popular analyst World of Charts in an April 28 post on X, “expecting 2x in the coming days.”
Meanwhile, Crypto Joe spotted BONK breaking out of a bullish pennant in the 30-minute timeframe targeting $0.00002690.
Source: Crypto Joe
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

BONK, a Solana-based memecoin, has surged 73% in price since April 22, reaching a five-month high of $0.00002167, with open interest skyrocketing by 290% to $43.2 million, signaling a strong recovery in the Solana memecoin market.  

BONK price gains 60% in a week as Solana memecoins make a comeback

Bitcoin is trading slightly above $95,000 as the new week kicks off with rising expectations. After months of volatility and uncertainty, BTC has started to show signs of strength, breaking above the critical $90K mark — a major pivot zone for market sentiment. Bulls are now in short-term control, fueling hopes for a larger recovery [&#8230;]

Bitcoin is trading slightly above $95,000 as the new week kicks off with rising expectations. After months of volatility and uncertainty, BTC has started to show signs of strength, breaking above the critical $90K mark — a major pivot zone for market sentiment. Bulls are now in short-term control, fueling hopes for a larger recovery […]

Bitcoin has surpassed the $95,000 mark, signaling a potential shift in market sentiment as short-term balances surge. After prolonged volatility, the breakout above the key $90,000 level has given bulls temporary control, sparking optimism for a broader recovery.  

Bitcoin Short-Term Balances Surge – Relief Rally Or Something Bigger?

Daily price action in the SOL/BTC pair is beginning to paint a sharply different picture from the one that dominated the first quarter, according to a chart shared on Sunday by veteran trader Josh Olszewicz. The one-day chart sets out a textbook inverse-head-and-shoulders (iHS) basing pattern that has been forming since early March and is now approaching the neckline around 0.00162 BTC. At the time of the screenshot, SOL was quoted at 0.001588 BTC. With bitcoin changing hands near $94,765, that places Solana at roughly $150 per coin. The anatomy of the pattern is hard to miss: a March 19 low at 0.00127 BTC ($120) forms the head, flanked by higher swing lows on March 11 left shoulder). The left shoulders is currently in the process of forming. The horizontal neckline aligns with the late-December floor that broke down in February, converting sturdy support into equally sturdy resistance. Measured from the head to the neckline, the amplitude is roughly 0.00033 BTC; a clean breakout would imply a technical objective near 0.00195 BTC—conveniently the lower boundary of the Kumo cloud’s far edge. Solana Bulls Have A Target The chart is overlaid with a long-look Ichimoku configuration (20/60/120/30). At the latest close the Tenkan-sen sat at 0.00150 BTC, the Kijun-sen exactly on the neckline at 0.00162 BTC, and Senkou Span A printed 0.001742 BTC while Span B held higher at 0.002159 BTC. The cloud itself remains bearish—thick, red and overhead—yet the span differential is beginning to compress, signalling waning downward momentum. A decisive push into the Kumo would trigger the classic Ichimoku edge-to-edge trade, targeting Span B at roughly 0.00216 BTC (about $205). Related Reading: Solana Will Face A Pivotal Moment In May – Bear Market Bounce Or Bull Market Dip? The bullish setup is occurring only two months after the market completed the mirror image of the same pattern. From mid-December to early-February, SOL/BTC carved out a prominent head-and-shoulders, lost the neckline in early February and cascaded directly to March’s iHs. That down-and-up symmetry gives extra weight to the current formation by demonstrating how faithfully the pair has respected classical geometry during the past half-year. “1D SOL/BTC – iHS + E2E at some point but not soon, probably late May,” Olszewicz wrote on X. The analyst’s caution reflects the fact that price is still beneath both the neckline and the Kijun-sen, and the Kumo does not thin materially until the final week of May. A premature break attempt risks rejection into a final right-shoulder retest near 0.00151 BTC ($143), which is also where the Tenkan-sen currently resides. Notably, the Chikou Span (lagging line) remains below price and cloud, emphasising that trend confirmation is pending; both Ichimoku purists and pattern traders could therefore agree that 0.00162 BTC is the line Solana bulls must flip decisively. Related Reading: Solana (SOL) Holding Strong Above $150 — Breakout Zone In Play If the edge-to-edge objective is achieved, SOL would add roughly 26 % against Bitcoin from present levels and reclaim ground last seen in early February. Should the neckline reject yet again, downside protection is thin until the twin shoulders at 0.00145–0.00148 BTC; a break of that shelf would invalidate the bullish thesis and reopen the March trough. For now, the market is content to coil beneath resistance while the clock ticks toward the cloud’s inflection. Whether Olszewicz’s late-May timetable proves prescient will depend on Bitcoin’s own trajectory and the broader risk environment, but the price structure on the Solana/Bitcoin chart is clear: after a bruising winter, the bulls finally have a pattern worth defending. At press time, SOL traded at $149. Featured image created with DALL.E, chart from TradingView.com

A top analyst suggests Solana (SOL) could dominate the markets next month, citing a bullish inverse-head-and-shoulders pattern forming in the SOL/BTC pair since early March. The pattern is nearing its neckline at 0.00162 BTC, with SOL currently trading at 0.001588 BTC, while Bitcoin hovers around $94,765.  

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