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2026-04-24 09:31:44

Bitcoin Price Stalls Below $78K Despite ETF Surge, Metaplanet Buying

Bitcoin ETFs saw inflows for 8 straight days, indicating strong institutional demand in recent days. According to Bitwise, there has been massive accumulation, with ETFs buying 9x more BTC than mined supply. Even with these positive developments, BTC remains range-bound below $78,000 with sellers capping upside. Bitcoin spot exchange traded funds (ETF) are on fire as the products managed to pull in a great amount of money yesterday, April 23, 2026. According to SoSoValue , Bitcoin ETFs saw an inflow of $223.21 million and this marks the eight day of consecutive inflow. Yesterday, BlackRock’s IBIT led with $167.49 million added in one day. Its total historical inflows now hit $16.75 billion. Ark Invest and 21Shares’ ARKB was next at $71.22 million daily, with lifetime totals at $1.62 billion. Fidelity’s FBTC was the only product that saw an outflow of $16.93 million. Even so, its all-time inflows stand at $11.04 billion. As of now, all Bitcoin spot ETFs hold $102.79 billion in assets. That is 6.59% of BTC’s total market cap. Cumulative net inflows reached $58.21 billion, close to the peak of $62.8 billion. According to André Dragosch , European Head of Research at Bitwise, for the last five trading days, these BTC ETFs soaked up 18,991 BTC. That’s nine times the new BTC supply mined in the same time. Eric Balchunas in one of his tweets stated that in the last few days, weeks, months, more money is going in than coming out, which has not happened in a long-time. This indicates that the sentiment around ETF products have improved. He highlights iShares Bitcoin Trust pulling in $3 billion, which is better than most ETFs ever (top 1%). But he adds a reality check. Even though flows are strong, total lifetime inflows (~62.8 billion) have not broken new highs yet. They still need a couple more billion to reach a new record. Bitcoin ETFs flows are (to quote Steve Winwood) back in the high life.. every single rolling period for we track is now positive, haven’t seen that in months (IBIT’s $3b is in Top 1% of all ETFs). Still tho, need a couple bil more to get back to breaking new ground in cumulative lifetime flows (62.8b). -Eric Balchunas, Senior ETF Analyst for Bloomberg Companies Double Down on BTC Buys Japan’s Metaplanet Inc. is raising ¥8 billion ($52 million) through zero-interest bonds to buy more BTC. These bonds do not pay interest and will be repaid in full next year, showing strong confidence in BTC’s long-term value. The entire issuance is backed by EVO FUND, with no collateral involved. *Metaplanet Issues 8 Billion JPY in 0% Ordinary Bonds to Purchase Additional $BTC * pic.twitter.com/az8kfL7eeA — Metaplanet Inc. (@Metaplanet) April 24, 2026 At the same time, MicroStrategy made a massive $2.54 billion BTC purchase, reinforcing its position as the largest corporate holder. Despite risks like share dilution, such aggressive buying signals growing institutional belief in BTC as a key treasury asset. Bitcoin Stuck Below $78K Despite Strong Institutional Demand Even though there have been strong developments such as positive ETF inflows and fresh institutional interest like Metaplanet Inc. raising ¥8 billion to buy Bitcoin, the price of the token is still struggling to break above the $78,000 level. This shows that even though there is a demand, sellers are active near resistance, keeping BTC stuck in a range. Bitcoin is currently moving in a tight range, showing no strong direction yet. At press time, the price of the token stands at $77,725.87 with a drop of 0.5% in the last 24-hours as per CoinGecko. BTC 24-hours chart As long as the BTC price stays above the key support zone around $77,000, it may continue to move sideways roughly between $77,000 and $78,600. This means the market is in a pause phase and is waiting for a clear breakout. If the token falls below the $77,000 mark, then it could further drop down to $76,250, which is an important support level. On the upside, a move above $78,600 would signal strength and possible upward momentum. Another important factor is ETF inflows, steady money coming into Bitcoin funds is helping support the price. Overall, the short-term outlook is neutral, with traders watching for a clear move up or down. Also Read: HashKey and ANAP Partner to Jointly Expand Bitcoin Services in Japan

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