Bitcoin ETF inflows surge to their highest level since February

Bitcoin hovered near $68,780 on Tuesday as U.S. spot Bitcoin ETFs recorded their strongest daily inflows in over a month.

Data from SoSoValue shows that funds attracted a combined $471 million on April 6, marking the largest single-day inflow since Feb. 25 and the sixth-largest daily total so far this year. While notable, the figure still falls short of January’s peak period, when multiple sessions exceeded $700 million in inflows.

The surge in ETF demand comes as Bitcoin continues to struggle below the $70,000 level. Weak spot market demand, coupled with ongoing distribution from large holders, has limited upside momentum. ETF inflows, however, have increasingly helped counterbalance this pressure, emerging as a key source of incremental buying.

On the macro front, signals remain muted. According to Polymarket data, markets are assigning a 98% probability that the Federal Reserve will keep interest rates unchanged at its April meeting, with little expectation for near-term policy shifts in either direction.

At the same time, Bitcoin’s relationship with global monetary policy appears to be evolving, driven in part by the growing influence of ETFs on both the scale and timing of demand.

A recent Binance Research report highlights a notable shift in Bitcoin’s correlation with its Global Easing Breadth Index, which tracks policy trends across 41 central banks. Since 2024—the year U.S. spot Bitcoin ETFs were approved—this correlation has turned sharply negative. Previously, Bitcoin tended to follow global easing cycles with a lag. That dynamic has now reversed, with the inverse relationship becoming nearly three times stronger.

This change underscores a shift in who drives marginal pricing. Historically, retail investors reacted to macroeconomic developments after they unfolded. In contrast, ETF-driven institutional flows are more forward-looking, positioning ahead of anticipated policy moves.

“BTC may have evolved from a macro ‘lagging receiver’ to a ‘leading pricer,’” Binance Research noted.

With ETF inflows continuing to absorb supply and provide price support, Bitcoin may increasingly trade as a forward-looking asset—pricing in central bank pivots ahead of traditional markets rather than reacting after the fact.