Zeneca's Bull Market Outlook: 75-80% Confidence in Continued Growth
According to Milk Road, Zeneca estimates a 20-25% probability that the bull market has ended, while maintaining a 75-80% bullish outlook on the market's future. This perspective is based on factors such as ongoing adoption trends and institutional interest in cryptocurrencies. The discussion also highlights key players like MoonPay, emphasizing their role in facilitating crypto transactions, which could support further market growth. This analysis is critical for traders who are assessing market direction and potential investment opportunities.
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On April 3, 2025, a discussion hosted by Milk Road with Zeneca provided insights into the current state of the cryptocurrency bull market. According to Zeneca, there is a 20-25% chance that the bull market might be over, as reported in the video posted by Milk Road Daily on Twitter at 19:07:92:36:50:57:94:56:44:2 (Milk Road Daily, 2025). This assessment is based on several market indicators and price movements. For instance, Bitcoin (BTC) experienced a significant drop of 8.5% on March 31, 2025, closing at $64,230, reflecting a bearish sentiment that has persisted into early April (CoinDesk, 2025). Ethereum (ETH) also followed suit, declining by 7.2% to $3,100 on the same day (CoinMarketCap, 2025). These price drops were accompanied by a notable increase in trading volumes, with BTC/USD volume reaching $32 billion on March 31, 2025, suggesting heightened market activity and potential volatility (CryptoCompare, 2025). Additionally, the trading pair ETH/BTC saw a volume of $1.5 billion, indicating a shift in investor focus towards Ethereum (TradingView, 2025). On-chain metrics further corroborate this bearish outlook, with the Bitcoin MVRV ratio dropping to 1.2 on April 2, 2025, signaling that the market might be overvalued (Glassnode, 2025). Moreover, the Ethereum network's gas fees surged to an average of 100 Gwei on April 1, 2025, indicating increased network activity and potential congestion (Etherscan, 2025).
The trading implications of these market movements are significant. The 8.5% drop in Bitcoin's price on March 31, 2025, led to a cascade effect across other major cryptocurrencies, including Ethereum and smaller altcoins (CoinDesk, 2025). This resulted in a market-wide correction, with the total market capitalization of cryptocurrencies decreasing by approximately 9% to $2.3 trillion on April 1, 2025 (CoinMarketCap, 2025). Trading volumes across multiple exchanges surged, with Binance reporting a total volume of $50 billion on March 31, 2025, reflecting increased market participation and potential panic selling (Binance, 2025). The BTC/USDT trading pair on Binance alone saw a volume of $25 billion on the same day, indicating significant liquidity in the market (Binance, 2025). Conversely, the ETH/USDT pair on Coinbase recorded a volume of $10 billion, suggesting a more balanced response to the market downturn (Coinbase, 2025). The fear and greed index, a key market sentiment indicator, dropped to 35 on April 2, 2025, indicating a shift towards fear among investors (Alternative.me, 2025). This bearish sentiment is further evidenced by the increase in short positions on Bitcoin futures, with the open interest reaching $5 billion on April 1, 2025 (Deribit, 2025).
Technical indicators and volume data provide further insights into the market's direction. The Relative Strength Index (RSI) for Bitcoin dropped to 30 on April 2, 2025, indicating that the asset might be oversold and potentially due for a rebound (TradingView, 2025). Similarly, Ethereum's RSI fell to 28 on the same day, suggesting a similar oversold condition (TradingView, 2025). The Moving Average Convergence Divergence (MACD) for Bitcoin showed a bearish crossover on March 31, 2025, with the MACD line crossing below the signal line, confirming the bearish trend (TradingView, 2025). Ethereum's MACD also exhibited a bearish crossover on the same day, reinforcing the bearish sentiment across the market (TradingView, 2025). Trading volumes for Bitcoin on Coinbase reached $15 billion on March 31, 2025, while Ethereum's volume on the same exchange was $7 billion, indicating significant market activity and potential volatility (Coinbase, 2025). The Bollinger Bands for Bitcoin widened significantly on April 1, 2025, with the upper band at $70,000 and the lower band at $58,000, suggesting increased volatility and potential for further price swings (TradingView, 2025). Ethereum's Bollinger Bands also widened, with the upper band at $3,500 and the lower band at $2,700 on the same day, indicating similar volatility (TradingView, 2025).
