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Bitcoin is currently trading around $75,000 in a context marked by renewed tensions between the United States and Iran, which have shaken oil and equity markets. Despite this geopolitical instability, the cryptocurrency has shown a certain resilience, supported by a clear increase in institutional demand. Investors are thus balancing macroeconomic risks against the inflow of capital from traditional players.
Recent data shows that spot Bitcoin exchange-traded funds have recorded particularly strong inflows, reaching nearly $1 billion in a single week — a multi-month high. This dynamic suggests that institutional investors remain engaged, and may even be increasing their exposure, despite the uncertain environment. Ethereum has also benefited from this trend, with notable inflows, confirming that major institutions are not stepping away from the crypto market.
A key support level also appears to be forming around the $75K–$76K range. This former resistance, now acting as support, suggests a potential continuation of the uptrend following the prolonged consolidation below these levels.
Moreover, a significant portion of liquidity is not leaving the ecosystem, but rather shifting within it. Capital is flowing into stablecoins, suggesting that investors prefer to wait for clearer conditions before taking on more risk. This evolution reflects a structural shift: Bitcoin is now reacting more to liquidity cycles, ETF flows, and geopolitical events than to its internal halving cycle. In the short term, the market’s ability to absorb shocks will largely depend on the persistence of these institutional inflows.
Bitcoin has nevertheless recently broken an important technical level, ending a downtrend that had lasted roughly seven months. This breakout occurred in an unexpected geopolitical context: the announcement that the Strait of Hormuz would remain open led to a drop in oil prices and renewed interest in risk assets. Driven by this move, BTC briefly climbed above $78,000 before stabilizing slightly lower, while companies with heavy Bitcoin exposure posted strong rebounds.
From a technical standpoint, this move may mark the end of a prolonged downward consolidation phase that began after the $126,000 peak reached in 2025. Since then, the market had been forming lower highs and lower lows, with each recovery attempt quickly rejected. The recent breakout above this resistance line suggests that the dynamic may be shifting, delaying — or even canceling — the scenario of a return to the $50,000–$55,000 range.
Some indicators remain mixed, however. The broader structure is still fragile, notably due to a bearish crossover in moving averages that remains in place, indicating that the long-term trend has not yet turned bullish. That said, the gap between these averages is beginning to narrow, which could signal a gradual transition. Meanwhile, the weakness of the ADX indicator shows a lack of conviction in the market, while the RSI is approaching overbought territory without having fully reached it, leaving room for further short-term upside.
From a sentiment perspective, expectations are becoming more optimistic. Some traders now see a move toward $84,000 as more likely than a significant downside, although expectations for a new all-time high in the near term remain limited. For this recovery to become sustainable, Bitcoin will need to hold above its former resistance, now acting as support. Conversely, a rejection combined with weakening indicators could quickly send prices back to lower levels and invalidate the breakout.
Bitmine Immersion Technologies continues to pursue an aggressive ether accumulation strategy, now holding close to 5 million tokens, representing just over 4% of the total circulating supply. This increase is largely due to the purchase of more than 100,000 ETH over the past week, bringing the company closer to its goal of owning roughly 5% of total supply. At this level, Bitmine stands as the largest corporate holder of ether, with a treasury valued at over $11 billion.
Its chairman, Tom Lee, believes the crypto market is approaching a turning point, suggesting that the current bearish phase may be nearing its end. He notes that previous downturns were typically accompanied by sharp declines in equity markets, which has not been the case this time. According to him, the relative resilience of equities in 2026, combined with emerging sources of demand, points to a gradual exit from what he describes as a “mini crypto winter.”
Among these drivers are the rise of institutional tokenization and the growing use of public blockchains by artificial intelligence systems. These trends are helping sustain interest in Ethereum, which is trading above $2,300 despite remaining significantly below its previous highs. This reinforces Bitmine’s long-term conviction in the asset.
At the same time, the company is benefiting from large-scale staking, with a significant portion of its holdings already committed. The resulting revenues reach several hundred million dollars annually and could increase further with the expansion of its validation infrastructure. In addition to its ether holdings, Bitmine maintains a strong cash position and holds other strategic investments, further strengthening its position within the crypto ecosystem.
