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Crypto World

Bitcoin (BTC) Surges Past $73K as ETFs Pour in $240M During Friday Rally

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Bitcoin (BTC) Price

TLDR

  • BTC escaped a bear pennant formation, climbing to a six-week peak of $73,300
  • Key resistance territory identified by Glassnode sits in the $78,000-$80,000 range
  • Prediction markets on Polymarket now show 26% probability of BTC hitting $80,000 this month
  • Institutional Bitcoin ETF buyers accumulated 3,350 BTC valued at $240 million on Friday alone
  • Geopolitical developments including U.S.-Iran détente and improving macro sentiment drove BTC up almost 9% weekly

Bitcoin surged beyond the $73,000 threshold on Friday, touching a six-week peak at $73,300 following a decisive breakout from what technical analysts had identified as a bear pennant formation on daily timeframes. The advance occurred alongside elevated trading volumes, suggesting genuine buying conviction rather than thin market manipulation.

Bitcoin (BTC) Price
Bitcoin (BTC) Price

The cryptocurrency pierced through the pennant’s upper boundary near $70,000, delivering a 7% single-session gain. During this advance, BTC successfully recaptured multiple significant moving average levels, notably the 200-week exponential moving average positioned at $68,350 and the 50-day exponential moving average sitting at $70,580.

Technicians have also spotted a symmetrical triangle developing on daily charts. Should this pattern complete its typical trajectory, the projected upside target reaches approximately $87,000—representing roughly 20% appreciation from current pricing. Additionally, the Relative Strength Index displays bullish divergence, indicating momentum has been gradually accumulating throughout the previous two months.

The immediate technical obstacle for Bitcoin sits at the 100-day exponential moving average hovering near $75,400. Failure to overcome this barrier could compromise the strength of the present breakout attempt.

What Onchain Data Says About $80K

Glassnode analytics establishes a more defined upper boundary for the near-term advance. The analytics firm’s risk assessment tools highlight substantial resistance clustering between the true market mean around $78,000 and the short-term holder acquisition cost basis approximating $80,000.

“Any rally into this zone is likely to encounter meaningful distribution pressure from recent buyers seeking to exit at or near breakeven,” Glassnode said in its latest Week Onchain report.

Their Entity-Adjusted URPD metrics indicate BTC has penetrated a comparatively sparse zone spanning $72,000 to $82,000, featuring diminished supply overhead throughout that corridor. Nevertheless, over 1.3 million BTC were accumulated within the $82,000-$85,000 band, potentially establishing a formidable ceiling.

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Market observer Ali Charts highlighted on X that $75,300 functions as a “magnet” for Bitcoin pricing, observing substantial liquidity concentration positioned just beyond $72,000. He suggested a movement toward $75,300 might eliminate approximately $80 million in short positions, potentially initiating a liquidation cascade.

ETF Demand and Macro Backdrop

Regarding institutional participation, Bitcoin Archive documented on X that spot Bitcoin ETF products absorbed 3,350 BTC worth $240 million during a single trading session. These investment vehicles collectively control 721,090 BTC, representing approximately $56.75 billion in aggregate value.

Broader macroeconomic circumstances also turned favorable for Bitcoin’s trajectory this week. Diplomatic progress toward a U.S.-Iran ceasefire agreement lifted risk-sensitive assets across markets, propelling BTC toward a weekly appreciation approaching 9%—marking its strongest weekly performance since October 2025.

March Consumer Price Index data registered 3.3%, primarily attributable to a substantial 10.9% spike in energy sector costs. Core inflation measurements, however, advanced merely 0.2% month-over-month.

On decentralized prediction platform Polymarket, participants currently assign a 26% probability to BTC achieving $80,000 during April, representing a 5% increase over the preceding 24 hours. Meanwhile, the likelihood of reaching $75,000 stands at 76%.

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Bitcoin ETF products maintained holdings of 721,090 BTC valued at $56.75 billion as of Friday’s close.

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Crypto World

Iran Bitcoin toll report raises questions over oil ship payments

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UK shuts down crypto exchange Zedxion after sanctions probe ties platform to Iranian networks

Reports that Iran may accept crypto for oil tanker tolls in the Strait of Hormuz have sparked debate across the digital asset market. 

Summary

  • Reports on Iran’s possible crypto tolls for oil tankers have split opinion across Bitcoin and stablecoin circles.
  • Analysts said stablecoins face freeze risks, while Bitcoin supporters called BTC harder to block or control.
  • Galaxy’s Alex Thorn said tanker payments may use Bitcoin addresses, not Lightning, due to size limits.

The discussion followed a Financial Times report that linked the proposal to Iran’s efforts to reduce exposure to US sanctions.

Market participants have focused on one question: whether Bitcoin would play a real role in such payments. Conflicting claims have since pointed to stablecoins or Chinese yuan as other possible options.

