Bitcoin ETFs Bounce Back with $15.85M Inflows as BTC Soars Past $85K Amid Trump-Powell Showdown

Weekly Inflows Snap Two-Week Outflow Streak

Hold onto your hats, crypto fans! Spot Bitcoin ETFs in the US just pulled in a cool $15.85 million in net inflows last week, snapping a two-week outflow streak that saw a whopping $886 million flee the funds. And guess what? All this excitement came as Bitcoin itself rocketed past $85k, fueled by the wild ride of President Trump's feud with the Fed.

Day-by-Day Drama: From Inflows to Outflows and Back Again

Strap in for a rollercoaster of a week! From April 14 to 17, Bitcoin ETFs had us on the edge of our seats. Monday kicked things off with $1.47 million coming in, followed by a massive $76.42 million on Tuesday. But then, bam! Wednesday hit us with a huge $169.87 million outflow that had everyone sweating. Yet, like a true comeback story, Thursday flipped the script again, with $107.83 million flowing back in. Talk about a wild ride!

BlackRock and Bitwise Lead the Charge

Who were the heroes of the week? BlackRock's IBIT led the pack, hauling in an impressive $186.5 million. Not far behind, Bitwise's BITB added $23.8 million to the tally. Other players like Grayscale's mini BTC Trust, Invesco's BTCO, Franklin's EZBC, and VanEck's HODL also joined the party, chipping in a combined $26.3 million. But it wasn't all sunshine and rainbows—Fidelity's FBTC and ARK's ARKB saw hefty outflows of $174.9 million and $99.8 million, respectively, putting a dent in the week's gains. The rest? Pretty much flat.

Ethereum ETFs Continue to Struggle

Meanwhile, Ethereum ETFs are still feeling the heat. They bled out another $32.17 million last week, marking their eighth straight week of losses and nearly $910 million gone overall. Ouch!

Trump vs. Powell: The Battle That Shook the Markets

What really got the markets buzzing last week was the epic showdown between Trump and Powell. On April 16, Powell took the stage in Chicago and dropped a bombshell: the Fed wasn't rushing into any rate cuts. He warned that Trump's tariff moves on key trading nations, especially China, could spike inflation and hurt jobs. No wonder Wednesday's outflow was so massive!

But hold up—Thursday brought a plot twist. Trump fired back, saying Powell's "termination can't come fast enough." Rumors started swirling that Trump might replace him with Kevin Warsh, a former Fed official known for his pro-crypto stance. Talk about a game-changer!

Bitcoin's Bullish Comeback

Since the news broke, Bitcoin (BTC) has been on a tear. It's up 3% early Monday, soaring past $87,600—the highest it's been since Trump announced his "Liberation Day" tariffs. This rally has wiped out earlier April losses and pushed Bitcoin up more than 16% since bottoming near $75K on April 9. It's now just 20% away from its all-time high, and the investor mood? Turning bullish again, baby!

Bitcoin and Gold: Riding the Same Wave

Get this—Bitcoin's rise is mirroring gold's. Both assets are riding high on the falling U.S. dollar and growing global uncertainty. The U.S. Dollar Index has dropped 10% this year amid trade tensions, and Bitcoin and gold are loving it.

Decoupling from Traditional Markets?

In a spicy April 21 X post, analysts at Geiger Capital dropped a bombshell: Bitcoin looks like it's starting to "decouple" from traditional markets. They shared a chart showing BTC breaking out of a huge falling wedge pattern that's been forming since the start of the year. And you know what that means? It's a signal that often hints at more sustained gains ahead. Buckle up, folks—Bitcoin might just be ready to take off!