NEW YORK, April 9, 2026, 14:08 (EDT)
Bitcoin hovered close to $72,000 on Thursday, with traders digesting uncertainty around a fragile U.S.-Iran ceasefire. The cryptocurrency was last at $72,021, marking a 0.3% gain for the day. Reuters
Institutional demand remains patchy, despite Wall Street rolling out more options. On April 6, U.S. spot bitcoin ETFs pulled in $471.4 million, but by April 8, they saw $93.9 million flow out. That same day, Morgan Stanley entered the fray with MSBT, bringing in $30.6 million at launch. Its 0.14% sponsor fee undercuts both BlackRock’s IBIT and Fidelity’s FBTC, which each charge 0.25%. Farside
Macro headlines kept driving action. Bitcoin dropped close to 1% to $70,680 earlier Thursday, Reuters said, with traders reacting to renewed strikes in Lebanon and more trouble in the Strait of Hormuz as the ceasefire came under question. The cryptocurrency later rebounded, pushing back above $72,000 during U.S. trading. Reuters
It’s in line with what’s been happening elsewhere. “The entire ceasefire remains tenuous,” Derek Halpenny, head of research global markets EMEA at MUFG, told Reuters. Bitcoin, true to form, has mostly tracked risk assets this year—moving alongside equities and rate speculation, not acting like a haven. Reuters
Morgan Stanley is pitching the launch as a way to connect traditional investors with digital assets. Ben Huneke pointed to “long-term trends in financial innovation.” Ally Wallace called exchange-traded products a “transparent and regulated framework.” Amy Oldenburg noted that clients prefer access via “structures they understand and trust.” Morgan Stanley
Washington is in focus again. Treasury Secretary Scott Bessent called on Congress to approve the Clarity Act, saying fuzzy U.S. regulations have driven crypto work overseas. A federal market-structure bill, he argued, could anchor digital-asset investment at home. Reuters
The sector showed no clear direction. Ether slipped 0.9% to $2,210.56. Strategy ticked up around 2.3%. Coinbase, though, dropped about 1.2%. Investors, it seems, continued to selectively target names instead of piling into the full group.
The trouble is, this could just be another brief relief rally. On Thursday, Reuters’ Morning Bid noted Asian equities and Wall Street futures had already surrendered some of the ground won on Wednesday. Fed officials aren’t showing urgency about lowering rates, either — a combo that threatens risk appetite if oil prices hold up and ETF demand stays weak. Reuters
Thursday’s jump still leaves bitcoin sitting roughly 43% under its record high of $126,223.18 set back in early October 2025. Right now, $72,000 doesn’t signal a breakout—more a gauge of whether buyers are willing to hang on. Reuters
