Bitcoin (BTC) saw a rise of 0.72% on April 3, closing at $66,062, influenced by positive US economic data and BTC-spot ETF flows on April 2 and 3. Looking forward, investors should monitor BTC-spot ETF market trends, US legislative discussions, and Federal Reserve statements for potential impacts on Bitcoin's performance.

BTC's Positive Movement and Factors at Play

On April 3, Bitcoin's price increased by 0.72%, reversing a previous 5.95% decline. This uptick was supported by favorable US economic indicators, including a notable rise in ADP nonfarm payrolls, despite a slight drop in the US ISM Services PMI for March. Federal Reserve Chair Powell's remarks on potential interest rate adjustments also contributed to BTC's gains.

Influence of BTC-Spot ETF Market

The BTC-spot ETF market played a significant role in shaping investor sentiment towards Bitcoin. Notable movements were observed in various ETFs on April 2 and 3, with shifts in net inflows and outflows impacting market dynamics.

Market Insights and Outlook

On April 2, iShares Bitcoin Trust (IBIT) saw net inflows, while Grayscale Bitcoin Trust (GBTC) and ARK 21Shares Bitcoin ETH (ARKB) experienced outflows. The market recorded net inflows of $40.3 million. On April 3, continued net inflows were anticipated, with various ETFs showing mixed trends, potentially influencing buyer demand for BTC and the broader crypto market.

Price Analysis and Future Trends

BTC maintained a bullish stance above key moving averages, with potential resistance levels at $67,500 and $69,000. A breach of $65,000 could signal a shift in market sentiment. Investors should also track Federal Reserve updates and SEC activities for market cues.

Ethereum (ETH) Market Overview

ETH remained below the 50-day EMA but above the 200-day EMA, indicating mixed short-term signals and long-term bullish potential. Price targets for ETH include resistance levels at $3,480 and $3,650, with support at $3,244 and $3,033. Monitoring ETH- ETF discussions and RSI readings can provide insights into future price movements.

By staying informed about market trends, regulatory developments, and key economic indicators, investors can make more informed decisions regarding their cryptocurrency investments.