Bitcoin climbed above $69,000 on Monday, posting a 3% gain in 24 hours, as markets responded to escalating tensions around the Strait of Hormuz and fresh demand from ETF investors.
President Donald Trump issued an ultimatum to Iran on Sunday, warning the country would be “living in Hell” if the strait was not reopened by Tuesday at 8:00 pm ET. Iranian officials responded that the strait would stay blocked until Iran receives war damage compensation.
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
Trump’s rhetoric has been described by CNBC as “vacillating” between productive talks and threats of military action. Despite the mixed signals, US stock markets traded mostly flat on Monday while Bitcoin pushed higher.
Over $265 million in short positions were liquidated in the futures market during the move up. Trading volumes doubled in the 24-hour period, with bulls targeting a break above the $70,000 level.
The Crypto Fear and Greed Index rose from a low of 25 to 38, approaching neutral territory for the first time in weeks. This shift suggests some of the “war scare” selling pressure may be easing.
On April 6, US spot Bitcoin ETFs recorded $471 million in net inflows, the largest single-day figure since late February, according to Farside Investors. BlackRock’s IBIT took in roughly $182 million, while Fidelity’s FBTC added approximately $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
US spot Bitcoin ETFs now hold around $90 billion in total assets. IBIT alone accounts for $54.5 billion, or close to 60% of the market. Cumulative net inflows across all funds have reached an estimated $56 billion.
The first quarter of 2026 was uneven. January and February saw around $1.8 billion in outflows due to Federal Reserve concerns. March brought $1.3 billion back in as prices stabilized.
Analysts caution that these gains could reverse quickly if inflation data surprises to the upside. Markets are watching Friday’s March CPI release and Thursday’s February core PCE report closely.
Bitcoin’s daily chart shows an ascending triangle pattern forming over recent weeks, with a series of higher lows. This pattern typically signals rising buying 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 moved back above the midline, suggesting bullish momentum is building. Analysts are watching for the RSI to cross 60 as a confirmed buy signal.
Bitcoin’s supply in profit recovered to 59% after briefly falling to 52% in late February. If BTC were to dip below the 50% threshold, historical data suggests that has been a buying opportunity in past cycles.
At press time, Bitcoin was trading at $68,714, according to CoinGecko.
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