29 April 2025
Bitcoin (BTC), the leading cryptocurrency, is witnessing a notable resurgence, with its price nearing the $100,000 mark for the first time since February 2025.
This upward trend has been significantly supported by substantial inflows into Bitcoin exchange-traded funds (ETFs), reflecting growing investor confidence and interest once again in the cryptocurrency market.
Bitcoin And Major Cryptos Bounce Back
According to a recent report by Fortune, Bitcoin ETFs experienced their largest inflows since December, attracting more than $3 billion last week. The influx into these ETFs is often considered a barometer of market sentiment, indicating that investors are increasingly embracing Bitcoin as a viable asset class.
The recent buying spree comes as Bitcoin has reversed its earlier downward trend, climbing from a low of $75,000 on April 7 to surpass $95,000 by April 28. Over the past week alone, Bitcoin has jumped approximately 8%, reaching a price of $95,500—levels not seen since February.
Gadi Chait, head of investment at Xapo Bank, emphasized that this price movement is more than just a fluctuation; it signals a renewed willingness among investors to engage in the market.
Chait noted that a combination of robust institutional inflows through ETFs and strong bullish activity in options trading has paved the way for Bitcoin to potentially break the $100,000 threshold in the near future.
The upswing in Bitcoin’s price is mirrored by a recovery in the broader cryptocurrency market. Other major cryptocurrencies have also posted gains in recent weeks, with Ethereum rising 11%, XRP increasing by 9%, and Solana up 8%.
This resurgence follows a turbulent period triggered by President Trump’s sweeping tariff policy announcement earlier this month, which initially led to a significant market downturn.
Preferred Safe-Haven Asset Amid Equity Turmoil
On April 2, the S&P 500 suffered a massive blow, wiping out $2.5 trillion in a single day as investors reacted to potential disruptions in supply chains and inflationary pressures. This uncertainty prompted many to flee from riskier assets, including cryptocurrencies, as they braced for the impact of the tariffs.
However, the market began to stabilize after Trump authorized a 90-day pause on most tariffs, excluding those affecting China. This announcement led to a significant rebound in the S&P 500, marking its largest single-day increase since 2008, while Bitcoin rebounded by 9% on April 9.
Since President Donald Trump’s tariff pause was announced, the S&P 500 has seen a modest increase of 1%, whereas Bitcoin has outperformed with a 14% gain.
James Butterfill, head of research at CoinShares, noted a critical divergence in how investors are perceiving Bitcoin compared to traditional equities.
He explained that as equities face pressure from tariffs and declining corporate earnings, BTC is increasingly viewed as a safe-haven asset—detached from centralized entities such as governments or central banks. This shift in perception could be a pivotal factor driving Bitcoin’s recent performance.
“While equities are weighed down by tariffs and declining corporate earnings prospects, Bitcoin remains unaffected and has actually benefited from investors seeking alternative safe-haven assets,” Butterfill stated.
On Monday, BTC retraced toward $94,640, registering a 14% price surge in the monthly time frame.
Featured image from DALL-E, chart from TradingView.com