Bitcoin remains above $95,000, with strong ETF inflows and improving altcoin momentum. Blackrock’s IBIT ETF achieved record inflows, while U.S. economic data hints at possible Fed rate cuts. Despite recent gains, Bitcoin is seen as undervalued by Fidelity Digital Assets, who suggest a growing trend towards long-term holdings.
Bitcoin has been flexing its muscles, firmly holding above the $95,000 mark. Analysts are buzzing about this being a sort of “bargain zone,” particularly as altcoins, too, seem to be showing some stronger momentum. Just earlier this week, Blackrock’s IBIT ETF saw an astonishing $970 million inflow in a single day, which brought its total to a staggering $1 billion.
On a broader scale, the cryptocurrency market appears to be staying strong, with a total capitalization now exceeding $3.1 trillion as of Tuesday. While other firms like Fidelity and Ark Invest faced redemptions leading to a decrease in their aggregate deposits, Blackrock is enjoying the opposite trend. The hefty inflow into the IBIT marks the second-largest daily inflow since its inception back in January, and it now commands a whopping 51% share of the US spot Bitcoin ETF market, managing over $54 billion.
Looking specifically at Bitcoin, its price nudged higher by around 1% but encountered resistance close to the $95,500 threshold. This subtle rise coincides with some optimistic economic data from the U.S., suggesting possible rate cuts from the Federal Reserve. The latest Job Openings and Labor Turnover Survey, or JOLTS, revealed a drop in job openings from 7.57 million in February to 7.19 million, indicating that the labour market might be cooling – a potential sign that lower rates could be on the table.
Fidelity Digital Assets has a rather intriguing take. They argue that, despite Bitcoin’s recent price surge, it still sits comfortably in what they call the “optimism” zone, leaning towards “undervaluation.” They use a measure called the “Bitcoin Yardstick,” assessing BTC’s market cap against its hashrate. Essentially, a lower ratio indicates that Bitcoin is quite a bargain in terms of security provided by its network. In the first quarter of 2025, this ratio fluctuated between -1 and +3 standard deviations—low enough to show that it’s cooling from the overheated conditions seen before.
On-chain data reinforces this idea, showing the illiquid supply of Bitcoin has gone up from 61.50% to 63.49%, while the liquid supply reduced by 4%. This signals that more holders are opting for long-term investments rather than short-term trading.
And then there’s altcoins. As Bitcoin finds its footing, alternative cryptocurrencies are starting to capture a fair bit of investor interest. After a consolidation week, major altcoins broke through significant resistance levels. Ethereum and Cardano logged 2% gains each, which outpaced Bitcoin’s 0.6% increase. This shift indicates that investors are feeling a tad bit riskier these days.
Among the top twenty cryptocurrencies, Bitcoin Cash (BCH) stood out with a notable 6% rally. Meanwhile, the ongoing saga around the privacy-focused coin Monero (XMR) appears to be driving some buzz towards similar privacy-focused alternatives. Also, the Real World Asset protocol Hyperliquid saw its value climb by 18.4%, suggesting there’s rising demand for tokenized financial instruments on the market.
Economist Alex Kruger offered a note of cautious optimism regarding the JOLTS data, labelling Bitcoin a sort of “risk/gold hybrid” that could truly benefit from a potential decrease in tariffs. Interestingly, Bitcoin ETFs have been on a buying spree for eight consecutive trading days, which could spur other investors into action, especially with Blackrock leading the charge.
As it stands, Bitcoin’s fundamentals seem quite bullish, setting the stage for what could be a push towards all-time highs in the foreseeable future.
