Crypto Market Surge: Bitcoin Nears $95K as BlackRock's IBIT Hits $1B Inflows, USDC Soars 40%

The cryptocurrency sector is seeing a resurgence, marked by an upswing in Bitcoin’s value along with the growth of stablecoins such as USDC. This reflects a blend of speculative excitement and real-world functionality within the developing digital financial landscape.

With Bitcoin hovering around $95,000—the peak for more than two months—excitement fills the cryptocurrency sphere: BlackRock’s Bitcoin exchange-traded fund (ETF) is close to attracting $1 billion in investments, and Circle’s USDC stablecoin has surged by 40% this year, highlighting significant transformations within the world of digital assets.

BlackRock’s Bitcoin ETF experiences second biggest influx asBTC surges

The value of Bitcoin has skyrocketed to $95,000, fueled by a substantial flow of speculative investment entering the marketplace.

In its most recent report Glassnode reports that 'hot supply'—Bitcoin transferred within the last week—has surged to $40 billion, up from $17.5 billion in March, suggesting increased short-term trading activities among investors.

This surge in speculative activity echoes trends seen in past bull markets, where short-term holders frequently intensify price fluctuations through quick successive purchases and sales.

Currently, short-term holders are back in profit, with 86% of the supply showing gains, and the Net Unrealised Profit/Loss (NUPL) metric at 0.53, reflecting increased investor confidence in Bitcoin’s upward trajectory.

Nevertheless, on-chain network activity like daily active addresses , stays comparatively subdued, indicating that the market hasn't fully transitioned into a complete bullish stage even with the rise in prices.

Glassnode notes that while early signs of fear of missing out (FOMO) are emerging, a full bull market is not yet confirmed due to subdued underlying network metrics.

Analysts warn that while speculative inflows can propel prices upward, they also heighten the risk of abrupt corrections, particularly as Bitcoin nears the $100,000 psychological barrier that could trigger profit-taking.

Adding to the bullish sentiment, BlackRock’s iShares Bitcoin Trust (IBIT) ETF experienced a remarkable $970.9 million inflow on Monday, based on Farside Investors statistics , recording its second-highest single-day increase since it was launched in January 2024.

This surge indicates increasing institutional interest in Bitcoin, particularly since rivals such as Fidelity’s FBTC and ARK’s ARKB experienced significant withdrawals. This might suggest a move toward favoring BlackRock’s ETF among investors.

Industry experts such as Nate Geraci and Eric Balchunas have commended IBIT's performance, highlighting how it has overcome previous skepticism regarding the interest of conventional investors in Bitcoin ETFs.

In terms of derivatives, the open interest in CME Bitcoin futures has decreased for four straight days, suggesting lower leverage in the market as certain traders reduce their holdings.

Despite this, the annualized basis yield has increased from 5% to 9%, potentially luring traders back to the futures market to capitalize on the pricing discrepancy between spot and futures contracts over the next few days.

Circle's USDC grows as regulatory challenges ease

The firm behind USDC, Circle, has received preliminary regulatory endorsement from Abu Dhabi’s Financial Services Regulatory Authority, enabling it to function as a money service provider within the region of the Middle East.

Circle @circle · Follow

We've gotten In-Principle Regulatory Approval from @ADGlobalMarket ! 🇪🇬 We've also established a strategic partnership with @hub71ad , with the aim of bolstering innovation in the realm of digital assets, and enhancing accessibility to reliable, open, and regulated stablecoins.

12:00 PM · April 29, 2025 183 Reply

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This endorsement marks a strategic turning point for Circle, setting up USDC to take advantage of the expanding digital economy in the area and encouraging fresh investment prospects in a marketplace keen for blockchain solutions.

Jeremy Allaire, Circle's CEO, highlighted that this step is in line with their objective to integrate into markets that are adopting blockchain technology as a cornerstone for financial advancement.

At the same time, USDC’s market capitalization has increased by more than 40% in 2025, hitting $62 billion, which reinforces its position as the second-biggest stablecoin following Tether’s USDT.

The company's international aspirations are underscored by its adherence to the European Union’s strict Markets in Crypto-Assets (MiCA) regulations, positioning Circle as the first significant stablecoin issuer to achieve this level of regulatory compliance.

This compliance with regulations is expected to strengthen institutional confidence and boost the use of USDC throughout Europe, as financial organizations are progressively looking into integrating stablecoins.

Furthermore, Circle has extended its reach into Japan via a collaboration with SBI Holdings, introducing USDC to access Asia’s dynamic cryptocurrency market and serve its technologically adept populace.

The increasing adoption of stablecoins such as USDC is fueled by their usefulness in transactions and money transfers, providing a quicker and more economical option compared to conventional financial systems, especially in underbanked areas where access to banking services is restricted.

To boost USDC’s capabilities, Circle has launched a new cross-border payment system designed to simplify global transactions and expand the real-world applications of this stablecoin for both companies and personal users.

Even with these developments, Circle has entered a quieter phase after submitting paperwork for an IPO in the U.S., which restricts its capacity to discuss upcoming strategies as it gets ready for this major step.

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