Coinbase Inks Strategic Partnership With PayPal to Enable Mainstream Adoption of PYUSD Stablecoin

US-based Bitcoin exchange-traded funds (ETFs) experienced their largest single-day net inflow in nearly two months. As per the data, this is the highest daily inflow since January 30, when the funds attracted $588.1 million shortly after Bitcoin price reached its all-time high.

ARK and Fidelity funds show strong Bitcoin ETF performance

The strong inflow on April 21 saw $381.3 million entering the funds. It was widely distributed across multiple ETF providers, with ARK 21Shares Bitcoin ETF (ARKB) capturing the largest share at $116.1 million. Fidelity Wise Origin Bitcoin Fund (FBTC) followed with the second-highest inflow at $87.6 million. The data comes as Bitcoin price has reclaimed the $88,000 level.

Grayscale, which had previously experienced substantial outflows after converting its Bitcoin trust to an ETF, showed signs of stabilization with its Bitcoin Trust (GBTC) and Bitcoin Mini Trust ETF (BTC) recording combined inflows of $69.1 million.

BlackRock’s iShares Bitcoin Trust ETF (IBIT), which maintains the largest assets under management among the Bitcoin ETFs, attracted $41.6 million, approximately half of what it had received before the weekend trading break on April 17. Other funds including HODL and EZBC also contributed to the day’s positive performance with inflows of $11.7 million and $10.1 million respectively. The positive ETF inflow comes amidst the expectation of the first ever XRP ETF going live.

United States experience continued crypto outflow

While US Bitcoin ETFs saw strong performance on April 21, overall digital asset investment data for the week shows notable geographic variations in investor behavior. According to CoinShares’ weekly report, the overall digital asset investment sector showed modest total inflows of $6 million for the week.

The United States continued to experience net outflows totaling $71 million for the week despite the strong single-day performance on April 21. This suggests that the substantial inflow day was an exception to the generally cautious US investor stance.

In contrast, European markets displayed more positive sentiment toward digital asset investments. Switzerland led with inflows of $43.7 million, followed by Germany with $22.3 million. Canada also contributed positively with $9.4 million in net inflows during the same period.

The CoinShares report highlighted that broader market sentiment fluctuated throughout the week, with stronger-than-expected US retail sales figures that caused significant outflows of $146 million mid-week.

Bitcoin products specifically ended the week with minor outflows of $6 million despite the substantial daily inflow seen in the ETF data. Additionally, short Bitcoin investment products recorded outflows of $1.2 million which was their seventh consecutive week of outflows. These products have now seen investors withdraw approximately 40% of their total assets under management over this period.

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Bitcoin price rally halted at $97,800 on Saturday, as markets reacted to a major update in Arizona state’s cryptocurrency reserve adoption.

Arizona State Governor Vetoes Against Bitcoin Reserve Bill After Congress Approval

Bitcoin’s upward momentum faced unexpected headwinds this week following a political setback in Arizona. Governor Katie Hobbs formally vetoed Senate Bill 1025, which sought to allow the state to invest public funds in Bitcoin.

This move came just days after the bill passed the Arizona House, signaling bipartisan momentum toward crypto adoption at the state level.

Citing fiduciary risk, Hobbs emphasized that Arizona’s retirement system remains one of the nation’s strongest precisely because it avoids “untested” assets like virtual currency.

This development aligns Arizona with several other states, Oklahoma, Montana, and Wyoming, where similar crypto bills have faltered.

The bill had proposed establishing a Digital Assets Strategic Reserve using seized state funds and upto 10% of the state Treasury.

Hobbs’ veto marks a significant reversal, especially as the state legislature had edged closer to positioning Arizona as the first U.S. state to adopt Bitcoin as a reserve asset.

Looking forward, another related proposal, SB1373, still awaits a final vote and may reopen the conversation if it garners enough legislative support.

Bitcoin Price Hits Sell-Wall at $98,000, as Short-Traders Cluster $1.2B Leverage

BTC price posted a strong performance through the week, climbing to new 70-day highs at $97,800 early Saturday before retracing toward $96,700.

The timing of the pullback, which closely followed Governor Hobbs’ veto, appears to have introduced caution among traders and short-term holders.

Data from Coinglass’ Liquidation Map reveals a dense cluster of short positions at the $98,000 mark, where bears have placed roughly $1.2 billion in leveraged bets.

The liquidation map visually highlights where significant liquidations may occur if price moves strongly in either direction.

While bulls control a dominant $7.45 billion in long positions, only $4.42 billion sits on the short side. However, nearly 25% of the total short leverage is focused precisely at $98,000, suggesting that bears are using Arizona’s regulatory rejection as a catalyst to test upside resistance.

Despite this, bulls still hold a $3 billion advantage, suggesting a strong defense could emerge around support levels, particularly near $96,000, where previous consolidation zones have formed.

Looking Ahead: Tempered Weekend Action Ahead for Bitcoin Price Forecast

With Arizona’s veto introduces fresh regulatory skepticm, it could weaken institutional demand over the weekend as markets await further clarity.

The presence of $1.2 billion in short positions clustered at $98,200 creates a psychological and technical ceiling, dampening momentum toward a $100,000 breakout.

For Bitcoin to advance towards the $100,000 bullish BTC price forecast trajectory, a decisive move above this short cluster is required, potentially triggered by renewed institutional accumulation or fresh policy tailwinds.

Until then, Bitcoin price action could be limited within the $96,000–$98,000 range, if weekend activity subsides as predicted.

Bitcoin Price Forecast Today: Rangebound Between $96,000 and $98,000 Amid Waning Momentum

Bitcoin price forecast today suggests a tempered and cautious stance, with momentum visibly slowing just below the $98,000 mark.

The daily chart shows BTC consolidating after a strong run, but the reluctance to breach upper resistance near the Bollinger Band’s top at $100,736 reflects rising overhead pressure.

On the positive side, BTC price remains above the 20-day moving average, at $90,813, but the tightening bands signal reduced volatility and a potential pause in upward extension.

The BBP indicator, though still in positive territory at 5,647, has flattened, reflecting a moderation in buying pressure.

Meanwhile, the MACD lines remain in a bullish crossover, but the histogram bars are shortening—implying weakening bullish momentum.

This raises the possibility of a sideways drift over the weekend unless another significant market catalyst revives institutional interest

Bitcoin price forecast today leans cautious as long as price action remains boxed between $96,000 support and $98,200 resistance.

A decisive break above $98,200 would invalidate the consolidation thesis, while a drop below $96,000 could open downside toward $92,000. For now, the technicals call for restraint until clearer direction emerges

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