Bitcoin price opened the week under pressure after U.S.-Iran peace talks in Islamabad failed and Washington moved to blockade maritime traffic entering or leaving Iranian ports.. Bitcoin fell from near $74,000 to around $70,500 as failed US-Iran talks in Islamabad sparked a wider risk-off reaction.
Oil prices jumped above $100, adding inflation concerns and fresh macro pressure. Even so, ETF inflows stayed firm, keeping the broader institutional outlook supportive for Bitcoin price.
Bitcoin price finds support as ETF demand returns
Even with that risk-off shock, the institutional flow picture did not break. The U.S. spot Bitcoin ETFs drew more than $786 million last week, their strongest weekly inflow since February. SoSoValue daily data also showed strong net creations on April 9 and April 10, reinforcing the idea that allocators kept buying into weakness.
BlackRock stayed at the center of those flows. The same weekly flow tally showed $612 million moving into iShares Bitcoin Trust, keeping IBIT in the lead among U.S. products. That matters because the Bitcoin price often reacts differently when macro fear hits but the largest ETF still absorbs supply in size.
Morgan Stanley added another institutional layer. As reported, the bank officially launched Morgan Stanley Bitcoin Trust, ticker MSBT, on April 8, and said the product charges a 0.14% sponsor fee, the lowest in the U.S. spot market at launch. According to reports, Morgan Stanley’s wealth arm has about 16,000 advisors, which gives the fund a large built-in distribution network.
That backdrop explains why the Bitcoin price did not stay pinned at the day’s lows. A macro scare can force fast liquidations, but steady ETF buying creates a visible bid underneath the market. It does not remove volatility, though it does change how deep each sell-off can run when institutional demand keeps refreshing.
For now, traders are watching the low $70,000s as the first area that must hold. The provided market note highlighted $70,500 to $71,000 as a near-term support zone and $72,000 to $73,000 as the next resistance band.
Simon Peters, Crypto Analyst at eToro, noted that markets were initially supported by news of a temporary two- week ceasefire. However, sentiment weakened following the failure of the US and Iran to reach a broader agreement, alongside escalating tensions after the US Navy’s move to blockade Iran’s ports.
“Geopolitical developments have reintroduced caution into the market after a brief period of optimism,” said Peters.
Looking ahead, investor attention is turning to upcoming US Producer Price Index (PPI) data, with markets assessing whether rising oil prices are beginning to filter through supply chains.
“A stronger-than-expected PPI reading could reinforce expectations that the Federal Reserve may keep rates higher for longer, or even consider further tightening, which could weigh on risk assets including crypto in the near term,”
Peters added. “Conversely, softer inflation data may support the disinflation narrative and help restore upward momentum in crypto markets.”
Ethereum lags while gold and silver lose ground today
Ethereum did not offer much relief. ETH traded near $2,197.8 after slipping to an intraday low of $2,179.9, which kept the second-largest crypto inside the same defensive tape as Bitcoin. That price action showed that altcoins were not ready to decouple from the broader macro shock.
Traditional havens also sent a mixed message. Gold and silver were no exceptions as increasing geopolitical tensions and a drastic increase in oil prices stimulated volatility on all global markets. Gold plummeted to lower than 4,700 per ounce and silver went to less than 75 as traders responded to poor global signals following the failure of US-Iran talks.
Increased energy prices have raised inflation expectations, though in the short-term they have burdened gold and caused silver to become more uncertain due to its connection to the needs of industry.
Despite that, the general framework of both metals is positive. Gold retains a bullish construction as long as it does not fall below key support, and silver is trading in a general uptrend, with support at around $72 probably playing a critical role in the next upswing.
Why the Bitcoin price outlook now hinges on oil markets
The next leg in Bitcoin price action may depend less on on-chain data and more on shipping lanes, tanker routes, and White House messaging. Trump vowed to intercept vessels paying tolls to Iran and to destroy Iranian sea mines, while tanker traffic near Hormuz already started to thin before the blockade took effect. Those signals keep the oil market in charge of the macro narrative.
That makes the present setup unusual. The Bitcoin price still has support from ETF demand, new Wall Street products, and continued institutional interest. At the same time, traders now have to price war risk, energy inflation, and the possibility that every fresh headline out of the Gulf can move crypto before U.S. cash equity trading even settles.