Largest Daily Inflow Since January Signals Growing Institutional Confidence
Bitcoin exchange-traded funds (ETFs) recorded their strongest daily net inflows in over three months, as institutional investors returned to the market amid signs of easing U.S.-China trade tensions and a weakening U.S. dollar.
According to data from Farside Investors, U.S. spot Bitcoin ETFs saw $912 million in cumulative net inflows on April 22, marking the highest single-day inflow since January 21, 2025.
“Bitcoin ETPs just saw the largest daily inflows since 21st January in a dramatic improvement in sentiment,” said James Butterfill, head of research at CoinShares.
Trade War De-escalation Triggers Risk-On Sentiment
Investor confidence improved after President Donald Trump signaled a substantial reduction in tariffs on Chinese imports, describing the current 145% rate as unsustainable. U.S. Treasury Secretary Scott Bessent also hinted at a more diplomatic stance, calling the standoff “unsustainable” in remarks to Bloomberg on April 22.
The policy shift toward de-escalation has been interpreted as a tailwind for risk assets — including Bitcoin — prompting institutional capital to return via regulated ETF products.
Bitcoin Breaks Above $93K Amid ETF Surge
Fueled by growing ETF inflows and a favorable macro backdrop, Bitcoin (BTC) surged above $93,000 on April 23, reaching its highest level in seven weeks. According to Cointelegraph, the surge may mark a pivotal shift in the four-year cycle, potentially accelerating BTC’s trajectory toward new highs before the end of 2025.
“This might be the last chance to buy Bitcoin below $100,000,” predicted Arthur Hayes, co-founder of BitMEX, citing incoming U.S. Treasury buybacks as the next major catalyst.
Weakening Dollar Reinforces Bitcoin's Safe-Haven Narrative
Adding to the bullish backdrop is the ongoing decline in the U.S. Dollar Index (DXY), which has dropped nearly 9% year-to-date, hitting a three-year low of 98.8, per TradingView data.
“Macro factors like a weakening dollar and rising gold correlation are reinforcing Bitcoin’s role as a hedge against economic volatility,” said Ryan Lee, chief analyst at Bitget Research.
Gold, which hit an all-time high this week, is increasingly moving in tandem with Bitcoin — strengthening the safe-haven narrative amid global macro uncertainty.
Analysts: Bitcoin No Longer “Shadowing Tech,” Now a Macro Asset
Market analysts note that Bitcoin is decoupling from tech stocks and gaining traction as a macro-economic hedge, similar to gold.
“Bitcoin is no longer trading in the shadows of tech. It’s becoming a lens through which macro uncertainty is priced,” said Iliya Kalchev, an analyst at Nexo.
“Its strength amid dollar weakness, record gold prices, and renewed institutional buying reflects a market recalibrating what safety looks like.”
Nansen CEO Alex Svanevik echoed this sentiment, noting that Bitcoin has recently behaved “less like Nasdaq, more like gold,” especially as economic recession fears loom.
