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Bitcoin above $78,000: ETF inflows led to best month since April 2025
Сryptocurrency
Bitcoin prices rose slightly on Saturday, extending the bullish trend as the market absorbed record institutional demand since April.
The world's largest cryptocurrency rose by almost 1% to $78,137.5 by 14:40, reflecting a significant increase after breaking through key resistance levels. Bitcoin's momentum followed a month in which it rose by around 12%, marking its best monthly performance since April 2025.
Record inflows into ETFs drive institutional accumulation
Massive institutional capital inflows remain the primary catalyst for the current price dynamics. U.S.-based spot Bitcoin ETFs recorded net inflows of around $2.44 billion in April 2026, nearly double the $1.32 billion seen in March.
Capital inflows have successfully absorbed the market supply, even with daily mining, with BlackRock's iShares Bitcoin Trust (IBIT) alone attracting over 70% of the total capital in the month.
Analysts suggest that the steady presence of institutional investors provides reliable support for the asset's valuation, reducing the volatility caused by retail investors.
Despite the positive monthly trend, the last week of April showed some cooling, with a net outflow of around $490 million from April 27 to 29.
However, the broader structural shift towards institutional ownership remains unchanged, as the total assets under management of spot ETFs in the United States reached approximately $102 billion by the end of the month.
Investors are now targeting the $80,000 mark, as supply on exchanges continues to decline and demand remains steady.
Geopolitical Obstacles and Divergent Views from the Fed
The macroeconomic environment continues to act as a major obstacle, hindering a full breakout towards $80,000. Increased tensions between the United States and Iran, as well as the ongoing naval blockade of Iran's coastline, are supporting a "war premium" on oil prices, which is directly impacting inflation forecasts.
Analysts at Nexo Dispatch point out that Bitcoin's path to new highs is heavily dependent on Brent oil falling below the $100 mark and geopolitical risks continuing to decline.
Further complicating the situation is the recent interest rate decision by the Federal Reserve, which has revealed disagreements among policymakers. Although the Fed kept rates at 3.50% to 3.75%, the meeting saw the most disagreement since 1992, revealing a deep divide over future "easing bias."
Fed Chairman Jerome Powell, who is set to step down later this month, warned that inflation had not yet peaked. His hawkish tone has led the market to reevaluate its expectations for rate cuts under new Chair Kevin Warsh, whose first meeting is scheduled for June.
Coinbase: Agreement Reached on Stablecoins, Paving Way for Senate Bill
Coinbase Global said on Friday it had reached an agreement on a contested provision on stablecoin yields, potentially paving the way for a sweeping cryptocurrency bill in the U.S. Senate.
A dispute over whether crypto exchanges can offer customers rewards for holding stablecoins stalled the bill earlier this year, with banks lobbying to ban the practice over concerns it could divert deposits from traditional lenders.
"In the end, banks were able to get more restrictions on rewards, but we protected what's important - the ability for Americans to earn rewards based on real use of crypto platforms and networks," Fariar Shirzad, Coinbase's director of policy, said on X (formerly Twitter, blocked in Russia).
The agreement could help push the Clarity Act, which would establish a regulatory boundary between the Securities and Exchange Commission and the Commodity Futures Trading Commission in relation to various segments of the digital asset market, to a vote in the Senate Banking Committee.
A previous attempt to bring the bill to a vote in January failed after Coinbase CEO Brian Armstrong publicly withdrew support for the company. The White House has since worked to reach a compromise between banks and crypto firms.
Cryptocurrency prices today: Altcoins show mixed dynamics
Altcoins rose slightly on Saturday.
The world's No. 2 cryptocurrency Ethereum rose by 0.7% to $2,301.02.
The world's No. 3 cryptocurrency XRP rose by 0.6% to $1.3862.
Solana fell by 0.4%, while Cardano gained 0.2%.
Among meme tokens, Dogecoin fell by 1.2%.