Bitcoin was largely steady on Thursday as the U.S. House of Representatives cleared a key procedural hurdle to open debate on a suite of crypto bills, after a nine-hour deadlock.

The world’s largest cryptocurrency last traded 0.2% higher at $118,747.5 as of 02:25 ET (06:25 GMT).

The token had surged to record highs above $123,000 at the start of the week. However, increased profit taking at record levels and concerns around U.S. trade tariffs led to a pullback below $116,000.

US crypto bills clear procedural vote

The House late Wednesday narrowly approved a motion to begin formal debate on a package of digital asset legislation, including the GENIUS Act, which sets a federal framework for stablecoins.

The vote passed 217 to 212 after hours of internal negotiations among Republicans, who were divided on whether to advance the bills individually or as a group.

The development marked the first breakthrough in what lawmakers have dubbed "Crypto Week," a coordinated push to establish regulatory clarity for the digital asset sector.

Additional bills under discussion include the CLARITY Act, which would define whether tokens fall under securities or commodities rules, and the Anti-CBDC Surveillance State Act, aimed at preventing the Federal Reserve from issuing a central bank digital currency.

The procedural vote had originally stalled on Tuesday over internal Republican disagreements, but gained momentum after intervention from President Trump and Speaker Johnson

However, the slender margin on the procedural vote and lingering uncertainty over final passage have capped momentum, keeping Bitcoin in a narrow trading band.

Traders are now awaiting the House’s floor votes on the individual bills, expected later this week, which could determine whether the token could rally again as seen last week.

Crypto price today: altcoins jump; XRP, Ether top gainer

Most altcoins rose sharply on Thursday amid broader optimism about “crypto week”.

World no.2 crypto Ethereum jumped 6.5% to $3,368.36, its highest level in over five months.

World no. 3 crypto XRP surged 7.5% to $3.15.

Solana gained 4.6%, and Cardano added 3.1%, while Polygon fell 1%.

Among meme tokens, Dogecoin rose 6%, while $TRUMP gained 3%.

XRP was trading at $3.2565 by 05:04 (09:04 GMT) on the Investing.com Index on Thursday, up 10.33% on the day. It was the largest one-day percentage gain since April 9.

The move upwards pushed XRP’s market cap up to $190.0228B, or 4.99% of the total cryptocurrency market cap. At its highest, XRP’s market cap was $190.3902B.

XRP had traded in a range of $2.9929 to $3.2565 in the previous twenty-four hours.

Over the past seven days, XRP has seen a rise in value, as it gained 31.16%. The volume of XRP traded in the twenty-four hours to time of writing was $11.6199B or 5.55% of the total volume of all cryptocurrencies. It has traded in a range of $2.5139 to $3.2565 in the past 7 days.

At its current price, XRP is still down 4.09% from its all-time high of $3.40 set on January 16.

Elsewhere in cryptocurrency trading

Bitcoin was last at $118,415.2 on the Investing.com Index, down 0.64% on the day.

Ethereum was trading at $3,449.50 on the Investing.com Index, a gain of 9.12%.

Bitcoin’s market cap was last at $2,353.1231B or 61.74% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $415.5509B or 10.90% of the total cryptocurrency market value.

Gold prices rose in Asian trade on Friday, rebounding slightly from two days of sharp losses, as investors weighed the impact of the U.S.-U.K. trade deal and cautiously awaited upcoming China trade talks.

Gold fell in early Asia hours, but reversed course to edge higher, as analysts were sceptical about further de-escalation post the U.K. trade deal.

As of 01:44 ET (05:44 GMT), spot gold rose 0.4% to $3,320.95 per ounce, while gold futures expiring in June gained 0.5% to $3,329.24 an ounce.

The yellow metal was set to jump more than 2% this week, as investors saw increased violatlity, with prices gaining sharply at the start of the week on new U.S. tariff threats on pharma and foreign-made movies.

Trump signs U.K. trade framework deal; signals negotiations with China

President Donald Trump on Thursday signed a framework for a trade deal with the United Kingdom, under which the 10% tariff imposed on goods imported from the U.K. remains in place, while the UK agreed to lower its tariffs to 1.8% from 5.1%. 

