SoSo Daily Apr 21 | Bitcoin breaks through $87,000, analysts say it's too early to call a bull market

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Loom Network (NEW). As of 12:00 today, its market cap is 38.67M, with a coin price of 0.031110 USD, witnessing a 24-hour increase of 126%.
The second is Function X. As of 12:00 today, its coin price is 0.11310 USD, with a 24-hour increase of 124%.
The third is LUCE. As of 12:00 today, its coin price is 0.016460 USD, showing a 24-hour increase of 80.7%.
In fourth place is Magic. As of 12:00 today, its coin price is 0.24940 USD, with a 24-hour rise of 80.6%.
In fifth place is Enjin Coin. As of 12:00 today, its coin price is 0.10733 USD, increasing by 64.6% over the last 24 hours.




Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The price of Bitcoin has surpassed $87,000, reaching a new high in several weeks, driven by increased global liquidity and renewed institutional interest. However, analysts believe it is still too early to talk about the next bull market. Bitcoin's price has risen more than 2.4% in the past 24 hours, reaching $87,325, marking the first time it has breached the $87,000 threshold since April 2. Previously, the price of Bitcoin had dropped to $74,500 due to tariff policies pushed by U.S. President Trump. The increase in the global M2 money supply and interest from institutional investors are considered the main factors driving the rise in Bitcoin's price. Nevertheless, analysts warn that uncertainties in trade negotiations and high yields remain potential risks for the market.
Next news:Ethereum co-founder Vitalik Buterin proposed a long-term plan at the Ethereum Magicians forum to replace the bytecode of the Ethereum Virtual Machine (EVM) with the open-source RISC-V architecture to improve the scalability of the blockchain network. Buterin stated that this radical change might be the only viable way for the execution layer to gain similar simplification benefits as the consensus layer.
Next news:

Foresight News reports that, according to Onchain Lens monitoring, a certain whale has spent approximately 7 million USD to purchase 4,244 $ETH at an average price of 1,649 USD, and has transferred 1,500 $ETH to MEXC. Currently, this whale still holds 2,764 $ETH, valued at about 4.55 million USD.

Foresight News reports that, according to Onchain Lens monitoring, a certain whale has spent approximately 7 million USD to purchase 4,244 $ETH at an average price of 1,649 USD, and has transferred 1,500 $ETH to MEXC. Currently, this whale still holds 2,764 $ETH, valued at about 4.55 million USD.

Next news:
Next news:On April 21, after the news of Pope Francis's passing broke, the LUCE token surged by 70% in a short time, with its market capitalization exceeding 15 million USD, but it has since fallen back to 13.87 million USD. Previously, the LUCE token had experienced a single-day drop of 74.54% on April 19, rapidly shrinking its market value. On-chain data shows that an early whale account accrued paper profits of 5.20 million USD but failed to sell in time, ultimately incurring a loss of 335 thousand USD. The community suspects that the cause of the crash may have been due to a large holder selling off their assets. The LUCE token was launched on the Solana blockchain in October 2024, inspired by the Vatican's mascot "Luce" designed for the Holy Year in 2025. The token quickly became a dual symbol of "religion + wealth," with its market cap once exceeding 77 million USD. The news of the Pope's death has once again sparked a new batch of Meme coins; memes remain memes, capitalizing on all attention without boundaries or limits.
Next news:

According to Foresight News, monitored by Onchain Lens, a certain whale deposited 5.10 million USDC into HyperLiquid and placed short orders for HYPE between $18.5 and $18.9.

According to Foresight News, monitored by Onchain Lens, a certain whale deposited 5.10 million USDC into HyperLiquid and placed short orders for HYPE between $18.5 and $18.9.

Next news:

Bybit exchange has suffered a $1.4 billion cryptocurrency theft incident, with approximately 27.59% of the funds having "disappeared," flowing into P2P and OTC platforms. Bybit CEO Ben Zhou stated that 68.57% of the stolen funds are still traceable, while 3.84% have been frozen. The hackers primarily laundered the money through the Bitcoin mixer Wasabi and utilized various cross-chain and exchange services. Bybit encourages on-chain bounty hunters to assist in freezing the stolen funds and has already rewarded $2.30 million. The privacy trading platform eXch will cease operations on May 1 due to alleged money laundering. Chainflip DEX has suspended its platform to prevent the hackers from taking advantage, while THORChain has chosen not to take action.

Next news:Japanese investment company Metaplanet announced the purchase of an additional 330 bitcoins, valued at $28.20 million. This marks the company's third bitcoin purchase this month, despite uncertainty in the market due to U.S. tariff measures. The average purchase price for this acquisition was 12.18 million yen (approximately $85,605) per bitcoin. Bitcoin prices have surpassed $87,000 for the first time since April 2, currently trading at $87,279. Metaplanet has adopted a bitcoin accumulation strategy since April 2024, continuing its purchases despite the market decline following the U.S. tariff announcement. In April, Metaplanet purchased 809 bitcoins with a goal of reaching 10,000 bitcoins by the end of the year. Metaplanet currently holds 4,855 bitcoins, with an average purchase price of $89,928, making it the largest corporate holder of bitcoin in Asia and the tenth largest globally. Meanwhile, Michael Saylor's Strategy company purchased 3,459 bitcoins last week, bringing its total holdings to 531,644 bitcoins. Saylor stated on social media platform X that tariffs would not affect the company's bitcoin purchases. Strategy has recorded an unrealized loss of $5.91 billion in its bitcoin holdings for the first quarter of this year. Metaplanet's stock on the Tokyo Stock Exchange rose by 0.85%, with a 1,086% increase in share price over the past year.
Next news:

According to an official announcement from Wu Shuo, Binance will transfer the following tokens from users' Binance Alpha accounts to their spot accounts between April 22, 2025, 16:00 (UTC+8) and April 22, 2025, 20:00 (UTC+8). The tokens include BIGTIME, VIRTUAL, ONDO, TUT, MUBARAK, and BROCCOLI. Users will be able to trade, deposit, or withdraw these tokens through networks supported by Binance.

Next news:

According to Wu's report, based on monitoring by Lookonchain, a certain wallet withdrew 2.90 million OM from Binance a month ago at a price of $6.46, valued at approximately $18.70 million. 14 hours ago, the wallet deposited 1.72 million OM (around $1 million) back into Binance, currently incurring a loss of about $17 million.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.