The crypto market outlook during the Asian session on April 17 showed both resilience and notable volatility. As Bitcoin (BTC) held firm above $84,000 despite external pressures, altcoins like Raydium (RAY) and Hyperliquid (HYPE) posted impressive double-digit gains.
Meanwhile, Ethereum (ETH) faced resistance, and MANTRA (OM) struggled to regain momentum. The global crypto market cap hovered near $2.66 trillion, 24-hour volume at $75 billion and crypto fear & greed index at 30, signaling fear.
Here’s a wrap for the Asian trading session.
Crypto top gainers/losers today
Per CoinMarketCap, today’s top gainers among 100 largest coins by market during the Asian session are:
Raydium +14%
Hyperliquid +11%
Helium +9%
Crypto top laggards today
The biggest losers in the top 100 cryptocurrencies by market cap were:
MANTRA -10%
Movement -7%
DeXe -4%
Bitcoin holds steady above $84k
Bitcoin maintained its ground above $84k on Thursday, shrugging off selling pressure from the Chinese government’s liquidation of confiscated cryptocurrency holdings.
This move came amid heightened geopolitical tensions, with the White House announcing potential tariffs of up to 245% on Chinese exports to the US. Earlier, global chip stocks had plummeted on Wednesday amid market reaction to tariff actions.
Despite these headwinds, BTC has shown stability, with strong buyer support above the psychological level of $80k. ETF investors year-to-date are largely unfazed by the macroeconomic noise, with Bloomberg’s Eric Balchunas noting this could help Bitcoin price higher.
Ethereum faces $1,600 hurdle
Ethereum (ETH) slipped 1% in the early Asian session on Thursday, hovering just below the $1,600 mark.
The top altcoin’s failure to break through $1,600 suggests a lack of conviction among buyers.If price drops toward the $1,500 support level, ETH could dump to recent lows. The picture changes if catalysts emerge to spark renewed interest.
HYPE and RAY See double-digit gains
Raydium (RAY) soared 12% in 24 hours, fueled by the announcement of LaunchLab, the new meme coin launchpad by Raydium.
The platform has ignited excitement in the Solana-based DeFi ecosystem, sentiment that has helped RAY price higher. With investor confidence in Raydium’s ability to capture market share rising, upside momentum for the native token could be strong.
Meanwhile, Hyperliquid (HYPE) also posted double-digit gains. It signalled a bullish reversal following recent profit-taking. Despite facing resistance near $16, HYPE’s price action suggests increasing buyer confidence. Pullbacks may offer buying opportunities.
MANTRA remains under pressure
MANTRA (OM) continued to face downward pressure, with its price failing to sustain a recovery above $1.
As highlighted, the token is flirting with stiff resistance, as cautious buyers seem to retreat further.
Technical indicators paint a bearish picture, with all moving averages sloping downward and oscillators signaling persistent selling pressure.
Analyst take via X post
Crypto continues to capture significant chatter on X, with market sentiment and events dominating. Amid this, here is a top post wrapping up market outlook.
#Bitcoin’s realized cap has reached an all-time high of $872B, yet monthly growth has slowed to +0.9%. This indicates that while capital inflows remain positive, investor appetite is softening – signaling continued risk-off sentiment.
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