Bitcoin is set to close April with its most significant gains since the fourth quarter of 2024, currently trading near $77,500. This surge marks a notable turnaround after five consecutive months of decline, the longest losing streak since 2018. If Bitcoin closes at its current level, April's performance will narrowly surpass that of April 2025, when it finished 14.1% higher.
Several factors contribute to this bullish trend. A substantial increase in USDT (Tether) supply, totaling approximately $5 billion in mid-April, indicates fresh capital entering the crypto ecosystem. This growth, the fastest since early 2025, suggests that investors are moving funds into crypto assets. Additionally, U. S. spot Bitcoin exchange-traded funds (ETFs) have absorbed nearly 19,000 BTC over the past five days, signaling renewed institutional interest.
Analysts at Bitwise note that this institutional demand significantly impacts Bitcoin's supply dynamics. The consistency of ETF inflows points to strong conviction among institutional investors. The return of institutional capital coincides with U. S. stocks hitting all-time highs, further bolstering market confidence.
Despite this positive momentum, Bitcoin bulls face resistance around the $80,000 mark. Traders anticipate a potential battle to overcome this level and establish a stronger uptrend. Technical analysis suggests Bitcoin is bullish on the four-hour and daily charts, with rising moving averages indicating strong short-term and longer-term trends. However, the weekly chart appears bearish, suggesting potential volatility ahead.
