Bitcoin gains 7% as $913 million flows into ETFs

Bitget App

Trade smarter

Grafa2025/04/24 10:50

By:Mahathir Bayena

Bitcoin (CRYPTO:BTC) has recorded a 7.68% increase over the past 30 days, contrasting with declines in major U.S. equity indexes, according to Google Finance data.

During the same period, the S&P 500 dropped by 6.79% and the Nasdaq fell by 8.14%.

“We’re not quite there yet, but if Bitcoin holds strength through the upcoming CPI, as well as ongoing Powell-related and equity earnings volatility, the decoupling narrative could evolve from ‘temporary divergence’ to ‘regime change,’” analysts at Bitfinex noted.

Despite recent gains, Bitfinex analysts cautioned that Bitcoin’s relative strength against U.S. equities has not yet been confirmed as a structural trend.

They pointed out that Bitcoin has previously experienced short periods of outperformance, only to eventually realign with the broader market.

Nvidia, a technology company that has outperformed Bitcoin over the past decade, saw its stock decline by 15.4% during this period.

Bitfinex analysts attributed Nvidia’s decline to factors such as the “effective ban on advanced chip exports to China and tariff-driven volatility.”

“There is a near zero chance of Nvidia outperforming Bitcoin over the next 10 years,” commented Cory Klippsten, CEO of Swan Bitcoin, in May 2024.

April 22 saw $913 million in spot Bitcoin ETF inflows, marking the largest single-day inflow since late January.

“This backdrop favors Bitcoin as the ‘cleanest shirt in the dirty laundry,’” according to Bitfinex.

They added that Bitcoin’s dominance in the crypto market has risen to 64.39%, a level not seen since late 2021, based on TradingView data.

Market participants are watching the April Consumer Price Index, published May 13, after March’s CPI showed a year-over-year decrease to 2.4%, the lowest since February 2023.

“Given that our stablecoin minting indicator has yet to return to high-activity levels, we remain cautious about the sustainability of the current Bitcoin rally,” said Markus Thielen, head of research at 10x Research.

At the time of reporting, the Bitcoin (BTC) price was $92,675.17.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

Share link:In this post: Parisa Tabriz believes Google Chrome would decline in another company’s hands, saying it would be hard to disentangle Google from the search engine’s success. Google plans to infuse artificial intelligence into Chrome to make it more agentic. OpenAI showed interest in buying Google Chrome.

Cryptopolitan•2025/04/27 13:12

SEC Commissioner Hester Peirce calls for better crypto regulation

Share link:In this post: SEC Commissioner Hester Peirce has called for better crypto regulation in the United States. Peirce mentioned that financial firms have been approaching crypto in a way like playing “the floor is lava” children’s game. SEC commissioners want flexible regulation as SEC chairman Paul Atkins wants clear regulations for digital assets.

Cryptopolitan•2025/04/27 13:12