Bitcoin Sees Largest ETF Inflows Since January, Becomes 5th Largest Asset In The World
Bitcoin reached an intraday high of $94,320, breaking out from a consolidation range of $80,000 to $85,000. This rally is attributed to a significant increase in institutional activity through Spot Bitcoin ETFs, which saw their highest daily inflows since January, totaling $936.43 million on April 22. BlackRock’s iShares Bitcoin Trust led with $643.16 million in inflows. Bitcoin's market capitalization surpassed $1.87 trillion, positioning it as the fifth largest asset globally, overtaking Alphabet and Amazon. This surge indicates strong institutional interest and a potential decoupling from traditional market indices. The focus now shifts to whether Bitcoin can break the $100,000 level before the end of April, with the $94,000 area acting as initial resistance.
