Bitcoin Rebounds to $69,000 — US-Iran Ceasefire Talks Spark Risk-On Rally After Tariff Selloff

Bitcoin surged back to $69,355 on April 6, 2026 — a 4% gain in 24 hours — as reports of a proposed 45-day ceasefire between the US and Iran dramatically improved global risk appetite. The rally follows a brutal Q1 selloff triggered by 25% tariffs on Canada and Mexico and 10% on China, which had dragged BTC as low as $64,000 in mid-March. The ceasefire catalyst pushed BTC above $70,000 briefly during the New York session, triggering over $145 million in short liquidations as bearish traders were forced to cover. Ethereum outperformed, rising 5.72% to $2,141 on the same day. Analysts note the recovery is fragile: the $68,000 support level is critical, and a break below could accelerate a move toward $60,000. However, institutional buyers are treating the dip as an accumulation opportunity, with spot Bitcoin ETFs recording $69.6 million in net inflows during the first week of April — reversing a four-month streak of outflows. The macro backdrop is shifting: with the Fed signaling a June rate cut and geopolitical tensions easing, the setup for a sustained Q2 recovery is building.