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Global equity funds recorded a net capital inflow for the fourth consecutive week in the week ending April 15, reaching $31.26 billion, marking the largest single-week subscription since March 25. Strong corporate earnings and optimism that the Iran conflict may be resolved sooner than expected jointly boosted risk appetite.Brent crude oil continued to trade below $100 per barrel this week, effectively alleviating inflation concerns. Potential U.S.-Iran contact over the weekend was interpreted by the market as a strong signal that the Middle East conflict may be nearing its end. U.S. equity funds attracted $21.25 billion in a single week, European funds saw a net subscription of $9.38 billion, while Asian funds experienced a net redemption of $2.06 billion.Industry capital flows reveal structural preferences. The technology sector led with a net inflow of $5.46 billion, while industrials and metals & mining attracted $1.37 billion and $633 million, respectively. The market is placing bets on a restart of the capital expenditure cycle and supply chain repair following the release of a peace dividend.Safe-haven assets witnessed significant repricing. Money market funds saw a weekly net outflow of $173.24 billion, the largest wave of redemptions since September 2018. Short-term bond funds also registered a $7.08 billion net outflow, fully reversing the previous week's inflow. Precious metals commodity funds, such as gold, attracted capital for the third consecutive week, with approximately $822 million in net inflows.The capital migration roadmap reveals deep-seated anxieties. High-yield bonds and euro-denominated bonds received net subscriptions of $3.64 billion and $1.15 billion, respectively, while emerging market equity and bond funds attracted capital for the second consecutive week. The current exuberance is built on expectations of a ceasefire, and if no substantive diplomatic breakthrough is achieved over the weekend, risk asset exposure will face concentrated correction pressure.

BlockBeats News, April 17, according to CoinDesk, Glassnode's on-chain BTC indicator RHODL ratio is currently at 4.5, the third highest level on record, and its signal is more consistent with a market bottom rather than a cycle top. The RHODL ratio compares the value share of BTC held by long-term holders (held for 6 months to 3 years) and short-term holders (held for 1 day to 3 months). A rise in the ratio typically reflects that coins are being held for a longer period and speculative activity is decreasing, rather than an influx of new buyers—a dynamic that appeared after the major corrections in 2015, 2019, and 2022. During the 50% decline in BTC over the past six months, a large amount of younger speculative coins have been washed out, and wealth has become concentrated among long-term holders. Historically, there have only been two occasions when the RHODL ratio was higher than the current level: 2015 (ratio at 5) and 2022 (ratio at 7), both of which corresponded to cycle bottoms. This suggests that BTC may still have further downside potential. However, to push the ratio to even higher levels, activity from short-term holders generally needs to dry up almost completely, which is not yet evident under current conditions—BTC has rebounded about 25% from its February low, perpetual contract funding rates remain negative, and the S&P 500 has also reached a record high. Overall, this indicator shows that the current market conditions are closer to an adjustment within the cycle rather than a cycle top, and long-term holders regaining dominance in the market may signal that a phase bottom is approaching.

Foresight News reported, citing NADA NEWS, that Kazuto Hatano, head of the on-chain business for Soneium, Sony's Ethereum Layer 2 network, stated that Sony's blockchain business is moving from the experimental phase to the business development phase. The former "Advanced Infrastructure Business Exploration Department" has been renamed the "On-Chain Business Strategy Department," repositioning blockchain as a core company strategy. This year, Sony will focus on exploring on-chain applications in the IP sector, leveraging Soneium to build on-chain IP infrastructure for core assets such as music, animation, games, film, and sports. Currently, Sony is simultaneously working on designing relevant legal and regulatory frameworks. In addition, Sony is preparing to establish a GP/LP-type investment fund to accelerate investment in Soneium-based applications and the entertainment sector by introducing external capital. At present, its incubation program SPARK has received over 2,000 DApp applications, with 23 projects already receiving investment. The Sony ecosystem also includes the cryptocurrency exchange S.BLOX, which aims to connect fiat currency and digital assets.