In the past month, spot Bitcoin ETFs have attracted $131.04 million, contributing to a total gain of $2.4 billion since the start of the year, indicating robust investment interest.

This strong investment interest is bolstered by resilient holdings from spot Bitcoin ETF investors and aggressive buying by Michael Saylor's firm, Strategy.

Balchunas emphasized that Bitcoin ETF investors possess 'stronger hands' than many realize, which could lead to increased stability and reduced volatility moving forward.

Bloomberg ETF analyst Eric Balchunas noted that both ETFs and Saylor's firm have been absorbing market sell-offs from various sources, including fallout from FTX and government confiscations.

Market analysts have expressed surprise at Bitcoin's strength, especially in comparison to the declining S&P 500 index.

Bitcoin's stable price movements amid macroeconomic uncertainty are attributed to the strong holdings from spot Bitcoin ETF investors.

On April 14, 2025, Strategy purchased 3,459 BTC for $285.5 million at an average price of $82,618 per coin, increasing their total holdings to 531,644 BTC.

Despite recent market fluctuations, Bitcoin has shown resilience, remaining above its all-time high and reflecting a stable ownership base that may reduce volatility in the long term.

Over the past month, Bitcoin's trading range fluctuated between $75,000 and $88,000, influenced by macroeconomic factors such as tariffs imposed by US President Donald Trump.

Currently, Bitcoin is trading at $84,610, maintaining a price above its previous all-time high of $73,679, while the Bitcoin Volatility Index stands at a low 1.80%.

The current low volatility, as indicated by the Bitcoin Volatility Index, suggests that Bitcoin's price movements have been relatively stable over the past month.

This combination of strong investment interest and stable ownership may position Bitcoin favorably against future market fluctuations.