Overview
- Bitcoin, which was turned back at $73,000 for a third attempt on Thursday, traded near $71,800 Friday in its strongest week of gains since the conflict began.
- A U.S.–Iran truce that boosted prices earlier in the week looks fragile as Tehran alleged U.S. breaches and the Strait of Hormuz stayed partly open, lifting oil back above $97.
- U.S. spot Bitcoin ETFs, which let investors buy shares backed by Bitcoin, pulled in $471.3 million Monday and about $1.3 billion in March, adding support without driving a breakout.
- On-chain data shows only about 59% of the circulating supply is in profit, a level near past downturns that suggests many buyers are underwater and may sell into rallies.
- Market strategists say momentum would likely strengthen only after a firm move above roughly $74,000–$75,000 and then $80,000, with this week’s short squeezes still failing to crack the $73,000 cap.