Daily Market Dispatch – April 24, 2026. Bitcoin tests $78,000 as geopolitical uncertainty and central bank decisions loom.

24 Apr 2026, 14:38

Daily Market Dispatch – April 24, 2026 Bitcoin tests $78,000 as geopolitical uncertainty and central bank decisions loom Bitcoin is holding above $78,000 to close out a fourth consecutive week of gains, even as the macro backdrop grows more challenging. Brent crude has climbed above $106 and equity futures are mixed. Gold is heading for a weekly decline, slipping to around $4,692 as rising oil fans inflation fears and keeps rate cut expectations at bay. President Trump has stated he is in no rush to reach a permanent deal with Iran, and the Strait of Hormuz shows few signs of near-term resolution. The week ends with more questions than answers, but the institutional bid underneath Bitcoin has remained largely intact. Bitcoin Bitcoin is trading around $78,500, as it remains on course for a fourth consecutive weekly gain. The $80,100 level is the immediate technical test — Glassnode identifies it as the threshold where recent buyers return to profit and where rallies have historically stalled. Breaking above it cleanly would shift the conversation from recovery to resumption. Spot Bitcoin ETFs have extended their positive streak to eight consecutive days, drawing over $2 billion in net inflows between April 6 and April 22, on top of $1.32 billion in March that reversed a four-month outflow streak. Thursday alone saw $223.2 million in inflows. Cumulative net inflows across Bitcoin ETFs have now surpassed $58 billion, with total assets hovering around $100 billion — a scale of institutional participation that has no precedent in Bitcoin's history. Ethereum & Altcoins Altcoins are trading cautiously in a range-bound session. Ethereum trades around $2,300, XRP edged up to $1.43 and Solana eased to $86. Ethereum ETFs snapped their 10-day positive inflow streak on Thursday, posting $76 million in net outflows, a development worth monitoring given the broader rotation dynamic underway. A sustained altcoin recovery would likely require Bitcoin to clear $80,100 convincingly and geopolitical visibility to improve. Macro & Institutional Oil is the dominant macro story to close the week. Brent is up 1.7% to around $106.88 and WTI near $97.21, both on track for their largest weekly gain since early March. The Strait of Hormuz closure is now entering its third month with few signs of near-term relief. A three-week Israel-Lebanon ceasefire extension was announced Thursday, though Hezbollah representatives were absent from the talks, limiting its market impact. Equity futures are mixed. The Nasdaq is outperforming on the back of strong AI-related earnings. European stocks are slipping 0.4% and the dollar is firming on haven demand. Gold is heading for a weekly loss of around 3%, pressured by the higher-for-longer rate narrative that elevated oil continues to feed. A JPMorgan report published Wednesday adds a quieter but relevant data point. Analysts identified security vulnerabilities and stagnant growth as the primary obstacles to large-scale institutional adoption of DeFi. During periods of stress, capital has rotated toward stablecoins, they say, citing deeper liquidity and faster off-ramps on centralized platforms. Looking Ahead Next week is one of the heaviest on the macro calendar this year. Tuesday brings the Bank of Japan's rate decision alongside U.S. CB Consumer Confidence for April. Wednesday is the main event: the Fed's rate decision and FOMC statement, followed by the press conference, with the Bank of Canada also deciding on the same day. Thursday delivers a simultaneous read from the Bank of England and ECB, Eurozone CPI and unemployment, U.S. Core PCE — the Fed's preferred inflation gauge, initial jobless claims, and the Chicago PMI. Five central banks in three days, against a backdrop of oil above $100 and inflation expectations drifting higher. The macro picture can shift materially in either direction before next Friday. – Iliya Kalchev, Analyst at Nexo’s Dispatch For informational purposes only; not financial or investment advice.

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