Crypto Market Recovers as Bitcoin ETF Demand Returns, But Risks Linger

The crypto market rebounded over the weekend, with bitcoin reclaiming $85,000 and ether surpassing $2,000. The rally was driven by improving sentiment in equities and Federal Reserve Chair Jerome Powell’s cautious but reassuring remarks last week.

According to QCP’s market insights on March 24, one of the key catalysts behind this recovery was the sharp reversal in bitcoin spot ETF inflows. Last week, ETFs saw a net addition of 8,775 BTC, valued at approximately $744 million, after multiple weeks of outflows. This influx of fresh capital suggests a rotation of liquidity back into crypto, with the rally appearing to be led by genuine spot demand rather than excessive leverage.

Reflecting this shift, the Crypto Fear & Greed Index has climbed from 32% to 45% in the past week, nearing neutral territory. Meanwhile, options market data indicates a neutral stance, with implied volatility trending lower and risk reversals flattening out.

Despite this momentum, uncertainty remains. The potential escalation of tariffs on April 2 could put renewed pressure on risk assets, and traders are wary of another short-lived rally similar to last week’s surge, which retraced within 48 hours. Crypto investors remain on alert for signs of sustained momentum or another pullback.

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