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Geopolitical shifts in Iran may sway Bitcoin (BTCUSD). Analysts say an Iranian strike could test BTC’s floor, while de-escalation might remove a war premium and link to moves toward $70,000. 1 Spot Bitcoin ETFs and institutional buyers added about 94,000 BTC in March—roughly 50,000 BTC into ETFs and ~44,000 BTC by the firm—marking the largest monthly inflows since October 2025. Bitcoin (BTCUSD) rallied as derivatives activity forced roughly $196 million in short liquidations, helping crypto market cap climb to about $2.35 trillion from near $2.27 trillion. A firm reported $14.46 billion unrealized loss on digital assets; BTC fell below cost in early February. The firm bought ~54,000 BTC since February; 89,316 BTC were bought in Q1 for ~$6.3 billion. Bitcoin’s near-term 48-hour range: breakout above $72,000 targets $75,000–$76,000; breakdown below $65,600 exposes support near $62,000. Headlines likely drive price action. BTCUSD futures open interest climbed ~5% to $107 billion; daily spot volume jumped ~64% to $129 billion, signaling higher trader activity in Bitcoin derivatives and spot markets. On-chain data shows entities holding 1,000+ BTC fell to 1,266 by April 5. Long-term holder net position change dropped to 87,038 BTC. 1.7% of supply clustered near $69,422; supply thins above $70,685. Bitcoin shows limited buying pressure: MVRV under 1.5 and momentum needs CPI-driven push above $71,000 to confirm bullish setups; upside hinges on CPI breakout. STRC stock sales funded large BTC buys: $102.6 million raised for a $330 million purchase last week, and about $776 million in March 9–13 funded purchases exceeding 11,000 BTC, causing BTC to rally 6–7%. Strategy bought more Bitcoin after a Michael Saylor tweet. BTC traded near $69,000. Strategy holds 762,099 BTC (~$51 billion) at an average cost of $75,699, ~11% below cost.