Bitcoin has steadily rebounded in price this April, with its price on Friday returning to $77,000. After news of Iran reportedly reopening the Strait of Hormuz, crypto responded well, with the king cryptocurrency climbing 1.8%. In the last seven days, BTC is up 6%, and is up a further 8% in the last 30 days.
Bitcoin surged as US-Iran ceasefire talks temporarily eased tensions in the Strait of Hormuz, reversing prior risk-off sentiment. This triggered a massive $102.93 million liquidation of short positions in 24h, strengthening the upward move. Additionally, U.S. spot Bitcoin ETFs saw substantial net inflows this week, totaling over $186.03 million. BlackRock’s IBIT was a leading whale, buying over $500M in BTC. ETF inflows could be seen as a sign of what fund managers are feeling. BlackRock’s latest half-billion purchase could be seen as a bullish outlook from the world’s largest asset manager.
Furthermore, Bitcoin’s rally has also positively impacted several crypto-focused US stocks. Strategy (MSTR), a leading institutional investor in BTC, is up over 13% on Friday and 33% in the last five days. In addition, Coinbase (COIN) shares also rose over 5% Friday, while crypto miner MARA saw its shares rise around 3%.
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Bitcoin (BTC) could very much sustain its rally after breaching the $77,000 price level. There seems to be very little demand above current resistance levels, as it appears this level is the average price of a large number of holders. The next major hurdle is the $84,000–$85,000 zone (200-day EMA & 61.8% Fib extension). The immediate bullish case relies on holding above $75,000 and continued ETF inflows. Should sustained ETF buying continue, $80,000 could be next, a price BTC hasn’t seen since January 2026.