Trump also said he expects substantive negotiations between the U.S. and China. Officials from both counties were set to meet over the weekend for trade talks.

Commerce Secretary Howard Lutnick said in media interviews that the U.S. plans dozens of trade deals soon but will likely keep a universal 10% tariff.

Gold, which usually gains in times of uncertainty, fell earlier due to signs of easing trade tensions, but was supported by prevailing caution ahead of U.S.-China talks.

Analysts at ING said they were sceptical that the UK’s deal would herald a much broader easing in trade tensions.

“A de-escalation with China is realistically the only thing that can meaningfully move the dial on the tariff hit,” they added.

The U.S. dollar index was slightly weaker in Asian trading on Friday, making gold cheaper for foreign buyers.

Among other precious metals, Silver Futures were muted at $32.653 an ounce, while platinum futures rose 0.5% to $986.55 an ounce.

Copper prices drop despite resilient China trade data

Copper prices fell slightly on Friday as investors were cautious about the outcome of trade talks with Beijing.

Traders also assessed data, showing a slightly lower than expected Chinese trade balance, but both exports and imports remained resilient despite tariff headwinds.

Benchmark copper futures on the London Metal Exchange fell 0.4% to $9,395.20 a ton, while copper futures expiring in July dropped 1.4% to $4.540 a pound.

Oil prices were up on Friday, after rising about 3% in the previous session, as trade tensions between top oil consumers U.S. and China showed signs of easing and Britain announced a "breakthrough" trade deal with the United States.

Brent crude rose 43 cents, or 0.68%, to $63.27 a barrel while U.S. West Texas Intermediate crude was up 42 cents, or 0.7%, at $60.33 a barrel as at 0731 GMT. On Thursday, both contracts settled nearly 3% up.

U.S. Treasury Secretary Scott Bessent will meet China’s top economic official Vice Premier He Lifeng in Switzerland on May 10 to work toward resolving trade disputes that have threatened growth in the consumption of crude oil.

"If the two set a date to start formal trade negotiations and agree to ratchet down their current steep tariffs against each other while talks carry on, markets will get a breather and crude could stack on another $2-$3 per barrel," said Vandana Hari, founder of oil market analysis provider Vanda (NASDAQ:VNDA) Insights.

China’s exports rose faster than expected in April, while imports narrowed their declines, customs data showed on Friday, giving Beijing some relief ahead of ice-breaker tariff talks.

The country’s crude oil imports in April dipped from the previous month but were up 7.5% year-on-year, driven by a surge in sanctioned shipments and stockpiling by state refiners during maintenance outages. [TRADE/CN]

Separately, U.S. President Donald Trump and British Prime Minister Keir Starmer announced Britain had agreed to lower tariffs on U.S. imports to 1.8% from 5.1%. The U.S. cut duties on British cars but left a 10% tariff on most other goods.

"Any more U.S. trade deals, after the one with the UK, with other major trading partners would have only a marginal impact on oil sentiment," Hari added.

Elsewhere, the Organization of the Petroleum Exporting Countries and allies - or OPEC+ - plan to increase output which could keep pressure on oil prices. A Reuters survey found OPEC oil output edged lower in April as production declines in Libya, Venezuela and Iraq outweighed a scheduled increase in output.

Tighter U.S. sanctions on Iran could restrict supply and push prices higher. Sanctions on two small Chinese refiners for buying Iranian oil made it difficult for them to receive crude and led them to sell their product under alternative names, sources told Reuters on Thursday.

In the meantime, Pakistan’s armed forces launched "multiple attacks" along India’s entire western border on Thursday night and early Friday, the Indian army said, as conflict between the nuclear-armed neighbours intensified.

Rystad Energy analysts expected both countries to increase crude procurement and refinery activity amid mounting tensions.

"Diesel demand is likely to rise amid increased military mobilization, while airline fuel consumption declines as airspace closures lead to rerouted flights, cancellations and soaring airline ticket prices," Rystad’s Rohan Goindi said in a note.

In terms of daily crude demand, India consumes 5.4 million barrels per day (bpd), compared to Pakistan’s 0.25 million bpd, according to Rystad Energy estimates.

