Key Highlights
- BTC surged past $69,000 for the first time in more than ten days amid heightened geopolitical tensions and Trump’s Iran ultimatum
- Spot Bitcoin ETFs in the United States attracted $471 million in net inflows on April 6, marking the strongest daily performance since February
- BlackRock’s IBIT and Fidelity’s FBTC dominated inflows, collectively capturing approximately $329 million
- Technical analysis reveals an ascending triangle formation on BTC charts, suggesting potential upside momentum toward $77,000
- The percentage of Bitcoin supply currently in profit bounced back to 59% following a decline to 52% during late February
Bitcoin surged beyond the $69,000 threshold on Monday, registering a 3% advance over a 24-hour span, driven by heightened geopolitical uncertainty surrounding the Strait of Hormuz and renewed institutional appetite through exchange-traded funds.
President Donald Trump delivered a stern warning to Iran over the weekend, declaring the nation would be “living in Hell” unless the strategic waterway was reopened by Tuesday evening at 8:00 pm ET. Iranian authorities countered that the strait would remain closed until the country receives compensation for war-related damages.
CNBC characterized Trump’s messaging as “vacillating” between diplomatic engagement and threats of potential military intervention. Even with the conflicting signals, traditional equity markets remained largely unchanged on Monday while Bitcoin experienced notable gains.
Futures market data revealed over $265 million in liquidated short positions during the upward price movement. Trading activity surged to double its normal 24-hour volume, with market participants eyeing a decisive breach above the $70,000 psychological barrier.
The Crypto Fear and Greed Index climbed from a bottom reading of 25 to 38, moving toward neutral ground for the first time in several weeks. This transition indicates a potential easing of panic-driven selling related to conflict concerns.
Record-Breaking Day for Bitcoin ETF Activity
April 6 witnessed US spot Bitcoin ETFs capturing $471 million in net inflows, representing the most substantial single-day accumulation since the final weeks of February, based on data from Farside Investors. BlackRock’s IBIT product secured roughly $182 million, while Fidelity’s FBTC attracted approximately $147 million.
Current holdings across all US spot Bitcoin ETFs total around $90 billion in aggregate assets. IBIT maintains dominant market share with $54.5 billion under management, representing nearly 60% of the entire sector. Cumulative net inflows across all products have reached an estimated $56 billion since inception.
The opening quarter of 2026 displayed volatility. January and February experienced approximately $1.8 billion in redemptions driven by Federal Reserve policy uncertainties. March reversed course with $1.3 billion in fresh capital as market conditions stabilized.
Market observers warn these positive flows could quickly evaporate if upcoming inflation figures exceed expectations. Investors are closely monitoring Friday’s March CPI data release and Thursday’s February core PCE report.
Technical Setup Indicates Potential Move to $77K
Bitcoin’s daily price chart displays an ascending triangle formation developing over recent weeks, characterized by progressively higher lows. This technical configuration generally indicates accumulating bullish pressure.
The Relative Strength Index has climbed back above the 50 midpoint level, indicating strengthening upward momentum. Technical analysts are monitoring for an RSI breakout above 60 as confirmation of sustained bullish sentiment.
Bitcoin’s supply held at a profit rebounded to 59% after temporarily dropping to 52% during late February. Should BTC fall beneath the 50% profit threshold, historical patterns indicate such levels have historically presented attractive entry points for long-term investors.
As of publication, Bitcoin was trading at $68,714, per CoinGecko data.
