According to a new report from Singapore-based cryptocurrency trading firm QCP Capital, the recent surge in Bitcoin's price above $87,000 may be more than just a typical holiday rise. Analysts at the firm say this move reflects increasing signs of renewed institutional interest, with Bitcoin ETFs returning to net inflows after a week of significant outflows. QCP reported net inflows of $13.4 million into U.S. Bitcoin ETFs last week. In a new report, QCP analysts noted that last week saw net inflows of $13.4 million into U.S. Bitcoin ETFs. This marks a decline from outflows of $708 million the previous week, coinciding with the sharp rise in Bitcoin's price during the Easter holiday. The analysts wrote, "While cryptocurrency markets are accustomed to low liquidity weekend spikes, this rise was different." Bitcoin (BTC) recouped a significant portion of the recent sell-off triggered by Trump's remarks about "Liberation Day," contrasting sharply with the muted Santa Claus rally we experienced in December. Analysts believe that this rise - coupled with inflows into ETFs - may indicate a return of institutional demand for Bitcoin as a safe haven, especially as traditional markets decline. They pointed out that gold has reached record levels while stocks have fallen, indicating a consolidation of the risk-averse trend in financial markets. Despite the optimism, QCP warned that Bitcoin must break the resistance level at $88,800 before confirming a sustainable upward trend.
The report stated: "We remain cautious about drawing definitive conclusions until Bitcoin can solidify its position above this key level." According to Farside data, most of the ETF inflows last week went to BlackRock's iShares Bitcoin Trust (IBIT), which attracted $186.5 million, followed by Bitwise's BITB fund with $23.8 million. Smaller contributions came from ETFs like Grayscale's mini BTC Trust, VanEck's HODL fund, Invesco's BTCO fund, and Franklin's EZBC fund, which collectively added $26.3 million. New Bitcoin holders are realizing profits, but the $91,000 resistance keeps selling pressure intact. Bitcoin's recent rise to $87,000 has renewed optimism, but many short-term holders (STH) are still in the red. According to sources, Bitcoin (BTC) investors with less than six months are facing an average unrealized loss of 5.18%, as their realized price hovers around $91,000. This level now represents a crucial psychological and structural resistance for the market. Bitcoin's realized market cap hits an all-time high: "The rise in realized market cap is a positive signal, showing increased confidence in both the network and the asset, indicating that we may not have reached the market cycle peak yet." - By - CryptoQuant.com (@cryptoquant_com) On a more optimistic note, new investors - who bought during the last month - are back in profit, now experiencing an average gain of 3.73%. However, risks remain. Unless Bitcoin decisively breaks the $91,000 barrier and establishes itself above this level, cryptocurrencies will remain underwater, keeping pressure on the market.
Failing to surpass this level could lead to renewed selling, especially if the upward momentum stalls. To restore market confidence, the company reported that surpassing the $91,000 level is crucial. Recently, Matt Hogan, Chief Investment Officer at Bitwise, reiterated his prediction from last December that Bitcoin's price could reach $200,000 before the end of 2025. Hogan argued that recent developments in U.S. trade policy, particularly under former President Donald Trump's renewal of tariffs, could provide a strong impetus for Bitcoin.
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