Key Highlights
- BTC surged past $69,000 for the first time in more than ten days amid escalating geopolitical tensions and Trump’s ultimatum to Iran
- Spot Bitcoin ETFs in the United States recorded $471 million in net inflows on April 6, marking the strongest daily performance since February
- IBIT from BlackRock and FBTC from Fidelity accounted for approximately $329 million of the total inflow activity
- Technical analysis reveals an ascending triangle formation suggesting potential upside momentum toward $77,000
- The percentage of Bitcoin supply in profit rebounded to 59% following a decline to 52% during late February
Bitcoin pushed through the $69,000 threshold on Monday, registering a 3% increase over a 24-hour period, driven by renewed institutional appetite through ETF channels and heightened geopolitical uncertainty.
On Sunday, President Donald Trump delivered a stark warning to Iran, declaring the nation would face severe consequences if the Strait of Hormuz remained closed beyond Tuesday at 8:00 pm Eastern Time. Tehran’s response indicated the waterway would remain blocked until Iran receives compensation for war-related damages.
CNBC characterized Trump’s approach as oscillating between diplomatic engagement and military threats. While traditional equity markets remained relatively unchanged on Monday, Bitcoin experienced notable upward momentum.
The futures market witnessed over $265 million in liquidations of short positions during the rally. Trading activity surged to double the normal volume within 24 hours, with market participants eyeing the psychologically significant $70,000 level.
The Crypto Fear and Greed Index climbed from 25 to 38, edging closer to neutral sentiment for the first time in several weeks. This movement indicates diminishing panic-driven selling related to conflict concerns.
Record-Breaking ETF Activity in April
According to data from Farside Investors, April 6 saw US spot Bitcoin ETFs attract $471 million in net inflows, representing the strongest single-day performance since the latter part of February. BlackRock’s IBIT captured approximately $182 million, while Fidelity’s FBTC secured roughly $147 million.
The collective assets under management for US spot Bitcoin ETFs currently stand at approximately $90 billion. BlackRock’s IBIT dominates with $54.5 billion in holdings, representing nearly 60% of the total market share. Aggregate net inflows across all products have reached an estimated $56 billion.
The opening quarter of 2026 demonstrated volatility in fund flows. January and February experienced roughly $1.8 billion in redemptions tied to Federal Reserve policy uncertainty. March witnessed a reversal with $1.3 billion returning as Bitcoin prices found stability.
Market observers note that these positive flows remain vulnerable to reversal if upcoming inflation figures exceed expectations. Attention is focused on Friday’s March Consumer Price Index release and Thursday’s February core Personal Consumption Expenditures data.
Technical Analysis Points to $77K Breakout Potential
Bitcoin’s daily price chart displays an ascending triangle configuration that has developed over recent weeks, characterized by progressively higher lows. This technical structure generally indicates accumulating buying interest.
The Relative Strength Index has climbed back above the 50 level, indicating strengthening bullish momentum. Technical analysts are monitoring for an RSI breakthrough above 60 as confirmation of sustained buying pressure.
Bitcoin’s supply held at profitable prices has recovered to 59% after temporarily dropping to 52% in the final days of February. Historical market cycles suggest that drops below the 50% threshold have historically presented accumulation opportunities for long-term holders.
As of publication, Bitcoin was valued at $68,714, based on CoinGecko pricing data.
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