Bitcoin’s price rebounded to $77,000 this Friday, marking a significant recovery for April. The rally coincided with eased geopolitical tensions after US-Iran ceasefire talks and resulted in over $102 million in short position liquidations. Substantial net inflows into U.S. spot Bitcoin ETFs, including a large purchase by BlackRock, supported the move. The surge also positively impacted related stocks like MicroStrategy and Coinbase.
Bitcoin has steadily rebounded in price this April, with its price returning to $77,000 on Friday. The cryptocurrency climbed 1.8% after geopolitical developments reportedly eased tensions in the Strait of Hormuz.
This triggered a massive $102.93 million liquidation of short positions within 24 hours, strengthening the upward price move. U.S. spot Bitcoin ETFs also saw substantial net inflows this week, totaling over $186.03 million.
BlackRock’s IBIT was a leading participant, buying over $500 million in BTC. ETF inflows could be seen as a sign of what fund managers are feeling.
Bitcoin’s rally has positively impacted several crypto-focused U.S. stocks. MicroStrategy (MSTR) rose over 13% on Friday and 33% in the last five days.
Coinbase (COIN) shares rose over 5% Friday, while crypto miner MARA saw its shares rise around 3%. Bitcoin now faces its next major hurdle in the $84,000–$85,000 zone.
The immediate bullish case relies on holding above $75,000 and continued ETF inflows. Should sustained ETF buying continue, $80,000 could be the next target for the cryptocurrency.
