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See our full XRP forecast here.
Bitcoin Tracks Higher on US BTC-Spot ETF Inflows
XRP’s modest gains came as bitcoin (BTC) rallied, supported by the US BTC-spot ETF market recording the largest inflows since January 30. According to Farside Investors, key flow trends for April 21 included:
- ARK 21Shares Bitcoin ETF (ARKB) had net inflows of $116.1 million.
- Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows of $87.6 million.
- Bitwise Bitcoin ETF (BITB) reported net inflows of $45.1 million.
- Grayscale Bitcoin Trust (GBTC) and Grayscale Bitcoin Mini Trust (BTC) had combined net inflows of $69.1 million.
- Excluding pending flow data for BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), the US BTC-spot ETF market recorded $339.7 million in net inflows after $106.9 million in inflows on April 17.
BTC mirrored gold in a breakout session as investors fled US equities. US equity markets tumbled after President Trump intensified criticism of Fed Chair Powell, raising concerns about the Fed’s policy independence.
The Nasdaq Composite Index dropped 2.55% on April 21, while the Dow and S&P 500 lost 2.48% and 2.36%, respectively. Gold surged 2.92%, reaching a record high of $3,430 before settling at $3,329.
Bitcoin’s recent price trends are increasingly aligning with gold, potentially raising the chances of Congress passing the Bitcoin Act. Senator Cynthia Lummis reintroduced the Bitcoin Act, proposing the US government purchase one million BTC over five years, with a mandatory 20-year holding period.
BTC Price Outlook: Key Catalysts Ahead
On April 21, BTC rallied 2.65%, following Sunday’s 0.24% gain, closing at $87,497.
Near-term price action will hinge on regulatory clarity and macroeconomic trends:
- Bearish Scenario: Tariff escalations, Fed hawkishness, and ETF outflows could push BTC toward $75,000.
- Bullish Scenario: A dovish Fed, easing trade tensions, progress on crypto legislation, and fresh ETF inflows could lift BTC toward $90,000.
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