Bitcoin (BTC) has strengthened again, breaking the $95 thousand level after Bitcoin ETFs recorded the largest inflow since December.
According to data from SoSoValue, 12 Bitcoin ETFs traded on exchanges attracted more than $3 billion last week.
This surge reflects increasing investor confidence and mainstream adoption of Bitcoin, along with news that negotiations on tariffs by President Donald Trump are nearing resolution.
Bitcoin ETFs, which track Bitcoin prices, are often seen as a barometer of market sentiment towards cryptocurrency.
Large inflows of funds indicate optimism about Bitcoin's future amid geopolitical uncertainty.
Bitcoin's strengthening is also accompanied by a reversal of the previous downtrend, where the price of BTC briefly touched $75 thousand on April 7.
In the last seven days, Bitcoin surged by 8% and reached $95,500, the highest level since February.
The crypto market as a whole is also showing recovery: Ethereum rose 11%, XRP rose 9%, and Solana rose 8%.
Previously, Trump's announcement of new tariff policies at the beginning of the month triggered market chaos and led to massive sell-offs in the stock and crypto markets.
However, the market began to stabilize after Trump announced a suspension of most tariffs for 90 days, except for China.
Since the announcement of the tariff pause, Bitcoin has strengthened by about 14%, reinforcing its status as a safe haven asset amid uncertainty.
This Week's Macroeconomic Data Agenda
This week, the market is also looking forward to several important macroeconomic data releases:
April 29: The Job Openings and Labor Turnover Survey (JOLTS) report will be released, which could provide insights into the impact of the trade war on the U.S. labor market.
April 30: The Core PCE (Personal Consumption Expenditures) projection will be published, providing indications of significant changes in U.S. inflation rates.
May 1: ISM Manufacturing PMI data will be released. This report could reveal business fears due to the tariff war, which could negatively impact the market if it shows further deterioration.
May 2: The employment report will be published. Given the market volatility due to recent tariffs, there is a potential for the data to show a 'significant pause' in economic growth.
Since Trump took office, U.S. inflation has continued to decline. According to TradingEconomics data, inflation eased from a peak of 9.1% in 2022 to 2.4% in March 2025.
Trump claims victory in controlling inflation, yet continues to push for tariff implementation, a move that economists say could reignite price pressures.
In response, Trump has increasingly called for interest rate cuts in recent months.
Nevertheless, CME FedWatch data shows a 90.1% probability that the Federal Reserve will maintain interest rates at the next FOMC meeting on May 7.
On-Chain Data Supports Bitcoin Strength Signals Breaking High Levels
On-chain data increasingly strengthens the implication of a potential significant price surge for the number one crypto asset, Bitcoin.
According to CryptoQuant data, investors have withdrawn more than $4 billion in Bitcoin from trading platforms since Trump's latest call for interest rate cuts.
As a result, total Bitcoin reserves on exchanges decreased from $237.8 billion on April 22 to $233.8 billion currently.
This phenomenon shows that many investors are choosing to secure their Bitcoin in personal wallets, reducing selling pressure in the market.
With the supply of Bitcoin continuing to shrink on exchanges and demand remaining high, the prospect of Bitcoin reaching the psychological level of $100,000 is still open.
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