#Gate广场四月发帖挑战 Crypto Daily(04.09): US-Iran Ceasefire Drives BTC Rebound to $72k, ETF, Mining, and Ecosystem Progress Simultaneously

1. Impact of US-Iran Ceasefire on the Crypto Market and Bitcoin Price
1. After the US and Iran reached a two-week temporary ceasefire agreement, uncertainties surrounding Strait of Hormuz navigation decreased, international oil prices plummeted over 10%, and global market risk appetite rebounded, pushing Bitcoin price back above $72,000. This led to a broad rally in the crypto market, with many altcoins gaining more than Bitcoin.
2. The rebound triggered a large-scale liquidation of crypto futures shorts, with over $400 million in shorts liquidated within 24 hours, typical of a short squeeze driven by ceasefire news.
3. The market generally remains cautious about the sustainability of the rally, viewing the ceasefire as a temporary agreement. Future trends depend on ceasefire implementation, Strait of Hormuz navigation recovery, and US inflation data. Currently, the rebound is mainly short covering, lacking sufficient new demand to sustain upward momentum.
2. Bitcoin Market Trends and On-Chain Data Analysis
1. On-chain data shows approximately 844k BTC have changed hands within the $60k–$70k range since 2026, accounting for 9.23% of the total circulating supply, forming a strong support level. The $70k–$80k range holds only about 400k BTC, indicating limited supply and potential for increased volatility.
2. Multiple indicators suggest Bitcoin may be bottoming out: long-term holders are returning to accumulation mode; daily RSI patterns resemble those at the end of the 2022 bear market; industry figures like Michael Saylor believe Bitcoin has bottomed around $60k. Traditional finance firm Charles Schwab notes that a small allocation of Bitcoin can significantly alter portfolio risk, advising investors to allocate based on their risk tolerance. Some analysts warn of risks, suggesting a possible 20% correction at the end of the bear market, with short-term technical indicators showing overbought conditions and potential for a pullback.
3. Bitcoin Spot ETF Industry Developments
1. Morgan Stanley launched the first spot Bitcoin ETF under a major US bank, MSBT, with a 0.14% industry-low fee, and analysts forecast its first-year assets under management could reach $5 billion.
2. After four consecutive months of net outflows, the Bitcoin ETF industry saw a return to net inflows in March 2026. Following the ceasefire news, capital inflows increased further, and institutional demand is gradually warming.
4. Bitcoin Mining Industry Updates
1. Bitdeer launched the Sealminer A4 series Bitcoin miners, with flagship models achieving an efficiency of 9.45J/TH, setting a new record for Bitcoin mining efficiency. This can help miners, facing profit pressure after the halving, reduce electricity costs.
2. Listed mining company Cango reduced the cost of mining one Bitcoin to $68.2k by shutting down inefficient miners and optimizing deployment in March. The company sold 2,000 BTC that month to repay pledged loans, lowering debt levels.
5. Bitcoin Ecosystem and Global Crypto Industry Hotspots
1. The native DeFi platform Mezo launched, positioning itself as an on-chain Bitcoin bank, allowing users to stake Bitcoin to mint stablecoins and access liquidity without selling BTC. It has raised $28.5 million so far.
2. British cryptographer Adam Back publicly denied The New York Times’ report claiming he is Satoshi Nakamoto, stating he is not Satoshi and does not know his true identity. The Satoshi Nakamoto mystery remains unsolved.
3. Bit launched a new project Midnight, offering a staking activity where users lock BTC and ETH to earn NIGHT airdrops. Japan is advancing Web3 gaming development, with 12 million crypto users, and plans to implement a clear 20% unified crypto tax framework. Several leading gaming companies are already deploying blockchain gaming projects.
4. This week’s notable events in Asia’s crypto industry include: Drift Protocol’s $285 million theft linked to North Korean hackers; South Korea’s new five-minute reconciliation rule for crypto exchanges; and Hong Kong’s delayed issuance of stablecoin licenses beyond initial plans.