Rally

Bitcoin ETF

Bitcoin

Polymarket

<h2 id="tldr">TLDR</h2>
<ul>
 <li>BTC escaped a bear pennant formation, climbing to a six-week peak of $73,300</li>
 <li>Key resistance territory identified by Glassnode sits in the $78,000-$80,000 range</li>
 <li>Prediction markets on Polymarket now show 26% probability of BTC hitting $80,000 this month</li>
 <li>Institutional Bitcoin ETF buyers accumulated 3,350 BTC valued at $240 million on Friday alone</li>
 <li>Geopolitical developments including U.S.-Iran détente and improving macro sentiment drove BTC up almost 9% weekly</li>
</ul>
<p>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.</p>
<figure class="wp-caption aligncenter"><img src="https://blockonomi.com/wp-content/uploads/2026/04/chart-39-1.webp" alt="Bitcoin (BTC) Price" width="1973" height="1248">
 <figcaption><a href="https://www.coingecko.com/en/coins/bitcoin?chart=type%3Dprice%26mode%3Dline%26timeframe%3Dd7" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price</a>
 </figcaption>
</figure>
<p>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.</p>
<p>Technicians have also spotted a symmetrical triangle developing on daily charts. Should this pattern complete its typical trajectory, the projected upside target reaches approximately $87,000—representing roughly 20% appreciation from current pricing. Additionally, the Relative Strength Index displays bullish divergence, indicating momentum has been gradually accumulating throughout the previous two months.</p>
<div class="embed-twitter">
 <blockquote class="twitter-tweet">
  <p><a href="https://twitter.com/hashtag/btc?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#btc</a>/usd</p>
  <p>Bitcoin is poised to break out from the descending triangle pattern on the 4H chart<br>If confirmed, we could see <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> surge toward $81,500<img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f3af.png" alt="🎯"></p>
  <p><img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f447.png" alt="👇">Crypto Traders-join Telegram<img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f447.png" alt="👇"><a href="https://t.co/oRAVD0i3ly" rel="noopener noreferrer nofollow">https://t.co/oRAVD0i3ly</a><br>. <a href="https://t.co/XdpyjHiPpS" rel="noopener noreferrer nofollow">pic.twitter.com/XdpyjHiPpS</a></p>
  <p>— Whales_Crypto_Trading <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f40b.png" alt="🐋"> (@WHALES_CRYPTOt) <a href="https://twitter.com/WHALES_CRYPTOt/status/2042591038657994892?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 10, 2026</a></p>
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<p>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.</p>
<h2 id="what-onchain-data-says-about-80k">What Onchain Data Says About $80K</h2>
<p>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.</p>
<blockquote>
 <p>“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.</p>
</blockquote>
<p>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.</p>
<p>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.</p>
<div class="embed-twitter">
 <blockquote class="twitter-tweet">
  <p>$75,300 is a magnet for Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>!</p>
  <p>Bitcoin has reclaimed the $72,000 level, and the focus is now shifting to the massive liquidity pool sitting just above it. The shorts are trapped, and the "exit door" is getting very narrow.</p>
  <p>A move to $75,300 would wipe out approximately… <a href="https://t.co/2UHROLM3GQ" rel="noopener noreferrer nofollow">pic.twitter.com/2UHROLM3GQ</a></p>
  <p>— Ali Charts (@alicharts) <a href="https://twitter.com/alicharts/status/2042664156365570340?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 10, 2026</a></p>
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</div>
<h2 id="etf-demand-and-macro-backdrop">ETF Demand and Macro Backdrop</h2>
<p>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.</p>
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 <blockquote class="twitter-tweet">
  <p>Bitcoin ETFs bought 3,350 BTC worth $240M yesterday.</p>
  <p>ETFs now hold 721,090 BTC worth $56.75 Billion. <a href="https://t.co/tuSNw64wCT" rel="noopener noreferrer nofollow">pic.twitter.com/tuSNw64wCT</a></p>
  <p>— Bitcoin Archive (@BitcoinArchive) <a href="https://twitter.com/BitcoinArchive/status/2042834657805324323?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 11, 2026</a></p>
 </blockquote>
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<p>Broader macroeconomic circumstances also turned favorable for <a href="https://coincentral.com/bitcoin-btc-casinos/" rel="noopener noreferrer nofollow">Bitcoin’s</a> 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.</p>
<p>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.</p>
<p>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%.</p>
<p>Bitcoin ETF products maintained holdings of 721,090 BTC valued at $56.75 billion as of Friday’s close.</p>
<p>The post <a href="https://blockonomi.com/bitcoin-btc-surges-past-73k-as-etfs-pour-in-240m-during-friday-rally/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Surges Past $73K as ETFs Pour in $240M During Friday Rally</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.</p>

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

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