Spot Bitcoin ETFs in the United States saw modest weekly inflows as Bitcoin rallied past $85k, driven by expectations of a softer Fed stance on rate cuts amid President Trumpโs push to replace the Federal Reserve chair.
Data from SoSoValue shows that 12 spot Bitcoin ETFs brought in $15.85 million in net inflows for the week, breaking a two-week outflow streak that saw $886 million leave the funds.
From April 14 to 17, Bitcoin ETFs had a mixed but mostly positive run: $1.47 million came in on Monday, a solid $76.42 million on Tuesday, followed by a big $169.87 million outflow on Wednesday. But sentiment flipped again on Thursday, with $107.83 million flowing back in.
Most of the inflows went to BlackRockโs IBIT, which pulled in $186.5 million, followed by Bitwiseโs BITB with $23.8 million, according to Farside data. Other ETFs like Grayscaleโs mini BTC Trust, Invescoโs BTCO, Franklinโs EZBC, and VanEckโs HODL also chipped in, adding a combined $26.3 million.
Still, it wasnโt all good news as Fidelityโs FBTC and ARKโs ARKB saw big outflows of $174.9 million and $99.8 million, eating into the weekโs gains. The rest of the ETFs were pretty flat.
Meanwhile, Ethereum ETFs are still struggling. They saw $32.17 million in outflows, marking the eighth straight week of losses and nearly $910 million gone so far.
What really stirred the markets last week was the back-and-forth between Trump and Powell. On April 16, Powell spoke in Chicago and said the Fed wasnโt rushing into any rate cuts. He warned that Trumpโs tariff measures on key trading nations, especially China, might push up inflation and hurt jobs. That sparked Wednesdayโs big outflow.
But things flipped on Thursday after Trump said Powellโs โtermination canโt come fast enough.โ Reports also came out that Trump might replace him with Kevin Warsh, a former Fed official known for being pro-crypto.
Bitcoin (BTC) has been recovering since the news and is up 3% early Monday to over $87,600, the highest itโs been since Trump announced his โLiberation Dayโ tariffs. The rally wiped out losses from earlier in April and has pushed Bitcoin up more than 16% since bottoming near $75K on April 9.
Itโs now just 20% away from its all-time high, and the investor mood seems to be turning bullish again.
Interestingly, Bitcoinโs rise is mirroring goldโs. Both assets are benefiting from the falling U.S. dollar and growing uncertainty. The U.S. Dollar Index has dropped 10% this year amid global trade tensions.ย
In an April 21 X post, analysts at Geiger Capital said that Bitcoin looks like itโs starting to โdecoupleโ from traditional markets. In a chart they shared, BTC has broken out of a large falling wedge pattern thatโs been forming since the start of this year,ย a signal that often hints at more sustained gains ahead.
