The U.S. Securities and Exchange Commission has postponed its decision on the proposed Franklin XRP Fund, a spot XRP exchange-traded fund submitted by asset manager Franklin Templeton. According to its most recent filing, the SEC has extended the review period…

XRP retraces towards support as SEC delays Franklin Templeton’s ETF decision

Despite Bitcoin (BTC) gaining notable traction over the past week &#8211; rising 
from approximately $85,000 on April 21 to nearly $95,000 today &#8211; the top 
cryptocurrency’s Demand Momentum remains significantly subdued, signalling 
caution among investors. Bitcoin Demand Momentum Continues To Be In Negative 
Zone According to a recent CryptoQuant Quicktake post by analyst Crazzyblockk, 
Bitcoin’s 30-day Demand Momentum is still firmly in negative territory. 
Currently, the 30-day Demand Momentum stands at around -483,860 BTC, while the 
30-day Simple Moving Average (SMA) of the same metric is hovering near 
-310,700 BTC. Related Reading: Bitcoin Must Clear This Critical Cost Basis 
Level For Continued Upside, Analyst Says To clarify, the 30-day Demand 
Momentum is calculated by subtracting the 30-day Long-Term Holder (LTH) Supply 
from the 30-day Short-Term Holder (STH) Supply. This metric effectively 
measures the net shift in active demand for BTC. A rise in short-term holder 
supply relative to long-term holders implies that market participants are 
increasingly opting to speculate rather than hold Bitcoin for the long haul. 
Trading in the negative zone suggests waning demand from short-term investors. 
This could be attributed to profit-taking &#8211; especially after BTC’s recent 10% 
rally over the past seven days &#8211; or lingering market uncertainty amid global 
economic concerns, including renewed trade tariff tensions. Furthermore, the 
market is experiencing a dynamic where long-term holders are absorbing fewer 
BTC than what short-term holders are distributing. According to Crazzyblockk, 
such behavior is commonly observed during late-cycle distribution phases or 
macro-level consolidation periods. It is worth noting that Bitcoin has 
previously experienced similar deep negative divergences in Demand Momentum, 
specifically during mid-2021 and the second quarter of 2022. In both 
instances, these divergences were followed by sharp price pullbacks. On an 
optimistic note, the ensuing market recovery on both the instances coincided 
with market bottoms. They also marked the resumption of sustainable bullish 
momentum in the following months. If Bitcoin can reverse this negative demand 
trend and push the metric back into positive territory, it could signal a 
strong resurgence in investor conviction. A return to the &#8220;green zone&#8221; would 
likely mark a renewed uptrend, potentially pushing BTC to a new all-time high 
(ATH) in the near term. Positive Signs Emerging For BTC While Demand Momentum 
remains weak, other market signals suggest that Bitcoin could be nearing a 
trend reversal. For example, Bitcoin’s Apparent Demand &#8211; a separate on-chain 
metric &#8211; has recently shown a sharp rebound, hinting at a possible return of 
buying pressure. Related Reading: Bitcoin Surpasses Realized Price Of Recent 
Buyers — Rally Incoming Or Double Top? Additionally, BTC exchange reserves 
continue to decline rapidly. According to recent data, Bitcoin just recorded 
its highest exchange withdrawal volume in two years. This ongoing depletion of 
exchange-held BTC could lead to a supply squeeze, further supporting bullish 
price action. Technical indicators also point toward the possibility of BTC 
testing its current ATH of $108,786. At press time, Bitcoin is trading at 
$94,773, up 0.3% over the past 24 hours. Featured image created with Unsplash, 
charts from CryptoQuant and TradingView.com

Bitcoin Demand Momentum Yet To Recover From Deep Negative Zone, Analyst Says

Eric Trump, executive vice president of the Trump Organization and son of US 
President Donald Trump, has delivered an alarming warning for global banks 
regarding cryptocurrency adoption.
Banks around the world will have to adopt cryptocurrency or go extinct in a 
decade, Trump predicted in an interview with CNBC&#8217;s Dan Murphy in Dubai on 
April 30.
&#8220;The modern financial system is broken, it&#8217;s slow, it&#8217;s expensive,&#8221; the 
businessman said, adding that the existing banking system &#8220;favors the ultra- 
wealthy.&#8221;
&#8220;It forced me into the crypto world,&#8221; he continued, adding: &#8220;And I&#8217;m telling 
you, if the banks don&#8217;t watch what&#8217;s coming, they&#8217;re going to be extinct in 10 
years.&#8221;
## SWIFT is an &#8220;absolute disaster&#8221;
While**** emphasizing the need for banks to closely monitor developments in 
the crypto industry, Trump highlighted the benefits of cryptocurrency&#8217;s 
underlying blockchain technology for the financial system.
He slammed the existing cross-border transaction solutions like the global 
international messaging network SWIFT, which has often been criticized for its 
slow transactions.
&#8220;There&#8217;s nothing that can be done on blockchain that can&#8217;t be done better than 
the way that the current financial institutions are working. SWIFT is an 
absolute disaster,&#8221; he stated.
With the emergency of crypto, traditional payment tools like SWIFT are at risk 
of losing market share, Trump observed:
&gt; &#8220;You can open up a DeFi [decentralized finance] app right now, you can open 
&gt; up any cryptocurrency app, and you can send money, wallet to wallet, 
&gt; instantaneously, without the expense, without the variability.&#8221;
## Banks pushing back, but the industry is bullish
Trump&#8217;s warning comes amid many global banks still pushing back against 
cryptocurrency adoption, with the Bank of Italy slamming stablecoin growth and 
Bitcoin (BTC) investments.
On the other hand, many industry executives are bullish on crypto adoption by 
banks already in 2025, amid governments like the US pushing a more crypto- 
friendly agenda.
Trump&#8217;s new prediction comes in line with his previous bold forecasts on 
crypto. In December 2024, Eric Trump predicted that Bitcoin would inevitably 
hit $1 million per coin, while global governments and institutions would have 
to adopt the cryptocurrency to compete in the fast-growing market.
_**Magazine:**__**Bitcoin $100K hopes on ice, SBF &#8216;s mysterious prison move: 
Hodler&#8217;s Digest, April 20 &#8211; 26**_

Banks must adopt crypto or be extinct in 10 years, Eric Trump says

More than 3.7 million cryptocurrency tokens have failed since 2021, with 
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Scammers are sending physical letters to Ledger hardware wallet users, 
impersonating the company in an effort to steal wallet seed phrases — a 
phishing scheme that may be linked to Ledger&#8217;s 2020 data breach. In a recent 
post on X,…

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Trump Media &amp; Technology Group is exploring the addition of a utility token 
and digital wallet for its streaming platform, Truth+, that would allow users 
to pay for subscriptions. According to a letter addressed to shareholders, CEO 
and Chairman of…