BTC Tests $75K Resistance as ETF Demand Faces Caution

Bitcoin (BTC) moved above $75,000 in the past 24 hours as markets reacted to easing geopolitical tensions and continued institutional inflows. The price action comes amid ongoing U.S.–Iran negotiations and renewed strength in U.S. equities, reinforcing risk appetite across crypto markets.

The move matters as Bitcoin approaches a key resistance zone that has capped rallies since February, while derivatives data suggests traders remain cautious about a sustained breakout.

Bitcoin reached an intraday high of approximately $75,450, tracking gains in U.S. equity indices, including the S&P 500 and Nasdaq. However, it struggled to hold above the $75,000 level, which acts as a strong resistance zone.

Total liquidations reached $225.5 million over the past 24 hours, according to CoinGlass. Of this, roughly $151.5 million was short positions, primarily in Bitcoin and Ethereum.

According to Glassnode, despite the upward move, derivatives markets reflect neutral-to-fragile conditions. Balanced funding rates, compressed volatility, and positive exchange flows suggest early accumulation but limited conviction.

Bitcoin’s relief rally may extend toward $78,100. However, it remains flow-driven and vulnerable without stronger institutional demand, higher spot volumes, and sustained absorption of overhead supply, increasing the risk of exhaustion near local highs.

On the macro front, markets responded positively to progress in U.S.–Iran talks, including reports of an “in-principle” agreement to extend ceasefire negotiations, with a potential meeting in Islamabad on April 16.

Institutional demand continued to support prices. On Wednesday, U.S. spot Bitcoin ETFs recorded total net inflows of $186 million, with BlackRock’s IBIT accounting for $292 million in single-day inflows.

Spot Ethereum ETFs saw net inflows of $67.85 million, while Solana and XRP ETFs posted $5.36 million and $17.11 million, respectively, according to SoSoValue data.

Ethereum traded at $2,357, up 1.65% over 24 hours. On-chain activity also strengthened, with Ethereum transactions reaching a quarterly record of 200.4 million and stablecoin supply on the network hitting an all-time high of $180 billion.

The total crypto market capitalization rose 1.46% to $2.54 trillion, while the Crypto Fear & Greed Index remained neutral at 56.

Bitcoin is testing a key resistance level at $75,000. ETF inflows are supporting the move, but derivatives data show weak conviction. A breakout likely needs stronger spot demand. Without it, the price may remain range-bound or reverse.

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