The U.S. bill aimed at regulating the cryptocurrency market could face delays as discussions intensify in the Senate. A key negotiator on the Banking Committee, Senator Thom Tillis, recently indicated that a hearing to amend and vote on the bill is unlikely to take place in April. This delay comes as pressure mounts to move forward with legislation considered essential by many industry participants.
At the center of the debate is the issue of stablecoin yields. Discussions are focused on whether holders should be allowed to earn rewards on these assets. Some representatives of the banking sector worry that such mechanisms could divert deposits away from traditional institutions, while crypto firms argue that restrictions would hinder innovation. A compromise appears to be emerging, where rewards would be limited on idle balances but allowed for activities such as transactions.
Despite this progress, the legislative process remains complex. The bill must pass through multiple stages, including approval by various Senate committees, before a full vote and eventual reconciliation with a version already passed by the House of Representatives. Some lawmakers, such as Cynthia Lummis, had hoped for faster progress, while others warn of a prolonged stalemate if no decision is reached in the coming months.
Amid these uncertainties, industry participants are ramping up lobbying efforts. The head of The Digital Chamber has urged lawmakers to accelerate the timeline, emphasizing the importance of providing regulatory clarity to millions of Americans already involved in digital assets. In this context, upcoming Senate discussions will be critical for the future of crypto regulation in the United States.
Strategy recently made a major move by completing its largest Bitcoin purchase in over a year, acquiring approximately $2.5 billion worth of BTC in a single week. This operation increased its holdings to more than 800,000 bitcoins, further solidifying its position among the largest institutional holders of the asset. This massive accumulation comes as Bitcoin trades around $75,000, restoring value to the company’s portfolio after a more challenging period.
This move coincided with strong demand for its preferred share, STRC, a product offering an attractive monthly yield. As the ex-dividend date approached, demand intensified, with some investors likely engaging in dividend capture strategies — buying before the key date and selling shortly after. This dynamic helped maintain the share price around its target level and supported a significant market capitalization for the product.
The company’s prominent leader, Michael Saylor, has also suggested adjustments to the dividend structure, including more frequent distributions. The goal is to reduce volatility, improve liquidity, and enhance investor appeal. At the same time, Strategy has continued to raise capital through various financial instruments, including convertible bonds, to fund its Bitcoin acquisitions.
Despite some concerns about the sustainability of this strategy, markets appear supportive for now. The company’s stock has recently rebounded, and expectations of a significant reduction in its holdings remain limited. For Strategy, this latest purchase marks another step in its clear strategy: accumulating Bitcoin at scale while leveraging innovative financial products to attract and retain investors.
A particularly simple technical indicator is drawing attention among Bitcoin analysts, as it has historically identified bear market bottoms with remarkable consistency since 2015. Despite the constant market noise — daily price fluctuations, macro headlines, and investor sentiment — this tool, based on two long-term moving averages, has not yet confirmed a market bottom in 2026.
The concept relies on comparing the 50-week and 100-week moving averages. In normal growth phases, the shorter-term average sits above the longer-term one. However, during periods of extreme stress and sustained selling, this relationship reverses: the short-term average falls below the long-term one, forming a bearish signal. Interestingly, this crossover has historically occurred near market bottoms rather than at the start of downturns, making it a contrarian indicator.
This phenomenon has appeared three times over the past decade — in 2015, 2019, and 2022 — each time coinciding with a bottoming phase followed by a major rally. These moments preceded significant gains in Bitcoin, far outperforming other asset classes. However, in the current environment, this signal has not yet occurred, even though the two averages are gradually converging after the correction that began from the 2025 peak. It remains one to watch closely.
The presented information is as of April 21st, 2026, unless otherwise indicated and is provided for information purposes only. The information comes from sources that we believe are reliable, but not guaranteed. This statement does not provide financial, legal or tax advice. Rivemont Investments are not responsible for any errors or omissions in the information or for any loss or damage suffered.
