La rotation du risque de 292 milliards de dollars à Wall Street vient de créer une nouvelle configuration haussière pour Bitcoin
Burns Brief
Les fonds d'actions mondiales ont récolté plus de 15 milliards de dollars au cours de la semaine d'avril. Le sentiment du marché est devenu positif, les traders et les analystes soulignant un potentiel de dynamique de suivi au cours des prochaines séances. Surveillez la réaction de $ BTC $ ETH – un mouvement décisif au-dessus ou en dessous des niveaux clés confirmera la prochaine tendance.
Global equity funds pulled in over $15 billion in the week through Apr. 1, then $23.47 billion, $31.26 billion, and finally $48.72 billion in the week through Apr. 22. Global money-market funds simultaneously bled a $173.24 billion outflow in the week through Apr. 15, the biggest single-week exit from cash since at least September 2018. Together, the figures create a roughly $292 billion risk-on signal, combining $118 billion of global equity fund inflows across four weeks with a separate $173 billion weekly exit from cash. Coinbase and Glassnode's Q2 Institutional Outlook puts BTC's daily return correlation with the S&P 500 at 0.58 in the fourth quarter of 2025, while its relationship with gold stays negligible . When capital flows toward risk, it flows toward the asset class Bitcoin currently behaves like. Global equity funds attracted $48.72 billion in the week through April 22 while money-market funds shed a record $173.24 billion the prior week. The more pointed detail comes from Coinbase's survey of 91 global investors, comprising 29 institutions and 62 non-institutions, conducted between Mar. 16 and Apr. 7. Among institutional respondents, 75% view Bitcoin as undervalued, while 61% of non-institutional crypto investors hold the same view. Only 7% of institutions and 11% of non-institutions see BTC as overvalued. Those numbers describe a market where buyers of size still see room to the upside. Capital rotating into risk meets an asset that its most sophisticated holders still consider cheap, held by a market yet to rewire itself for euphoria. The on-chain picture BTC supply moved within the last three months fell 37% during the first quarter, while supply that had not moved for more than a year rose 1%. Speculative holders who bought at higher prices cycled out through the drawdown, and long-duration holders accumulated. The Puell Multiple fell to 0.7 in the first quarter, implying miner revenue ran about 30% below its one-year baseline, a zone that has histo
Key Takeaways
- Global equity funds pulled in over $15 billion in the week through Apr
- Global money-market funds simultaneously bled a $173
- 15, the biggest single-week exit from cash since at least September 2018
- Together, the figures create a roughly $292 billion risk-on signal, combining $118 billion of global equity fund inflows across four weeks with a separate $173 billion weekly exit from cash
- Coinbase and Glassnode's Q2 Institutional Outlook puts BTC's daily return correlation with the S&P 500 at 0