Bitcoin Hovers Above $94K as ETF Inflows Strengthen and Macro Tensions Linger

Bitcoin continued to trade above the $94,000 mark on Tuesday, showing resilience amid a backdrop of muted crypto price action, mounting economic uncertainty, and a surge in demand for U.S.-based exchange-traded funds (ETFs).

Investors poured over $590 million into Bitcoin ETFs on Monday, marking six consecutive days of inflows and the first full week of positive momentum since March. Leading the charge was BlackRock’s IBIT, which attracted $970 million, while Ark Invest’s ARKB saw a notable $200 million outflow. The flow divergence reflects differing investor preferences even as Bitcoin solidifies its role as a perceived macro hedge.

Price-wise, major tokens such as XRP, Ethereum (ETH), Cardano (ADA), and BNB were largely unchanged, while Solana (SOL) shed 2%. Privacy coin Monero (XMR) reversed gains from the prior day, sliding 8.5% after blockchain investigator ZachXBT linked a suspicious $330 million BTC-to-XMR swap to a hacker.

In mid-cap news, Nexo (NEXO) jumped 8% following its announcement to re-enter the U.S. market, ending a two-year regulatory pause. The company said it would now focus heavily on AI integration in its services.

While price movements were limited, market participants are bracing for a wave of U.S. economic data, including GDP, unemployment, and other indicators due later this week.

“The crypto market is in a bit of a wait-and-see mode,” said Jeff Mei, COO of BTSE, in a message to CoinDesk. “Traders are digesting the latest macro shifts, especially after the U.S. imposed new tariffs, which could have broader economic effects.”

The U.S. dollar index has slipped nearly 6% over the past month, its worst showing since 2022 — a decline that may be pushing institutions to diversify holdings and increase exposure to digital assets.

Online, a growing number of traders have turned their focus to M2 money supply trends, suggesting that Bitcoin may respond positively to increases in liquidity. Augustine Fan, head of insights at SignalPlus, acknowledged the chatter but urged caution.

“While the correlation between M2 and Bitcoin is getting more attention, we’re skeptical of oversimplified interpretations,” Fan said. “That said, we’re constructive on Bitcoin in the medium term, especially as governments begin to respond to economic headwinds with more accommodative fiscal and monetary policies.”