Bitcoin Surges 1% to $95,000 as ETF Inflows Hit $3 Billion

Bitcoin (BTC) has shown remarkable resilience, crossing $95,000 during the current session as bulls aim for a breakout beyond $100,000. The cryptocurrency last reached this level at the beginning of February. Despite dipping to a low of $92,899 during the session, BTC recovered to register an increase of over 1%, trading at its current level. Analysts believe it is only a matter of time before the flagship cryptocurrency retakes $100,000.

However, there are concerns that Bitcoin’s recovery could stall at $100,000 despite ETF inflows worth $3 billion. Market watchers and analysts are questioning if high ETF inflows have always marked a top for the flagship cryptocurrency. BTC has shown bullishness and resilience, recovering from a multi-month low of $74,500. The recovery was fueled by growing investor appetite for spot Bitcoin ETFs, which registered over $3 billion in net weekly inflows, the most since December 2024. Analysts are looking at whether high spot Bitcoin ETF inflows mean the price is getting closer to a local top by analyzing historical data. The analysts discovered that while there have been instances where significant inflows have coincided with or preceded price peaks, it has not always been the case. According to the available historical data, Bitcoin ETFs saw record inflows of over $1 billion on March 12. These inflows preceded Bitcoin’s new all-time high of around $73,300, suggesting a potential top signal. Similarly, daily inflows notched up another high on June 3, 2024, coinciding with BTC’s rally from $67,000 to $72,000, supporting the idea that substantial ETF inflows precede local tops. However, November 2024 saw weekly inflows hit $3.38 billion as BTC surged from one all-time high to another. However, this did not immediately translate to a price top. Instead, the price rallied to cross $100,000 and set a new all-time high.

Michael Saylor’s Strategy has topped up its massive Bitcoin holdings, announcing the purchase of 15,355 BTC as the flagship cryptocurrency surged past $90,000. The company announced on April 28 that it acquired its latest Bitcoin stash between April 21 and 27. The acquisition cost Strategy $1.42 billion at an average price of $92,737 per coin, taking the company’s total holdings to 535,555 BTC, worth over $50 billion. The latest purchase is the largest since March when the company purchased 22,048 BTC for $1.92 billion. Strategy co-founder confirmed the purchase on X, stating the firm has achieved a BTC yield of 13.7% year-to-date.

Despite registering significant outflows since January 2024, Grayscale’s GBTC has maintained its dominance over other Bitcoin ETFs, generating more revenue than all other spot Bitcoin ETFs combined. Its dominance comes despite charging fees up to seven times higher than its competitors. Grayscale generates $268.5 million in annual revenue with a 1.5% expense ratio applied to $17.9 billion in assets under management. Meanwhile, all other US Bitcoin ETFs generate little over $211 million from a total of $89 billion in assets under management. GBTC’s dominance comes despite losing over half its holdings since spot Bitcoin ETFs were approved in January 2024, highlighting how fee structures have shaped the fund’s economics, regardless of market share.

Bitcoin (BTC) briefly crossed $95,000 as it started the week in positive territory. However, the price dipped below $95,000 as sellers continued to lower. The flagship cryptocurrency’s price action remains tepid compared to last week’s dramatic surge, which saw it reclaim $90,000. BTC has shown tremendous resilience despite selling pressure, holding firm above $90,000 despite selling pressure. Meanwhile, spot Bitcoin ETFs registered over $3 billion in net inflows for the week ending April 25, registering their strongest performance since November 2024. ETF data reveals a resurgence in investor interest after weeks of mixed performances. BlackRock’s IBIT led the pack with $240 million in daily inflows, maintaining its position as the largest Bitcoin ETF. Fidelity’s FBTC notched up $108 million, while ARKB (ARK 21Shares) saw $11.39 million in daily inflows. Grayscale’s BTC registered $19.87 million in inflows, but its flagship GBTC product registered outflows worth $7.53 million. Analysts believe BTC is poised to break above $100,000 as new capital flows into the market. If this trend continues, Bitcoin should have little difficulty breaking through the $100,000 level. While early days, it was a similar surge in inflows during October and November that fueled the previous aggressive rally.

BTC’s price action turned positive last weekend as it registered an increase of almost 1% on Saturday and a marginal increase on Sunday to reclaim $85,000 and settle at $85,224. Monday saw a substantial uptick as the price registered an increase of almost 3% to cross $87,000 and settle at $87,508. Bullish sentiment intensified on Tuesday as BTC rallied nearly 7%, surging past $90,000 and settling at $93,749. However, the rally lost momentum on Wednesday after encountering volatility and selling pressure. Despite this, the flagship cryptocurrency registered a marginal increase and settled at $93,749. BTC fell to an intraday low of $91,693 on Thursday as sellers attempted to overwhelm buyers. However, the price rebounded from this level to claim $94,000 and settle at $94,009. The price continued to push higher on Friday, rising almost 1% to $94,776. Price action turned bearish over the weekend as BTC registered a marginal decline on Saturday, and fell 0.99% on Sunday to slip below $94,000 and settle at $93,802. BTC has recovered during the ongoing session and reached an intraday high of $95,656 before declining to its current level, up almost 1%.