Bitcoin ETF Inflows Surge as BTC Holds Near $70,000

Bitcoin hovered around $68,780 on Tuesday as U.S. spot bitcoin ETFs recorded their strongest single-day inflows in over a month, signaling renewed institutional appetite despite the cryptocurrency's persistent struggle to break above the $70,000 resistance level.

According to SoSoValue data, spot bitcoin ETFs collectively attracted $471 million on April 6 — the largest daily inflow since February 25 and the sixth-highest daily total recorded this year. While impressive, the figure still trails January's peak period, when several trading sessions each surpassed $700 million in inflows.

The surge in ETF demand comes at a critical moment for bitcoin. Weak spot market activity and continued distribution from large holders, commonly referred to as whales, have kept upside momentum in check. Institutional ETF flows have increasingly stepped in as the primary driver of marginal buying pressure, helping stabilize prices that might otherwise face steeper corrections.

On the macroeconomic front, direction remains limited. Prediction markets are pricing in a near-certain probability that the Federal Reserve will leave interest rates unchanged at its upcoming April meeting, with little expectation of cuts or hikes in the near term.

What makes the current cycle particularly notable is a structural shift in how bitcoin responds to global monetary policy. A Binance Research report reveals that bitcoin's correlation with central bank easing — tracked across 41 institutions worldwide — has turned sharply negative since 2024, the same year U.S. spot ETFs received regulatory approval. Historically, bitcoin followed easing cycles with a delay. That dynamic has now reversed, with the inverse relationship nearly three times stronger than before.

The reason, analysts suggest, is a change in who drives price discovery. ETF-backed institutional investors tend to position ahead of anticipated policy shifts rather than reacting afterward. As Binance Research put it, bitcoin may have evolved from a macro lagging receiver into a leading pricer — a forward-looking asset that moves before traditional markets catch up.