Bitcoin has climbed towards $80,000 as steady ETF inflows and renewed institutional demand have driven one of its strongest monthly performances in over a year.
According to data from SoSoValue, US-listed spot Bitcoin ETFs have extended their inflow streak to eight straight sessions, pulling in $223.21 million on Thursday alone and pushing the cumulative total to around $2.4 billion since April.
The latest run has already overtaken the previous seven-day streak in March, which brought in roughly $1.2 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) has accounted for more than 73% of the latest inflows, drawing about $1.4 billion during the streak.
The fund now holds 809,870 BTC, representing 62% of total assets under management across US spot Bitcoin ETFs.
Meanwhile, the Morgan Stanley Bitcoin Trust (MSBT), launched on April 8, has contributed $95 million during the current inflow stretch and has yet to record a single day of outflows, with total inflows reaching $163 million since launch.
Price action has followed closely.
Bitcoin has risen about 11% over the past 30 days and briefly moved above $79,000, its highest level since late January, while remaining nearly $20,000 above its early February lows.
CoinGlass data shows BTC/USD is on track for a 14.3% monthly gain, positioning April as its strongest month since November 2024 if current levels hold.
Institutional demand builds a price floor amid macro tension
Looking at the recent trend, ETF accumulation has acted as a stabilising force during a period marked by geopolitical stress and shifting macro expectations.
By absorbing roughly 19,000 BTC in the last five days alone, institutions are moving supply into structured portfolios, creating a ‘disciplined floor’ that limits downside during risk-off periods.
This resilience was recently tested as geopolitical tensions in the Middle East and disruptions in the Strait of Hormuz pushed oil toward $107.
While capital initially fled to Gold—which peaked near $4,800/oz—the progress in ceasefire discussions has sparked a rotation back into digital assets, allowing Bitcoin to decouple from its wartime correlation with equities.
Momentum faces resistance near key levels
Despite the rebound, crypto analysts continue to flag critical resistance zones.
Bitcoin is now pressing against the upper end of its multi-month range, with $80,000 emerging as a decisive level for the next move.
“$BTC has been in an uptrend during April. But it is coming up to some important high timeframe levels. Especially above the $80,000 area is where the bulls would need to push through to turn this around on the high timeframe,” said Daan Crypto Trades.
“On the downside, the immediate supports are that ~$72,000 region and $65,000 below that,” he added.
However, the path to a new all-time high remains narrow. Persistent energy-driven inflation continues to threaten the timeline for Federal Reserve rate cuts in late 2026.
For bulls to maintain control, Bitcoin must convincingly break and hold the $80,000 threshold; otherwise, a rejection at this multi-month resistance could see the price drift back toward immediate support in the $72,000 region.