Sovereign wealth funds and other institutions were accumulating Bitcoin (BTC) during April 2025, while retail traders were exiting the markets via exchange-traded funds (ETFs) and spot markets, according to John D’Agostino, the head of strategy at Coinbase Institutional.During a recent appearance on CNBC, the Coinbase executive likened Bitcoin to gold and said that many institutional buyers bought BTC as a hedge against currency inflation and macroeconomic uncertainty. The Coinbase executive said:”Bitcoin is trading on its core characteristics, which again are similar to gold. You’ve got scarcity, immutability, and non-sovereign asset portability. So it’s trading the way people who believe in Bitcoin would like it to trade.””When you do the work, there’s a very short list of assets that mirror the characteristics of gold. Bitcoin is on that shortlist,” the executive added.Governments and financial institutions are increasingly adopting Bitcoin to protect purchasing power and the value of their treasuries in the…Read More

Traders are embracing diametrically opposed exchange-traded fund (ETF) strategies in a bid to navigate one of the most unpredictable financial markets in recent history, according to data from Bloomberg Intelligence. The year-to-date has seen record inflows to ETFs providing leveraged long exposure to volatile assets such as stocks and cryptocurrencies, as well as funds holding risk-off assets such as cash and gold, the data shows. “[T]here’s basically record flows going into leveraged long ETFs but also cash and gold ETFs as people buy the dip and hedge the dip at the same time. May the best degen win!,” Bloomberg Intelligence analyst Eric Balchunas said in an April 23 post on the X platform.Leveraged ETFs are funds that aim to multiply the daily performance of assets like stocks or crypto, often by two or three times.In 2025, leveraged long ETFs attracted net inflows of roughly $6 billion, according to Bloomberg Intelligence. Meanwhile, inflows…Read More

Key Takeaways:Bitcoin short-term holders are back in profit, increasing chances for a rally to $100,000.Long-term holders added 363,000 BTC since February, with new buyers injecting capital in April.Bitcoin sell pressure risk exists at $97,000, where 392,000 BTC could be sold. Bitcoin’s (BTC) surge above $91,700 on April 22 pushed its value above the short-term realized price or cost basis. This implies that a majority of short-term holders (STHs) are currently back in profit.STHs returning to profit after unrealized losses signal a bullish outlook, paving the way for a potential $100,000 retest.Bitcoin short-term onchain cost basis bands. Source: GlassnodeHistorically, during the early phase of a rally, STHs in profit provided upward momentum by holding firm and drawing in new investors. Bitcoin’s supply mapping indicated “strong activity” in April from first-time buyers, indicating fresh capital injections in the market at higher prices. Long-term holders (those holding for more than 155 days) increased their…Read More

Key points:Bitcoin’s rally is backed by solid institutional buying in the spot BTC ETFs.A rally above the $95,000 level could be difficult, but analysts’ end-of-year price projections now extend to $200,000.Select altcoins are showing signs of a price bottom.Bitcoin (BTC) price rallied close to the $95,000 resistance level on April 23 as the cryptocurrency finds support from rising spot BTC ETF inflows and positive macroeconomic news in the United States. According to Farside Investors, the funds recorded net inflows of $381.3 million on April 21 and $912.7 million on April 22.Analysts from Standard Chartered and Intellectia AI said that institutional demand for Bitcoin ETFs and BTC’s use as a hedge against macroeconomic risk could propel the price to $200,000 in 2025.Crypto market data daily view. Source: Coin360Not everyone is convinced about the current rally. 10x Research head of research Markus Thielen questioned the sustainability of the Bitcoin rally in an…Read More

United States Treasury Secretary Scott Bessent recently called for “Bretton Woods institutions,” such as the International Monetary Fund (IMF), to reorient themselves, a signal that the global monetary order could be shifting.Speaking at the Institute of International Finance (IIF) on April 23, Bessent called on the IMF and the World Bank to correct trade imbalances and protect the value of fiat currencies against exchange rate risk.”The Bretton Woods institutions must step back from their sprawling and unfocused agendas,” Bessent said. He added:”The IMF’s mission is to promote international monetary cooperation, facilitate the balanced growth of international trade, encourage economic growth, and discourage harmful policies like competitive exchange rate depreciation.”Bessent’s call for the IMF to correct trade imbalances between countries, specifically the US and China, coincides with a decline in the US dollar to three-year lows, $36 trillion in US government debt, and stiff economic competition from China.The Dollar Currency Index…Read More

Key points:Bitcoin ETF inflows obliterated the 2025 average on April 22.ETF performance remains tightly dependent on BTC price action, with the turnaround following six-week highs in BTC/USD.ETFs themselves are gaining influence, with one commentator arguing that they can “determine” exchange activity.Bitcoin (BTC) institutional investors piled over eleven times the all-time average into the US spot Bitcoin exchange-traded funds (ETFs) on April 22.Fresh data from onchain analytics firm Glassnode confirms that the $912 million ETF inflows equal more than 500 times the 2025 daily average.Glassnode: 2025 ETF average inflow just 23 BTCBitcoin ETFs immediately felt the impact of BTC price rises this week, with inflows undergoing a “dramatic” turnaround to nearly $1 billion in a single day. BTC/USD hit its highest levels since early March.Glassnode reveals just how unusual such a tally is — in 2025, so far, the average daily inflow has been just 23 BTC ($2.1 million).“This was the largest daily…Read More