VELVET saw a significant breakout surge driven by the easing of US debt inflation data and renewed activity in the Ethereum ecosystem, with the price reaching as high as $0.1081, reflecting strong risk-on sentiment from investors. However, notable profit-taking has since occurred, bringing the price back down near $0.077 with trading volumes substantially reduced, further intensifying the short-term battle between bulls and bears. It is recommended to closely monitor the $0.076 key support level: a breakdown could trigger further correction risks, while holding above it may provide the foundation for a staged rebound. Given the current high volatility and changes in capital flows, it is advised to keep flexible positions and strictly manage drawdown risks.

The US core PCE inflation data released on April 9 met expectations, effectively reducing concerns over further Fed rate hikes, stabilizing Bitcoin's sideways movement around $73,000 and boosting overall risk appetite. As a result, VELVET saw a significant surge in daily trading volumes on April 11, breaking out from the previous $0.063–$0.066 range and closing with a strong bullish candle at $0.071. The bullish momentum continued for the following two days, with price peaking at $0.1081 and volume expanding simultaneously, reflecting the market's rapid repositioning and momentum for high-risk assets once macro uncertainties were alleviated.

Recently, both user activity and transaction volume on the Ethereum network reached record highs, and the ETH/BTC price spread climbed back to a three-month peak, spurring a strong collective sentiment for high-risk assets. However, after failing to hold the key 0.035 weekly ratio, the market experienced rapid profit-taking. On April 14, after VELVET briefly surpassed $0.10, two consecutive days saw doji or bearish candles with upper shadows, and trading volume contracted significantly. The price swiftly pulled back toward the $0.077 level, once again entering a wide consolidation phase. In the short term, although bullish momentum was once strong, VELVET now faces resistance near previous highs. It is crucial to watch whether the $0.076 support can hold, as this will determine whether an upward move can resume or a deeper correction will follow.

In Q1 2026, the Ethereum to Bitcoin price ratio (ETH/BTC) rebounded to 0.0313, a three-month high, indicating a recovery in the crypto market. Ethereum network users grew 82% year-on-year to 284,000, with transaction volume reaching 200.4 million. Stablecoin supply exceeded $180 billion, about 60% of the global market. Analysts suggest that if ETH/BTC closes above 0.035 weekly, it signals continued inflows into Ethereum and high-risk assets. Bitcoin remains above $74,000, supported by over $56 billion inflows into US spot Bitcoin ETFs.

Analysis: Ethereum-Bitcoin price ratio rebounds, overall crypto market recovers

Velvet

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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Velvet Price: VELVET Live Price Today | VELVET Market Cap & Chart Analysis | Bybit

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VELVET price today is 0.08, with a live price change of -1.42 in the last 24 hours. Convert, buy, sell and trade VELVET on Bybit.

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