- Bitcoin’s price soared 10.7% in 10 days as capital inflows surged from $1.5B to $15B, signaling a powerful market expansion shift.
- Stablecoin and BTC+ETH net inflows surged post-April 23 breakout, showing fresh liquidity and renewed investor conviction in crypto.
- BTC dominance nears 71% resistance as altcoins await potential capital rotation, hinting at the start of a new Altseason trend.
As per analyst Ali, the capital inflow to cryptocurrency jumped from $1.5 billion to $15 billion over a mere 10-day period. The meteoric move, monitored from April 12 through April 29, shows an impressive shift from accumulation to growth. Bitcoin’s price escalated from $85,000 to $94,398.77, increasing 10.7% over that time. The price spike and inflow aligned with a general upsurge in market activity and investor sentiment.
Source: Ali
Moreover, data from Glassnode reveals that 30-day capital inflows began accelerating on April 20. By April 29, they peaked at $15.15 billion. No outflows were recorded during this period. Hence, the momentum remained firmly in favor of the bulls. The BTC+ETH Net Position Change metric rebounded sharply. It climbed from -$971 million to $9.41 billion, signaling renewed interest in major digital assets.
Bitcoin Price Surge Fuels Fresh Market Liquidity
Between April 21 and 23, Bitcoin saw a major breakout. The price spiked from around $85,000 to $93,000. This move mirrored the rising inflows and increased investor optimism. Additionally, stablecoin net reserves also expanded. The Stablecoin Net Position Change rose from $2.42 billion to $5.73 billion during the same period. Consequently, liquidity available for market deployment rose sharply.
By April 29, both BTC+ETH and stablecoin flows had turned decisively positive. This indicates accumulation resumed after the April 23 breakout. Furthermore, the synchronized rise in prices and capital flows underscores a strong sentiment shift. The market appears to have entered a new expansion phase with unprecedented capital support.
BTC Dominance Approaches Key Resistance
Bitcoin dominance currently sits at 64.81%, nearing its long-term resistance at 71.04%. If history repeats, this could signal the start of Altseason. Since mid-2023, BTC dominance has trended upward, reclaiming lost market share. Moreover, this multi-year high marks the strongest dominance since early 2021.
Source: Rekt Capital
Rekt Capital shows that BTC dominance typically rises during early bull cycles. It then declines as altcoins gain momentum. Consequently, if Bitcoin fails to break the 71% level again, altcoins could see renewed inflows.
