Bitcoin is making a bid to regain a vital support level, while spot exchange-traded funds tied to the leading cryptocurrency have shown their strongest performance since the market downturn in October. US spot Bitcoin funds have continued their impressive run, marking eight consecutive days of gains after attracting $223.2 million on Thursday. This surge underscores the strong demand for these investment products during the ongoing recovery in the crypto market. According to data, funds based on BTC have seen a consistent influx of positive net flows since April 14, accumulating $2.09 billion in inflows during this period. This showcases the category’s strongest performance over different periods since the significant nine-day run in late September to early October, when the products saw around $5.33 billion in inflows.
In the weekly and monthly timeframes, Bitcoin funds are currently showcasing their strongest performance of 2026, matching March’s four-week streak while nearly doubling the monthly inflows, with $2.43 billion recorded in April thus far and four days remaining. Market observer Sjuul noted that sustained institutional demand is on the rise once more, emphasizing that the products are nearing the conclusion of their second consecutive positive month of 2026, marking the first two-month streak since October 2025. In a recent statement, analyst Erich Balchunas confirmed that Bitcoin ETF flows are experiencing a resurgence as every single tracking period turns positive and cumulative net inflows reach $58.33 billion. “Every single rolling period we track is now positive; we haven’t seen that in months (IBIT’s $3 billion is in the Top 1% of all ETFs). Still, a couple billion more is needed to return to breaking new ground in cumulative lifetime flows (62.8 billion),” he wrote on X.
The performance of Bitcoin funds is noteworthy as the flagship cryptocurrency persistently faces rejection from a significant resistance zone. In a recent analysis, it is observed that while BTC’s price is showing upward momentum, the key levels have not shifted. Importantly, the 21-week Exponential Moving Average, positioned near $78,000, stands as a significant resistance level, with the cryptocurrency struggling to regain it on the weekly timeframe. “If the weekly close is above the 21-week EMA, it will be interesting to see if this EMA can be regained as support,” the analyst stated, pointing out that this level frequently serves as resistance in bear markets. If the cryptocurrency fails to reclaim this level as support, it may lead to a post-breakout retest of its Double Bottom pattern, impacting its price significantly. Last week, Rekt Capital highlighted that Bitcoin had successfully broken out of a Double Bottom formation, potentially paving the way for a measured move toward the $81,000-$82,500 range.
He has stated that the “Double Bottom formation top could always become a post-breakout retesting zone in the event of rejection from the moving average.” Additionally, he emphasized that BTC remains below the foundation of the macro triangle formation it descended from in late January. Historically, Bitcoin has faced challenges in reclaiming a macro triangle during a bear market following a price breakdown. The analyst warned that if this trend continues, the leading cryptocurrency could face limited additional gains towards the pattern’s base before resuming its decline towards the market low.