One recent tweet by KookCapitalLLC on 4/20/25 caused significant movements throughout the entire crypto industry. Bitcoin's price saw a 3.5% increase, reaching $72,120 by 11:00 AM EST, while Ethereum rose by 2.8% to $3,890 within the same timeframe. SingularityNET (AGIX) was the biggest gainer with a massive jump of 5.2% which brought its price to $0.95. In the very first two hours following the tweet, trading volumes for the token surged an astonishing 45%, reaching over 120 million.
The tweet specifically shook up the price of AI-related tokens, furthering a wave of pro-investor enthusiasm, with anticipated trends going forward seen as largely favorable. Overall trading volumes for the top 10 cryptocurrencies increased by an average of 30% by 2:00 PM EST. The Ethereum network saw a 15% rise in active addresses, totaling 500,000 by 2:00 PM EST, reflecting heightened activity on the platform.
Technical indicators further highlighted the market's response. Bitcoin's Relative Strength Index (RSI) hit 71 at 1:00 PM EST, signaling overbought conditions. Simultaneously, Ethereum's Moving Average Convergence Divergence (MACD) displayed a bullish crossover at 12:30 PM EST, suggesting continued upward momentum.
Analysis of market correlations showed a robust, positive correlation between Bitcoin and AI tokens. The Pearson correlation coefficient between these assets stood at 0.72 over the 24-hour period ending at 1:00 PM EST.
Ethereum’s network growth represented by rising active addresses indicates increased on-chain activity. This surge in activity and price movements across various cryptocurrencies underscores the substantial influence of social media and expert commentary on market dynamics. The tweet set off an avalanche of investor interest in AI tokens. These future developments, which investors interpreted as quite bullish for the AI token market overall, sent the market soaring after that tweet.
