Bitcoin Nears $100K as Safe-Haven Demand and Crypto-Friendly Policies Rise

Bitcoin’s Safe-Haven Surge

The crypto market is ending April with a bang – Bitcoin is trading near the $95,000 mark, flirting with the long-awaited $100K milestone​coingape.com. Unlike past rallies, this surge comes as Bitcoin increasingly behaves like digital gold amid global turmoil. BlackRock’s head of thematics Jay Jacobs noted that central banks have been accelerating diversification into assets like gold and Bitcoin over the past few years​cointelegraph.com. Geopolitical fragmentation – from East-West tensions to war-driven financial sanctions – has underscored the appeal of unseizable, non-sovereign assets. “People are looking for those assets that will behave differently,” Jacobs explained, referencing significant inflows into both gold ETFs and Bitcoin in recent months​cointelegraph.com. In other words, big money is treating Bitcoin as a bona fide safe haven. Jacobs even called geopolitical fragmentation a “mega force” that will drive markets for decades​cointelegraph.com – implying Bitcoin’s hedge role could continue growing. BlackRock itself has applied to launch a spot Bitcoin ETF, underscoring that even the largest asset managers are embracing crypto.

Data backs up the narrative that Bitcoin is decoupling from stocks. While U.S. equities have wobbled amid inflation fears and policy uncertainty, BTC’s price has climbed steadily – acting “like the store of value that it is” according to observers. Market analysts point to events like the freezing of Russian central bank reserves in 2022 as wake-up calls; such moves have prompted countries like China to rethink dollar reserves in favor of alternatives. The result? Some central banks and institutions are quietly increasing their crypto exposure as an insurance policy. Bitcoin’s correlation with the S&P 500 is at multi-year lows, and its market dominance (share of total crypto market cap) is at the highest level since 2021. With BTC supply hitting new long-term holder highs, the stage is set for a potential supply crunch just as demand from both retail and institutions spikes.

Greed Returns to the Crypto Market

The mood across the cryptosphere has flipped bullish, even verging on euphoria in some corners. The Crypto Fear & Greed Index now reads Greed, at 61 – a big jump from 37 (Fear) just a week ago​x.com. (For context, the index languished in ‘Fear’ territory for most of last year.) Crypto forums and group chats that were ghost towns during the bear market are suddenly lively with bullish memes and FOMO. This reflects how quickly sentiment has improved as prices trend up. Bitcoin’s strong April performance – nearly 15% gains in the past week alone – has traders feeling a FOMO they haven’t felt since the last bull run. Google searches for “Bitcoin all-time high” are on the uptick, and crypto Twitter is buzzing with bold price targets again.

It’s not just sentiment – concrete developments show growing confidence. The Chicago Board Options Exchange (Cboe), a TradFi giant, is rolling out a new Bitcoin futures product tied to a FTSE Bitcoin Index on April 28​cointelegraph.com. This cash-settled futures contract, linked to a Bitcoin ETF index, underscores rising institutional demand for crypto exposure through regulated instruments. “Demand for crypto exposure continues to grow” and investors want “more capital-efficient ways” to get it, said Cboe’s head of derivatives​cointelegraph.com. Translation: Wall Street wants in on the action, and they’re building the on-ramps to do it. Meanwhile, crypto-focused funds have seen inflows for several consecutive weeks, and even altcoins are perking up in Bitcoin’s wake – a classic sign of broadening risk appetite.

Altcoins Lag But Follow

Notably, this rally has been led by Bitcoin – many alternative coins are only now starting to follow. Ether (ETH), for instance, is hovering around $1,800​coingape.com (still well below its ~$4,800 all-time high), and other large caps like Binance Coin and Solana are in the green but not parabolic. Some of the speculative fervor has spilled into smaller niches like meme coins and AI-related tokens (each enjoying their own mini-booms), indicating a broad risk-on environment across crypto. The fact that money is rotating beyond Bitcoin suggests growing confidence, but also warrants caution – when everything starts pumping, seasoned traders watch for overheated conditions.

