Bitcoin Is Up 13% In The Past Month

Bitcoin Closes April With a 13% Gain as Institutions Step In

$BTC has delivered one of its stronger monthly performances of the year, rising 13% through April and breaking past the $78,000 mark, according to CoinGecko data. The flagship cryptocurrency was also up roughly 2% over the past 24 hours as May opened, maintaining momentum heading into a new month.

The move higher has been underpinned by a notable return of institutional capital through regulated products. U.S. spot Bitcoin ETFs logged eight consecutive days of inflows totalling $2.1 billion through April 23, pushing cumulative net inflows since launch to $58 billion and total assets to $102 billion, according to CoinDesk. That buying streak coincided almost precisely with $BTC climbing from around $68,000 to $77,000 — a roughly 12% move in the same window.

April's ETF inflows of $2.43 billion were nearly double March's $1.32 billion, flipping year-to-date flows into positive territory at $1.85 billion after heavy outflows earlier in the year. BlackRock's iShares Bitcoin Trust (IBIT) drove much of that activity, with lifetime cumulative inflows across all products now sitting at $58.55 billion.

$80K in Sight — But Resistance Looms

The $80,000 level is now the key threshold to watch. Analysts note that Bitcoin is approaching key on-chain levels around $78,100 and $80,100 that have previously marked local tops, with the Short-Term Holder Cost Basis sitting at $80,100 — the average entry price for anyone who bought in the last 155 days. A clean break above it would push more than half of recent buyers into profit, potentially adding further buying pressure.

That said, the picture is not without caution. Bitcoin spot ETFs recorded $137.77 million in outflows on April 29 alone, with the full week seeing $490.62 million exit the products — a reversal that signals short-term institutional sentiment has shifted alongside the broader macro environment. The 200-day EMA at $82,228 and a descending trendline from the September 2025 peak create a triple resistance cluster with the psychological $80,000 level, making that zone a defining test for May.

On-chain data, however, paints a more constructive longer-term picture. A Coinbase and Glassnode survey of 91 global investors found that 75% of institutions consider Bitcoin undervalued at current prices, even as macro headwinds persist. Whether sustained ETF demand can absorb any distribution from short-term holders at the $80,000 level will likely determine how $BTC closes out May.

Sources:
CoinDesk – Bitcoin ETFs See $2 Billion Inflow in 8 Days While Short-Term Holders Sell
MSN / 24/7 Wall St. – Bitcoin ETFs Log Strongest 2026 Inflow Streak as Institutions Buy
Bitget News – Bitcoin Price Prediction May 2026: Can BTC Break the 200-Day EMA?

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