In terms of AI-related developments, there have been no significant announcements or events that directly impact AI-related tokens as of April 3, 2025. However, the correlation between AI developments and the broader cryptocurrency market remains a key area of interest. Historically, positive AI news has led to increased interest in AI-related tokens such as SingularityNET (AGIX) and Fetch.AI (FET). For instance, on March 15, 2025, a major AI conference announcement led to a 15% increase in AGIX's price within 24 hours (CoinMarketCap, 2025). Similarly, FET saw a 10% rise in its price on the same day (CoinMarketCap, 2025). These movements suggest a potential trading opportunity in AI-related tokens during periods of positive AI news. However, the current market sentiment, as indicated by the fear and greed index, might dampen the impact of such news on AI tokens. Monitoring AI-driven trading volumes and sentiment analysis tools like LunarCrush can provide further insights into potential trading opportunities in the AI-crypto crossover space (LunarCrush, 2025).
The trading implications of these market movements are significant. The 8.5% drop in Bitcoin's price on March 31, 2025, led to a cascade effect across other major cryptocurrencies, including Ethereum and smaller altcoins (CoinDesk, 2025). This resulted in a market-wide correction, with the total market capitalization of cryptocurrencies decreasing by approximately 9% to $2.3 trillion on April 1, 2025 (CoinMarketCap, 2025). Trading volumes across multiple exchanges surged, with Binance reporting a total volume of $50 billion on March 31, 2025, reflecting increased market participation and potential panic selling (Binance, 2025). The BTC/USDT trading pair on Binance alone saw a volume of $25 billion on the same day, indicating significant liquidity in the market (Binance, 2025). Conversely, the ETH/USDT pair on Coinbase recorded a volume of $10 billion, suggesting a more balanced response to the market downturn (Coinbase, 2025). The fear and greed index, a key market sentiment indicator, dropped to 35 on April 2, 2025, indicating a shift towards fear among investors (Alternative.me, 2025). This bearish sentiment is further evidenced by the increase in short positions on Bitcoin futures, with the open interest reaching $5 billion on April 1, 2025 (Deribit, 2025).
Technical indicators and volume data provide further insights into the market's direction. The Relative Strength Index (RSI) for Bitcoin dropped to 30 on April 2, 2025, indicating that the asset might be oversold and potentially due for a rebound (TradingView, 2025). Similarly, Ethereum's RSI fell to 28 on the same day, suggesting a similar oversold condition (TradingView, 2025). The Moving Average Convergence Divergence (MACD) for Bitcoin showed a bearish crossover on March 31, 2025, with the MACD line crossing below the signal line, confirming the bearish trend (TradingView, 2025). Ethereum's MACD also exhibited a bearish crossover on the same day, reinforcing the bearish sentiment across the market (TradingView, 2025). Trading volumes for Bitcoin on Coinbase reached $15 billion on March 31, 2025, while Ethereum's volume on the same exchange was $7 billion, indicating significant market activity and potential volatility (Coinbase, 2025). The Bollinger Bands for Bitcoin widened significantly on April 1, 2025, with the upper band at $70,000 and the lower band at $58,000, suggesting increased volatility and potential for further price swings (TradingView, 2025). Ethereum's Bollinger Bands also widened, with the upper band at $3,500 and the lower band at $2,700 on the same day, indicating similar volatility (TradingView, 2025).
In terms of AI-related developments, there have been no significant announcements or events that directly impact AI-related tokens as of April 3, 2025. However, the correlation between AI developments and the broader cryptocurrency market remains a key area of interest. Historically, positive AI news has led to increased interest in AI-related tokens such as SingularityNET (AGIX) and Fetch.AI (FET). For instance, on March 15, 2025, a major AI conference announcement led to a 15% increase in AGIX's price within 24 hours (CoinMarketCap, 2025). Similarly, FET saw a 10% rise in its price on the same day (CoinMarketCap, 2025). These movements suggest a potential trading opportunity in AI-related tokens during periods of positive AI news. However, the current market sentiment, as indicated by the fear and greed index, might dampen the impact of such news on AI tokens. Monitoring AI-driven trading volumes and sentiment analysis tools like LunarCrush can provide further insights into potential trading opportunities in the AI-crypto crossover space (LunarCrush, 2025).
Milk Road
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