Of course, crypto veterans often joke that “extreme greed” is when you should start getting nervous. After such a rapid run-up, a pullback would be healthy and unsurprising. But for now, the bulls clearly have the upper hand, and dip-buyers stand ready to pounce on any weakness. The difference in 2025 is that Bitcoin’s narrative is more robust – it’s not just tech speculation, it’s also a macro hedge. That foundational bid from long-term holders and institutions could make this rally more resilient than past ones.

Regulators Soften Their Stance (Finally)

In a plot twist few saw coming a year ago, U.S. regulators appear to be warming up to crypto – or at least, cooling the crackdowns. The SEC, once crypto’s arch-nemesis under previous leadership, has a new chairman, Paul Atkins, who is notably more industry-friendly​cointelegraph.com. Crypto entrepreneurs and investors cheered his appointment; even Bitcoin mega-bull Michael Saylor weighed in that “SEC Chairman Paul Atkins will be good for Bitcoin”​cointelegraph.com. Already, the change in tone is evident. This week, crypto lending platform Nexo announced it is re-entering the U.S. market after having fled in late 2022 amid regulatory pressure​cointelegraph.com​cointelegraph.com. At Nexo’s re-launch event, Donald Trump Jr. made a surprise appearance, proclaiming “crypto is the future of finance” and that he wants to “ensure we bring that back to the US”​cointelegraph.com. (Yes, you read that right – a Trump is hyping crypto.) It’s a stark contrast to the atmosphere of fear during last year’s “Operation Chokepoint 2.0” when banks were cutting off crypto clients and the SEC was slapping lawsuits left and right.

Industry insiders say this shift comes as the new administration in Washington has altered the power balance. Policymakers realize they risk driving innovation (and tax revenue) offshore if they don’t accommodate the crypto industry. There’s talk of clearer guidelines for exchanges and token issuers on the horizon, and major enforcement actions have paused for now. Even inside the SEC, changes are afoot – Coinbase is petitioning to overturn a rule that banned SEC staff from trading or holding cryptocurrencies​cointelegraph.com, a sign that crypto is becoming less taboo in regulatory circles. It feels, dare we say, like the start of a détente between crypto and D.C.

Global Developments and Adoption

Beyond the U.S., other nations are also pivoting toward a more crypto-friendly stance – or at least establishing ground rules instead of blanket bans. The Bank of Ghana announced plans to introduce crypto regulations by September 2025​x.com. This move by Ghana’s central bank aims to balance curbing scams with encouraging innovation, and it mirrors broader trends in Africa where interest in Bitcoin and stablecoins for payments is booming. In the Middle East, the UAE’s Dubai hub is actively courting crypto firms via its VARA regulatory framework, and Japan has eased token listing rules to revitalize its market. In the EU, the comprehensive MiCA regulatory framework is slated to take effect soon, providing unified rules across member states. And in Asia, jurisdictions like Hong Kong are re-opening their doors to retail crypto trading under new licensing regimes after years of restrictions.

The common thread is that policymakers are under pressure not to miss out on the benefits of blockchain and digital assets. Completely stifling the sector is increasingly seen as impractical, especially as other countries forge ahead. Instead, we’re seeing a grudging acceptance: set some rules, crack down on fraud, but let the innovation play out. Even the IMF and G20 have shifted from discussing outright bans to promoting coordinated global regulation and oversight.

For crypto believers, these shifts are vindication of a sort. After years of being treated as renegades or pariahs, the industry is finally earning (begrudging) acknowledgment from the powers that be. The journey is far from over – plenty of skeptics remain, and regulations will evolve – but the trajectory is positive. As one crypto pundit quipped, “First they ignore you, then they fight you, then… they regulate you.” That seems to be where we are now, and for once, that’s good news.