Bitcoin climbed to $63,200—the highest level since April 2022—on $1.2 billion in net inflows into U.S. spot Bitcoin ETFs in April, according to Farside Investors. BlackRock’s IBIT accounted for $720 million of that total. Grayscale’s GBTC posted outflows of $210 million, down sharply from prior months.
Derivatives trading volume on major exchanges jumped 34% above its 30-day average. Institutional participation is broadening, but volatility remains high ahead of the May 12 Bitcoin halving—and the anticipated supply squeeze that follows.
