Overview

• Bitcoin's price reached $94,500 before settling around $93,000, marking a significant recovery from its early April lows of $74,500.
• U.S. spot Bitcoin ETFs recorded $913 million in inflows on Tuesday, the highest single-day total since mid-January, signaling strong institutional demand.
• The cryptocurrency's market capitalization climbed to $1.86 trillion on Wednesday, briefly surpassing Google, Amazon, and Meta to become the fifth-largest global asset.
• Institutional interest surged with Cantor Fitzgerald announcing a $3 billion Bitcoin acquisition vehicle, supported by major contributions from Tether, Bitfinex, and SoftBank.
• The swearing-in of Paul Atkins as SEC chair has bolstered optimism for a more favorable regulatory environment for cryptocurrencies.