A surge of capital is flooding into the crypto market. Bitcoin jumped 12% this week, surpassing the gains of the three major U.S. indices.
On Sunday (April 27), Bitcoin (BTC) continued its upward trend, breaking past $95,000. Since April 21, Bitcoin has risen for seven straight days, totaling nearly a 12% increase. This could mark the largest weekly gain since Trump won the U.S. presidential election.
Bitcoin price trend chart, source: TradingView.
This week, Bitcoin outperformed the three major U.S. stock indices. According to macromicro data, the Nasdaq rose about 9%, the S&P 500 gained around 7%, and the Dow Jones increased by about 5%.
Macro and geopolitical forces are driving this influx of capital. CoinMarketCap reports a net inflow of about $300 billion this week. This pushed the total market cap of crypto from $2.66 trillion to a peak of $2.99 trillion. The U.S. spot Bitcoin ETF alone saw over $3 billion in net inflows, with trading volume reaching $19 billion.
According to CryptoQuant analyst ITTech, interest in Bitcoin purchases is significantly rising. ITTech noted, "A strong rebound from extreme negative values (below -200K BTC) indicates that previously dormant capital is flowing back in."
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