The stock market lost $1.5 trillion yesterday, while BTC, on the contrary, gained and is back above $90,000, outperforming stocks and acting as a hedge against the dollar. For continued growth, it is very important to break through the resistance in the range of $91-93,000; at the moment, many metrics look positive. On April 17, I wrote that I expect price movement of Bitcoin in the medium and long term. For now, I maintain the current forecast, and Bitcoin remains on track with the money supply M2, which indicates upcoming growth.
📈Yesterday, the net inflow into Bitcoin ETFs amounted to $381.4 million, and ETF-BTC now occupies 90% of the crypto fund market worldwide.
💥$ETH has fallen to its lowest valuation relative to $BTC BTC since January 2020; nevertheless, preparations are underway for liquidity injection into altcoins. This year, the approval of many new ETFs based on altcoins and even meme coins is expected – there is a queue of 72 applications for crypto ETFs at the SEC. The list includes many coins from XRP, LTC, and SOL to DOGE, MELANIA, and PENGU.
