Bitcoin shattered the $80,000 barrier on 4 May 2026, climbing to $80,594 in early Singapore trading before settling around $79,700-$80,393, its highest level since 31 January 2026.
The breakthrough capped a three-month recovery from February lows near $60,000, signaling renewed momentum in crypto markets as institutional demand accelerates and geopolitical tensions ease.
Ether (ETH) advanced in tandem, rising 2.14% to $2,358.63 and testing key resistance at $2,375, while smaller tokens like Solana posted modest gains. The rally coincided with Asian equities approaching pre-war record highs, driven by strong technology earnings and improving risk sentiment across global markets.
Meanwhile, US spot Bitcoin ETFs pulled in $629.8 million in net inflows on 1 May 2026, marking the largest single-day influx since mid-April and signaling robust institutional demand despite recent market volatility. BlackRock's iShares Bitcoin Trust (IBIT) led the surge with $284.4 million, while Fidelity's Wise Origin Bitcoin Fund (FBTC) added $213.4 million.
BlackRock and Fidelity Dominate ETF Flows
The massive inflow reversed a brief three-day outflow streak and capped a strong April that saw $2.44 billion in total ETF inflows—the strongest month of 2026 to date. Bitcoin traded around $78,310 during the period, with total Bitcoin ETF assets now exceeding $103.78 billion, representing 6.66% of Bitcoin's total market capitalization.
The May 1 inflows marked the second consecutive day of positive flows, following $578.2 million on April 30. Combined, the two-day total of $1.208 billion represents the strongest such period in the past month. Beyond the leading duo, Ark/21Shares' ARKB contributed $88.5 million, with additional inflows from Bitwise BITB, VanEck HODL, and smaller additions from Grayscale Mini BTC and Morgan Stanley MSBT.
BlackRock's IBIT has recorded net inflows of $32.684 billion since its January 2024 launch, while Fidelity's FBTC has recorded net inflows of $11.08 billion. Total cumulative net inflows across all Bitcoin ETFs reached $58.72 billion, with daily trading volumes holding above $1.4 billion.
Inflows could fuel a bullish trend targeting resistance levels at $80,000-$88,000
The strong inflows provide structural support for Bitcoin's price, which currently trades 4.9% below its 200-day exponential moving average. Could sustained inflows fuel a bullish trend targeting resistance levels at $80,000-$88,000 if Bitcoin closes above key technical thresholds?
In contrast, Ethereum ETFs recorded $101.2 million in outflows on the same day, amid the Ethereum Foundation's $47 million in ETH sales, highlighting Bitcoin's growing appeal as an institutional inflation hedge. The divergence underscores Bitcoin's maturing market position and increasing dominance in the crypto space.
With total assets surpassing $103 billion and representing nearly 7% of Bitcoin's market cap, ETF flows have become a critical indicator of institutional sentiment and market direction heading into the second quarter of 2026.