Despite large-scale fraudulent outflows, Bitcoin remains at high levels; US developments provide support.

Summary

1. Bitcoin Holding Firm at High Levels

In April 2026, the Bitcoin market temporarily surged to around ¥12.5 million, propelled by the US-Iran ceasefire agreement and steady capital inflows into US spot ETFs. Despite brief sell-offs triggered by major security exploits and caution surrounding US monetary policy, BTC has maintained a resilient trajectory.

2. US Political and Economic Dynamics

Moving forward, geopolitical risks and US policy developments remain the key market drivers. While uncertainties surrounding the US-Iran talks and the upcoming Federal Reserve Chair appointment may act as headwinds, stabilizing US inflation metrics and progress on the "Clarity Act" for regulatory frameworks are expected to provide a strong floor for the market.

3. The Rise of Income-Generating ETFs

Goldman Sachs has filed for a new income-generating ETF that utilizes options trading strategies. This approach effectively turns market volatility into a yield opportunity. The entry of such a major Wall Street institution signals an expanding horizon of diverse investment vehicles that go far beyond simple spot price tracking.

This is Marin Matsushima, a.k.a. Marin, a cryptocurrency analyst at NEX Securities. This time, I'll be reviewing the Bitcoin (BTC) market and discussing future market prospects.

Percentage change in April 2026

In April 2026, the Bitcoin market fluctuated wildly due to the US-Iran situation, but overall it remained firm as concerns about escalating military conflict eased following the ceasefire agreement. At the beginning of the month, the market stagnated as ceasefire negotiations remained at a standstill, but rebounded on the back of lower oil prices and higher stock prices following the two-week ceasefire agreement.

The newly listed Morgan Stanley ETF "MSBT" in the US got off to a good start, and continued capital inflows into the ETF also boosted the market through improved supply and demand.

Subsequently, concerns about high oil prices and inflation resurfaced due to the US blockade of Iranian ports, leading to a sell-off, but the market rebounded on the back of expectations for further negotiations. In the latter half of the day, as US stocks reached record highs on expectations of US corporate earnings, Bitcoin rose to around 12.5 million yen.

Despite profit-taking due to the large-scale fraudulent outflow from Kelp DAO, the difficulties in the US Clarity Act debate, and increased uncertainty about the future of US monetary policy after the FOMC meeting, Bitcoin maintained its high price range.