A surge of capital is flooding into the crypto market. Bitcoin jumped 12% this week, surpassing the gains of the three major U.S. indices.
A surge of capital is flooding into the crypto market. Bitcoin jumped 12% this week, surpassing the gains of the three major U.S. indices.
On Sunday (April 24), Bitcoin (BTC) continued its upward trend, breaking past $95,000. Since April 21, Bitcoin has risen for seven straight days, totaling nearly a 12% increase. This could mark the largest weekly gain since Trump won the U.S. presidential election.
This week, Bitcoin outperformed the three major U.S. stock indices. According to macromicro data, the Nasdaq rose about 9%, the S&P 500 gained around 7%, and the Dow Jones increased by about 5%.
Macro and geopolitical forces are driving this influx of capital. CoinMarketCap reports a net inflow of about $300 billion this week. This pushed the total market cap of crypto from $2.66 trillion to a peak of $2.99 trillion. The U.S. spot Bitcoin ETF alone saw over $3 billion in net inflows, with trading volume reaching $19 billion.
According to CryptoQuant analyst ITTech, interest in Bitcoin purchases is significantly rising. ITTech noted, "A strong rebound from extreme negative values (below -200K BTC) indicates that previously dormant capital is flowing back in."
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