Bitcoin nears $80K on $630 million ETF inflows; surges 12% in April, strongest monthly gain in a year
Synopsis
Bitcoin surged past $79,900, fueled by strong ETF inflows and marking its best monthly gain in a year. Analysts anticipate continued momentum towards the mid-$80,000s, with the Federal Reserve’s leadership transition being a key macro driver. The cryptocurrency’s resilience and growing maturity are evident as it crosses significant price milestones.
Bitcoin traded at $79,900 on Monday after reaching $80,526 mark in the early session, supported by strong inflows. Bitcoin gained nearly 12% in April, marking its strongest monthly gain in a year. The cryptocurrency was trading at the $79,902 mark.
Ethereum and Bitcoin were up 3% and 2% respectively in the past 24 hours. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Hyperliquid and Cardano rallied up to 4%.
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Akshat Siddhant, Lead quant analyst, Mudrex said Bitcoin is trading firmly near $80,000 as buyers regain control, supported by $630 million in ETF inflows on Friday. With Bitcoin marking strongest gain in April, the momentum is expected to continue through May as traders place mid $80k as the next target.
Crypto TrackerTOP COINS (₹) Ethereum225,274 (2.84%)Bitcoin7,586,366 (2.04%)BNB59,751 (1.92%)XRP134 (1.91%)Tether95 (0.11%)
Siddhant further said that the primary macro trigger for the coming sessions remains the Federal Reserve leadership transition, which continues to reprice risk asset expectations.
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The global crypto market capitalisation went up 2% to $2.65 trillion, according to .
CoinDCX Research Team said nearly $280 million in shorts were liquidated in the past 24 hours, with Bitcoin alone accounting for more than $157 million.
In the past week, Bitcoin and Ethereum were up 3% and 2% respectively. Among the major altcoins, BNB, Tron, Dogecoin, and Cardano rallied up to 14% whereas XRP, Solana, and Hyperliquid corrected up to 2%.
Vikram Subburaj, CEO, Giottus said it is up 2.5% in 24 hours with a market capitalisation of about $1.60 trillion and the move is important because Bitcoin has crossed the $78,100 True Market Mean Price. This level had acted as the main near-term ceiling in mid-April.
Market perspective
CoinSwitch Markets Desk
Bitcoin briefly dipped near $78K before recovering back toward $79K, showing buyers are stepping in on declines. Two consecutive monthly gains after decline suggest momentum is improving, though the broader trend is still stabilizing. April’s rally was supported in part by leveraged futures activity, alongside relatively softer spot demand, which may influence how steadily the trend develops.
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Raj Karkara, COO, ZebPay
Bitcoin crossing the $80K mark, for the first time in over 3 months, is more than just a price milestone, it reflects the asset’s resilience, growing maturity, and its ability to sustain long-term investor conviction through multiple market cycles.
Nischal Shetty, Founder, WazirX
Price action indicates demand is persisting despite a challenging macro backdrop. Bitcoin’s technical indicators state that the market is sitting in a mildly bullish but slightly stretched zone. Momentum indicators like MACD indicate there is still strength in the current move.
(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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