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▲ Bitcoin (BTC), Ethereum (ETH)/ChatGPT generated image
Bitcoin (BTC) and Ethereum (ETH) are building a rebound trend amidst geopolitical instability, driven by large-scale spot ETF fund inflows.
According to cryptocurrency media outlet FXStreet on April 20 (local time), Bitcoin entered a directional exploration phase, securing strong support around $75,000. Although the heightened tension between the US and Iran brought the Strait of Hormuz risk to the forefront, investor sentiment in the virtual asset market actually showed signs of recovery. The Fear & Greed Index rapidly improved from the extreme fear zone, indicating a rebound in investor sentiment.
The inflow of institutional funds is acting as a key driving force supporting the market. Bitcoin spot ETFs saw an inflow of over $600 million in a single day, marking the largest volume in recent months. Continuous net inflows are leading to a rapid expansion of the cumulative asset size. These fund flows are supporting the price floor and strengthening the basis for an upturn.
Ethereum is also driving the market rebound with institutional buying interest. Ethereum spot ETFs also recorded their highest recent inflow, with over $100 million entering. The price maintains a stable trend above key moving averages, increasing the possibility of an upward reversal. The Relative Strength Index also indicates buying dominance, supporting the positive trend.
XRP is also securing a support zone amid steady inflows of institutional funds. It has formed a short-term bottom based on key moving averages, and breaking through the critical resistance zone is identified as crucial for further upside.
Currently, the virtual asset market is in a phase of accumulating energy before breaking through key resistance zones. If Bitcoin surpasses the upper resistance, the pace of ascent could accelerate significantly. However, the possibility of renewed volatility cannot be ruled out if geopolitical risks expand.
As institution-led fund inflows absorb external shocks and enhance market resilience, attention is focused on whether this will lead to a full-fledged upward trend by the end of April.
*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*
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