U.S. spot Bitcoin exchange-traded funds (ETFs) have experienced a significant inflow, recording eight consecutive days of investments that total approximately $2.1 billion as of April 23. This marks the longest streak of inflows since a nine-day run in October 2025, which propelled Bitcoin to its historic peak of $126,000. Notably, every measuring period tracked by Bloomberg ETF analyst Eric Balchunas is now in positive territory for the first time in several months.
Leading the charge, BlackRock’s IBIT ETF has attracted $3 billion in one-year flows, placing it among the top 1% of all ETFs. On April 23 alone, the market saw an influx of $223.21 million, with IBIT responsible for approximately 75% of this figure, contributing $167.49 million. On the contrary, Fidelity’s FBTC reported a notable outflow of $16.93 million.
During this inflow streak, Bitcoin’s price has surged from $68,000 to $77,000, signifying a 12% increase that aligns closely with renewed investor interest in ETFs. Cumulative net inflows for Bitcoin ETFs since their inception have reached $58 billion, while total assets have climbed to $102 billion.
In an important development, Bitcoin has managed to reclaim its True Market Mean at $78,100, a significant marker that reflects the average cost base of coins in circulation. This is the first time since mid-January that Bitcoin has reached this level. However, a new challenge lies ahead; the Short-Term Holder Cost Basis is currently at $80,100, which represents the average entry price for those who purchased Bitcoin within the last 155 days. Surpassing this threshold would allow over 54% of recent buyers to realize profits.
Historically, reaching this level often coincides with local price peaks, as short-term holders typically sell off to break even upon rallies. Analysis from Glassnode indicates that Short-Term Holder Realized Profit has surged to $4.4 million per hour, significantly higher than the $1.5 million threshold observed at previous local tops.
The funding rates for Bitcoin perpetual contracts remain negative, indicating that short positions are currently paying long positions. A recent short squeeze temporarily lifted Bitcoin’s value to $78,000 before a subsequent market correction occurred.
Furthermore, Bitcoin has surpassed the 20 EMA at $74,520, the 50 EMA at $72,806, and the 100 EMA at $75,479, all established as rising support levels beneath the current price. The Supertrend indicator has shown consistent green signals for two weeks, currently sitting at $70,847.
Despite the bullish momentum, the last significant technical barrier for Bitcoin is the 200 EMA, which stands at $82,566, just $4,300 shy of the current market price. Immediate support levels are identified at the 100 EMA ($75,479), followed by $74,017, and the Supertrend ($70,847). On the other hand, resistance levels are clustered around $80,000 and the critical 200 EMA, with another psychological barrier at $85,000.
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