According to blockchain analytics insights, a major factor behind Bitcoin’s recovery from its April slump near $75,000 has been the substantial inflow into spot Bitcoin ETFs, especially during late April. On April 22 alone, net inflows approached nearly $1 billion—a level not seen since mid-January.

Although that pace has eased in recent weeks, daily inflows remain steady, signaling ongoing appetite from institutional players.

Retail behavior is also reinforcing the trend. Recent data shows that short-term holders have been heavily accumulating Bitcoin in the $93K–$95K range. As prices surged to highs around $104K, around 90% of these traders were sitting on unrealized profits—prompting some selling pressure and contributing to the current pause in upward movement.

With Bitcoin now consolidating just above $102K, analysts identify the $93K–$95K zone as a likely cushion in case of short-term corrections. However, not everyone is fully bullish in the immediate term. Market watchers like Valentin Fournier note that technical indicators suggest mild overbought conditions, particularly as trading volumes typically thin out over weekends.

Still, the broader view remains cautiously optimistic. Strong demand from institutional buyers, coupled with a clear pattern of accumulation, suggests that Bitcoin’s long-term support is intact—even if short-term volatility returns.

The post Wall Street Interest Keeps Bitcoin Stable After April Recovery appeared first on Coindoo.

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Filed under: Bitcoin - @ May 17, 2025 4:01 am