Bitcoin price reaches over $73000 amid rising inflation and fragile peace agreement.
April 10, 2026
Bitcoin’s price surged above $73,000, marking a 1.8% increase within the past 24 hours and a notable 9.4% upswing throughout the week. This rise came as investors grappled with a higher-than-anticipated March CPI report and a delicate U.S.-Iran ceasefire situation. Following Bitcoin’s lead, Ethereum climbed to $2,250, indicating a 2.0% daily increase and nearly 10% growth over the last seven days as reported by CoinGecko. Other cryptocurrencies also saw positive movement with Solana gaining 2% to reach $85, XRP rising 0.6% to $1.36, and BNB ticking up 0.3% to $609. However, Bittensor (TAO) experienced a 21% drop to $265 after a prominent developer within the ecosystem criticized the subnet.
The overall market capitalization of cryptocurrencies increased to around $2.55 trillion, representing a 1% rise within 24 hours. Despite this growth, the Cryptocurrency Fear & Greed Index remained at a low of 16, signaling a prolonged period of “Extreme Fear” that has persisted for almost two months.
The Bureau of Labor Statistics released data showing that headline CPI surged by 0.9% month-over-month and 3.3% year-over-year in March, the highest annual increase since May 2024. This spike was primarily driven by energy prices, with gasoline costs soaring by a record 21.2% in the month, contributing to nearly three-quarters of the overall monthly increase. While this news may cause concern, the core CPI, which excludes food and energy, only increased by 0.2% month-over-month, aligning with the previous month’s rate, and the annual core rate slightly rose to 2.6% from 2.5%. Since the Fed closely monitors core inflation, the market is pricing in a 98% probability of the Fed maintaining rates at its upcoming April 29 meeting.
Earlier in the week, news of a ceasefire between the U.S. and Iran initially led to a market rally, with Bitcoin surging over 4% after President Trump’s announcement of a two-week agreement with Iran. However, further reports of ongoing conflict and disagreement over Iran’s control saw this momentum disrupted. Despite these fluctuations, Bitcoin surpassed the $73,000 mark on Friday, its highest level since mid-March.
While there were short liquidations earlier in the week, perpetual futures funding rates are showing a trend towards negative territory, indicating cautious market sentiment despite rising spot prices. In parallel, spot Bitcoin ETFs saw $343 million in net inflows on April 9, bringing total BTC ETF net assets to approximately $93.2 billion. Looking ahead, if the ceasefire endures and oil prices continue to stabilize, the energy-driven inflation spike is likely to diminish in the coming months. A sustained breakout above $75,000 could be a significant indicator that the post-crash range is shifting in a positive direction.
