[News Brief] Apr 22, morning | Bitcoin (BTC) Breaks Above $78,000

Bitcoin (BTC) Breaks Above $78,000

According to PANews, Bitcoin (BTC) has broken above $78,000.

Based on OKX market data, Bitcoin traded at $78,010.90, up 2.02% over the past 24 hours.

U.S. Spot Bitcoin ETFs Return to Net Inflows After Three Consecutive Trading Days of Outflows

U.S. spot Bitcoin ETFs turned back to net inflows after recording net outflows for three consecutive trading days. As of April 30 (U.S. Eastern Time), total net inflows came to $14,757,800.

According to SoSoValue, Fidelity’s FBTC saw the largest inflow of the day, with $26,612,000 in net inflows. FBTC’s cumulative net inflows reached $10.869 billion.

BlackRock’s IBIT also posted net inflows of $19,053,800. IBIT’s cumulative net inflows were reported at $42,446,600.

Meanwhile, Valkyrie’s BRRR recorded the largest outflow of the day, with $8,621,800 in net outflows. BRRR’s cumulative net inflows stood at $336 million.

As of the time of reporting, the total net asset value of spot Bitcoin ETFs was $100.533 billion. The ratio of ETF net assets to Bitcoin’s total market capitalization was 6.56%, while cumulative net inflows were tallied at $58.088 billion.

U.S. spot Bitcoin ETFs had previously logged net outflows for three consecutive trading days. The shift back to net inflows is being interpreted as a notable sign that institutional capital flows have turned positive again.

Fed’s Logan Says She Does Not Agree That the Next Policy Adjustment Is Likely to Be a Rate Cut

[Source: PANews] Federal Reserve official Logan said she does not agree with the view that the next monetary policy adjustment is likely to be a rate cut.

Logan said both a rate cut and a rate hike remain possible for the next policy move, adding that forward guidance is an important policy tool.

Her remarks may be interpreted as a signal that weakens market expectations for an early rate cut.

Deribit Sees About $2.14 Billion in Crypto Options Expiring in One Day

According to Deribit data, about $2.14 billion worth of crypto options are set to expire in one day. Bitcoin options account for $1.74 billion in notional value, while Ethereum options account for $394 million.

According to the data, the put/call ratio for Bitcoin options is 1.10, with a max pain price of $76,000. Ethereum options have a put/call ratio of 0.95 and a max pain price of $2,325.

Bitcoin’s spot price has now reached the vicinity of its max pain level, while Ethereum is trading below that level. Short-term volatility around the options expiry date remains a key point of attention for the market.

President Trump Says He May Break the Ceasefire Agreement With Iran

President Trump said there may be a need to break the ceasefire agreement with Iran, and that he may actually do so.

According to Odaily, when asked about whether the ceasefire with Iran would be maintained, Trump said, “I don’t know if we need to break it. We may very well do that.” The remarks suggest a possibility of renewed geopolitical tensions in the Middle East.

Seoul Administrative Court Suspends Effect of Bithumb Business Suspension Sanction

The Seoul Administrative Court accepted Bithumb’s request for a stay of execution against South Korea’s Financial Intelligence Unit (FIU), suspending the effect of the six-month partial business suspension sanction until a final ruling is made in the main lawsuit.

As a result of the decision, Bithumb will be able to continue its existing business operations while the litigation proceeds. The sanction had restricted new users from withdrawing to external wallets.

The FIU had previously imposed a fine of KRW 36.8 billion on Bithumb, citing around 6.65 million violations including failure to fulfill customer due diligence obligations and transactions with unregistered virtual asset service providers, in alleged violation of the Specific Financial Information Act.

The court’s decision only suspends enforcement of the sanction until the final ruling, and the outcome of the main case will be decided later.

U.S. Spot Ethereum ETFs See Net Outflows for Four Consecutive Trading Days

U.S. spot Ethereum ETFs recorded net outflows for a fourth consecutive trading day. Total net outflows for the previous day were $23,642,600.

According to SoSoValue, the largest inflow came from BlackRock’s staking Ethereum ETF, ETHB, which recorded $29,103,800 in daily net inflows. ETHB’s cumulative net inflows reached $70,820,700.

Grayscale’s Ethereum Mini Trust ETF, ETH, also saw net inflows of $4,721,300. That product’s cumulative net inflows reached $1.93 billion.

Meanwhile, the largest outflow came from BlackRock’s ETHA. ETHA saw $50,573,900 leave in one day, bringing its cumulative net outflows to $143 million.

The total net asset value of spot Ethereum ETFs currently stands at $13.253 billion. The ratio of ETF net assets to Ethereum’s total market capitalization is 4.85%, while cumulative net inflows are $11.915 billion.

Coinbase to Launch Stablecoin Lending Fund CUSHY in Partnership With Superstate

Coinbase, in partnership with Superstate, plans to launch the stablecoin lending fund CUSHY and introduce a tokenized share class in the second quarter, according to PANews citing The Block.

According to the report, CUSHY is a fund that offers institutional investors exposure to lending strategies within the stablecoin ecosystem. It will be the first external fund issued through Superstate’s FundOS platform, with Northern Trust Hedge Fund Services handling administration.

The fund aims to generate returns through stablecoin lending and private credit opportunities. Tokenized equity interests can be used as collateral or transferred on compliant digital exchanges.

A Coinbase Asset Management executive described the fund as a product that combines the efficiency of digital assets with the disciplined operating practices of traditional lending markets.

Superstate had previously launched the USTB and USCC fund strategies through FundOS and has managed more than $1 billion in assets.

Crypto Industry Venture Funding Falls 74% Month-on-Month in April

Venture funding in the digital asset industry totaled $659 million in April, down 74% from $2.6 billion in March. This marked the lowest monthly figure since July 2024.

According to Cointelegraph citing CryptoRank, a total of 63 fundraising deals were completed in April, bringing the year-to-date total to $5.64 billion. By sector, DeFi protocols were the most active with 12 deals, followed by blockchain services and AI-related crypto projects.

Among investors, GSR was the most active. It participated in four deals, including the seed round for Legend Trade, while L1 Digital followed with three investments.

Monthly funding volumes have continued to decline since October 2025 amid weakening liquidity conditions. Over the same period, the total global crypto market capitalization fell by about 37%.

Fun Raises $72 Million in Series A Led by Multicoin Capital and SignalFire

According to Fortune, crypto transaction services firm Fun has raised $72 million in a Series A round led by Multicoin Capital and SignalFire.

Other participants in the round included Infinity Ventures, Parallaxes Capital, and Tinder co-founder Justin Mateen. The funding round was completed in January this year, with the details disclosed recently.

According to the report, Fun provides infrastructure for deposits and withdrawals between cryptocurrencies and fiat currencies on its platform. Users can transfer funds without going through an exchange or a bank.

Its major clients include prediction market platform Polymarket, crypto derivatives platform Lyra, and lending protocol Aave. The company is currently processing more than $18 billion in annualized payments.

CEO Alex Fine said he hopes Fun will become a gateway to the new economy as more fintech firms and new banks adopt tokens and stablecoins.