- Bitcoin rebounded past $90,000, reversing its month-long bearish trend with a 5.64% daily increase and now up 7.71% over the past 30 days, signaling renewed investor confidence in the asset
- Institutional players and central banks continue accumulating Bitcoin, with major purchases from Michael Saylor’s Strategy and Japan’s Metaplanet reinforcing the asset’s growing role as a store of value
- Bitcoin ETFs recorded their highest daily inflows in over two months, suggesting institutional investors are back in accumulation mode as economic instability fuels demand for alternative assets
Bitcoin shocked everyone today as the asset regained momentum, breaking through a key psychological level. Today, on April 22nd, the world’s largest cryptocurrency regained the $90,000 status—currently trading at $91,602.
The leading cryptocurrency on the market is boasting a substantial 5.64% increase over the last 24 hours. Its most recent momentum was able to reverse the month-long bearish trend, now trading at a 7.71% increase over the last 30 days.
Institutional Adoption Leading The Way
Throughout the last two months, Bitcoin saw its price decrease by over 20% from its all-time high, leading many investors to panic over the possibility of a complete reversal back to pre-November levels.
If once upon a time institutions would be among the first to sell off their digital assets, this year’s trend of companies and central banks accumulating $BTC eventually paid off. Just recently, Michael Saylor’s Strategy added another 6,556 BTC to its balance, while the Japanese firm Metaplanet added $28 million in the asset just yesterday.
This trend reinforces the idea that Bitcoin as a true store of value could become the norm moving forward. Adding to this fact, the digital asset fared a lot better than stock in April, potentially meaning that investors could begin accumulating $BTC in uncertain economic times.
Bitcoin ETFs Back On Track
The bullish reversal could be noted by yesterday’s Bitcoin ETF movements. On Monday, the collective of exchange-traded funds added $381 million in $BTC to its reserve. This marks the highest daily inflow in over two months and potentially shows a reversal in trend after several consecutive days of outflows.
The sharp rebound in Bitcoin’s price comes after months of downward pressure, suggesting that institutional players remain committed to the asset. As global economic instability persists, investors seem to be shifting toward BTC as a reliable alternative to traditional assets.
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