This Week in Crypto News (April 29–May 4, 2025): Bitcoin Eyes $100K, ETF Inflows Surge, and Canada Faces a Crypto Crossroads
As we step into the first week of May 2025, the cryptocurrency market is abuzz with activity. Bitcoin (BTC) is nearing the $100,000 mark, fueled by significant ETF inflows and growing institutional interest. Meanwhile, Canada’s recent political shift may influence the country’s crypto regulatory landscape. Here’s what to watch in the coming days.
Bitcoin Approaches $100K Amid Institutional Inflows
Bitcoin is currently trading around $94,944, showing a modest increase of 0.24% over the past 24 hours. Analysts from Standard Chartered project that BTC could reach $120,000 by mid-2025, driven by factors such as increased institutional adoption and favorable macroeconomic conditions.
Technical indicators also support this bullish outlook. Bitcoin has broken out of a multi-month falling wedge pattern and closed above its 200-day moving average, signaling strong upward momentum. Additionally, on-chain data reveals an uptick in wallet addresses holding over 1 BTC, indicating growing accumulation among investors.
Adding to market optimism, President Donald Trump’s renewed pro-crypto stance — expected to be highlighted in his upcoming 100-day speech — is fueling speculation about more favorable policies for the digital asset space.
Bitcoin ETFs See Record Inflows
Bitcoin exchange-traded funds (ETFs) have experienced unprecedented inflows, with a total of $3 billion pouring in during the week of April 21-25. BlackRock’s IBIT led the charge, attracting $970 million in a single day.
These inflows underscore the growing institutional confidence in Bitcoin as a legitimate asset class. The surge in ETF investments is tightening the available supply of Bitcoin in the open market, potentially driving prices higher in the near term.
Canada’s Political Shift May Impact Crypto Regulation
In Canada’s recent federal election, Prime Minister Mark Carney’s Liberal Party secured enough seats to form at least a minority government, leading to the loss of pro-crypto Conservative Leader Pierre Poilievre’s parliamentary seat.
While cryptocurrency was not a central issue in the election, Poilievre was known for his support of Bitcoin and financial decentralization. His defeat could lead to a more cautious approach toward crypto regulation in Canada under Carney’s leadership. Carney has previously advocated for tighter regulation of digital assets, which may influence future policies affecting Canada’s crypto industry.
For Canadians looking to buy crypto, staying informed on regulatory changes will be more important than ever as the market evolves.
Market Snapshot (Week Ahead Outlook)
Bitcoin (BTC): $94,885
Bitcoin remains strong just under $95,000, with ETF inflows fueling hopes for a push toward $100,000. This week, all eyes are on ETF demand, macroeconomic news, and whether Bitcoin can break through key resistance at $96,000–$98,500.
Ethereum (ETH): $1,821
Ethereum is holding steady above $1,800 and could benefit from renewed interest in Layer 2 scaling solutions. While ETH is likely to follow Bitcoin’s overall momentum, developments around DeFi and network upgrades could give it a boost.
XRP: $2.29
XRP has cooled slightly but remains in a strong position above $2.20. A Bitcoin rally could lift XRP toward $2.40, but weak volumes or regulatory headlines could keep it range-bound for now.
Overall Outlook:
This week looks pivotal. Crypto markets are building energy and are poised for a potential breakout — especially if Bitcoin cracks above $96,000 convincingly. However, with big gains already behind us for April, volatility could pick up. Traders and investors should stay nimble, watch ETF flows closely, and be ready for sharp moves in either direction.
As Bitcoin edges closer to the $100,000 milestone and institutional interest continues to surge, the crypto market is gearing up for what could be another historic week.
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