ZEROBASE Weekly 4.6-4.12 ZBT performed strong last week. Drawing on data from major trading platforms, ZBT moved within a weekly range of $0.0958 to $0.1211. Liquidity conditions stayed robust throughout the period, with the average top-of-book bid-ask spread holding steady at an exceptionally tight 0.45%. Bid-ask spreads remained consistently narrow, demonstrating sustained order-book depth and highly efficient price discovery. Crypto market showed tentative signs of stabilization and modest recovery this week, shaking off some of the prior period’s selling pressure. Total market capitalization climbed from around $2.40T back toward the $2.51T level, while Bitcoin advanced from roughly $68,800 early in the week to an intraday high above $73,500 before consolidating in the $70,700–71,200 zone by Sunday — a net gain of about 4–5% from its weekly low. ETH tracked a similar path, rising from near $2,140 to trade around $2,190–2,220. Derivatives data reflected this improved tone: total open interest expanded modestly to the $114–119B range (up roughly 2–4% week-over-week), 24-hour liquidations eased into the $200M–$350M band, and funding rates on major pairs such as BTC/USDT flipped mildly positive, indicating a shift away from the previous bearish bias. Macro headwinds persisted, however. Ongoing geopolitical tensions in the Middle East, combined with upcoming CPI prints and lingering concerns over sticky inflation, continued to keep the Federal Reserve in a cautious stance. Despite these pressures, the market demonstrated resilience as institutional flows began to reappear.A notable bright spot came from Bitcoin spot ETFs, which recorded strong inflows — highlighted by a single-day $471 million intake on April 6, the largest in over a month — underscoring sustained institutional conviction. Earlier regulatory clarity from the SEC and CFTC also continued to provide a supportive backdrop. In summary, the week marked a cautious rebound in both spot prices and derivatives positioning, even as the Crypto Fear & Greed Index remained locked in Extreme Fear territory. While the broader risk-off environment has yet to fully dissipate, improving ETF momentum and technical stabilization suggest the market may be finding a firmer footing heading into the second quarter.