A stablecoin launched by Donald Trump’s World Liberty Financial crypto venture is being used by an Abu Dhabi investment firm for its $2 billion investment in crypto exchange Binance, one of World Liberty’s co-founders said on Thursday.

It’s the latest in a series of Trump family crypto-related ventures, including a "meme coin" launched in January, that have drawn criticism from government ethics experts and political opponents over potential conflicts of interest.

World Liberty, which aims to allow people to access financial services without intermediaries like banks, said in March it would launch USD1, a dollar-pegged stablecoin backed by U.S. Treasuries, dollars and other cash equivalents.

Speaking at a crypto conference in Dubai, Zach Witkoff, a co-founder of World Liberty, said USD1 would be used to close the $2 billion investment by Abu Dhabi-based MGX into Binance, the world’s biggest crypto exchange.

"We are excited to announce today that USD1 has been selected as the official stablecoin to close MGX’s $2 billion investment in Binance," said Witkoff, who is a son of Trump’s special envoy to the Middle East, Steve Witkoff.

Democratic Senator Elizabeth Warren sharply criticized the venture and pending U.S. legislation on stablecoins before the Republican-controlled Senate.

A fund "backed by a foreign government just announced it will make a $2 billion deal using Donald Trump’s stablecoins," said Warren, a member of the U.S. Senate Banking Committee. "Meanwhile, the Senate is gearing up to pass the ’GENIUS’ Act - stablecoin legislation that will make it easier for the President and his family to line their own pockets. This is corruption and no senator should support it.”

The White House and World Liberty Financial did not respond immediately to requests for comment.

The use of USD1 in the deal highlights World Liberty’s growing clout in the global crypto industry, and its ties to Binance. USD1 is issued on Binance’s blockchain.

Stablecoins are an increasingly lucrative cog in global crypto trading. Their issuers typically profit by earning interest from the Treasuries and other assets that underpin them.

The value of USD1 in circulation reached about $2.1 billion on Wednesday, according to CoinMarketCap data, making it one of the fastest-growing stablecoins. The identity of its major holders, however, remains unclear.

An anonymous cryptocurrency wallet that holds $2 billion worth of USD1 received the funds between April 16 and 29, according to data from crypto research firm Arkham. Reuters could not ascertain the owner of this wallet.

Binance founder and former CEO Changpeng Zhao, who was incarcerated in the United States last year after pleading guilty to violating U.S. laws against money laundering, met Zach Witkoff and two other World Liberty co-founders in Abu Dhabi, according to a photo posted on social media site X on Sunday.

"It was great to see our friends," in Abu Dhabi, posted Zhao in response to the photo, tagging Witkoff.

Zhao, who in 2023 stepped down from his role at Binance as part of a $4.3 billion settlement with the U.S. over the illicit finance charges, remains a major shareholder of Binance.

TRON INTEGRATION

Separately, Zach Witkoff announced that USD1 would be integrated into Tron, the blockchain of Hong Kong-based crypto entrepreneur Justin Sun.

Sun is the biggest known investor in World Liberty and an adviser to the venture, according to his social media posts, having poured at least $75 million into the project.

Sun was fighting a U.S. securities fraud lawsuit at the time of his first investment in World Liberty. The U.S. Securities and Exchange Commission in February paused its case against him, citing public interest.

Sun moderated the panel on which Witkoff spoke on Thursday, with Trump’s son Eric Trump also on stage.

The U.S. president, who campaigned on promises to be a "crypto president," has pledged to overhaul federal rules on crypto.

Trump handed over management of his assets to his children before returning to the White House and he will have no role in day-to-day decision-making, his company has said.

Gold prices rose in Asian trading on Friday as the dollar dipped ahead of U.S. payrolls data, although gains were limited as China signaled potential trade talks with President Donald Trump’s administration.

The yellow metal suffered consecutive sharp declines in the last three days amid signs of easing trade tensions, poising it to fall 2% for the week.

As of 01:53 ET (06:53 GMT), Spot Gold rose 0.5% to $3,255.95 per ounce, while Gold Futures expiring in June gained 1.2% to $3,232.24 an ounce.

Gold set for weekly loss amid easing trade tensions

China on Friday said it was evaluating the possibility of trade talks with the U.S., stating that any dialogue must be based on sincerity and the removal of unilateral tariffs.

