Overview
- Bitcoin, which spiked to roughly $75,000–$76,000 on Tuesday, reached its highest level since early February across major exchanges.
- The surge followed Tuesday’s weaker‑than‑expected U.S. producer‑price report and fresh signals of possible U.S.–Iran diplomacy, which pulled oil lower and drew investors back into riskier assets.
- Derivatives data show roughly $500 million to $660 million of forced liquidations over 24 hours, mostly short positions, which added fuel to the rally according to CoinGlass figures.
- U.S. spot Bitcoin ETFs drew about $786 million last week, with BlackRock’s iShares fund taking in roughly $612 million, while Morgan Stanley’s new MSBT posted modest early inflows.
- On‑chain firms report large wallets added about 30,000 BTC in March, yet traders highlight resistance near $76,000–$79,000 and the uncertain Iran ceasefire timeline as key tests for whether gains hold.