Bitcoin is on the verge of achieving its strongest weekly gains since Trump's victory, attracting ETF inflows worth $2.7 billion.
Bitcoin (BTC) continued its spring rise on Friday, on track to achieve its strongest weekly performance since Trump's election victory.
The largest and oldest cryptocurrency stabilized at around $95,000 during the afternoon hours in the United States, rising by 1.8% over the past twenty-four hours. Ethereum (ETH) followed significantly behind, rising by 2% to hover around $1,800. Bitcoin Cash (BCH), SUI from the company Sui, and HBAR from Hedera led the gains in the CoinDesk 20 index, which is a benchmark for cryptocurrencies in the public market.
Today's gains crown an exceptional momentum for cryptocurrency markets recovering from their lows in early April amid tariff disruptions. Bitcoin has risen more than 11% since Monday, recording its largest weekly gain since November 2024, when Donald Trump won the U.S. presidency, sparking a broad rally in the cryptocurrency market.
Investor appetite from ETF investors has also rebounded strongly: U.S.-listed Bitcoin spot ETFs recorded net inflows of $2.68 billion this week so far, the largest since December, according to SoSoValue data. (The inflow data for Friday will be published later).
Bitcoin Decoupling
David Dong, Head of Global Research at Coinbase Institutional, stated that Bitcoin's recent strength compared to U.S. stocks and gold confirms its decoupling from traditional macroeconomic assets.
Dong stated in a report released on Friday: "It is rare to witness turning points in the market in real-time, as we only recognize major shifts in the system after time and reflection." He added: "This week's decoupling of Bitcoin's performance from traditional macroeconomic assets may be as close as we get to this moment."
"In our view, this divergence highlights the mature role that Bitcoin plays as a store of value asset - which is increasingly seen by both institutional and retail investors as resilient against the macroeconomic forces affecting risk assets more broadly," it was written.