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The latest debate started after reports said Iran was considering Bitcoin payments for ships crossing the Strait of Hormuz. The waterway remains one of the world’s busiest energy routes, which has pushed the topic beyond crypto circles and into wider market discussions.

Alex Thorn, head of firmwide research at Galaxy, said later reports did not fully support the original Bitcoin claim. He said some accounts suggested the tolls could instead be settled in stablecoins or Chinese yuan, which left the payment method unclear.

That uncertainty has driven much of the reaction from Bitcoin supporters and market analysts. With no confirmed payment framework in place, traders and industry figures have treated the story as a developing issue rather than a settled policy.

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The lack of an official and detailed public plan from Iranian authorities has also kept room for doubt. For now, the crypto market is responding more to reports and commentary than to a final rule.

Bitcoin and stablecoins draw different arguments

Bitcoin supporters argued that BTC would be harder for outside parties to freeze or block. Justin Bechler said, “USDT and USDC include built-in blacklist functions at the smart contract level,” adding that issuers can freeze funds when addresses are flagged.

He also said, “Bitcoin has no issuer, no compliance officer to pressure, and no freeze function.” That argument has pushed some market participants to present Bitcoin as a more resilient option for cross-border settlement under sanctions pressure.

Still, that view has not settled the debate. Stablecoins remain widely used in global crypto payments because they reduce price swings, and that may still matter for any large commercial transaction tied to oil shipping.

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The discussion also reflects the difference between theory and practice. A payment method may look strong on paper, but large state-linked payments depend on speed, scale, compliance risk, and operational ease.

Payment size and logistics remain key issues

Thorn estimated that tanker tolls could range from $200,000 to $2 million per ship. That size has raised doubts about whether the Lightning Network would be the main rail, even though some early reporting suggested a payment could be completed within seconds.

He said the more likely setup would involve Iran providing a QR code or a Bitcoin address after approving a ship’s passage. That method would avoid the limits that can affect very large Lightning payments.

Thorn also noted that the largest known Lightning transaction to date was about $1 million. That figure matters because some tanker tolls may sit above that level, which could make direct onchain settlement or pre-arranged transfers more practical.

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WLFI Drops to Record Low After Token-Backed Borrowing Raises Risk Concerns

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WLFI Drops to Record Low After Token-Backed Borrowing Raises Risk Concerns

WLFI, the native token of the Donald Trump–backed World Liberty Financial platform, sank to an all-time low on Saturday as crypto users expressed concerns after revelations that the project used a large amount of its own tokens to take out loans.

The token hit a new low of around $0.07714 on Saturday, down 83% from its peak of $0.46 reached last September, according to data from CoinMarketCap. WLFI is currently at $0.07879, down by 4.66% over the past day.

The downturn came after it was revealed that wallets linked to World Liberty Financial deployed substantial WLFI holdings as collateral on Dolomite, a decentralized lending platform co-founded by the project’s chief technology officer, Corey Caplan.

WLFI token down 65% over the past year. Source: CoinMarketCap

Onchain data from Arkham shows that a wallet linked to World Liberty Financial deposited around 5 billion WLFI tokens on Dolomite. The wallet then used the tokens as collateral to borrow $75 million in USD1 and USDC (USDC) stablecoins, later transferring more than $40 million to Coinbase Prime.

Related: CFTC unveils innovation task force members in crypto clarity push

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WLFI-backed loan position sparks concerns

The large collateral position has raised concerns among DeFi analysts, who warn it could create risks for lenders on Dolomite if WLFI’s price falls and approaches liquidation levels.

“WLFI has almost a $10 billion FDV, but it is not an extremely liquid asset,” one user wrote on X. “So imagine what would happen if 5% of WLFI’s total supply would suddenly need to be sold to liquidate the position,” he added.

Another X user argued that the setup resembles creating artificial “chips” and borrowing against them. “It’s the financial equivalent of printing casino chips, borrowing cash against them, and telling everyone else not to panic because the house still believes in the chips,” they claimed.

Source: Ethan DeFi

Dolomite has a relatively small footprint in decentralized finance, ranking 19th among lending platforms by total value locked, according to DefiLlama.

Related: White House warns staff as Iran bets add to growing insider trading concerns

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World Liberty defends WLFI lending

World Liberty Financial acknowledged the lending activity on social media, but sought to calm markets, stating that its positions remain well above liquidation thresholds. The project described itself as an “anchor borrower” for WLFI and argued that the strategy helps generate yield.

“Everyday users are earning outsized stablecoin yields right now — at a time when traditional markets are offering very little. That’s the whole point,” the project wrote on X.

On Friday, World Liberty said it will soon introduce a governance proposal to create a phased unlock schedule for WLFI tokens held by early retail buyers, replacing immediate access with a long-term vesting plan subject to community vote.

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