What to know:
- Bitcoin soared to $90,000—a figure that’s basically the financial equivalent of your toaster suddenly gaining sentience.
- U.S. spot bitcoin ETFs sucked in over $380 million on Monday, apparently more popular than your average Monday mood.
- Negative perpetual funding rates mean short sellers are literally paying long holders to keep this rollercoaster going. It’s like subsidizing your own caffeine addiction. ☕️
Bitcoin (BTC) decided to shake off its mid-March hibernation and rocketed to $90,000, up over 5% in five days—because apparently, it likes confusing everyone by acting nothing like traditional equities. Meanwhile, the S&P 500 is sulking below 5,200 points as if it just remembered it left the stove on.
Despite this leap, bitcoin still sports a modest 5% year-to-date loss, because what’s a good cryptocurrency rally without some existential dread? It bounced bravely from an April 8 low that looked like a financial Black Hole, nearly 30% below its peak frenzy level of about $109,000 from January—remember that era? Good times.
From the arcane realm of market structures, the average perpetual funding rate is negative, which is financial speak for: “Short sellers are paying long holders to keep holding their breath,” a situation that usually means the rocket might launch higher or just explode. 🚀💥
Monday’s $380 million inflow into U.S. spot bitcoin ETFs was the biggest since January 30. Combine that with a Nasdaq that’s up over 1% on what’s being cheekily called “Turnaround Tuesday” and you might imagine bitcoin preparing for an encore, though there are still some technical hurdles lurking like cosmic trolls on the price road.
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2025-04-22 17:18