Market Updates: BTC Weakens Amid Negative Shift in Coinbase Premium Index, Bitwise CIO Ties BTC Gains to Strategy Purchases, Paul Tudor Jones Calls Bitcoin Top Inflation Hedge Asset

Latest Market Updates: As of 29th April 2026.

In today’s crypto market update, the Coinbase Premium Index has slipped into negative territory for the first time in three weeks, signaling softer U.S. demand as Bitcoin struggles to sustain its recent upward momentum.

Meanwhile, Bitwise CIO notes that the latest price rally was largely driven by aggressive accumulation from Strategy.

On the macro side, investor Paul Tudor Jones reiterated his stance that Bitcoin remains a stronger inflation hedge than gold, pointing to its fixed supply as a key advantage.

At the same time, Block, Inc. continues to expand its exposure, with Bitcoin holdings now approaching 9,000 BTC following its latest Q1 purchase.

BTC Weakens Amid Negative Shift in Coinbase Premium Index 

The Bitcoin Coinbase Premium Index has slipped to -0.008, marking its first negative reading in three weeks. This metric is widely used as a proxy for U.S. spot market demand, and its decline suggests that American buying pressure has recently eased.

The shift comes as Bitcoin struggles to maintain its recent upward trajectory. At the time of writing, BTC is trading around $77,041, down 1.2% over the past week.

According to crypto analyst Ardi, Bitcoin has recently broken below a rising trendline and lost the $77,300 liquidity zone, both key technical levels. In addition, he highlighted that similar sustained negative premium readings last appeared when BTC traded near $67,000. This observation points to a shift in market sentiment compared to earlier accumulation phases.

Looking ahead, Ardi expects volatility to remain elevated around the upcoming Federal Open Market Committee (FOMC) meeting. He identifies the $74,500–$75,500 range as a potential downside target if demand continues to weaken.

Bitwise: Strategy Drives Recent Bitcoin Rally

Despite short-term weakness, institutional activity continues to play a major role in supporting Bitcoin’s broader trend.

According to Bitwise CIO Matt Hougan, much of the recent rally has been driven by sustained buying from Strategy. In fact, the firm has accumulated approximately $7.2 billion in Bitcoin over the past eight weeks. This wave of corporate demand has contributed to a 20% recovery from February lows.

Between April 20 and April 26 alone, Strategy acquired 3,273 BTC, worth roughly $255 million, bringing its total holdings to 818,334 BTC. This cements its position as the largest publicly listed corporate Bitcoin holder.

Broader institutional demand also remains supportive. Bitcoin ETFs have attracted around $3.8 billion in inflows since March, while long-term holders have resumed accumulation.

Over the past week, BTC has traded between $75,849 and $79,321, according to CoinGecko, and stood at approximately $76,486 on Wednesday, up 21% from its February 6 low of $62,822.

Paul Tudor Jones Calls Bitcoin the ‘Best Inflation Hedge’

Billionaire investor Paul Tudor Jones recently reaffirmed his long-held view that Bitcoin is a superior inflation hedge compared to gold.

Specifically, speaking on the Invest Like the Best podcast, Jones pointed to Bitcoin’s fixed supply cap as its key structural advantage. He argues that it avoids the long-term dilution risks inherent in fiat-linked or commodity-based assets.

He also referenced the post-2020 monetary expansion period. During that time, aggressive stimulus measures fueled inflation concerns and increased demand for scarce assets like Bitcoin.

In his view, Bitcoin emerged as one of the strongest performers in that environment, reinforcing its growing role in macro investment strategies.

Block Expands Bitcoin Holdings Toward 9,000 BTC

Meanwhile, corporate adoption continues to deepen, with Block, Inc. reporting additional Bitcoin purchases in Q1 2026.

The Jack Dorsey-led company acquired 114 BTC, bringing its total holdings to nearly 9,000 BTC, valued at over $694 million. This follows its previous year-end position of 8,883 BTC, showing steady accumulation.

When including customer custodial assets, Block is associated with approximately 28,355 BTC, worth around $2.2 billion.

The company emphasized that its proof-of-reserves dashboard provides a point-in-time snapshot rather than a full solvency audit. However, it plans to release regular third-party verification reports.

Block has also published wallet addresses and cryptographic signatures, enabling public verification of holdings without exposing private keys.