Bitcoin

April

Rekt

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) price surged over the weekend, hitting local highs of $69,781.</li>
 <li>Increased institutional inflows and net ETF inflows of over $200 million signal a positive outlook for Bitcoin.</li>
</ul>
<p>Bitcoin experienced an unusual surge in price over the weekend, peaking at $69,781.</p>
<p>This price action, which is not typical for weekends, has sparked optimism among traders.</p>
<h2 id="weekend-price-surge">Weekend Price Surge</h2>
<p>The sudden surge in Bitcoin’s price over the weekend was reminiscent of its initial run to $70,000.</p>
<p>Traders are hopeful that the upward momentum will continue into the new week.</p>
<p>Michaël van de Poppe, founder and CEO of trading firm MNTrading, highlighted the importance of the $69,000 level.</p>
<p>He suggested that if Bitcoin breaks this level, it could continue its strong performance towards its pre-halving all-time highs.</p>
<h2 id="institutional-inflows-and-etfs">Institutional Inflows and ETFs</h2>
<p>As Bitcoin approaches new highs for April, there is also optimism regarding how institutional inflows might shape its future.</p>
<p>Last week’s rebound in net flows among US spot Bitcoin exchange-traded funds (ETFs) has set a positive tone.</p>
<p>The largest global asset manager, BlackRock, added several major US banks as authorized participants.</p>
<p>According to the latest data, including from UK-based investment firm Farside, April 5 ended with net ETF inflows of just over $200 million, bringing the week’s total to around $570 million.</p>
<p>This suggests that institutional interest in Bitcoin is growing, which could potentially drive its price higher in the future.</p>
<p>However, a chart accompanying the analysis noted the ongoing existence of a bearish divergence, increasing the chances of a Bitcoin price rejection at $72,000.</p>
<p>Despite this, analyst Rekt Capital suggests that Bitcoin is well-positioned for a bullish weekly candle close.</p>
<p>The question remains whether it can hold above the $69,000 mark until the weekly close.</p>

Bitcoin Enthusiasts Push BTC Price Towards Unusual Weekend High of $70K

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