Overview
- Bitcoin eased by roughly $100 to about $77,300 after President Trump on Friday canceled a planned trip by envoys Steve Witkoff and Jared Kushner to Pakistan for discussions involving Iran.
- Traders now focus on a tight range with support flagged near $76,000–$77,000 and heavy sell orders between $78,000 and $80,000, where about $2.25 billion in short positions could be forced to close if price breaks higher.
- Nine straight days of net inflows into spot bitcoin ETFs through April 24 brought in about $2.12 billion, with total net inflows since launch reported at roughly $58.23 billion, signaling steady institutional buying.
- Options positioning is growing on traditional exchanges, with BlackRock’s IBIT options open interest at $27.61 billion edging past Deribit’s $26.90 billion, a sign that more bets are outstanding on future bitcoin prices.
- Derivatives stress remains elevated after more than $600 million in bitcoin futures long positions were liquidated, and market commentary described the price dip as a modest reaction to geopolitical headlines rather than a shift in the broader trend.