News HeadlinesPrice ActionBTC continues to look strong after accelerating off the 1-year moving average and breaking back above the 200-day moving average. The next noteworthy upside target is the range resistance at $106,000.
Figure 1: BTC has broken back into the range. This past month has seen a steady increase of +14.21% as BTC has recovered from global market concerns about Trump tariffs.
Figure 2: BTC has recovered well in recent weeks. While sentiment has returned to more neutral levels, there is yet to be a return to confidence. That return to confidence is unlikely to happen until Bitcoin can break back above the psychological number of $100,000. The Big Story: Monster 2-week inflows for Bitcoin ETFsAfter a jittery start to April, when fresh tariff threats from former President Trump cast a shadow over risk assets, capital is now flowing back into spot Bitcoin ETFs in force. The rebound began the week of April 21-25, and by the close of trading on Friday, May 2, the products had absorbed roughly US $4.8 billion in total.
Figure 3: Total net inflows into U.S. spot-Bitcoin ETFs BlackRock’s iShares Bitcoin Trust (ticker IBIT) has dominated the flow tables. It collected about US $1.3 billion in the April 21-25 window and an even heftier US $2.48 billion the following week. This means that the IBIT fund alone captured nearly four out of every five dollars that entered the entire ETF complex.
Figure 4: Net inflows into iShares Bitcoin Trust (IBIT) This persistent domination by the IBIT BlackRock ETF can be seen by the cumulative flows across the various ETFs over time. The growth is being driven by the BlackRock IBIT ETF shown as the yellow section on the chart below:
Figure 5: Cumulative ETF flows over time. April in the greenThe scale and persistence of these ETF allocations helped Bitcoin finish April in the green with a gain of +14.21% despite the tariff-related market angst earlier in the month. Quite a turnaround for Bitcoin.
Figure 6: BTC monthly returns heatmap. The renewed ETF demand appears to have cushioned price dips and rekindled risk appetite, positioning Bitcoin to retest year-to-date highs if macro-economic uncertainty can fully subside as we head towards the second half of 2025. Live Chart Review: Bitcoin Cycle Master
Figure 7: Bitcoin Cycle Master What is this chart showing? Bitcoin Cycle Master is a combination of on-chain metrics including Coin Value Days Destroyed and Terminal Price. The metrics that make up Bitcoin Cycle Master track actual economic behavior on the Bitcoin blockchain. They are able to identify where Bitcoin price is valued relatively within its cycles. Historically those cycles have been approximately every 4 years and correlate with Bitcoin Halving events. Bitcoin Cycle Master can identify periods of increased risk when transaction behavior on-chain is indicative of major cycle highs. It also identifies areas of value opportunity where on-chain transaction behavior signals major cycle lows. It does this by creating a band of value lines on the chart:
Latest data In last month's recent downturn, BTC tapped the Fair Market Value (purple) line. It is yet to break above the Aggressively Valued (yellow) line this cycle. It has broken above both that and the Over Valued (red) line in previous cycles. This suggests there may be significant further upside to come this cycle. Bitcoin Magazine Pro subscribers can monitor this live chart and set alerts to know when BTC price reaches its key levels. We look forward to seeing you on the platform! The Bitcoin Magazine Pro Team. Bitcoin Magazine Pro
For more detailed Bitcoin analysis and to access advanced features like live charts, personalized indicator alerts, and in-depth industry reports, check out Bitcoin Magazine Pro. Make Smarter Decisions About Bitcoin. Join millions of investors who get clarity about Bitcoin using data analytics you can't get anywhere else. We don't just provide data for data's sake, we provide the metrics and tools that really matter. So you get to supercharge your insights, not your workload. Take the next step in your Bitcoin investing journey:
Invest wisely, stay informed, and let data drive your decisions. Thank you for reading, and here’s to your future success in the Bitcoin market! 🎁 Special Offer: Use Code: BMPRO For 10% OFF All Bitcoin Conference Tickets
Disclaimer: This newsletter is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions. We sincerely appreciate your support and hope you found this content valuable. Please leave a like and let us know your thoughts in the comments section; we always welcome feedback from our audience!
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Monday, May 5, 2025
Monster Bitcoin ETF Inflows
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