Bitcoin's recent surge over the Easter weekend represents a shift in market dynamics, with significant institutional interest driving prices. On April 22, Bitcoin broke the $91,000 mark, a 9% increase, aligning with a bullish trend observed in gold. The derivatives market signals further optimism, as Bitcoin open interest rose by 17%, indicating a growing bullish sentiment among traders. The Coinbase Bitcoin Premium Index suggests a shift from retail to institutional buying, particularly after MicroStrategy's purchase of over 6,000 BTC. Additionally, BTC ETFs saw a reversal in outflows, suggesting renewed confidence from traditional investors. Macro factors, including growing tensions between U.S. governmental figures over inflation and monetary policy, are putting pressure on the U.S. dollar, positioning Bitcoin as a potential beneficiary amid these dynamics. The overall sentiment echoes Bitcoin's narrative as a decentralized alternative to traditional finance, especially as confidence in established monetary systems wavers.

Source 🔗