Key Highlights:
- Bitcoin (BTC) slipped by just 0.04%, halting its seven-day winning streak, despite massive inflows into Bitcoin spot ETFs.
- On April 22, BTC jumped 6.7% as Donald Trump hinted at a softer approach toward China, fueling risk-on sentiment.
- BTC-spot ETF inflows hit a historic $3.033 billion this week, led by BlackRock’s iShares Bitcoin Trust (IBIT).
Bitcoin Spot ETF Inflows Set New Records Amid Trade Optimism
Bitcoin (BTC) experienced a slight 0.04% decline on Saturday, April 26, after closing Friday with a 0.82% gain at $94,736. Despite the minor setback, the broader sentiment remained positive, ending a remarkable seven-day winning spree.
The primary catalyst for the bullish momentum was President Trump’s announcement regarding a softer stance on China, igniting investor confidence and boosting risk assets like Bitcoin. A notable highlight was the 6.7% surge on April 22, following Trump’s remarks about strengthening trade relations.
Bitcoin spot ETFs witnessed exceptional inflows, reflecting growing institutional interest. As per Farside Investors’ data, BTC-spot ETF net inflows soared to $3.033 billion for the week ending April 25—the highest since ETF trading commenced in January 2024.
Key inflow data:
- BlackRock’s IBIT: $1,445.7 million (highest since December 2023)
- ARK 21Shares Bitcoin ETF (ARKB): $621.1 million
- Fidelity Wise Origin Bitcoin Fund (FBTC): $573.8 million
- Overall: 9 out of 11 BTC-spot ETF issuers recorded net inflows
Institutional participation remains a major force, with BlackRock’s IBIT achieving $41.2 billion in total net inflows since January 2024, significantly offsetting GBTC’s $22.6 billion outflows.
Bitcoin Price Outlook: Factors To Watch
Multiple key drivers will influence BTC’s short-term and medium-term movements:
- US-China Trade Developments: Any escalation could dent risk appetite and impact Bitcoin prices.
- Macroeconomic Trends: Labor market reports and inflation data will steer Federal Reserve policy expectations, influencing BTC.
- Bitcoin Act Progress: If passed, it could create a favorable supply-demand dynamic for Bitcoin.
- BTC-Spot ETF Activity: Institutional inflows/outflows will continue dictating price directions.
Possible Price Scenarios:
- Bullish: Easing trade tensions, supportive Fed signals, Bitcoin Act progress, and strong ETF inflows could push BTC towards the $100,000 mark.
- Bearish: Renewed trade tensions, hawkish monetary policies, or significant ETF outflows could trigger a pullback towards $80,000.
Technical Analysis: Bitcoin Holding Strong
BTC continues trading comfortably above its 50-day and 200-day Exponential Moving Averages (EMAs), signaling strong bullish momentum.
- Upside Target: A decisive move above the $95,866 resistance could open doors to $100,000. Breaking past $100,000 could see Bitcoin revisiting its all-time high near $109,312.
- Downside Risk: A dip below $90,742 could see Bitcoin retesting the 50-day EMA or even falling toward the $86,263 support zone.
Ethereum Update: Mixed Signals
Ethereum (ETH) saw positive inflows into ETH-spot ETFs, amounting to $157.1 million. Despite reclaiming $1,750, ETH remains under pressure as it trades below key EMAs.
- Upside Potential: Breaking above the 50-day EMA could lead ETH toward $2,000 and eventually $2,308.
- Downside Risk: A fall below $1,750 could expose ETH to the $1,538 support level.
Final Thoughts: The Road Ahead
Bitcoin’s journey to $100,000 will depend heavily on macroeconomic data, regulatory clarity, and ETF inflow dynamics. With institutions like BlackRock driving momentum and a softer global trade backdrop emerging, BTC remains in a strong position to rally further.
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