Key Highlights
- Bitcoin surged past $78,000 following Iran’s submission of a fresh peace proposal via Pakistani intermediaries
- BTC reached approximately $78,800, registering gains exceeding 3% during the trading session
- Washington delivered updated terms to Tehran, indicating continuing diplomatic dialogue
- April saw Bitcoin ETFs attract $1.97 billion, representing 2026’s strongest monthly performance
- Ali Charts highlights that BTC has yet to reach critical support zones positioned at $54,145 and $43,316
Bitcoin pushed beyond the $78,000 threshold on Saturday following reports that Iran delivered a fresh peace proposal to American mediators via Pakistan.
This diplomatic development followed President Donald Trump’s rejection of a prior Iranian proposition to reopen the Strait of Hormuz in return for ending the American blockade at the critical oil passage. Trump stated to journalists that Iran “wants to reach a deal badly.”
Axios reported that Tehran transmitted its reply to Washington’s most recent modifications to a preliminary accord. White House representative Steve Witkoff delivered a series of stipulations to Iran, emphasizing the reinsertion of nuclear matters into the agreement’s framework.
BTC reached approximately $78,800 during this reporting period, climbing more than 3% from the session’s floor near $76,000, based on TradingView information.
Crude oil valuations declined following these developments. Brent crude futures retreated to roughly $106, shedding over 4% during the session, as market participants anticipated reduced regional tensions.
The cryptocurrency sector broadly experienced upward momentum. Approximately $2.1 billion worth of Bitcoin and Ethereum options contracts reached expiration simultaneously, contributing to heightened market fluctuations.
April ETF Activity Reaches 2026 Peak
The rally coincided with robust institutional appetite for Bitcoin investment vehicles. American spot Bitcoin ETFs accumulated $1.97 billion throughout April, surpassing March’s $1.37 billion and establishing the year’s highest monthly total, per SoSoValue analytics.
BlackRock’s iShares Bitcoin Trust (IBIT) dominated inflows with approximately $2 billion in net additions. Grayscale’s GBTC experienced the most significant withdrawals at roughly $280 million.
The Morgan Stanley Bitcoin Trust ETF (MSBT), launching on April 8, captured $194 million without recording any withdrawal days throughout the month.
Aggregate net additions across all Bitcoin ETFs since inception have now exceeded $58 billion. For the year-to-date period, Bitcoin ETFs maintain approximately $1.47 billion in net additions following withdrawals during January and February.
Critical Support Zones Remain Untested
Cryptocurrency analyst Ali Charts referenced Bitcoin’s MVRV Pricing Bands as an essential metric for determining cyclical bottoms. Ali Charts observed that Bitcoin historically establishes support between the 1.0 and 0.8 MVRV bands — representing zones where market valuation trades at or beneath aggregate acquisition costs.
As of late April 2026, these bands position themselves at $54,145 for the 1.0 threshold and $43,316 for the 0.8 threshold. Ali Charts observed that Bitcoin has yet to probe these regions during the present cycle.
Bitcoin delivered a 12% appreciation throughout April, marking its most substantial monthly advance since April 2025, when it climbed over 14%.
