Weekly Recap Research 20 - 26 Apr 2026
For the week of April 20 - 26, 2026
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Weekly Recap Research
Bitcoin ETF inflows hit nearly $1 billion, pushing prices higher near $80,000, but still not past major resistance
The flow of funds from institutional investors remains the main driver of the Bitcoin market, with the latest data suggesting that the Bitcoin ETF has inflows of about $933 million, resulting in the price rising to test the level near $79,000 over the same period. However, despite the significant increase in buying power, the price has not been able to stand above the $80,000 level, as there is still continued selling pressure in the area. Such a case.
This situation reflects that even as institutional investor sentiment begins to recover, the market remains in the midst of a major resistance test, with price direction in the short term also depending on the continuity and strength of capital flows into the market.
Bitcoin Rebounds Above $76,000 Despite DeFi Shock
Bitcoin rebounded above $76,000, even as the crypto market as a whole faces pressure from a massive hacking event in the DeFi sector, triggered by a KelpDAO vulnerability that was attacked and lost around $293 million in assets, resulting in a chain impact to multiple protocols and causing capital value to flow out of the integrated DeFi system. Up to about $14,000 million over the same period
However, Bitcoin continues to show strength relative to other risk assets, with the price able to recover amid geopolitical tensions and volatility in the DeFi market. Reflecting Bitcoin's role as an asset that investors choose to hold during a period of heightened uncertainty, while the DeFi market continues to face confidence pressure and structural risks from the system. con conosciuto complessivo
Top Net flows
During the period of April 20—26, 2026, the flow of funds in the crypto market significantly reflected the turnover of assets, with funds continuing to flow into some of the main networks, such as Base, which had the highest inflows in the range of around $50—60 million, followed by Hyperliquid and Solana at levels of around $30—40 million, while Arbitrum, Ethereum and OP Mainnet had inflows. It is in the range of about 15—25 million dollars, reflecting investor interest in the network that continues to be active and activity on the system.
In contrast, some chains are clearly facing a sell-off, with EdgeX having peak cash outflows in the range of about $90—$100 million, while BNB Chain and Starknet have outflows in the range of around $20—$40 million. The overview shows that the market is still in a cautious state, with investors not increasing their overall investment weight but choosing to adjust their portfolios through migration. Funding to an asset or network that has a growing trend and has a more obvious supporting factor.
Fear & Greed Index
The Crypto Fear & Greed Index is one of the tools used to assess the outlook and sentiment of the crypto market, referring to scores ranging from 0 to 100 (0 stands for Extreme Fear or Extreme Fear and 100 stands for Extreme Greed).
The Fear & Greed index moves in a range of 25 to 45, clearly reflecting the market's lack of confidence. Earlier in the week, the index was in the Fear zone near level 25, before rising to the 40—45 range on April 23, following a recovery in the Bitcoin price that moved closer to the $78,000 level. However, the rally could not stand the level. Continued, and the index has weakened back to a range of about 30 at the end of the week, reflecting a profitable sell-off and investor hesitancy in the market.
The overall picture is consistent with market conditions that are still under pressure from macroeconomic factors, particularly tight liquidity trends and monetary policy uncertainty, making price recovery more likely in a temporary manner rather than a clear trend reversal. Despite some buying momentum, overall sentiment remains at a cautious level, reflecting that the market is still in an evaluation phase. Direction and need new support factors to build confidence in the next phase.
Bitcoin ETF Flow
The cash flow in the Bitcoin ETF reflects the ongoing recovery, with a net inflow of about $238.4 million on April 20, before slowing down noticeably on April 21, leaving only around $11.8 million. However, the buying force re-entered on April 22 and 23, at around $335.8 million and $223.3 million. Respectively, it reflects the rhythmic buying nature of institutional investors rather than continuous accumulation.
After such a period of recovery, the flow began to weaken, with only about $14.4 million in inflows on April 24, and the following period began to see some of the selling force returning to the market. The overall picture reflects that the market is still in a cautious state, despite some financial support in the period, not enough to clearly confirm the positive trend. The direction of the market still depends on the rhythm of capital flows and short-term environmental factors.
Ethereum ETF Flow
The cash flow in the Ethereum ETF continues to reflect an uneven recovery, with net inflows of around $67.8 million on April 20, before slowing down on April 21, remaining around $43.4 million, and accelerating again on April 22, at around $96.4 million. However, on April 23, there was a net selling force back. About $75.9 million, reflecting discontinuity in buying power and investor behavior that continues to focus on rhythmic exits rather than long-term holdings.
The overview suggests that even though Ethereum is beginning to regain some attention, investor sentiment remains at a cautious level, with inflows in some periods still unable to clearly offset the selling forces that occur in the next period, reflecting market conditions that are still waiting for new support factors, both in terms of liquidity and macroeconomic direction, resulting in Ethereum's long-term outlook. Short is still a swing move in a limited frame rather than entering a steady uptrend.
Important news:
Kelp DAO Loses $292 Million, Biggest DeFi Shock of 2026
Source:
https://www.chainalysis.com/blog/kelpdao-bridge-exploit-april-2026/
Note: This analysis is provided every Monday, so some articles may have data discrepancies.
Nota: Questo analisi è situato ogni monday, quindi alcuni parti del articolo possono contengono informazioni inaccurati
WARNING: CRYPTOCURRENCIES AND DIGITAL TOKENS ARE HIGHLY RISKY. YOU MAY LOSE YOUR ENTIRE INVESTMENT. PLEASE STUDY AND INVEST ACCORDING TO THE ACCEPTABLE LEVEL OF RISK.
Thank you for following.
J.P. Daniel
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