Bitcoin Price Prediction: $358M ETF Surge Drives BTC Into Channel Resistance As Ceasefire Hangs In Balance
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BTC $71,666 (Apr 10), -0.18%; this week's ~8% rally pushed price into the descending channel's upper boundary and Supertrend resistance at $74,017 — channel has capped rallies since the Oct peak near $128,000. Bitcoin spot ETFs saw $358M inflows on Apr 9, led by BlackRock IBIT $269.34M; total ETF net assets $93.24B, signaling continued institutional funding and crypto adoption. Geopolitical risk remains elevated: Iran ceasefire fragile, Strait of Hormuz closed and US–Iran talks scheduled — trader caution could cap gains and impact CEX liquidity and market security.
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- BTC trades at $71,666, down 0.18%, pressing the descending channel’s upper boundary with Supertrend resistance at $74,017.
- Bitcoin spot ETFs pulled $358M on April 9, led by BlackRock’s IBIT at $269.34M, pushing total net assets to $93.24B.
- Bybit’s analyst calls the Iran ceasefire fragile, with the Strait of Hormuz still shut and US-Iran talks scheduled for Saturday.
BTC trades at $71,666 on April 10, pressing into the descending channel’s upper boundary for the first time since October as $358M in ETF inflows land alongside trader caution over whether the Iran ceasefire survives the weekend.
BTC Daily Chart: Channel Upper Boundary Meets The Supertrend At $74,017
The descending channel from the October peak near $128,000 has held every rally for six months. This week’s 8% move pushes price directly into the upper bo…
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