Bitcoin holds near $78,000 on strong ETF inflows, exchange reserves near record lows
Synopsis
Bitcoin held near $78,000, supported by steady ETF inflows and low exchange reserves, indicating sustained institutional demand. Ethereum declined while altcoins showed mixed trends. Market sentiment remains stable amid easing macro concerns, though profit booking and futures-driven momentum suggest cautious near-term upside as investors track key resistance levels.
Bitcoin is holding near the $78,000 mark on Friday, backed by strong inflows and extending a seven-day streak of net inflows. The cryptocurrency was trading near the $77,693 mark, witnessing a marginal decline of 0.15% in the past 24 hours.
Ethereum fell 1.63% in the past 24 hours to trade near the $2,306 level. Among the major altcoins, BNB, Solana, and Tron saw a decline of less than 1%, whereas XRP, Dogecoin, Hyperliquid and Cardano gained up to 1.30%.
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Akshat Siddhant, Lead Quant Analyst, Mudrex, said Bitcoin is maintaining its uptrend above $78,000, supported by strong ETF inflows, with spot Bitcoin ETFs adding over $335 million and extending a seven-day streak of net inflows.
Crypto TrackerTOP COINS (₹) XRP135 (0.91%)Tether94 (0.28%)Bitcoin7,315,615 (-0.17%)BNB59,653 (-0.36%)Ethereum217,194 (-1.61%)
At the same time, Bitcoin exchange reserves are near all-time lows, and this scarcity amplifies buying pressure while indicating that the intent to sell is on the lower end, Siddhant further said.
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The global crypto market capitalisation went up 0.06% to $2.59 trillion, according to .
Riya Sehgal, Research Analyst at Delta Exchange, said the crypto market shows controlled strength, with Bitcoin holding near $78,000 after a recovery from recent lows, and the macro conditions support risk appetite, with easing geopolitical tensions and a rebound in equities. Spot Bitcoin ETFs continue to see inflows, alongside stable derivatives positioning.
Last week, Bitcoin was up 3.77%, whereas Ethereum was down 1.15%. Among the major altcoins, XRP, Solana, Dogecoin, Hyperliquid and Cardano slipped up to 5.97%, whereas BNB and Tron were up 0.55% and 0.73% respectively.
Bitcoin has gained roughly 11% over the past month, supported by sustained institutional demand. US-listed spot Bitcoin ETFs have recorded over $2 billion in inflows in April alone, with a recent seven-day streak adding nearly $1.9 billion, said WazirX Market’s Desk
Within the crypto ecosystem, institutional activity currently remains a key driver. Large allocations, including corporate treasury purchases and new ETF launches, continue to add liquidity. At the same time, regulatory developments in the US, particularly expectations around the proposed CLARITY Act, are shaping overall market sentiment, WazirX Markets Desk further said.
What do other analysts say
Vikram Subburaj, CEO, Giottus
Market capitalisation stood at roughly $1.55-$1.57 trillion. The move appears to be driven more by institutional demand than by broad retail participation. Markets are now watching whether Bitcoin can maintain acceptance above the mid-$77,000 range. That area has become the short-term equilibrium band.
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On-chain data suggests that roughly 43.2% of the short-term holder supply remains in profit. This is below the historical exhaustion threshold of roughly 54.2%. The Realised Profit/Loss Ratio has risen to about 1.16. That indicates investors are beginning to realise gains in strength.
CoinSwitch Markets Desk
BTC moved close to the $80K mark before easing back below $79K, with ongoing US–Iran developments continuing to drive short-term moves. The recent ~12% monthly rise toward $79K shows momentum, although much of the move has been supported by activity in futures markets rather than steady spot buying.
At the same time, some short-term investors are taking profits after the rally, which is a normal part of market cycles. The $80K level remains important, and if demand continues to build, BTC could touch $80K and gradually attempt another move higher in the near term.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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