China added that if the U.S. wanted to talk, it must show sincerity and cancel the unilateral tariffs.

The Trump administration has also reached out to China to initiate trade talks, a Chinese state-affiliated media outlet reported a day earlier. 

The sentiment around the trade war had been improving this week, helped by U.S. President Donald Trump signing two orders on Tuesday to ease the impact of auto tariffs.

This led to increased risk appetite and reduced demand for safe-haven assets like bullion. Gold prices declined for the week after recently scaling record highs amid escalated global uncertainties.

US dollar dips ahead of payrolls data

The US Dollar Index edged 0.2% lower in Asian trading on Friday, making gold cheaper for foreign buyers.

Among other precious metals, Silver Futures rose 1.4% to $32.625 an ounce, while Platinum Futures climbed 0.9% to $982.35 an ounce.

Investors now await the monthly U.S. non-farm payrolls report due later on Friday, to gauge the Federal Reserve’s rate outlook.

Gross domestic product data released earlier this week showed the U.S. economy unexpectedly contracted in the first quarter.

Copper jumps on China trade talk hopes

Copper prices rose sharply on Friday on optimism around easing trade tensions for China, the world’s largest importer of the red metal.

Benchmark Copper Futures on the London Metal Exchange jumped 1.9% to $9,379.35 a ton, while Copper Futures expiring in July rose 1.1% to $4.6843 a pound.

Oil prices fell on Friday as traders squared positions ahead of an OPEC+ meeting and amid some scepticism about a potential de-escalation of the trade dispute between China and the United States.

Brent crude futures were down 42 cents, or 0.7%, to $61.71 a barrel at 0922 GMT, while U.S. West Texas Intermediate crude futures fell 46 cents, or 0.8%, to $58.78 a barrel.

For the week, Brent and WTI were on track for a 7% drop, the biggest weekly declines in a month.

China’s Commerce Ministry said on Friday that Beijing was "evaluating" a proposal from Washington to hold talks aimed at addressing U.S. President Donald Trump’s sweeping tariffs, signalling a possible easing of the trade tensions that have rattled global markets.

"There is some optimism when it comes to U.S.-China relations but the signs are only very tentative," said Harry Tchilinguirian, group head of research at Onyx Capital Group. "It’s still very fluid, a one step forward, two steps back situation when it comes to tariffs."

Concerns that the broader trade war could push the global economy into a recession and crimp oil demand, just as the OPEC+ group is preparing to raise output, have weighed heavily on oil prices in recent weeks.

Complicating any talks was a threat from Trump to impose secondary sanctions on buyers of Iranian oil. China is the world’s largest importer of Iran’s crude.

Trump’s comments followed a postponement of U.S. talks with Iran over its nuclear programme. He had previously restored a "maximum pressure" campaign against Iran, which included efforts to drive the country’s oil exports to zero to help prevent Tehran from developing a nuclear weapon.

Oil prices gained late in Thursday’s session to settle nearly 2% higher on Trump’s remarks, erasing some of the losses recorded earlier in the week on expectations of more OPEC+ supply coming to the market.

Several OPEC+ members are set to suggest the group accelerates output hikes in June for a second consecutive month, Reuters previously reported. Eight OPEC+ countries will meet on May 5 to decide a June output plan.

Reuters on Wednesday reported that Saudi Arabia, de facto leader of OPEC+, had briefed allies and industry experts that it was unwilling to prop up oil prices with further supply cuts.

"With non-OPEC+ supply rising robustly and global demand growth facing structural decline, we see no natural re-entry point for these barrels and, ultimately, the group will likely have to endure some price pain no matter when it unwinds its cuts," Fitch’s BMI research unit said in a note.

U.Today - As it trades just above $96,000, up 2.14% on the day, Bitcoin is getting close to a turning point. It is currently in a technical vacuum following a robust recovery in late April; neither significant resistance nor obvious support is located right above it or below. A significant volatility spike that determines the market’s course for weeks or even months frequently precedes this kind of price structure.

If momentum returns, Bitcoin has the potential to soar higher because there are not any nearby resistance zones. However, the opposite is also true: the asset is extremely susceptible to steep declines in the event that bulls lose control because there is not an immediate support buffer until approximately $89,000.

