TLDR
- Bitcoin hit a four-week high near $75,000 before pulling back to around $74,290
- Around $530 million in crypto liquidations were triggered, with 80% from short positions
- Hopes of a US-Iran deal are being credited as the main driver behind the rally
- Bitcoin ETFs attracted $833 million in net inflows last week
- Whale wallets added 30,000 BTC in March, worth roughly $2.1 billion
Bitcoin broke through the $73,000 level on Monday that had rejected it three times in the past eight days, hitting $74,484 — its highest price since before the Iran conflict began in late February.
The move triggered $534 million in liquidations across around 180,000 traders. Of that, $430 million came from short positions, making it the second major short squeeze in less than a week.
Ether outperformed Bitcoin, rising 7.7% to reach $2,366 — its highest level in about ten weeks. Solana gained 4.6%, BNB rose 3.3%, and every top-10 crypto asset posted gains on both the daily and weekly chart.
The largest single liquidation was a $12.4 million BTC-USDT short on Aster. Bitcoin accounted for $229 million in total liquidations, followed by Ether at $136 million.
The rally is being linked to signals from President Trump that he may be open to resuming talks with Iran. A US military blockade of the Strait of Hormuz began on Monday, but markets appear to be reading it as a pressure tool rather than a full escalation.
Jeff Mei, COO at BTSE, told Cointelegraph: “Traders believe the US and Iran are coming closer to a deal. Iran is frantically looking to broker a deal, and stock and crypto markets are rallying as a response.”
The S&P 500 has now erased all losses from the Iran conflict, and the MSCI All Country World Index posted its eighth straight day of gains.
ETF Inflows and Whale Accumulation
Bitcoin ETFs saw $833 million in net inflows last week. James Butterfill of CoinShares said this “reflects a rebound in risk appetite following tentative ceasefire developments in Iran, alongside support from softer-than-expected US spending and CPI data.”
On-chain data from Santiment shows that whale wallets holding between 1,000 and 10,000 BTC added 30,000 tokens in March — roughly $2.1 billion worth. Around 20,000 BTC of that was added in a single day.
Analyst account Santiment noted on X that whales holding between 1K and 10K BTC now control over 4.25 million BTC, or 21.3% of the total supply — the most they’ve held since mid-February.
🐳 Whales holding between 1K-10K Bitcoin now hold over 4.25M $BTC (21.3% of the supply). This is the most coins they've held since mid-February. The 27,652 BTC added Sunday equates to just over $2B in accumulation. Bitcoin has enjoyed a rebound back to $72.6K today. 👍 pic.twitter.com/r0ygTVaGUM
— Santiment (@santimentfeed) April 13, 2026
What Analysts Are Watching Next
Trading firm Valerius Labs noted: “This isn’t a breakout. It’s a short squeeze running into overhead supply. Real buyers show up above the 200 SMA, not 15% below it.”
CryptoQuant identified the next key resistance near $79,000 — the Traders’ Realized Price, where active buyers from the recent drawdown return to breakeven and may look to sell.
The 4-hour RSI has climbed to 62, above its 14-period average, which analysts say points to accelerating momentum. A ceasefire between the US and Iran is set to expire next week, with another round of talks currently being discussed.
