Crypto Market Recap: Bitcoin Soars Past US$94,000 as ETF Inflows Peak

Bitcoin and Ethereum price update

At the time of this writing, Bitcoin (BTC) was priced at US$94,294.96 and is up 4.4 percent in 24 hours. The day’s range has seen a low of US$89,896.28 and a high of US$94,320.19.

Bitcoin’s price movements on April 23.

Chart via TradingView.

Trade tension escalation between China and the US continues to drag on the crypto market.

Ethereum (ETH) is priced at US$1,794.62, a 9.7 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,641.13 and a high of US$1,815.85.

Altcoin price update

Solana (SOL) is currently valued at US$152.37, up 5.79 percent over the past 24 hours. SOL experienced a low of US$142.88 and peaked at $153.47.

XRP is trading at US$2.29, reflecting a 7.3 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$2.13 and reached its highest point at US$2.30.

Sui (SUI) is priced at US$2.91, showing an increaseof 25.5 percent over the past 24 hours. It achieved a daily low of US$2.37 and a high of US$2.97.

Cardano (ADA) is trading at US$0.7045, up 9.7 percent over the past 24 hours. Its lowest price on Wednesday was US$0.6483, with a high of US$0.7138.

Today’s crypto news to know

Bitcoin ETFs see US$936 million daily inflow as institutions flock to ‘digital gold’

U.S.-listed spot Bitcoin exchange-traded funds (ETFs) recorded their strongest day of inflows since January, pulling in a combined us$936 million on Tuesday (April 22) across ten issuers.

Leading the charge were Ark & 21Shares with US$267.1 million, Fidelityâ€s FBTC with US$253.8 million, and BlackRockâ€s IBIT adding US$193.5 million.

Over the past three days, total net inflows into Bitcoin ETFs have surpassed $1.4 billion, signaling renewed institutional confidence in crypto markets.Analysts attribute the momentum to persistent inflation, a weakening U.S. dollar, and growing fears over geopolitical instability, prompting investors to turn to Bitcoin as a hedge.

While still volatile, Bitcoin is increasingly being framed as “digital gold,â€� with ETF flows suggesting itâ€s becoming a staple in diversified portfolios.

This influx also reflects optimism that regulatory conditions are maturing, particularly in the US, where ETFs are rapidly gaining legitimacy among mainstream investors.

Bitcoin becomes 5th largest global asset, overtakes Google

Bitcoin has climbed to a market capitalization of US$1.86 trillion, overtaking Alphabet Inc (NASDAQ:GOOGL) (Google) to become the worldâ€s fifth-largest asset by market value.

The price of Bitcoin surged past US$94,000, helped by easing trade tensions between the US and China and renewed bullish sentiment across tech and risk-on assets.

This marks a symbolic milestone for the cryptocurrency, which has now outpaced several of the worldâ€s most valuable tech giants. Analysts point to Bitcoinâ€s increasing correlation with macroeconomic tailwinds—such as falling bond yields and speculative interest in risk assets—as drivers of the recent price action.

Its breakout relative to the Nasdaq also suggests growing investor confidence in crypto as a parallel to tech.

If Bitcoin maintains this trajectory, some believe it could soon challenge silverâ€s position as the fourth-largest global asset.

Trump backs crypto regulation, Trump Media eyes retail crypto products

President Donald Trump, during a public appearance at SEC Chairman Paul Atkins†swearing-in, called for regulatory certainty in the crypto industry and vowed to provide ‘clear rules of the road’ for digital asset innovation.

The statement coincides with Trump Media & Technology Groupâ€s announcement that it will partner with Crypto.com and Yorkville America Digital to launch retail investment products, including crypto-focused ETFs aligned with Trumpâ€s “America Firstâ€� platform.

The planned offerings aim to capitalize on the former presidentâ€s growing presence in the digital asset space, following prior ventures like Trump NFTs and crypto-affiliated partnerships.

While no official ETF filings have been submitted yet, the initiative signals Trumpâ€s commitment to making crypto a policy priority as part of his economic strategy.

Tesla reports US$951 million in Bitcoin holdings despite earnings miss

Tesla revealed it continues to hold $951 million worth of Bitcoin on its balance sheet, despite posting weaker-than-expected quarterly revenue of US$19.34 billion.

The automakerâ€s Bitcoin holdings, totaling 11,509 BTC, remained unchanged during the quarter, with no buy or sell activity recorded. This comes as Bitcoin’s price dipped from late December highs, impacting Teslaâ€s valuation of its digital asset portfolio under the new Financial Accounting Standards Board (FASB) rules.

These rules now require corporations to mark digital assets to market on a quarterly basis, increasing transparency but also exposing earnings to crypto market volatility.

Teslaâ€s crypto exposure, while relatively small compared to its core business, still makes it one of the top public holders of Bitcoin globally.