SOL, ADA, DOGE pullback, bitcoin holds above $74,000 as Asia recoups Iran war losses
China’s CSI 300 joins Taiwan and Singapore in erasing war-related declines as US-Iran talk optimism keeps oil below $100; spot ETFs posted $471 million in single-day inflows last week.
What to know:
- Bitcoin held above $74,000 as global risk appetite returned, with major Asian equity benchmarks and the S&P 500 recovering losses tied to the late-February U.S.-Iran conflict.
- Strong inflows into U.S. spot bitcoin ETFs, which have now taken in more than $56 billion, are seen as creating a base of long-term holders and helping support prices near key entry levels.
- Easing oil prices on hopes for renewed U.S.-Iran talks and growing expectations of Federal Reserve rate cuts later this year are adding liquidity and support to risk assets, including cryptocurrencies.
China’s CSI 300 became the latest gauge to fully erase war-related declines, joining Taiwan and Singapore. The S&P 500 is closing in on its record high from late January.
Optimism that the US and Iran will enter a second round of talks in the coming days has kept crude oil below $100 a barrel, easing the inflationary overhang that weighed on markets through March.
The current bitcoin price sits near the estimated average entry price for holders of U.S. spot bitcoin ETFs, a level that could act as a floor rather than a ceiling. Investors who held through the drawdown below $60,000 have little incentive to sell at breakeven, removing a layer of potential overhead supply.
U.S. spot ETFs posted $471 million in net inflows on April 6, their strongest single-day intake since February, pushing cumulative inflows past $56 billion since the products launched in January 2024 – a move some watchers say is reflective of bullish market structure.
