Bitcoin Holds $76K Support, XRP and SUI ETFs Signal Institutional Appetite: Apr 9

A broad sell‑off drove the crypto market cap down 5.56% to $2.4 trillion, with volume plummeting 42.15% to $116.4 billion. Bitcoin steadied around $76 K while the first leveraged XRP ETF and a proposed SUI ETF highlight growing institutional products.

• Market cap contraction amid extreme fear; stablecoins still account for 94.86% of 24‑hour volume.

• Bitcoin’s volatility squeeze and macro pressures test its $76 K support level.

• Ripple’s $1.25 B Hidden Road buy and Teucrium’s 2× XRP ETF deepen institutional integration.

• Cboe’s SUI ETF filing underscores rising demand for Layer‑1 altcoin funds.

• RedStone’s 2.4 ms MegaETH oracle enhances on‑chain price‑feed speed for DeFi.

Crypto Fear & Greed Index | Source: Alternative.me

The total crypto market capitalization fell to $2.4 trillion, down 5.56% in 24 hours, as investors retreated amid extreme fear (Fear & Greed Index: 18). Daily trading volume collapsed 42.15% to $116.41 billion, led by stablecoins at $110.43 billion (94.86%) and DeFi protocols at $8.49 billion (7.29%). Bitcoin dominance slipped slightly to 62.65%, reflecting selective buying of the largest asset.

• Binance’s Purge of 14 Low‑Quality Tokens: On April 16, Binance will delist tokens such as Badger (BADGER), Cream Finance (CREAM), and NULS, following community “vote to delist” results and a review of liquidity, development activity, and compliance with stricter listing criteria. This aggressive cleanup aims to bolster overall platform quality but may unsettle holders of smaller projects.

• Ripple’s Strategic Acquisition of Hidden Road: Ripple’s $1.25 billion takeover of prime broker Hidden Road positions the firm as the largest non‑bank prime broker globally. By integrating its RLUSD stablecoin and the XRP Ledger into Hidden Road’s clearing operations—processing over $3 trillion annually—Ripple seeks to streamline cross‑border settlement and showcase institutional-grade blockchain utility.

• Satoshi Nakamoto FOIA Lawsuit Sparks Debate: Crypto attorney James Murphy filed a FOIA request against the U.S. Department of Homeland Security, seeking documents related to an alleged 2019 meeting between DHS agents and Bitcoin’s creator(s). The lawsuit highlights ongoing fascination with Bitcoin’s origins and may pressure U.S. agencies to disclose internal records.

BTC/USDT price chart | Source: KuCoin

Bitcoin’s price has compressed into a tight trading range around $76 K, forming a volatility squeeze that often precedes a sharp breakout or breakdown. With weekly closes below $92 K still elusive, traders watch for a decisive move to confirm next directional bias.

U.S.–China trade tensions, new tariffs, and rising Treasury yields have increased risk‑off sentiment, maintaining Bitcoin’s correlation with equities. Yet some strategists argue that prolonged fiscal strain—like rolling over $9 trillion in U.S. debt—could ultimately drive demand for BTC’s fixed supply, especially if the dollar weakens further.

Ripple will leverage Hidden Road’s infrastructure to deploy RLUSD as collateral across prime brokerage services, reducing settlement times from 24 hours to near‑instant via the XRP Ledger. This move could accelerate institutional use of stablecoins in traditional markets.

Details of Teucrium’s XRP ETF | Source: Teucrium

Teucrium’s XXRP ETF on NYSE Arca offers 2× leveraged exposure to XRP, charging a 1.85% management fee. Launching before a standard spot XRP ETF is approved, XXRP reflects confidence in XRP’s market potential but carries elevated risk due to leverage and the token’s price volatility.

Read more: What Is an XRP ETF, and Is It Coming Soon?

Canary Capital’s SUI ETF application with the SEC, if approved, would introduce the first U.S. fund holding Sui Network’s native token (market cap ~$6.5 billion). Sui’s high TVL ($1.1 billion in DeFi) and developer‑friendly Move framework make it a compelling candidate for institutional products.

Following filings for Solana, Litecoin, and Hedera ETFs, the SUI proposal underscores growing institutional interest in diversified crypto exposure beyond BTC and ETH. Yet some analysts caution that demand for altcoin ETFs may lag until clearer regulatory guidelines emerge.

RedStone’s new push‑based oracle on MegaETH delivers on‑chain price updates every 2.4 milliseconds by co‑locating nodes directly on the network. This “co‑location” minimizes latency from server distance, critical for high‑frequency DeFi strategies and automated trading.

Read more: RedStone (RED) Project Report

Initially on MegaETH, RedStone plans to expand its low‑latency oracle to additional EVM‑compatible networks, sourcing data from centralized exchanges and, eventually, decentralized venues. As DeFi TVL nears $88 billion, efficient oracles will be key infrastructure for next‑generation financial applications.

Read more: What Is MegaETH, the Vitalik-Backed Ethereum Layer‑2 Blockchain?

Amid a sharp pullback and pervasive market fear, Bitcoin’s ability to hold support near $76 K will be a barometer for broader crypto resilience. Meanwhile, institutional developments—from Ripple’s prime broker acquisition to the first leveraged XRP ETF and SUI ETF filing—signal deepening integration of digital assets into traditional finance. Infrastructure advancements like RedStone’s ultra‑low‑latency oracle further strengthen DeFi’s foundations. As regulatory clarity and macro conditions evolve, these institutional products and technical innovations may help steer the next phase of crypto market recovery.