Bitcoin and the broader cryptocurrency market remained mostly flat over the past 24 hours, even as exchange-traded funds (ETFs) tied to the asset class recorded more than $590 million in inflows on Monday.
This marked the first full week of net positive flows since late March, reinforcing growing investor interest in Bitcoin as a potential safe-haven asset.
Leading the ETF inflows was BlackRock’s IBIT, which attracted $970 million, underscoring strong institutional appetite. In contrast, Ark Invest’s ARKB saw net outflows of $200 million.
Bitcoin traded steadily above the $94,000 mark during Asian trading hours on Tuesday, a level that some analysts suggest could pave the way toward a push past $100,000 if breached.
Altcoins offered little excitement, with Ethereum (ETH), XRP, Cardano (ADA), and Binance Coin (BNB) holding steady. Solana’s SOL dipped 2%, while Monero (XMR) suffered a sharper 8.5% decline after spiking 40% the previous day—activity believed to be linked to a large BTC-to-XMR swap reportedly worth over $330 million, according to blockchain analyst ZachXBT.
Among mid-cap tokens, Nexo (NEXO) stood out with an 8% gain following its announcement to reenter the U.S. market after a two-year regulatory pause. The company plans to focus on artificial intelligence applications within its crypto offerings.
Market sentiment remained cautious ahead of key U.S. economic data releases later in the week, including GDP growth figures and unemployment rates. The recent announcement of new U.S. tariffs also added a layer of uncertainty.
“Markets are largely holding onto last week’s gains, but traders are taking a wait-and-see approach ahead of important U.S. data,” said Jeff Mei, Chief Operating Officer at crypto exchange BTSE. He also pointed to ongoing weakness in the U.S. dollar as a factor potentially fueling Bitcoin demand. The U.S. dollar index, which tracks the greenback against a basket of major currencies, has fallen nearly 6% over the past month—the steepest decline since 2022.
Meanwhile, traders are increasingly discussing the relationship between Bitcoin’s price and the M2 money supply—a broad measure that includes cash, checking, and savings accounts. The narrative suggests that rising M2 levels could be fueling renewed interest in Bitcoin as a hedge against inflation and fiat debasement.
“Some believe Bitcoin is poised for a delayed surge in response to recent growth in the M2 supply,” said Augustine Fan, Head of Insights at SignalPlus. “While we remain cautious about drawing direct correlations, we do maintain a bullish outlook on Bitcoin over the medium term—especially as monetary and fiscal policies are expected to ease in response to slowing economic activity.”
Although viral charts comparing Bitcoin prices and M2 expansion are gaining attention online, many analysts warn against oversimplifying these relationships, noting that market drivers are often more nuanced than they appear.
