The most powerful fuel turned out to be record-breaking capital flows to American immediate ETFs (spot ETFs) on Bitcoin. According to Bloomberg data, cumulative inflows have exceeded $ 40.33 billion from the beginning of the existence of the funds, completely erasing the February and marc wave of payments in just a few weeks.
The analyst James Seyffart emphasizes that this record is growing slowly because it does not take into account internal turnover – therefore the new peak testifies to the inflow of fresh funds, and not to move the already involved capital. Flowers are also not even: May 10 this year. Only the Fidelity Fund attracted another $ 45 million. net, while some smaller issuers had a day without a transaction, but the total balance remained positive.
As a result, ETFs “suck” more digital coins from the market every day than miners extract after last year's division of the prize for a block (halving). The supply deficiency strengthens the pressure to price increase.
Bitcoin regains strength
The second pillar of Hossa is the rapidly growing number of companies receiving Bitcoin as a tax act. During the “Bitcoin for Corporations” conference in Orlando Michael Saylor, one of the largest investors in Bitcoin, stated that companies holding reserves in BTC gain “interpretation of strength”, and the president of Strategy (formerly: Microstrategy) Phongy assessed that during the year the number of listed entities with such policy will increase from 70 to 700.
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In the footsteps of Strategy follows, among others Japanese conglomerate of metaplanet. His president talks about the tsunami corporate demand on Bitcoin as protection against weakening yen. New Fasb accounting principles, allowing you to value cryptoactic according to fair value, additionally reduce the entry barrier for financial directors afraid of balance sheet volatility.
The macroeconomic background remains unchanged: accelerating the expansion of global liquidity. Julien Bittel from Global Macro Investor published an updated chart, on which price Bitcoin almost a point in the point follows the annual dynamics of the global money supply M2 – And this has been accelerating again since the beginning of the year. “We're going higher” – comments the economist, indicating that some of the newly created money goes to Bitcoin.
This correlation appeared in previous cycles and strengthens the narrative about cryptocurrency as a “safety valve” in the event of spoilage of fiduci currencies.
Protection against inflation
Traditional motives of individual investors reach institutional purchases: fears of persistent inflation and growing public debt of the USA They prompt some of them to treat Bitcoin like a digital version of gold.
In such an environment, up to 10 % The rate of return since the beginning of the year – the chartsbtc service calculates that the exchange rate has increased from 93 thousand. $ 381 At the end of 2024 to 102 thousand $ 766 In April – it looks like an adventure for a greater movement. From the point of view of technical analysis, maintaining a level of 100,000 hole. turns old resistance into new supportand small realizations of profits after Tuesday's summit do not violate the growth trend structure.
Recent increases are the result of record inflows to ETFs, accelerated corporate adoption, expansion of global fluidity and strengthening Bitcoin reputation as a magazine of values. If these factors persist in the second half of the year – and now nothing indicates their weakness – The market may soon test further, even higher price levels. At the same time, it must be remembered that behind the rally to BTC there is a variable, non -linear market. Investors should therefore adapt risk management to the scale of potential fluctuations, which in Bitcoin's history appeared many times, even during the most spectacular bosses.
Note: The valuations included in the text are only informative and do not constitute a recommendation for the purchase or sale of financial products.
