Bitcoin’s price steadied near $79,000 after digital-asset investment products recorded $933 million in weekly inflows, reflecting persistent institutional demand as geopolitical tensions mount. The global crypto market cap rose 1.85% to $2.64 trillion as of April 27.
"Bitcoin is holding strong above the $79,000 mark as risk appetite improves across markets," Akshat Siddhant, Lead Quant Analyst at Mudrex, said. "A dovish commentary [from the Fed] could help break the psychological barrier at the $80,000 mark.”
The inflows mark a return to a positive trend, bringing the total for the month to $1.2 billion, according to a recent report. Bitcoin exchange-traded funds (ETFs) have now seen nine consecutive days of inflows, adding over $2.1 billion. This institutional demand was highlighted by Michael Saylor’s firm, Strategy, which acquired another 34,164 BTC for approximately $2.54 billion last week.
The sustained buying pressure creates a strong support floor, yet faces headwinds from broader macro uncertainty. Key upside resistance is clustered between $78,800 and $79,500, while the $75,000 to $76,500 range remains a critical support zone. The market's direction may hinge on the Federal Reserve's upcoming remarks.
Rising geopolitical risk, particularly stalled US-Iran talks and the resulting surge in oil prices to over $107 a barrel, is pushing some investors toward assets outside traditional financial systems. "Elevated interest rates, geopolitical tensions, and the upcoming Federal Reserve decision are limiting aggressive risk appetite, keeping the rally controlled," explained Riya Sehgal, Research Analyst at Delta Exchange.
Ethereum also showed strength, outperforming Bitcoin with a 2.84% rise to $2,384. Ethereum-based ETFs attracted $155 million in net inflows last week, with BlackRock's ETHA fund leading the pack. This highlights a broader, albeit cautious, shift into digital assets.
While institutional accumulation provides a bullish long-term signal, analysts advise a measured approach. "In the near term, investors should stay measured in their approach, using phases of consolidation to build exposure gradually rather than chasing sharp moves,” said Avinash Shekhar, Co-founder and CEO of Pi42.
This article is for informational purposes only and does not constitute investment advice.
