Bitcoin ETFs Bounce Back As Trump Turns Up the Heat on Powell—Chaos Ensues! 🚀🔥

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So, here we are, watching Spot Bitcoin ETFs in the U.S. awkwardly regain their footing like a caffeine-dependent squirrel after Bitcoin surged past $85,000—a figure that sounds more like a spaceship model than a currency. This uptick was nudged along by whispers of the Fed possibly putting its hiking boots on pause, all while President Trump plays his favorite game: “Let’s Shake Up the Fed Chair.”

According to the ever-watchful data gurus at SoSoValue, 12 of these Bitcoin ETFs collectively welcomed $15.85 million after enduring a bruising two-week sob story during which $886 million decided to exit stage left—bitterness lingers in the ETF air.

Between April 14 and 17, the ETF rollercoaster made some interesting loops: a casual $1.47 million stroll on Monday, a hearty $76.42 million jog on Tuesday, a dramatic $169.87 million stampede outward on Wednesday (someone forgot to pay the market’s bar tab), then a Thursday redemption arc with $107.83 million flowing back like a boomerang that’s pretty good at its job.

BlackRock’s IBIT came charging into the party with a suave $186.5 million, sort of like the popular kid everyone wants to hang out with. Bitwise’s BITB wasn’t far behind, bringing $23.8 million to the buffet. And of course, the supporting cast—Grayscale’s mini BTC Trust, Invesco’s BTCO, Franklin’s EZBC, and VanEck’s HODL—added a modest $26.3 million. Together, they formed ETF Avengers of sorts, minus the spandex.

But don’t pop the champagne just yet—Fidelity’s FBTC and ARK’s ARKB decided to be party poopers, storming out with $174.9 million and $99.8 million respectively, like they found something better on the other side of Wall Street. The rest of the ETFs were… let’s say, on a caffeine break—pretty flat.

Meanwhile, Ethereum ETFs, ever the sensitive types, are still nursing their wounds after $32.17 million tiptoed out last week, marking their eighth consecutive week of wiping out nearly $910 million. Someone call a therapist.

Now, the real show-stopper: the Trump-Powell saga that had markets playing emotional ping pong. On April 16, Powell gave a speech in Chicago, calmly saying the Fed isn’t rushing to cut rates—basically telling Trump to cool his jets. He also pointed out that Trump’s tariffs on China might stoke inflation and mess with jobs, which apparently sent Wednesday’s funds fleeing faster than you can say “trade war.”

But on Thursday, Trump flipped the script with his classic “Powell’s termination can’t come fast enough,” which sounds suspiciously like a line from a reality TV show. Then buzz emerged that Kevin Warsh, a former Fed guy with known crypto sympathies, might be in the running. Suddenly, Bitcoin dusted itself off and sprang up 3% early Monday to over $87,600—its highest peak since Trump declared his “Liberation Day” tariffs (because nothing says ‘freedom’ like trade turmoil).

This rebound erased those earlier April bruises and pushed Bitcoin up more than 16% since hitting a low near $75K on April 9. It’s now a mere 20% shy of its all-time high, and investors are blinking awake, possibly trading their pajamas for bullish hats.

Curiously, Bitcoin seems to be shadowing gold’s moves, both benefiting from a dollar that’s been shedding strength faster than a summer tan in a New England rainstorm. The U.S. Dollar Index has dropped 10% this year, all thanks to the delightful cocktail of global trade tensions.

On April 21, analysts from Geiger Capital posted on X (because nothing says “official” like 280 characters) that Bitcoin looks primed to “decouple” from traditional markets. They highlight a chart where BTC escaped a large falling wedge pattern—a technical mumbo jumbo that quite possibly means a smoother ride and some gains for those willing to strap in.

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2025-04-21 10:13