BTC Settles Into $77K — ETF Inflows Are the Real Story

Bitcoin’s late-April price action is boring on the surface. The ETF flow tape underneath looks notably more constructive.

BTC opened Wednesday at $76,300 and finished the week above $77,000 — sideways action on the chart. Cumulative US spot Bitcoin ETF net inflows over the same five trading sessions hit $1.6B, the strongest streak since the original launch window in early 2024.

IBIT carried most of the flow, FBTC and ARKB joined every day, and the smaller funds (BTCO, BITB, HODL) all printed positive marks. That kind of distributed buying is more typical of model-driven institutional allocators than retail-led pumps.

On-chain confirms. Long-term holder supply ticked up again this week. Exchange balances continued the year-to-date decline. MVRV Z-score sits at 1.8 — historically a basing range, not a top.