Bitcoin Hits $70,000: Institutional Investors Pile In Amid ETF Boom

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<a href="https://jpykr.com/btc-usd/">Bitcoin</a> briefly touches $70,000 as ETF inflows signal institutional interest

What to know:

By Francisco Rodrigues (All times ET unless indicated otherwise)

Bitcoin and other cryptocurrencies experienced fluctuating prices on Tuesday. Bitcoin briefly reached $70,000 following news of a potential ceasefire proposal in Iran.

The recent pause in price increases follows a day of strong investment into bitcoin exchange-traded funds (ETFs) – the largest inflows since late February. Despite ongoing economic concerns, the continued demand for these ETFs suggests investors view the current price dip as a good chance to buy more bitcoin.

A recent Binance Research report revealed that the relationship between Bitcoin’s price and the monetary policies of 41 central banks became significantly negative after the launch of spot Bitcoin ETFs. This suggests that money flowing into Bitcoin through these ETFs isn’t reacting to current policy, but rather anticipating future changes. Essentially, institutional investors seem to be buying Bitcoin in expectation of upcoming interest rate cuts or other easing of monetary policy.

Bitfinex Alpha reports the market is currently moving within a limited price range, but it’s a precarious situation. There’s not much natural buying interest, companies are purchasing less, and options trading suggests increasing concern about a potential price drop below $68,000, as investors try to protect themselves from losses.

As a researcher, I’m continuing to monitor macro pressures, and oil prices are a key factor. Currently, Brent crude is staying above $110 per barrel. A lot of this is driven by ongoing concerns about the Strait of Hormuz – specifically, the deadline set by former U.S. President Trump for reaching an agreement regarding its access, which is keeping investors nervous.

Because energy prices are going up and likely to cause inflation, most experts don’t expect the Federal Reserve to cut interest rates anytime soon. Important inflation numbers will be released later this week, so it’s worth paying close attention.

What to Watch

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.

  • Crypto
    • Nothing scheduled.
  • Macro
    • April 7, 07:15 a.m.: U.S. ADP Employment Change Weekly (est. 10K)
    • April 7, 7:30 a.m.: U.S. Durable Goods Orders MoM for February est 04% (Prev. 0%)
    • April 7, 11:35 a.m.: Chicago Fed President and CEO Austan Goolsbee to participate in a conversation on economic and monetary policy.
  • Earnings (Estimates based on FactSet data)
    • Nothing scheduled.

Token Events

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.

Conferences

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.

  • Nothing scheduled.

Market Movements

  • BTC is down 0.98% from 4 p.m. ET Monday at $69,149.83 (24hrs: -1.05%)
  • ETH is down 0.98% at $2,128.41(24hrs: -1.31%)
  • CoinDesk 20 is down 1.13% at 1,946.75 (24hrs: -1.59%)
  • Ether CESR Composite Staking Rate is up 4 bps at 2.74%
  • BTC funding rate is at 0.0049% (5.3327% annualized) on Binance

  • DXY is down 0.15% at 99.83
  • Gold futures are unchanged at $4,688.40
  • Silver futures are down 0.3% at $72.63
  • Nikkei 225 closed unchanged at 53,429.56
  • Hang Seng closed down 0.70% at 25,116.53
  • FTSE is up 0.33% at 10,470.51
  • Euro Stoxx 50 is up 0.98% at 5,748.35
  • DJIA closed on Monday up 0.36% at 46,669.88
  • S&P 500 closed up 0.44% at 6,611.83
  • Nasdaq Composite closed up 0.54% at 21,996.34
  • S&P/TSX Composite closed up 0.22% at 33,181.97
  • S&P 40 Latin America closed up 0.12% at 3,656.10
  • U.S. 10-Year Treasury rate is down 1 bps at 4.325%
  • E-mini S&P 500 futures are unchanged at 6,657.25
  • E-mini Nasdaq-100 futures are unchanged at 24,373.50
  • E-mini Dow Jones Industrial Average Index futures are up 0.16% at 46,976.00

Bitcoin Stats

  • BTC Dominance: 59.04% (-0.08%)
  • Ether-bitcoin ratio: 0.03077 (0.54%)
  • Hashrate (seven-day moving average): 951 EH/s
  • Hashprice (spot): $31.40
  • Total fees: 2.18 BTC / $151,084
  • CME Futures Open Interest: 117,120 BTC
  • BTC priced in gold: 14.8 oz.
  • BTC vs gold market cap: 4.6%

Technical Analysis

  • The chart shows bitcoin’s dollar price in weekly candle for the past several years.
  • The measure is still trading around the 200-week exponential moving average of $68,317 while the RSI continues to grind up after bottoming out at 27 a few weeks ago.
  • With no clear bearish RSI divergences, the next core level to monitor is $73,000 for any confirmed upward momentum

Crypto Equities

  • Coinbase Global (COIN): closed on Monday at $174.79 (+1.94%), -0.56% at $173.82 in pre-market
  • Circle Internet (CRCL): closed at $92.15 (+2.09%), +0.18% at $92.32
  • Galaxy Digital (GLXY): closed at $18.28 (+3.63%), +0.11% at $18.30
  • Bullish (BLSH): closed at $37.35 (+2.69%), unchanged in pre-market
  • MARA Holdings (MARA): closed at $8.85 (+1.61%), -0.55% at $8.80
  • Riot Platforms (RIOT): closed at $13.52 (+5.13%), -0.52% at $13.45
  • Core Scientific (CORZ): closed at $16.29 (+0.37%), -0.18% at $16.26
  • CleanSpark (CLSK): closed at $9.10 (+3.53%), -0.33% at $9.07
  • CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $36.70 (+2.63%)
  • Exodus Movement (EXOD): closed at $6.33 (+3.77%), +0.63% at $6.37

Crypto Treasury Companies

  • Strategy (MSTR): closed at $127.69 (+6.56%), -0.71% at $126.79
  • Strive (ASST): closed at $10.12 (+3.79%), +0.30% at $10.15
  • SharpLink Gaming (SBET): closed at $6.38 (+3.07%), +0.12% at $6.39
  • Upexi (UPXI): closed at $1.01 (+3.59%), -0.99% at $1.00
  • Lite Strategy (LITS): closed at $1.14 (+1.79%)

ETF Flows

Spot BTC ETFs

  • Daily net flows: $471.4 million
  • Cumulative net flows: $56.41 billion
  • Total BTC holdings ~1.29 million

Spot ETH ETFs

  • Daily net flows: $120.2 million
  • Cumulative net flows: $11.63 billion
  • Total ETH holdings ~5.68 million

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2026-04-07 14:19