Maersk: Shipping Should Avoid the Strait of Hormuz

April 22: Grayscale Research Director Zach Pandl released a report noting Bitcoin hit an approximate $63,000 low on February 5, has rebounded more than 20% since, and now trades around $76,000—slightly above recent buyers’ average cost basis. Bitcoin’s fully transparent blockchain allows the cost basis of every transaction to be traced. Analysts frequently track the "Realized Price" metric: the weighted average price of all circulating coins at their last on-chain movement. The 1-to-3 month realized price is around $74,000, meaning recent buyers are at breakeven. If Bitcoin continues rising in the coming days, more recent buyers will shift to profitable positions (positive P&L)—a common signal of the start of a bull market’s first phase. Key Takeaway: While Bitcoin remains well below last October’s all-time high, many recent buyers have reached breakeven, suggesting the asset may have formed a solid market bottom in the $65,000 to $70,000 range.

April 22: U.S. Senator Cynthia Lummis asked Federal Reserve Chair nominee Jerome Powell during a Senate hearing, “Do you believe digital assets should be integrated into the U.S. financial system to offer Americans new investment opportunities and consumer protections?” Powell responded: “Senator, digital assets are already part of the U.S. financial system—yes.”

April 21: Federal Reserve Chair nominee Powell said the specific size of the central bank’s balance sheet hasn’t been determined yet. (FXStreet)

April 21 — New York State has filed a lawsuit against Coinbase Financial Markets and Gemini Titan, court records show, alleging the firms violated the state’s executive law.

April 21st (CoinDesk) — U.S. lawmakers have introduced the Payments and Clearing Exemption (PACE) Act, which aims to modernize the U.S. payment system. The legislation would let eligible companies gain direct access to the Federal Reserve’s payment system, cutting delays, reducing costs, and speeding up fund transfers for consumers and businesses. The proposal has earned support from the fintech and cryptocurrency community, as it seeks to make payments faster, cheaper, and more competitive.

April 21st — Federal Reserve Chair Nominee Kevin Wash said Wednesday, “It’s a great honor to get the President’s nomination. If confirmed as Fed Chair, I will be an independent decision-maker.” Responding to a question from Louisiana Senator John Kennedy, Wash stated he would never be a puppet of the President. He also noted former President Trump did not ask him to commit to specific interest rate decisions. Wash added: “The President never asked me for any specific rate commitments—that’s a fact. Even if he had made such a request, I would never agree to it.”