Wall Streets $292 billion risk-on rotation just created a new bullish setup for Bitcoin
Global equity funds pulled in over $15 billion in the week through Apr. 1, then $23.47 billion, $31.26 billion, and finally $48.72 billion in the week through Apr. 22. Global money-market funds simultaneously bled a $173.24 billion outflow in the week through Apr. 15, the biggest single-week exit from cash since at least September 2018. Together, the figures create a roughly $292 billion risk-on signal, combining $118 billion of global equity fund inflows across four weeks with a separate $173 billion weekly exit from cash. Coinbase and Glassnodes Q2 Institutional Outlook puts $BTCs daily return correlation with the Ss survey of 91 global investors, comprising 29 institutions and 62 non-institutions, conducted between Mar. 16 and Apr. 7. Among institutional respondents, 75% view Bitcoin as undervalued, while 61% of non-institutional crypto investors hold the same view. Only 7% of institutions and 11% of non-institutions see $BTC as overvalued. Those numbers describe a market where buyers of size still see room to the upside. Capital rotating into risk meets an asset that its most sophisticated holders still consider cheap, held by a market yet to rewire itself for euphoria. The on-chain picture $BTC supply moved within the last three months fell 37% during the first quarter, while supply that