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Institutional investors, including sovereign wealth funds, fueled Bitcoin’s 13% surge in April, while retail investors withdrew from ETFs. Coinbase’s John D’Agostino highlights de-dollarization and inflation hedging as key drivers. Bitcoin’s resilience contrasts with retail ETF outflows, signaling shifting market dynamics.
- Institutional investors, including sovereign wealth funds, drove Bitcoin's 13% April rally, while retail ETF flows turned negative by $470 million.
- Bitcoin's demand is linked to de-dollarization, inflation hedging, and its decoupling from tech-stock correlations, per Coinbase's John D’Agostino.
- Analysts caution Bitcoin's recent resilience doesn’t yet qualify it as a 'safe haven,' noting its vulnerability in a recession.
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