With the RSI at 68, which is getting close to the overbought threshold, momentum is still strong but may be peaking. But the volume remains low, which is a warning sign. In the absence of increased participation, this breakout could turn into a bull trap. The course of the subsequent volatility spike will determine everything that happens next.

A new leg up that might target the psychological $100,000 level and beyond could be started by a clean break above $97,000 with high volume. Alternatively, a collapse below the $93,000-$92,000 range would probably lead to $89,000 or even lower, indicating the end of this rally and possibly igniting a general market correction.

Bitcoin is perched on the edge of a tight market. Since no safety net is in sight, the next big move — up or down — will not merely be another leg; rather, it will determine the framework for the cycle’s subsequent phase. Hold on tight because this level of calm is short-lived.

XRP is ready

As it tests the upper limit of a descending channel that has characterized its price action since January 2025, XRP is poised for a significant move. Just below the $2.40 resistance, a crucial level that, if broken, could lead to a volatility breakout, the asset is currently trading at about $2.37, up 2.12% for the day.

With declining volume suggesting that a breakout — or breakdown — is imminent, the chart clearly shows that XRP is compressing toward the tip of a wedge following months of lower highs and lower lows. The fact that XRP has surpassed all three major moving averages, the 50, 100 and 200 EMA, and that they are now converging around the $2.20 region, is encouraging for bulls.

This confluence serves as a dynamic floor of support. Because the asset is not yet overbought, the RSI remains neutral at 55, providing it with room to rise sharply. The volume is still low, but given how swiftly XRP moves when sentiment changes, any increase in buying interest around $2.40 could spark a quick rally to the $2.80-$3.00 region.

Technically speaking, XRP is acting in a positive way. It made a clean recovery from the April bottom of the wedge and is now marking higher lows, which suggests that buyers are intervening more forcefully. The consolidation that is occurring close to the top of the descending channel is an indication of increasing pressure, not weakness.

Ethereum eyes recovery

With its strong 3.14% daily gain, Ethereum has pushed to $1,850, igniting cautious optimism about a wider recovery. This rally might not be as strong as it first appears, at least not yet, according to a closer examination of the market environment and chart structure. As of right now, ETH is trading just above its 50-day EMA, which it recently flipped into support.

Generally speaking a sustained breakout above this level is a bullish indication, particularly when combined with price consolidation close to the top. The 100 EMA, which is at $2,148, and the 200 EMA, which is at $2,469, represent the next important test. These moving averages could confirm a reversal and restore medium-term bullish momentum if they break cleanly. The problem is that the volume is not very impressive.

Although Ethereum’s price is rising, the stability of this trend is undermined by the lack of robust buying activity. Significant ETH reversals in the past have been marked by spikes in volume and volatility, neither of which is present at the moment. This means that if the mood of the market changes or if Bitcoin begins to correct, the current move could be quickly reversed.

The RSI, which is at 59, indicates that ETH has some leeway before hitting overbought levels, but it might not mean much if volume does not increase. Although it is speculative at best without confirmation, this could be seen as quiet accumulation. Overall, the recovery is brittle even though Ethereum is displaying early indications of strength.

With increasing volume and volatility, ETH must decisively break through the 100 EMA for the market to fully embrace a bullish narrative. Until then, it would be more accurate to consider this move a cautious bounce rather than a complete trend reversal. Keep a close eye on the $2,150 zone; it will determine ETH’s short-term destiny.

MOSCOW (Reuters) - The Russian rouble strengthened past 81 to the U.S. dollar, supported by rising oil prices, reaching its highest level since June 28, 2024.

At 0900 GMT the rouble was up 1.5% 80.90 to the U.S. currency in thin trade ahead of the Orthodox Easter holiday. The price for oil, Russia’s main commodity, rose by 3% on April 17.

The Russian currency is up by over 40% against the dollar since the start of the year, mainly on expectation of easing of tensions between Russia and the United States.

The rouble has ignored the statement by U.S. Secretary of State Marco Rubio, that President Donald Trump will walk away from trying to broker a Russia-Ukraine peace deal within days unless there are clear signs that a deal can be done.

