On October 7, 2025, Bitcoin hit an all-time high of $124,000. By April 2026, however, it was trading around $68,000 — a decline of roughly 45% from that peak. War continues in the Middle East, US-China tariff negotiations remain deadlocked, and financial markets are gripped by a risk-off mood. Over the same period, gold kept climbing, reaching an all-time high of $5,393. It looks as though "gold works in a crisis" while "Bitcoin doesn't."
"Bitcoin fell. It really is a risky asset after all" — plenty of people probably think this.
But there is a strange fact here. Even at the most tense point of the Middle East situation, BlackRock's Bitcoin ETF recorded net inflows of $420 million in a single day. Spot ETFs accounted for 55% of average daily trading volume, with institutional buying absorbin...
