Bitcoin surges toward $80K
- Bitcoin traded around $78,200 on Sunday, April 26, after briefly nearing $80,000 last week as U.S. spot Bitcoin exchange-traded funds extended April inflows. - Strategy, the company formerly known as MicroStrategy, reported owning 815,061 Bitcoin after buying 34,164 more on April 20 for about $2.54 billion. - U.S. spot Bitcoin funds have taken in about $2.4 billion in April after months of weaker demand. (farside.co.uk)
Bitcoin was trading near $78,200 on Sunday, April 26, after a run that brought it close to $80,000 earlier in the week. (strategy.com) The immediate driver was steady demand from U.S. spot Bitcoin exchange-traded funds, which logged eight straight inflow days through April 24. Farside Investors’ data shows those funds added about $2.1 billion from April 15 through April 24. (farside.co.uk) (coindesk.com) BlackRock’s iShares Bitcoin Trust, trading under the ticker IBIT, led much of that move. Farside’s daily table shows IBIT took in $167.5 million on April 23 alone and $22.9 million on April 24. (farside.co.uk) A spot Bitcoin exchange-traded fund is a stock-market vehicle that holds Bitcoin directly, so investors can buy exposure in a brokerage account without handling crypto wallets or private keys. When money flows into those funds, the issuer typically has to buy more Bitcoin to match demand. (coindesk.com) The other big buyer is Strategy, the software company that turned itself into the largest corporate holder of Bitcoin. Its purchase log shows it owned 815,061 Bitcoin as of April 20, after buying 34,164 coins for about $2.54 billion at an average price of $74,395. (strategy.com) That holding put Strategy ahead of BlackRock’s IBIT on Bitcoin owned, according to CoinDesk’s April 21 report. The gap is narrow, but it shows how much one public company now shapes Bitcoin demand alongside the exchange-traded funds. (coindesk.com) (strategy.com) The April rebound follows a weaker stretch earlier this year. CoinDesk reported on April 1 that U.S. spot Bitcoin funds had just posted their first monthly inflows since October, after a period of outflows and falling prices. (coindesk.com) Price action has not been one-way. CoinDesk reported on April 23 that Bitcoin hit $79,388 before slipping back, with profit-taking showing up as traders sold into the rally. (coindesk.com) For now, the market is balancing two concrete forces: fund inflows that require fresh Bitcoin buying, and traders using rallies near $80,000 to lock in gains. Sunday’s price near $78,200 leaves Bitcoin close enough to that level for both sides to keep testing it. (strategy.com) (coindesk.com)
