PANews reported on April 8th that, according to Cryptopolitan, Coinbase Institutional issued a neutral outlook for the market in the second quarter, citing macroeconomic and geopolitical uncertainties, such as the conflict in Iran, which make forecasts highly unreliable. Coinbase cited a Bank of America fund manager survey, noting that cash holdings rose nearly one percentage point to 4.3% in a single month, the fastest accumulation rate in five years. Despite the recent three to four standard deviations drop in the S&P 500, Bitcoin only experienced a one-standard-deviation pullback, showing relative resilience. US spot Bitcoin ETFs recorded approximately $471 million in net inflows on April 6th, the strongest single-day performance in six weeks, with BlackRock IBIT leading the way. Institutional holdings have risen from 24% a year ago to approximately 38%, with hedge funds, pension funds, and others holding a combined total of over $40 billion. Morgan Stanley listed its Bitcoin ETF on the NYSE on April 8th, becoming the first major US bank to directly issue a spot Bitcoin ETF.