Bitcoin hovered around $67,000 on Saturday afternoon as U.S.-Iran tensions intensified following President Donald Trump's April 4, 2026 post giving Iran 48 hours to reopen the Strait of Hormuz. The wider backdrop included Operation Epic Fury, which U.S. forces say has hit more than 9,000 targets since Feb. 28, 2026, alongside oil prices rising above $100 to $110 a barrel. BTC briefly dipped below $68,000 before returning to the $67,000 area, after earlier sliding toward a 2026 low near $65,834 and then rebounding.

Bitcoin traded at $66,845 at the time of writing, up 0.42% over the past 24 hours, while price action stayed range-bound. On-chain and flow metrics suggest weaker demand as exchange withdrawals hit 908 addresses and large-holder accumulation appears to stall. In derivatives, funding was slightly positive at 0.0037% but Open Interest slipped 0.87% to $46.14 billion, pointing to cautious positioning.

Jimmy Song, co-founder of the nonprofit ProductionReady, said the Bitcoin network needs a "conservative" node client that avoids major code changes unless there is overwhelming community support. He added that ProductionReady expects to restore the 83-byte OP_Return limit to keep node storage costs low, which he linked to decentralization and resilience. Bitcoin Core 30 removed the OP_Return limit in October 2025 by raising it to 100,000 bytes, a move that coincided with growth in Bitcoin Knots usage to 4,746 nodes, or over 21.7% of the network.

Bitcoin has slipped to $66,000 and then confirmed $69,000 as resistance after a bearish retest, setting up conditions that could allow a drop toward $45,000. The roadmap highlights overhead supply zones at $76,000–$79,000 and $88,000–$92,000, while keeping the bearish case active as long as price remains below $69,000. A reclaim of $72,000 is presented as the level that would challenge this downside framework.

Bitcoin's RVTS (Realized Value Transaction Volume) Ratio rose toward 85, a record level that suggests adjusted on-chain volume is shrinking even as price stays firm. At press time, BTC traded near $66,940, holding above the $65,800 support area while moving within a tight $66,569–$67,200 range. Long-term holder supply increased to 14.90 million BTC and exchange reserves sat near 2.7 million BTC, pointing to tighter supply as broader activity remained subdued.

Bitcoin spent March trading mostly between $63,000 and $71,000 after a brief push to $75,000, and it was priced at $66,930 at press time. On-chain readings suggest the main sell-side flow is coming from short-term holders, while older cohorts are largely inactive. The analysis also notes that the market has held its range despite ongoing STH distribution, which historically often coincided with sharper pullbacks.

Bitcoin whale wallets added 10,000 BTC between April 1 and April 3, lifting whale holdings from about 4.21 million BTC to more than 4.23 million BTC. The purchases were valued at roughly $670 million as BTC traded below $70,000 and hovered near the $66,000 level. The accumulation came as broader sentiment remained bearish and price action stayed mostly in the red for the week.

Crypto markets saw renewed volatility and institutional momentum, including a $440M liquidation event as bitcoin dropped below $66,000. Coinbase said it received conditional OCC approval for a national trust charter, while a long-idle wallet last active in May 2014 moved 500 BTC in five transfers. Corporate buying also continued as Metaplanet reported 5,075 BTC purchased in Q1 2026, lifting holdings to 40,177 BTC.