Bitcoin Breaks $70K Barrier Amid ETF Inflows and Market Optimism

Date: May 1, 2025

By CryptoDesk News

Bitcoin surged past the $70,000 mark today for the first time in over a month, fueled by sustained institutional inflows into U.S.-based spot Bitcoin ETFs and renewed investor optimism about macroeconomic stability.

According to data from CoinMetrics, Bitcoin climbed over 4% in the past 24 hours, briefly reaching $70,850 before retreating slightly. The rise mirrors a broader bullish sentiment across the crypto market, with Ethereum also up 3.2% and Solana posting a 5% gain.

The recent uptick comes after BlackRock and Fidelity reported a combined $1.2 billion in net inflows to their Bitcoin ETFs over the last week, reflecting strong institutional demand. Analysts say the approval of crypto-friendly regulations in several G20 nations has further boosted investor confidence.

“This breakout confirms that Bitcoin remains a sought-after hedge against inflation and geopolitical uncertainty,” said Lisa Turner, a crypto analyst at Galaxy Digital.

Meanwhile, Ethereum developers have announced the successful testing of the Pectra upgrade, scheduled for mainnet deployment in late Q2 2025. The upgrade is expected to improve network efficiency and gas fee predictability, adding to the positive momentum in the altcoin space.

However, some experts warn of volatility ahead. “While the trend is promising, traders should remain cautious due to potential profit-taking and regulatory surprises,” said Raj Patel, chief strategist at CoinTrust.

As crypto markets continue their upward trajectory, investors are closely watching the U.S. Federal Reserve's upcoming interest rate decision and further developments in ETF markets