NEW YORK, April 23, 2026, 03:48 EDT
Bitcoin hovered around $78,100 early Thursday after a sharp run put $80,000 back in view, extending a rebound that pushed the world’s largest cryptocurrency to its highest level since Jan. 31. It was last at $78,099 after touching $79,426 in intraday trade; Reuters reported it hit $79,481 on Wednesday.
That matters now because bitcoin is back near late-January levels just as large investors have more listed ways to own it. Spot bitcoin ETFs — exchange-traded funds that hold the token directly rather than futures — and corporate treasury buyers such as Strategy now provide two visible demand streams, and both were active this week.
The flow picture has improved. U.S. spot bitcoin ETFs drew a net $335.8 million on April 22, according to Farside Investors, with BlackRock’s IBIT pulling in $246.9 million and Fidelity’s FBTC adding $56.7 million. That lifted the total net intake since April 14 to about $1.87 billion.
Company buying has added to the bid. A filing with the U.S. Securities and Exchange Commission showed Strategy bought 34,164 bitcoin between April 13 and April 19 for about $2.54 billion, or $74,395 each on average, taking its holdings to 815,061 coins.
The demand story is broader than the United States. In Hong Kong, Bitfire said it would use a newly acquired investment team and trading system to launch regulated asset-management products built around bitcoin. Chief Executive Livio Weng said, “Market demand for such products is huge.” Reuters
Other big tokens moved with it, though the follow-through softened by Thursday. Reuters reported ether rose 3.48% on Wednesday to $2,398.37; by Thursday it was back near $2,351. Wall Street’s S&P 500 and Nasdaq finished at record closes in the same session.
But the backdrop is still geopolitical, and thin-skinned. Asian shares gave up early gains on Thursday and Brent crude climbed to $103.3 a barrel after Iran captured two container ships in the Strait of Hormuz. “Markets look very on edge here,” Saxo chief investment strategist Charu Chanana said. Reuters
Leverage is another variable. Reuters reported that U.S. crypto exchanges are preparing to launch perpetual futures — contracts with no expiry date that let traders keep bets open and often borrow heavily — ahead of expected regulatory clarity. Ryan Rasmussen, head of research at Bitwise Asset Management, said, “I think we’re going to see more and more investors start taking risks” with perpetuals. Even after this week’s rebound, bitcoin remains well below the record $126,223 reached in October. Reuters
