Bitcoin Approached Resistance Levels This Week Following Bullish Catalysts

Bitcoin approached resistance levels this week following bullish catalysts, including substantial ETF inflows, institutional investment announcements, and notable political developments.

Bitcoin price tested resistance levels this week following bullish catalysts, including large ETF inflows, new institutional investment announcements, and notable political developments.

The world’s leading cryptocurrency saw its price rise to $93,000-$94,000 before encountering selling pressure. Analysts are now warning of signs of a temporary top despite the recent upward momentum.

Bitcoin saw one of its most active weeks in terms of institutional flows. According to SoSoValue, spot Bitcoin ETFs recorded net inflows of $912 million on April 22 and $917 million on April 23—the highest two-day inflow since January 17, 2025.

These inflows came alongside a sharp uptick in trading volume and were accompanied by technical breakouts across several major moving averages.

> "New SEC Chair (and known crypto fan) Paul Atkins is speaking at the next SEC crypto roundtable on April 25th.

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MicroStrategy’s subsidiary, Strategy, added 6,556 BTC to its holdings for a reported $555 million. The purchase increased the company’s total Bitcoin exposure and reinforced corporate confidence in BTC as a treasury asset.

In other news, Cantor Fitzgerald, Tether, and SoftBank launched a new $3.6 billion Bitcoin investment firm, signaling the growing interest of institutions in financial products backed by the cryptocurrency.

Moreover, Bloomberg noted a shift in how traditional financial media is covering Bitcoin—highlighting it now as a “safe haven.” This marks a change from previous years, when reports often focused on the cryptocurrency’s volatility or price swings.

The change in tone showcases how institutions are increasingly framing Bitcoin as a portfolio hedge amid macroeconomic uncertainty. It remains to be seen how this narrative will be sustained in the coming months.

On the regulatory front, 72 crypto ETF applications are still pending approval by the U.S. Securities and Exchange Commission (SEC). This update comes ahead of the next SEC crypto roundtable on April 25.

The agenda will focus on "The Role of Digital Assets in Investing and Financial Innovation," with topics ranging from DeFi to crypto markets abuse. Notably, newly appointed SEC Chair Paul Atkins, known for his pro-crypto position, will be speaking at the event.

Also, Trump Media announced several ETF programs with Crypto.com. The news came as TRUMP (CRYPTO: TRUMP) price saw a surge.

The announcement of the programs, which will offer services in various financial markets, coincided with an increase in the TRUMP token’s price. The token experienced a rapid rise on April 23, recovering from a low of $0.000005 to reach a high of $0.000013, marking a 160% price surge within a few hours.

The price spike was also accompanied by a significant surge in trading volume, which reached over $60 million.

The announcement of the programs and the TRUMP token’s price surge came amid reports of a gala dinner invitation for the top 220 TRUMP token holders. An official Telegram channel confirmed the news, stating that the event will be held in celebration of the upcoming Spring Festival in China.

In a separate development, former President Donald Trump said that fresh tariffs might allow tax cuts for Americans.

"We’re going to put tariffs on a country—they’re going to pay the tariffs—then we’ll cut taxes for the people in this country with the money that they pay into their tariffs. So we’ll have no money, they’ll have no money, and we’ll be taxed heavily.”

The comment comes as the White House prepares to release President Biden's economic agenda later this year. A senior administration official told reporters on Monday that the administration is planning to propose a "bold and optimistic vision for the next generation of American prosperity."

The official said that the president's economic agenda will be focused on investing in clean energy, expanding access to affordable healthcare, and creating good-paying jobs. The administration is also planning to propose a new jobs bill and an increase in the minimum wage.

In a legal development, Alabama dropped its enforcement action against Coinbase (NASDAQ:COIN) after the crypto exchange agreed to pay $50,000 to settle the case.

The Alabama Securities Commission (ASC) had sued Coinbase in December for allegedly selling unregistered securities to Alabama investors. The ASC claimed that Coinbase should have registered as a securities broker-dealer in Alabama before selling its services to state residents.

Coinbase maintained that it is not required to register in Alabama because its products are not sold in the state. The company’s lawyers argued that investors in Coinbase’s products are engaging in a "contract of adhesion," which is a contract that is imposed by one party on another party in a weaker bargaining position.

After several months of litigation, the two parties reached a