Bitcoin and Ethereum ETFs Experience Notable Rebound Amid Market Fluctuations

Bitcoin and Ethereum ETFs have seen a rebound after significant outflows, with Bitcoin leading the stronger performance. On April 21, Bitcoin net inflows reached almost $390 million, followed by a record $900 million the next day, pushing the price above $90,000. In contrast, Ethereum’s recovery remains sluggish, with mixed inflow results and a broader downward trend since January.

In a surprising turnaround, the performance of Bitcoin and Ethereum has significantly improved over the past couple of weeks. Not too long ago, the market was struggling, marked by considerable outflows from the spot Bitcoin and Ethereum ETFs. Then, on April 11, 2023, BTC remained below $80,000 until the trend suddenly shifted.

The week began on April 14 with only minor movements, but things took a turn on the following day, when spot Bitcoin ETFs saw over $76 million in daily inflows. Sure, there were still outflows amounting to nearly $170 million on the 16th, but since then, net inflows have continued uninterrupted. On April 14, Bitcoin couldn’t hold above $85,000, dropping under $84,000 by the 16th, but rebounded to $85,000 by the 17th and has maintained that figure over the weekend.

A major inflection point arose on April 21. That day, there were substantial net inflows totaling nearly $390 million, coinciding with Bitcoin’s price hitting above $86,000. On the 22nd, something remarkable happened; the daily record for April was smashed with more than $900 million in net inflows into Bitcoin ETFs. While it’s not an absolute record, it certainly dwarfed the beginning of the month’s figures. Bitcoin then soared past $90,000 and attempted to reach $96,000, though it hasn’t quite made it there yet. Since April 21, net inflows have remained impressively strong, never dipping below $380 million.

Meanwhile, Ethereum’s scenario isn’t as straightforward. The crypto has been trailing Bitcoin considerably, with prices struggling for months now. Ethereum experienced its negative trend in net outflows that continued until April 17, lagging behind Bitcoin’s recovery. Worriedly, on April 21 and 25, Ethereum ETFs suffered net outflows, even as Bitcoin enjoyed strong inflows. Overall, Ethereum has seen only three consecutive days of net inflows during the past week, while Bitcoin had a solid streak reaching seven days.

The monthly record for spot Ethereum ETFs was recorded on April 25, with a respectable $104 million inflow; it’s noteworthy, although not as robust as Bitcoin’s recent performance. The disparity in the price trends for these two cryptos is striking. The ETH/BTC trading pair reflects this well, with ETH hitting 0.040 BTC in early December 2024 before tumbling below 0.035 BTC by month’s end.

A prolonged downward trend has persisted since January, dropping below 0.020 BTC and even touching levels not seen since December 2019, which is quite unusual for a post-election year. During March 2021, before the first major altseason, ETH was still above 0.030 BTC. The minimal peak of the ongoing slump hit on April 22 when ETH dipped briefly below 0.018 BTC. Recently, ETH has remained around 0.019 BTC since early April, hinting at a potential end to this lengthy downward trend, though this bullish notion is still rooted in the brevity of its recent inflow streak.