Bitcoin’s (CRYPTO: $BTC) price rose 13% in April as the “crypto winter” that began last fall started to thaw.
The largest crypto by market capitalization registered back-to-back monthly gains and had its best performance in a year during April. It follows five consecutive down months that began after Bitcoin hit an all-time high of $126,000 U.S. in October of last year.
Ethereum (CRYPTO: $ETH), the second largest cryptocurrency, saw its price increase 8% in April, also its second up month in a row. Analysts say that capital is again flowing into cryptocurrencies as stocks rise and investors turn back to risk assets.
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Bitcoin also got a boost in April from exchange-traded funds (ETFs). Inflows to spot Bitcoin ETFs totaled $1.9 billion U.S. in April. BTC was trading at $78,500 U.S. late on the afternoon of May 1.
Here’s what else happened with cryptocurrencies over the past week:
Canada Proposes Ban On Crypto ATMs: Canada is proposing to ban crypto automated teller machines (ATMs) as incidents of fraud and money laundering rise across the country. The government of Canadian Prime Minister Mark Carney describes the machines as a “primary method” for defrauding victims and laundering money worldwide.
Hut 8 Sells Bonds To Finance A.I. Data Centres: Canada’s Hut 8 (NASDAQ: $HUT) is planning to raise $3.25 billion U.S. through a corporate bond sale as it looks to raise capital and fund its artificial intelligence (A.I.) data centre growth. The corporate bonds will mature in 2042 and will be used to finance a 245-megawatt data centre at the company’s Louisiana campus.
Crypto Godfather Says Bitcoin Has Further To Fall: Michael Terpin, an early Bitcoin investor who is known as the “Crypto Godfather,” says that BTC has further to fall and a new all-time high in 2026 is unlikely. Specifically, Tepin says that, despite its recent bounce, Bitcoin has not yet bottomed and is likely to drop as low as $57,000 U.S. by this October.
Polymarket Plans U.S. Return: Polymarket is reportedly in talks with regulators in Washington, D.C. about bringing its main prediction market back to the U.S. Management at Polymarket have been talking about re-entering the U.S. market after acquiring derivatives exchange QCEX. In 2022, Polymarket paid a $1.4 million U.S. fine, wound down its non-compliant markets, and agreed to prevent American users from accessing its prediction market.