Bitcoin closed April near $77,750, up approximately 13% for the month and posting its strongest monthly gain since spring 2025, snapping the longest consecutive losing streak since 2018 after five months of declines from October through February.
The rally was driven by a convergence of three factors that arrived within the same two-week window and reinforced each other: a flood of institutional capital through regulated exchange-traded funds, a sharp expansion in stablecoin liquidity, and a geopolitical de-escalation that flipped market sentiment from extreme fear to cautious optimism.
US spot bitcoin ETFs recorded $2.44 billion in net inflows during April, the strongest monthly total of the year and nearly double the $1.32 billion logged in March.
BlackRock's iShares Bitcoin Trust absorbed the bulk of the capital, with an eight-day inflow streak in mid-April that took in roughly 19,000 BTC, approximately nine times the amount produced by miners over the same period.
Cumulative lifetime inflows across all US spot bitcoin ETF products reached $58.5 billion by month-end, with total assets under management crossing $102 billion.
The second catalyst was a $5 billion expansion in the supply of Tether's USDT stablecoin, which rose to nearly $150 billion, signalling fresh capital entering the cryptocurrency ecosystem after months of stagnation that had coincided with bitcoin's decline.
Previous major USDT supply surges, in late 2024 and early 2025, each preceded significant bitcoin rallies.
The third trigger was the US-Iran ceasefire announced on 8 April, which eliminated a major geopolitical overhang and sparked a $420 million liquidation of short positions in a single day as bitcoin jumped to $72,700.
Michael Saylor's Strategy added further buying pressure, acquiring more than 100,000 BTC in March and April worth over $7.7 billion at current prices, surpassing BlackRock's ETF in total holdings to become the world's largest single-entity bitcoin holder with more than 815,000 BTC.
Despite the strength of the April move, bitcoin remains well below its 200-day moving average at $87,519, and short-term holders have been treating each rally as an exit opportunity, with more than 65,000 BTC moving to exchanges in a single 24-hour period when the price tested $75,000 in mid-April.
The $79,000 level proved a persistent cap throughout the final week, with heavy institutional overhead supply sitting just above it.
Whether the rally extends or stalls may depend on the Federal Reserve's next move, with the April meeting widely expected to hold rates steady but potentially shifting the tone on future cuts.
Related reading
- Early bitcoin investor Michael Terpin says price must fall to $57,000 before sustained rally can begin
- Bitcoin steadies near $75,700 as $7.9bn options expiry looms
- Bitcoin tops $75,000 as geopolitical de-escalation and short squeeze drive broad crypto rally
If ETF inflows sustain through that event, $79,000 could convert from resistance to support, opening a path towards the $80,000 to $85,000 range.
If flows fade, bitcoin may settle back into a narrower band between $75,000 and $77,000.
The recap
- Bitcoin closed April higher, recording a 12% monthly gain.
- Bitcoin price listed at $77,751.00, trading up 1.90%.
- MSTR posted its first positive month since July
