The crypto market is in the green today, with gains seen across major tokens. Gold has also continued its upward trend, while stock markets remain uncertain. The contrast has sparked discussion about a possible decoupling between digital assets and traditional equities.
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A Market-Wide Move
Bitcoin has surged above $91,000 for the first time since early March, marking a strong recovery after several weeks of sideways trading. At the time of writing, Bitcoin is trading around $91,200, up 4.5% today and 8.5% over the past seven days:
Several major tokens posted notable gains as well – Ethereum reached $1,700 after rising 7% on the day. Solana gained 5.5% today and nearly 13% for the entire week. DOGE is up 8% in the past 24 hours, while SUI climbed 11%. One of the biggest daily gainers is Fartcoin, which led the top 100 tokens with a nearly 20% surge.
ETF Inflows Suggest Renewed Institutional Interest
Part of the market’s strength appears to be linked to rising inflows into U.S.-listed Bitcoin ETFs. On April 21, spot Bitcoin ETFs recorded $381 million in net inflows, the highest single-day total since late January. Large funds including BlackRock’s IBIT and Fidelity’s FBTC were among the top contributors.
Bitcoin’s Recent Behavior Sparks Decoupling Discussion
Bitcoin’s ability to rise during the current period of stock market uncertainty has revived discussion around its potential to decouple from traditional risk assets. While the long-term correlation between Bitcoin and tech stocks remains relatively high, recent movements suggest some investors are treating it more as a macro hedge than before.
Today’s rally has come despite continued concerns about tariffs and ongoing uncertainty around U.S. monetary policy. Speculation around Federal Reserve leadership and delays in anticipated rate cuts have also contributed to broader market volatility.
Looking Ahead
While the latest rally has lifted short-term sentiment, the coming days may offer more clarity on whether this is a lasting shift or a temporary rebound. Bitcoin has yet to decisively break through its March highs, and macroeconomic risks remain in play.
Still, the coordinated strength across major tokens, ETF inflows, and broader market recovery suggest that crypto assets are gaining renewed attention from both retail and institutional participants.
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