Bitcoin Positioned for Major Weekly Gain Since Trump’s Victory, With ETFs Drawing $2.7B in Inflows

Friday saw significant gains across several major cryptocurrencies, with Sui (SUI), Bitcoin Cash (BCH), and Hedera’s HBAR leading the CoinDesk 20 Index. Bitcoin (BTC) remained strong in its spring rally, and analysts are now suggesting that this could be the beginning of a powerful run toward new all-time highs for the leading digital asset.

Bitcoin hovered around $95,000 during U.S. afternoon trading hours, marking a 1.8% increase in the past 24 hours. Ethereum’s ether (ETH) also saw a solid 2% jump, settling just above $1,800. Meanwhile, Sui’s native token (SUI), BCH, and Hedera’s HBAR stood out with impressive performance across the broader crypto market.

The rally has been a notable rebound for the crypto market, which had been facing challenges in early April due to global tariff uncertainty. Bitcoin’s 11% rise this week has made it one of its largest weekly gains since November 2024, when Donald Trump’s victory helped fuel a broader market rally.

A Surge in Bitcoin ETF Investment

Bitcoin’s momentum is also being fueled by strong investor interest in exchange-traded funds (ETFs). U.S.-listed spot Bitcoin ETFs saw net inflows of $2.68 billion this week alone, the largest such inflows since December, according to SoSoValue data. (Friday’s data will be released later.)

Bitcoin’s Growing Detachment from Traditional Markets

Bitcoin’s recent performance, particularly its strength relative to traditional assets such as stocks and gold, suggests that it may be decoupling from broader market trends. David Duong, Coinbase Institutional’s global head of research, believes this shift could be a turning point.

“We’re witnessing Bitcoin’s growing maturity as a store of value—one that is beginning to be seen as a safe haven amidst macroeconomic volatility,” Duong remarked. “This decoupling from traditional financial assets could be the beginning of a new market regime.”

The trend toward Bitcoin as a store of value has also been mirrored by increased institutional adoption. Duong pointed out that companies like Twenty One Capital, supported by major players such as Tether, Bitfinex, SoftBank, and Cantor Fitzgerald, are preparing to hold significant amounts of Bitcoin, further cementing its status as an asset class.

Reduced Liquidity Paving the Way for Larger Price Swings

Dr. Kirill Kretov, lead strategist at CoinPanel, highlighted that Bitcoin’s spot market liquidity has been shrinking, which may make the market more vulnerable to price volatility. According to CoinPanel’s blockchain analysis, liquidity from active Bitcoin addresses, including exchanges, has been withdrawn since November 2024.

“With less liquidity in the market, Bitcoin is more prone to price fluctuations,” Kretov said. “Expect sharp price swings of 10% or more, which could become the new norm for Bitcoin in the short term.”

Bitcoin’s Path to Record Highs

Despite these potential risks, John Glover, chief investment officer at crypto lender Ledn, remains optimistic about Bitcoin’s future. Based on Elliott Wave theory, Glover believes Bitcoin is currently in the final phase of its multi-year bull run.

Elliott Wave theory posits that asset prices follow predictable patterns driven by investor psychology. Glover expects Bitcoin’s price to reach new highs as part of the fifth and final wave of the current bull market.

While he acknowledges the possibility of a pullback to the $75,000 level, Glover forecasts that Bitcoin will eventually surge to a new cycle top, with potential prices between $133,000 and $136,000 by the end of 2025 or early 2026.

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