SecondSwap announced on Tuesday its expansion to the Avalanche blockchain ecosystem following a successful launch on Ethereum earlier this year. The integration is designed to offer a transparent and accessible secondary market for tokens subject to vesting schedules or early…

Exclusive: SecondSwap expands to Avalanche to boost locked token trading

BlackRock&#8217;s exchange-traded fund (ETF) bought nearly $1 billion worth of 
Bitcoin on behalf of its clients on April 28, with continued inflows providing 
&#8220;structural support&#8221; for Bitcoin&#8217;s price appreciation, according to market 
analysts.
BlackRock&#8217;s iShares Bitcoin Trust (IBIT) ETF bought $970 million worth of 
Bitcoin (BTC) on April 28, its second-largest day of inflows on record after 
scooping up $1.12 billion of BTC on Nov. 7, 2024, Sosovalue data shows. 
_IBIT ETF Inflows, all-time chart. Source:__Sosovalue_ _ _
IBIT&#8217;s near $1 billion investment brought total net inflows to US spot BTC 
ETFs to just above $590 million, with all other ETFs realizing net negative 
outflows or remaining flat. ARK Invest&#8217;s ARKB ETF recorded the highest 
outflows of $226 million.
_**Related:**__**Bitcoin treasury firms driving $200T hyperbitcoinization &#8212; 
Adam Back**_
&#8220;Nearly *$1bil* into iShares Bitcoin ETF today.. 2nd largest inflow since Jan 
2024 inception. I still remember when there was &#8220;no demand,&#8221; Nate Geraci, the 
president of ETF Store advisory firm, wrote in an April 29 X post.
BlackRock&#8217;s IBIT is the largest spot BTC ETF, with over $54 billion in assets 
under management, accounting for 51% of the total spot BTC ETF market share, 
Dune data shows.
_Bitcoin ETFs by market share. Source:__Dune_ 
The latest inflows make IBIT the world&#8217;s 33rd-largest ETF among crypto and 
traditional finance-based ETFs, according to data from ETF Database.
Last week&#8217;s &#8220;ETF inflows and croproate buying&#8221; have been significant for 
Bitcoin&#8217;s recovery above $94,000, as retail investor interest continued to 
lag, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph.
_**Related:**__**Bitcoin &#8216;s role as a reserve asset gains traction in US as 
states adopt**_
## ETFs provide &#8220;structural&#8221; support for Bitcoin rally
Bitcoin&#8217;s recovery over the past week was aided by over $3 billion worth of 
cumulative net inflows for the US spot Bitcoin ETFs, marking their second- 
highest week of investments since launch.
The Bitcoin price posted its &#8220;strongest weekly gain since Trump&#8217;s election 
victory, but signs suggest another move could be brewing,&#8221; according to Nexo 
dispatch analyst Iliya Kalchev.
&#8220;ETF inflows into spot Bitcoin products topped $3 billion last week &#8212; the 
highest since November &#8212; providing structural support that could fuel further 
upside,&#8221; the analyst told Cointelegraph.
Bitcoin investments have previously been a significant driver of Bitcoin&#8217;s 
upside momentum. Bitcoin ETFs accounted for an estimated 75% of new investment 
into Bitcoin when it recaptured the $50,000 mark in February 2024, a month 
after the debut of the US spot Bitcoin ETFs.
_**Magazine:**__**Altcoin season to hit in Q2? Mantra &#8216;s plan to win trust: 
Hodler&#8217;s Digest, April 13 &#8211; 19**_

