Key Highlights
- BTC surged past $69,000 for the first time in more than 10 days following Trump’s ultimatum to Iran with a Tuesday deadline
- Spot Bitcoin ETFs in the United States recorded $471 million in net inflows on April 6, marking the highest single-day influx since February
- IBIT from BlackRock and FBTC from Fidelity dominated ETF activity, attracting approximately $329 million collectively
- Technical analysis reveals an ascending triangle formation on BTC charts, suggesting a potential rally toward $77,000
- The percentage of Bitcoin supply in profit rebounded to 59% from a February low of 52%
Bitcoin surged beyond $69,000 on Monday, registering a 3% increase over 24 hours, driven by heightened geopolitical tensions surrounding the Strait of Hormuz and renewed institutional appetite through ETF channels.
On Sunday, President Donald Trump delivered a stark warning to Iran, threatening consequences if the strategic waterway remains closed beyond Tuesday at 8:00 pm ET. Iranian authorities countered that access would only be restored upon receipt of war damage reparations.
BREAKING: President Trump might delay his Tuesday 8 PM ET deadline on Iran “if he sees a deal is coming together,” per Axios.
This would mark the 5th time President Trump has delayed his ultimatum.
— The Kobeissi Letter (@KobeissiLetter) April 7, 2026
CNBC characterized Trump’s approach as oscillating between diplomatic engagement and military threats. Traditional equity markets showed minimal movement on Monday, while Bitcoin experienced notable upward momentum.
The futures market witnessed over $265 million in short position liquidations during the price surge. Trading activity doubled within the 24-hour window, with market participants eyeing the critical $70,000 resistance level.
The Crypto Fear and Greed Index climbed from 25 to 38, nearing neutral territory for the first time in several weeks. This movement indicates diminishing panic-driven selling related to geopolitical concerns.
Spot Bitcoin ETFs Register Strongest Monthly Inflows
US spot Bitcoin ETFs attracted $471 million in net inflows on April 6, representing the most substantial single-day accumulation since late February, per Farside Investors data. BlackRock’s IBIT captured approximately $182 million, while Fidelity’s FBTC secured around $147 million.
According to SoSoValue data, on April 6 (ET), Bitcoin spot ETFs recorded a total net inflow of $471 million; Ethereum spot ETFs saw a total net inflow of $120 million, with none of the ten ETFs recording net outflows. pic.twitter.com/5AO9Bg9xjZ
— Wu Blockchain (@WuBlockchain) April 7, 2026
The aggregate assets under management for US spot Bitcoin ETFs currently stand at approximately $90 billion. IBIT maintains dominance with $54.5 billion, representing nearly 60% of total market share. Cumulative net inflows across all products have reached an estimated $56 billion.
The opening quarter of 2026 displayed volatility. January and February experienced roughly $1.8 billion in outflows amid Federal Reserve policy uncertainties. March witnessed a reversal with $1.3 billion returning as market conditions stabilized.
Market observers warn that momentum could shift rapidly depending on inflation metrics. Attention is focused on Friday’s March CPI figures and Thursday’s February core PCE data release.
Technical Analysis Indicates $77K Price Objective
Bitcoin’s daily chart displays an ascending triangle formation developing over recent weeks, characterized by progressively higher lows. This technical pattern traditionally indicates accumulating buy-side pressure.
$BTC has broken out of its downtrend.
A daily close above the $70,000 zone means Bitcoin could rally towards $75,000 this month. https://t.co/3tRcfF8023 pic.twitter.com/JwowE7mtgX
— Ted (@TedPillows) April 6, 2026
The Relative Strength Index has climbed back above the 50 midpoint, indicating strengthening bullish momentum. Technical analysts are monitoring for an RSI breakthrough above 60 as confirmation of continued upward movement.
Bitcoin’s supply held in profit climbed back to 59% after temporarily declining to 52% in late February. Historical patterns indicate that drops below the 50% mark have historically presented accumulation opportunities.
As of publication, Bitcoin was trading at $68,714, based on CoinGecko data.
