Bitcoin (CRYPTO: BTC) has broken above the descending channel that defined the bear trend, yet U.S. spot ETFs bled $291.11 million on April 13 as institutions pull back.

BTC’s Technical Breakout

Bitcoin now tests the 100 EMA at $75,275—the first major EMA test since the breakdown began.

The SAR at $68,721 sits comfortably below, keeping the daily signal bullish. 

The 20 EMA at $70,826 and 50 EMA at $71,005 both sit beneath price and are beginning to slope upward—the first time this alignment has appeared since the peak.

Key support sits at $71,005 (50 EMA), then $70,826 (20 EMA), then $68,721 (SAR). Resistance clusters at $75,275 (100 EMA), then $80,000, then $83,218 (200 EMA).

The ETF Exodus

The ETF data tells a different story. April 13 saw $291.11 million in net outflows—the largest single-day exit in recent weeks.

Fidelity’s FBTC (NYSE:FBTC) hemorrhaged $229.22 million. Ark’s ARKB (NYSE:ARKB) lost $62.89 million. 

Only BlackRock’s IBIT (NASDAQ:IBIT) bucked the trend with $34.70 million in inflows.

The Iran Talks Continue

The U.S. and Iran are still engaged in talks as the two sides work toward a diplomatic off-ramp for the war, a U.S. official told CNN.

“There is continued engagement between the US and Iran and forward motion on trying to get an agreement,” the official said.

The statement comes after a marathon session of negotiations in Pakistan on Saturday between Washington and Tehran failed to produce a breakthrough. 

President Trump said today that Iran had called the Trump administration earlier in the morning. “They’d like to make a deal very badly,” he said.

Meanwhile, Trump’s order to impose a naval blockade on the Strait of Hormuz took effect Monday after Iran’s closure of the critical chokepoint. 

Moreover, Vice President JD Vance accused Iran of “economic terrorism” by closing the strait, defending the U.S. blockade of Iranian ports as a proportional response.

The Crypto Equity Rally

Crypto-related stocks closed higher on Monday. Circle (NASDAQ:CRCL) jumped 12% and Bullish (NYSE:BLSH) rose 7.5%.

Bitcoin climbed 4.9% above $74,000 late Monday, while Ethereum (CRYPTO: ETH) jumped 7.9% to $2,365. 

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