Key Highlights
- BTC surged past $69,000 for the first time in more than ten days amid geopolitical uncertainty and Trump’s Iran ultimatum
- Spot Bitcoin ETFs in the United States recorded $471 million in net inflows on April 6, marking the strongest performance since February’s end
- IBIT from BlackRock and FBTC from Fidelity dominated inflows, collectively attracting approximately $329 million
- Technical analysis reveals an ascending triangle formation suggesting a possible rally toward $77,000
- The percentage of BTC supply in profit rebounded to 59% following a decline to 52% in February’s final weeks
Bitcoin breached the $69,000 threshold on Monday, registering a 3% increase over a 24-hour period, propelled by heightened geopolitical tensions surrounding the Strait of Hormuz and renewed institutional appetite through exchange-traded funds.
On Sunday, President Donald Trump delivered a stark warning to Iran, declaring the nation would face severe consequences if the strategic waterway remained closed beyond Tuesday at 8:00 pm Eastern Time. Tehran’s response indicated the strait would remain blocked pending compensation for war damages.
According to CNBC’s coverage, Trump’s diplomatic approach has oscillated between constructive dialogue and aggressive military posturing. While traditional equity markets showed little movement on Monday, Bitcoin experienced notable upward momentum.
Futures market data revealed over $265 million in liquidated short positions as prices climbed. Daily trading volume approximately doubled during this timeframe, with market participants eyeing the psychological $70,000 resistance level.
The Crypto Fear and Greed Index demonstrated improvement, climbing from 25 to 38, nearing neutral sentiment for the first time in several weeks. This metric indicates potential stabilization following recent conflict-related selling pressure.
ETF Capital Flows Reach Monthly Peak
April 6 witnessed US spot Bitcoin exchange-traded funds capturing $471 million in net capital inflows, representing the most substantial single-session performance since February’s conclusion, per Farside Investors data. BlackRock’s IBIT secured approximately $182 million, while Fidelity’s FBTC garnered around $147 million.
Current holdings across US spot Bitcoin ETFs total approximately $90 billion in assets under management. BlackRock’s IBIT commands $54.5 billion individually, representing nearly 60% of the entire sector. Aggregate net inflows across all products have reached an estimated $56 billion.
The opening quarter of 2026 displayed volatility. January through February witnessed roughly $1.8 billion in capital departures amid Federal Reserve policy uncertainty. March delivered a $1.3 billion reversal as market conditions stabilized.
Market observers emphasize these positive flows remain vulnerable to inflation surprises. Critical upcoming data includes Friday’s Consumer Price Index report for March and Thursday’s core Personal Consumption Expenditures figure for February.
Technical Analysis Suggests $77K Objective
Bitcoin’s daily price chart demonstrates an ascending triangle configuration developing across recent trading sessions, characterized by progressively higher support levels. This technical structure typically indicates accumulating buying interest.
The Relative Strength Index has returned above the 50 midpoint, indicating strengthening bullish momentum. Technical analysts are monitoring for an RSI breakout above 60 as confirmation of sustained upward trend.
Bitcoin’s percentage of supply holding unrealized gains has recovered to 59% after temporarily declining to 52% during late February. Historical patterns indicate drops below the 50% level have historically presented accumulation opportunities during previous market cycles.
At the time of publication, Bitcoin was changing hands at $68,714, based on CoinGecko pricing data.
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