Bitcoin has spent the majority of the past 24 hours on a notable rally that saw it price peak at an intraday high of $94,320. This rally marks an interesting change from the tight consolidation range between $80,000 and $85,000 that had defined Bitcoin’s trajectory through much of April. Behind this breakout lies a significant uptick in institutional activity through Spot Bitcoin ETFs, which recorded their highest daily inflows since January. Interestingly, this inflow surge has helped push Bitcoin into the top five largest assets globally, surpassing Alphabet, Silver, and Amazon in market capitalization. Spot Bitcoin ETFs Sees Largest Inflows Since January According to data from SoSoValue, US-based Spot Bitcoin ETFs raked in $936.43 million in net inflows on Tuesday, April 22 alone, marking their best single-day performance since January 17 when it registered $1.08 billion. Wednesday, April 23 also witnessed similar performance, registering inflows of $916.91 million. Related Reading: Bitcoin Price Crash: Crypto Analyst Reveals What Would Reject Current Bearish Hypothesis BlackRock’s iShares Bitcoin Trust (IBIT) led the way with a staggering $643.16 million in inflows, followed closely by Ark & 21 Shares’ ARKB with $1 ..
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