Bitcoin has bounced back from $75,000 to over $101,000 in less than a month, following a collapse triggered by Trump’s new trade tariffs. This rapid turnaround is supported by a calming of global economic tensions.
Traditional markets like the Nasdaq and the S&P 500 are mirroring Bitcoin’s momentum, also approaching new highs despite the initial shock of Trump’s announcements.
Massive inflows into Bitcoin Spot ETFs signal a real capital influx, according to Standard Chartered, whose price targets are increasingly impressive.
After a crash at $75,000, Bitcoin surpasses $100,000 again
Just three weeks ago, Bitcoin crashed to $75,000 in a panic induced by Donald Trump’s surprise announcement of new trade tariffs. Today, it once again exceeds $100,000. A swift comeback that is pushing analysts to urgently revise their bullish targets.
Ethereum shines on this green day with an impressive performance, even surpassing $2,000.
The Bitcoin Volatility
In early April, the crypto market plunged. Trump announced his ‘Liberation Day’ and imposed punitive tariffs on several trading partners. Markets panicked. Bitcoin lost over 30%, ETH and SOL collapsed by 60%.
But as often happens with BTC, the bullish turn is as sudden as it is unpredictable. In less than a month, the market has turned the tide, driven by a climate of macroeconomic calm and potential trade agreements between the United States and the United Kingdom or even China. Like Bitcoin, the Nasdaq and S&P 500 indices have also erased their losses and are reaching new highs.
Flows Redraw the Market
According to Geoff Kendrick, a strategist at Standard Chartered, the trend is now dictated by a single factor: flows. ‘The dominant narrative around Bitcoin has changed. Everything revolves around the flows. And they come in all forms,’ he summarizes.
The ETFs Bitcoin Spot are proof of this: recent inflows are not offset by arbitrage through futures, as was often the case. This means that the incoming money is ‘real’ capital, not speculative setups.
Goal $120,000… already exceeded?
Kendrick, who initially aimed for a BTC at $120,000 by the end of the quarter, concedes that his estimate may already be outdated. He anticipates a new catalyst: the upcoming publication of 13F reports in the United States, which will reveal the real exposure of major institutions to Bitcoin ETFs, but also to shares of companies like MicroStrategy (MSTR), heavily exposed to BTC.
