Bitcoin Leads April Recovery with $6B+ as Ethereum Lags in Demand, XWIN Research Finds
Japan-based crypto research firm XWIN Research has outlined a divide between Bitcoin and Ethereum. It argues that Aprils market rebound was driven largely by Bitcoin, not a broad crypto recovery. Key PointsBitcoin led Aprils crypto rebound, gaining 11.85% as Ethereum lagged with a 7.28% rise.XWIN says Bitcoins rally was due to strong U.S. institutional demand and ETF inflows.Ethereum showed weaker demand, with price gains mainly driven by reduced selling pressure.The report suggests capital is becoming more selective, favoring assets with clearer demand signals. Bitcoin Drives the Rebound According to the report, Bitcoin climbed from $68,219 to $76,306 in April, marking an 11.85% gain and briefly testing $79,500. In contrast, Ethereum rose from $2,103 to $2,256, a smaller 7.28% increase, with a weaker peak near $2,466. This gap, XWIN says, reflects bigger structural differences rather than simple price performance. Bitcoins recovery was backed by strong demand, particularly from U.S. institutional investors. A key indicator, the Coinbase Premium, moved back into positive territory, confirming renewed buying interest, including flows linked to spot ETFs. For instance, Michael Saylors Strategy acquired over 56,200 $BTC in April, investing over $4 billion in the market. Moreover, Bitcoin ETFs, led by BlackRock, invested over $1.197 billion in $BTC in the same month and have