The technical level to watch is clear. Luke Nolan, senior ETH research associate at CoinShares, told CoinDesk the follow-through hinges on bitcoin holding its ETF cost basis near $74,000.
"With Hormuz reopening, oil is off and equities have caught a bid back to ATHs, pulling crypto higher with it," Nolan said. "Follow-through now hinges on BTC decisively holding above its ETF cost basis (~$74k), which would confirm the risk-on rotation already visible in flows. ETF flows have turned positive the last three sessions, and a pickup in that pace would be supportive of the move higher."
A decisive hold above $74,000 into the ceasefire deadline, paired with a fourth straight session of positive ETF inflows, would validate the rotation thesis. A break below would bring volatility back into the sector.
What to Watch
(All times ET)
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Crypto
- April 30: Comment period on the CFTC’s Advanced Notice of Proposed Rulemaking on prediction markets closes.
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Macro
- April 20, 7:30 a.m.: Canada Consumer Price Index YoY for March (Prev. 1.8%); Core Rate (Prev. 2.3%)
- April 21, 1:30 p.m.: Fed Gov. Christopher J. Waller speech on"Modernizing Reserve Bank Operations" at Brookings Institution, Washington, D.C.
- April 22, 1:00 a.m.: UK Consumer Price Inflation YoY for March (Prev. 3.0%); Core rate (Prev. 3.2%)
- April 22, 7:30 p.m.: Japan S&P Global Services PMI Flash for April (Prev. 53); Manufacturing PMI (Prev. 51.6)
- April 23, 7:30 a.m.: Canada Producer Price Index YoY for MArch (Prev. 5.4%); MoM (Prev. 0.4%)
- April 23,7:30 a.m.: U.S. Initial Jobless Claims for week ending April 18 (Prev. 207K)
- April 23, 8:45 a.m.: U.S. S&P Global Flash U.S. Manufacturing PMI for April (Prev. 52.3); Services PMI (Prev. 49.8)
- April 23, 3:30 p.m.: U.S. Fed Balance Sheet for period ending April 22 (Prev. $6.71T)
- April 23, 6:30 p.m.: Japan Consumer Price Index YoY for March (Prev. 1.3%); Core CPI (Prev. 1.6%)
- April 24, 3:00 a.m.: Germany Ifo Business Climate for April (Prev. 86.4)
- April 24, 9 a.m.: U.S. Michigan Consumer Sentiment Final for April est. 47.6 (Prev. 53.3)
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Earnings (Estimates based on FactSet data where available)
- April 22: Tesla (TSLA), pre-market, $0.3
- April 22: CME Group (CME), pre-market, $3.29
- April 23: Nasdaq (NDAQ), pre-market, $0.93
Token Events
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Governance Votes & Calls
- SafeDAO is voting to allocate 5 million SAFE tokens to fund a six-month staking rewards program and interface development for Safenet Beta. Voting ends April 20.
- Unlock DAO is voting on a payment plan to compensate members for their contributions to the collaboration platform throughout March and April. Voting ends April 20.
- RootstockCollective DAO is voting on a 20,000 USDRIF grant to fund a security audit for TYKORA Prize Vaults, a no-loss savings protocol. Voting ends April 20.
- ENS DAO is voting to update its DNSSEC implementation by repointing algorithm 7 to a previously patched contract, adding proper padding validation to correct an omission from a prior security update. Voting ends April 21.
- Decentraland DAO is voting to overhaul its transparency infrastructure by establishing named ownership for all record-keeping systems, publishing strict maintenance standards, and creating a single accessible portal for the community to locate data. Voting ends April 22.
- Telcoin Platform Council DAO is voting to allocate 50 million TEL to hire a strategic telecom advisor to drive GSMA adoption. Voting ends April 22.
- Aavegotchi DAO is voting to appoint nine multi-sig signers for 2026-2027, maintain a 5-of-9 security threshold, set their quarterly compensation at $1,000 in GHST and establish a succession plan. Voting ends April 22.
- Lightchain AI DAO is voting to explore adding an optional Moonpay fiat on-ramp to its AI chat, focusing on feasibility and risks without committing any funds or approving implementation yet. Voting ends April 23.
- Gitcoin DAO is voting to claw back remaining unclaimed fees from the discontinued public goods network (PGN). Voting ends April 24.
- Parallel DAO is voting to begin sunsetting its V2 EUR stablecoin by halting most new issuance and imposing a punitive 50% borrow rate to encourage users to repay their existing debt. Voting ends April 24.
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Unlocks
- April 20: LayerZero (ZRO) to unlock 5.35% of its circulating supply worth $48.33 million.
- April 22: Undeads Games (UDS) to unlock 13.47% of its circulating supply worth $37.09 million.
- April 23: Toncoin (TON) to unlock 1.47% of its circulating supply worth $49.75 million.
- April 25: Humanity Protocol (H) to unlock 4.02% of its circulating supply worth around $11.88 million.
- April 25: Avalanche (AVAX) to unlock 0.39% of its circulating supply worth $15.6 million.
- April 26: Plasma (XPL) to unlock 3.73% of its circulating supply worth $10.10 million.
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Token Launches
- April 21: OpenGradient (OPG) token generation event occurs.
- April 21: USDAI’s CHIP token to launch.
- April 22: Wingbits (WINGS) token generation event occurs.
Conferences
- April 20–23: Hong Kong Web3 Festival 2026 (Hong Kong)
- April 20–26: Solana Economic Zone Dubai 2026 (Dubai)
- April 22-23: VanEck Southern California Blockchain Conference (California)
- April 23-24: AI & Crypto Fraud and Asset Recovery (London)