The narrative of BTC as a safe-haven asset and a tool for hedging inflation is once again relevant among large investors, experts from the Singapore trading company QCP Capital reported.
The inflow of funds into spot BTC-ETFs last week was positive. Funds received an additional $15.85 million from April 14 to 17, which sharply contrasts with the outflow of capital that had been ongoing since the beginning of the month.
Risk reversals — a measure of market sentiment that gauges the price difference between options for rising and falling assets — have aligned, deviating from the skew that dominated the last month, analysts noted.
The alignment of the indicator means for BTC that traders no longer expect a sharp decline in the price of the first cryptocurrency. This indicates a rise in optimism among market participants, according to experts from QCP Capital. In their opinion, if this momentum continues, it could provide an additional boost for institutional investments in BTC in the second quarter of the year.
Currently, the price of $88,000 remains a key resistance level for the asset. Until BTC surpasses this level and establishes itself, it is premature to talk about the beginning of a new bull trend, analysts stated. The synchronous rise of BTC and gold amid falling stock markets is forming a new picture. If this pattern becomes sustainable, it could signal broader 'institutional acceptance of the first cryptocurrency,' experts explained.
