Bitcoin price today opened at $74,335, down 1.6% over 24 hours, Yahoo Finance reported, as the asset absorbed the weekend’s Iran escalation significantly better than oil, which surged over 5%, and European equities, which fell over 1%.
Summary
- Brent crude surged over 5% and S&P 500 futures fell 0.5%, while Bitcoin dropped only 1.6%, the smallest BTC drawdown relative to oil of the entire Hormuz crisis.
- Ethereum traded near $2,310, holding well above its post-Islamabad lows near $70,600, supported by nearly $1 billion in ETF inflows recorded last week.
- The Crypto Fear and Greed Index rose to 29, its highest reading since late January, even as Iran’s IRGC threatened retaliation for the Touska seizure.
Bitcoin (BTC) price today is being closely watched for what it reveals about the structural change in how crypto absorbs Iran war headlines. CoinDesk noted Monday that BTC has “proved more resilient than oil and equities to the latest Iran-related flare-up.” Brent surged over 5%. S&P 500 futures dropped 0.5%. Dow Jones futures fell roughly 450 points. Bitcoin slipped 1.6% to $74,335.
Ethereum traded near $2,310, down less than 1% over 24 hours, holding the level it reclaimed after the April 8 ceasefire announcement. When Iran first closed the Strait of Hormuz at the end of February, Bitcoin dropped into the low $60,000s alongside every other risk asset. The same event replaying now, nearly 50 days into the conflict, produces a fraction of that drawdown.
Last week, Bitcoin spot ETFs attracted nearly $597 million in inflows over two days on ceasefire hopes, according to SoSoValue data. That demand did not evaporate when the ceasefire began unraveling Saturday. Strategy added 34,164 bitcoin for $2.54 billion, its third-largest single purchase on record. The combination of sustained ETF buying and corporate accumulation means Iran headline selling is absorbed before it reaches significant depth in spot markets.
The pattern is visible across the conflict timeline. The February Hormuz closure sent BTC down roughly $15,000. Comparable escalations now produce moves of $3,000 to $4,000. Each successive Iran shock produces a smaller drawdown, reflecting the institutional demand floor that has built continuously through ETF inflows since January 2024.
What the ETF Floor Means for Ethereum
Ethereum at $2,310 is holding above the $2,200 level it reclaimed on the April 8 ceasefire announcement, though it sits below the $2,440 peak briefly reached Friday when Hormuz was declared open. The $130 gap between Friday’s high and Monday’s price represents the ceasefire premium that has since unwound.
The ceasefire breach pattern across six weeks shows that crypto markets price each escalation fast but rarely surrender all prior gains, because traders are simultaneously pricing eventual resolution. Bitcoin’s key support sits between $73,000 and $74,000, where ETF inflows accelerated last week and where institutional buyers are expected to defend spot prices if selling resumes.
The Wednesday Expiry as the Hard Deadline
The April 22 ceasefire expiry is now two days away with no Iranian delegation confirmed for the Pakistan talks. A ceasefire extension or last-minute deal would likely replicate the April 8 template: oil falling 13% and BTC surging to $72,700 within hours of the original announcement.
A full collapse of negotiations with resumed strikes would test whether the institutional demand floor holds below $70,000, the level analysts identified as pre-conflict structural support. Bitcoin’s behavior at that level, whether it holds or breaks, will tell markets whether the floor is genuine or a product of ceasefire-specific sentiment that does not survive a return to open hostilities.
