TLDR
- BTC is consolidating between $78,000–$79,500 after hitting a recent high of $79,480
- Key support sits at $78,250; a break above $79,500 could push price toward $80,000+
- IBIT options open interest has surpassed $27.6 billion, overtaking Deribit
- Spot Bitcoin ETFs recorded $824 million in net inflows for the week of April 20–24, a fourth straight week of gains
- Strategy now holds 815,061 BTC, worth nearly $64 billion
Bitcoin is trading above $78,000 after forming a high of $79,480. It is now consolidating just above the 23.6% Fibonacci retracement level of the move from $77,145 to $79,480.
The price is holding above the 100-hour simple moving average. A bullish trend line has formed with support near $78,250 on the hourly chart.
The next resistance level to watch is $79,200, followed by $79,500. A close above $79,500 could open the door to a test of the $80,000 level. Beyond that, bulls may target $81,200 and then $82,000.
If BTC fails to break above $79,500, it could pull back toward $78,300 or lower. The next major support below that is $77,250, with $76,500 and $75,000 as deeper floors.
Bitcoin $BTC is currently consolidating within a rising channel on the 4-hour chart. Following a rejection at the upper boundary, the price has returned to test the lower support at roughly $77,000.
This level is the primary structural barrier for the current trend. For the… pic.twitter.com/JPSVVMgATg
— Ali Charts (@alicharts) April 26, 2026
Analyst Ali Charts noted on X that BTC is trading inside a rising channel on the 4-hour chart. He said the lower support near $77,000 is the key structural level to hold. If buyers defend that zone, he sees a potential move toward $81,500 and then $84,500. A close below $77,000, he said, would break the short-term structure.
Institutional Derivatives Hit a New Milestone
Open interest for options tied to BlackRock’s iShares Bitcoin Trust (IBIT) has crossed $27.6 billion, according to data from Volmex. That figure now exceeds Bitcoin options volume on Deribit, the long-running offshore exchange.
Call option activity in the IBIT market points to long-term price targets near $110,000. Institutional allocators are using the market for hedging and covered call strategies.
Spot Bitcoin ETFs See 824M USD Weekly Net Inflows, Fourth Straight Week of Gains
From April 20 to April 24 (ET), spot Bitcoin ETFs recorded net inflows of $824 million, marking four consecutive weeks of net inflows. Spot Ethereum ETFs saw net inflows of $155 million, marking… pic.twitter.com/W65rajQOCO
— Wu Blockchain (@WuBlockchain) April 27, 2026
Spot Bitcoin ETFs saw $824 million in net inflows for the week of April 20–24. That marks four straight weeks of positive flows, according to Wu Blockchain on X.
Strategy Leads Corporate Bitcoin Holders
Strategy, led by Michael Saylor, holds 815,061 BTC on its balance sheet, valued at close to $64 billion. Other public companies holding BTC include Coinbase, Tesla, and Block.
Morgan Stanley launched its own Bitcoin ETF earlier in April. After 13 trading days, it had gathered $163 million in net assets.
Since the Iran war began on February 28, Bitcoin has risen 19%, outpacing both the S&P 500 and gold in that period. BTC is still roughly 40% below its all-time high of $126,198, set in October 2025.
Tennessee has become the second U.S. state to ban crypto ATMs. All kiosks must be removed by July 1, 2026.