Against the Chinese yuan, which is used by Russia’s central bank for its foreign exchange interventions and is currently the most traded foreign currency in Russia, the rouble was up 0.1% to 11.08 on the Moscow Stock Exchange.

U.Today - As Bitcoin continues to trade sideways below the $85,000 mark as of April 18, the latest data from on-chain analytics firm Glassnode shows the asset recording significant unrealized losses for short-term holders.

While these short-term holders remain underwater with substantial unrealized losses, the data also indicates that long-term holders are still broadly in profit. However, mounting unrealized losses are putting even these seasoned holders at risk of losing their gains.

Unrealized losses represent the total amount of losses held across all Bitcoin in circulation, calculated from the difference between the average acquisition cost and the current market value.

Bear market already?

As the crypto market moves with caution amid debates about the sustainability of the recent bull run, the rise in unrealized loss per percent drawdown has captured the attention of both retail and institutional investors.

According to the data, repeated price corrections across the broader crypto market have not yet signaled sustainable bullish momentum. Meanwhile, Bitcoin appears to be following a historical bearish pattern observed in previous cycles.

Glassnode revealed that the unrealized losses faced by short-term holders are a direct response to the recent market dips.

Although these corrections are not as sharp as those in earlier cycles that triggered full-blown bear markets, the resemblance in pattern has sparked speculation that a bearish phase may already be underway.

For long-term holders, the data painted a mixed picture. While they remain largely in profit, they are now vulnerable to absorbing losses if downward momentum persists.

Although this key metric has historically aligned with bear market confirmations, it alone does not officially define one. Despite these bearish indicators, Bitcoin whales and major investment firms have not slowed down in their accumulation efforts.

The bearish trend for the US dollar (USD) is gaining momentum following a significant selloff last week.

According to BofA, the Option Flow and Technical Matrix, both indicate signs of a continuing bearish USD trend against European currencies, the Canadian dollar (CAD), and the Japanese yen (JPY) in the G10 group.

There are indications of a structural weakness in the USD. Despite short-term fair values suggesting the USD was oversold at the start of last week, as reported on FX Watch on April 9, 2025, the supply of USD in the foreign exchange (FX) market has continued unabated.

Investors in the FX market are likely shifting their focus beyond short-term valuations. They may seek to drive the USD weaker until it approaches long-term equilibrium levels, as noted in FX Viewpoint on September 11, 2024.

Furthermore, a time zone analysis reveals that the recent USD weakness has been mainly concentrated during trading hours in Europe and Asia.

Interestingly, the USD selloff has become independent of the Federal Reserve’s rate cut pricing. This suggests that the selling of USD in non-US hours is continuing, contributing to the bearish USD trend.

U.Today - According to CoinGlass, the $85,800 level remains crucial for Bitcoin price action since much liquidity is concentrated around it.

The significant liquidity around the $85,800 level suggests activity at this point, where traders may have set stop or limit orders. This might result in a scenario where the market moves toward this level to trigger orders and generate momentum.

A liquidity hunt might be watched for, a scenario where the market "flushes out" leveraged positions, particularly longs or traders speculating on price increases. In a separate tweet, CoinGlass pointed out high-leverage liquidity, citing the 24-hour BTC Liquidation Heatmap.

With Bitcoin trading just below this price point, a move toward $85,800 could trigger a bullish breakout if BTC clears the level with significant volume, potentially pushing the price to new highs. Alternatively, it can act as a trap if bears enter to defend the zone, resulting in rejection and a short-term correction.

In any case, $85,800 is shaping up to be an inflection point for Bitcoin’s price, given the significant liquidity at this level.

Bitcoin price action

At press time, BTC was down 0.48% in the last 24 hours to $84,393. Bitcoin fell on Sunday, sliding to $83,010 as investors digested conflicting signals.

CryptoQuant examines Bitcoin’s price action using the Perpetual-Spot Gap, which estimates the difference between Binance’s perpetual futures price and the spot price of BTC. It provides a clear picture of trader sentiment: a negative gap frequently indicates caution, while a positive gap suggests increasing optimism.

Currently, the gap is negative, signaling selling pressure on futures markets. However, there is good news: the gap is narrowing. This could be one of the first indications that bearish sentiment might be fading.