Bitcoin Surpasses $93,000 Amid Trade Sentiment Shift and ETF Inflows

Bitcoin has hit a seven-week high above $93,000, driven by a recent 5.62% increase. Analysts link this surge to positive macroeconomic developments, including President Trump’s softened stance on trade tariffs. As sentiment improves, Bitcoin ETFs saw significant inflows, reflecting growing investor confidence amid a favourable traditional market environment.

Bitcoin has surpassed $93,000, marking a seven-week high and extending its post-Easter rally. This price increase of 5.62% in the last 24 hours reflects a broader uptrend, yielding a total 12% price rise over the past week, according to CoinMarketCap.

In a rapid price movement, Bitcoin surged from around $91,500 to $93,000 within minutes, baffling traders on its potential trajectory. Notably, Bitcoin commentator Michael Sullivan described this as “the craziest one-minute candle” observed on the Bitcoin chart, highlighting the volatility of this digital asset.

Hours prior to this price hike, crypto commentator “Ted” indicated Bitcoin’s potential to rival gold, emphasising expectations for it to reach the $100,000 mark, a level not seen since February 3. This optimism corresponds with a positive shift in the crypto market sentiment, driven by increasing inflows into spot Bitcoin exchange-traded funds (ETFs).

Further supporting Bitcoin’s climb, US President Donald Trump’s recent comments provided an additional bullish signal. He expressed no intent to dismiss Federal Reserve Chair Jerome Powell, easing concerns surrounding monetary policy. Trump also announced significant tariff reductions on Chinese goods, reinforcing a generally positive economic outlook.

Economist Alex Kruger remarked that Trump had satisfied numerous de-escalation indicators, suggesting a bullish environment for crypto investments, to which other traders agreed. On the same day, the US spot Bitcoin ETFs recorded considerable net inflows of approximately $381.3 million, reflecting investor confidence.

The broader financial markets performed well on April 22, with major indices such as the S&P 500, Nasdaq, and Dow Jones all experiencing gains. This positive market movement hints at a continuous recovery, contributing to the optimistic outlook for Bitcoin and other cryptocurrencies. It’s essential to note that this article does not provide investment or trading advice; individuals should conduct their own research before making investment decisions.