Bitcoin price little changed despite U.S.-Iran talks collapse, with stronger dollar offset by steady ETF demand.
Bitcoin price is trading around $70,930 on Monday, April 13, basically stuck near $71,000 even after the U.S.-Iran peace talks fell apart over the weekend. The breakdown pushed the dollar higher and sent oil sharply higher, the kind of backdrop that usually makes traders a bit more cautious on risk assets.
Analysts at blockchain analytics firm Glassnode pointed out in a Sunday post on X, April 12, that with BTC▼$62,466.00 at $70,800, about 13.5 million addresses were sitting at a loss, which “indicates that a meaningful portion of the network acquired coins above the current spot price.”
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Even so, Wall Street is still rolling out new ways to buy Bitcoin. Last week, Morgan Stanley launched its Bitcoin Trust, under the ticker MSBT, with a relatively low 0.14% fee, while Nasdaq began listing a more unusual product, the Nicholas Bitcoin and Treasuries AfterDark ETF, or NGHT, which is designed to capture Bitcoin’s overnight moves.
The flow of money is not dead either. Data from SoSoValue shows that spot Bitcoin ETFs pulled in more than $786 million last week, their biggest weekly inflow since late February. That suggests buyers are still stepping in around this price range, even if the market is not exactly breaking out.
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