**Key takeaways** :

* US Treasury funds saw $19 billion inflows, the highest since March 2023, as the 30-year yield fell 30 basis points.

* Foreign central banks cut US Treasury holdings to 23%, a 22-year low, as gold reserves hit 18%.

* Bitcoin soared in 2020 from $9,000 to $60,000 amid similar trends, hinting at a similar outcome in 2025.

The global financial tides are shifting significantly, and Bitcoin (BTC) price could greatly benefit from it. Recent data indicates that US Treasury funds saw $19 billion in net inflows last week, exceeding the 2020 pandemic peak of $14 billion, with the 4-week moving average rising to $7 billion–the highest since March 2023.

_US Treasurys inflow chart. Source: X.com_

The 30-year US Treasury yield fell by 30 basis points from its April peak, indicating a rise in bond prices as investors are willing to accept lower returns in exchange for the safety of these bonds. This surge in demand for Treasurys as a safe-haven asset boosts market liquidity and stability while lowering US borrowing costs.

However, foreign central banks have pivoted, cutting Treasury holdings to 23% of US government debt, a 22-year low. This suggests that while private investors were possibly driving inflows, foreign central banks are stepping back, possibly due to the ongoing tariff dispute with the US.

_Foreign central banks ‘ gold and treasury holdings. Source: X.com_

At the same time, gold’s share of global reserves has surged to 18%, a 26-year high, up 8% since 2015, with China doubling its gold reserves to 7.1% since 2023.

This global de-dollarization trend mirrors a pattern that favors Bitcoin. During the 2020 pandemic, when US Treasury inflows spiked amid COVID-19 uncertainty, Bitcoin soared from $9,000 to nearly $60,000 by early 2021, with gold’s share of global reserves rising by 14.5% in 18 months.

The current environment, marked by a stabilizing bond market and a central bank’s gold rush, implies a similar trigger for Bitcoin’s next bullish move. In 2023, when US Treasury yields rose amid recession fears, Bitcoin gained 47% in a month while the Nasdaq dropped 8.7%. With yields easing and central banks signaling a lack of faith in the US dollar, Bitcoin’s appeal as a global store of value improves.

However, Bitcoin’s bullish narrative could falter if global markets enter a recession in 2025. This is due to investors’ decision to prioritize liquidity and traditional safe-haven assets like cash or US Treasurys during economic downturns, as noted last week, over speculative assets like Bitcoin.

_**Related: Bitcoin upside could stop at $100K despite $3B in ETF inflows**_

## Google searches for “Bitcoin” at long-term lows, says Bitwise CEO

Anonymous global markets researcher Capital Flows noted that macroeconomic liquidity and positioning factors drive Bitcoin’s bullish price trajectory. The analyst highlighted BTC’s impulse strength in a directional probability skew chart, suggesting that it is poised for an upward movement.

_Total macroeconomic positioning in Bitcoin. Source: X.com_

This aligned with Bitwise CEO Hunter Horsley’s observation that Google searches for “Bitcoin” are near long-term lows, suggesting the rally is fueled by institutions, advisers, corporations, and nations rather than retail investors.

The lack of retail-driven search interest contrasts with historical trends where Bitcoin search volume strongly correlated with its price in the previous cycle (r=91%, per SEMrush data), indicating a shift in market dynamics where institutional adoption is fueling demand.

_**Related: Bitcoin ‘power law’ model forecasts $200K BTC price in 2025**_

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.