- Bitcoin climbs 5.38% in 24 hours, supported by strong institutional demand through spot ETF inflows, marking the highest weekly inflow levels since early January.
- Improved macro sentiment, driven by easing geopolitical tensions and softer U.S. data, boosts risk appetite while rising derivatives activity signals growing trader participation.
- Price nears key resistance around $75K, with sustained ETF inflows needed to maintain momentum, while a drop below $73.3K could trigger short-term correction.
Bitcoin (BTC) demonstrated a strong uptrend over the past 24 hours trading at $74,532.74; as it gained 5.38%. This increase reflected continuous flow of institutional demand into spot Bitcoin ETFs. Out there, data presented unambiguous correlations between Bitcoin and traditional markets.
BTC showed a 94.5% correlation to the S&P 500 and a 64.0% correlation to gold. Such a pattern showed that the rally was shaped by the collective macroeconomic situation, rather than by each sect of crypto.
Bitcoin Price Surges Backed by ETF Flows
Institutional inflows played an important role in the price movement. Crypto investment securities saw $1.1 billion in inflows last week, the highest since early January. Bitcoin made up $871 million of that total, which shows a strong preference by large investors. BlackRock’s iShares Bitcoin Trust also recorded a single-day inflow of $612 million, adding to the momentum.
On April 13, US-listed Bitcoin ETFs reported a net inflow of 3,353 BTC. Ethereum ETFs also saw inflows, though at a lower scale. These consistent purchases provided steady support to BTC’s price. Such demand tends to create a base for upward movement as supply tightens on exchanges.
At the same time, macro conditions added support. Geopolitical tensions showed signs of easing, which improved overall market sentiment. Lower inflation expectations tend to support risk assets, including cryptocurrencies. As a result, investors showed a higher appetite for exposure to volatile markets.
Derivatives data also iterates this growing interest. Total open interest in crypto derivatives rose by 10.85% to $469.39 billion. This suggested that there was new capital entering the market, and traders were placing positions. Even as this helps prop up the trend, it also raises the risk of abrupt price moves if positions roll back.
Bitcoin is sitting in a very meaningful resistance zone in the short term. With prices now sitting in the $75,000–75,988 range (a hurdle that has plagued the sessions in the past few weeks), if traders are above this point much longer, then that’s a path with more room for gains. But this zone can also serve to draw profit from short-term traders. Support levels are still a must to build the structure as it is currently constructed.
The 23.6% Fibonacci level at $73,388 is in close focus. Keep above this range, it means buyers are still in control. On the downside, a drop below $71,780 could spark an even wider pullback. Corporate activity has played a role in this as well.
Strategy recently boosted its Bitcoin holdings with a hefty new big transaction. During the recent week the company purchased 13,927 Bitcoin at a price of $71,902 on average for the week’s activity. This action was made public by the firm in a filing with the US Securities and Exchange Commission.
With this addition, Strategy now has 780,897 BTC in total. These holdings today carry a value of around $59.02 billion. For all its current prices, the firm is still one of the largest corporate holders of Bitcoin on the planet.
Its average purchase price now stands at $75,577 per Bitcoin.
The latest acquisition was made below this average cost. This slightly lowered the overall entry level for the company. It also showed a consistent approach of buying during price dips. Such accumulation patterns are often seen as a sign of long-term conviction.
