Bitcoin reaches over $95,000 as Bitcoin ETFs attract $3 billion; seen as positive news.

From Yahoo Finance: 2025-04-28 13:09:00

Last week, Bitcoin ETFs saw the largest inflows since December as the original cryptocurrency surged on news of progress in President Trump’s tariff negotiations. Cumulatively, over $3 billion was invested. Ethereum rose 11%, XRP 9%, and Solana 8% in the past week.

Trump’s tariff announcement caused a market crash on April 2, wiping out $2.5 trillion from the S&P 500 in a day. Investors fled to safer assets. However, the market stabilized after Trump paused most tariffs for 90 days, leading to a rebound in both traditional markets and cryptocurrencies.

Bitcoin outpaced traditional market gains, rising 14% since the tariff pause. This divergence indicates investors see Bitcoin as a safe-haven asset during economic uncertainty, as it is detached from centralized entities like governments or central banks. Equities, on the other hand, are burdened by tariffs and declining corporate earnings.

James Butterfill from CoinShares noted that Bitcoin’s resilience during economic uncertainty is attracting investors seeking alternative safe-haven assets. Bitcoin’s recent climb above $95,000 reflects this growing interest in the cryptocurrency as a refuge from market volatility.

Read more: Bitcoin climbs above $95,000 as Bitcoin ETFs rake in $3 billion last week