Largest Daily Inflow Since January Signals Growing Institutional ConfidenceBitcoin exchange-traded funds (ETFs) recorded their strongest daily net inflows in over three months, as institutional investors returned to the market amid signs of easing U.S.-China trade tensions and a weakening U.S. dollar.According to data from Farside Investors, U.S. spot Bitcoin ETFs saw $912 million in cumulative net inflows on April 22, marking the highest single-day inflow since January 21, 2025.“Bitcoin ETPs just saw the largest daily inflows since 21st January in a dramatic improvement in sentiment,” said James Butterfill, head of research at CoinShares.Trade War De-escalation Triggers Risk-On SentimentInvestor confidence improved after President Donald Trump signaled a substantial reduction in tariffs on Chinese imports, describing the current 145% rate as unsustainable. U.S. Treasury Secretary Scott Bessent also hinted at a more diplomatic stance, calling the standoff “unsustainable” in remarks to Bloomberg on April 22.The policy shift toward de-escalation has been interpreted as a tailwind for risk assets — including Bitcoin — prompting institutional capital to return via regulated ETF products.Bitcoin Breaks Above $93K Amid ETF SurgeFueled by growing ETF inflows and a favorable macro backdrop, Bitcoin (BTC) surged above $93,000 on April 23, reaching its highest level in seven weeks. According to Cointelegraph, the surge may mark a pivotal shift in the four-year cycle, potentially accelerating BTC’s trajectory toward new highs before the end of 2025.“This might be the last chance to buy Bitcoin below $100,000,” predicted Arthur Hayes, co-founder of BitMEX, citing incoming U.S. Treasury buybacks as the next major catalyst.Weakening Dollar Reinforces Bitcoin's Safe-Haven NarrativeAdding to the bullish backdrop is the ongoing decline in the U.S. Dollar Index (DXY), which has dropped nearly 9% year-to-date, hitting a three-year low of 98.8, per TradingView data.“Macro factors like a weakening dollar and rising gold correlation are reinforcing Bitcoin’s role as a hedge against economic volatility,” said Ryan Lee, chief analyst at Bitget Research.Gold, which hit an all-time high this week, is increasingly moving in tandem with Bitcoin — strengthening the safe-haven narrative amid global macro uncertainty.Analysts: Bitcoin No Longer “Shadowing Tech,” Now a Macro AssetMarket analysts note that Bitcoin is decoupling from tech stocks and gaining traction as a macro-economic hedge, similar to gold.“Bitcoin is no longer trading in the shadows of tech. It’s becoming a lens through which macro uncertainty is priced,” said Iliya Kalchev, an analyst at Nexo.“Its strength amid dollar weakness, record gold prices, and renewed institutional buying reflects a market recalibrating what safety looks like.”Nansen CEO Alex Svanevik echoed this sentiment, noting that Bitcoin has recently behaved “less like Nasdaq, more like gold,” especially as economic recession fears loom.
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