What happened
Bitcoin traded around $79,500 as of Tuesday morning in Europe after briefly clearing $80,000 during Asian hours, NewsBTC reported, citing market commentary from QCP Capital. The move caps a recovery off the late-April lows near $75,000, with ether, XRP, and solana each posting gains over the same window. QCP framed the rebound as a function of two specific catalysts: spot ETF inflows that picked up sharply into month-end, and a partial easing of geopolitical risk tied to the Strait of Hormuz.
Per QCP's note, US-listed spot bitcoin products absorbed roughly $163 million in net inflows last week, with outflows on April 27 to April 29 - a pattern QCP tied to month-end rebalancing and basis-trade adjustments - more than offset by a single-session inflow of approximately $630 million on Friday.
Why it matters
The $80,000 line is not arbitrary. Analysts at Marex described it as the psychological barrier that decides the near-term tape: a clean break and sustained hold flips the market into a momentum trade, while a rejection invites profit-taking back into the mid-$70,000s. April's flow data underwrites the bid.
Investing. com's tracking puts April at $2. 44 billion in net inflows for the eleven US-listed products, nearly double March's figure and enough to push cumulative inflows since the January 2024 launch past $58.
5 billion. BlackRock's iShares Bitcoin Trust (IBIT) led the monthly tally. The recovery is real but incomplete.