BlackRock Bitcoin ETF buys $970M in BTC as inflows surge, boost market

**Key takeaways:**
 * Bitcoin supply in profit has climbed back above 85%, nearing the classic euphoric area.
 * Onchain data shows strong accumulation from new and momentum buyers with minimal profit-taking.
 * Bitcoin could rally toward $110,000-$115,000 helped by a &#8220;max buying&#8221; zone.
Bitcoin (BTC) is charging toward a potential new all-time high near $115,000, 
as a surge in profitable supply signals growing bullish momentum and a classic 
setup for market euphoria.
## Nearly 87% of Bitcoin supply in profit
As of April 28, approximately 86.9% of all Bitcoin coins were in profit, 
according to on-chain data resource CryptoQuant.
Historically, the metric&#8217;s climb into the 85-90% range has signaled a 
transition from healthy optimism to speculative euphoria among traders.
Between October and December 2024, for instance, Bitcoin&#8217;s price climbed from 
around $80,000 to over $100,000, a rally coinciding with Bitcoin&#8217;s profitable 
supply rising from under 80% to as high as 99%.
_Bitcoin percent supply in profit. Source: CryptoQuant_
In his April 28 post, CryptoQuant-based analyst DarkFrost reminded that 
Bitcoin&#8217;s euphoric phases may not last for longer timeframes, leading to sharp 
corrections as holders begin realizing gains.
BTC&#8217;s price established a record high of nearly $110,000 in January, with its 
profitable supply hitting 99%. But the cryptocurrency dropped by over 30% 
afterward. Similar profit-taking behaviors have led to price corrections in 
the past, as shown above.
&#8220;Currently, the supply in profit has climbed back above 85%, which is fairly 
positive,&#8221; DarkFrost writes, noting that its recovery from the recent bottom 
of 75% is still better when compared to 45-50% lows witnessed during bear 
market corrections.
Besides, the BTC supply in profit still remains below 90%. Crossing above 90% 
has historically preceded profit-taking behavior among traders, suggesting 
that there&#8217;s more room to grow for BTC prices in the coming days.
DarkFrost argues:
&gt; &#8220;Of course, there are certain levels that are more &#8220;comfortable&#8221; than 
&gt; others, but generally, an increase in the supply in profit tends to fuel 
&gt; bullish phases.&#8221;
Additional onchain data also supports the bullish outlook. Bitcoin&#8217;s First 
Buyers and Momentum Buyers are actively accumulating, while Profit Takers 
remain relatively quiet, according to Glassnode metric tracking BTC&#8217;s 
cumulative supply per cohort.
_BTC relative strength index of cumulative supply per cohort. Source: 
Glassnode_
This means fresh demand is coming in without heavy selling, a key ingredient 
for keeping the rally strong as anticipated by DarkFrost in the analysis 
above.
## Bitcoin &#8220;max buying&#8221; zone hints at $115,000
In late April, Bitcoin bounced strongly from the $89,000-$90,000 support zone, 
a key horizontal level from prior price action strengthening the case for more 
upside.
The area, according to chartist CryptoCaesarTA, now acts as a &#8220;max buying&#8221; 
zone where buyers have aggressively stepped in to limit Bitcoin&#8217;s drawdowns.
_BTC/USD weekly price chart. Source: TradingView/CryptoCaesarTA_
Below it, the $70,000-$72,000 region remains untested, aligning closely with 
the long-term ascending trendline. If Bitcoin faces deeper pullbacks, this 
zone could serve as a critical secondary support.
For now, Bitcoin&#8217;s resilience above $90,000 keeps the bulls firmly in control.
_**Related:**__**5 Bitcoin charts predicting BTC price rally toward $100K by 
May**_
A breakout above the $100,000 psychological barrier could pave the way toward 
new all-time highs at $110,000-$115,000, according to CryptoCaesarTA. The 
upside target aligns with previous resistance highs and a so-called &#8220;weak 
high&#8221; zone on the weekly chart above.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.

Bitcoin targets $115K as BTC supply metric nears 'historic euphoria' zone

A new study finds that 42% of U.S. millennials have made purchases using 
cryptocurrency, with 8% using it whenever possible and 14% on occasion. 93% of 
Millennials Aware of Crypto With U.S. millennials increasingly aware of or 
owning cryptocurrencies, a new study found 42% have purchased &#8220;something&#8221; 
using crypto. In fact, the Millennial Shopping Habits: […]

42% of American Millennials Shop With Crypto, Study Finds

Hyperliquid will adopt a new system to calculate fees on the platform, which 
includes different tiers for staking as well as separate fee schedules for 
perpetual contracts and spot trading. In a recent post, the decentralized 
exchange announced that it…

Hyperliquid unveils new fee discount system and account linking feature for May 5

Bitcoin miners with the right infrastructure and management talent can gain 
substantial value by pivoting into the booming AI and HPC data center market, 
analysts say. As demand for AI infrastructure grows, crypto miners with access 
to power and cooling…