Global markets rebounded as the Middle East ceasefire took effect and inflation pressures eased. Oil prices fell about 14% and the VIX dropped below 20. Combined with lower than expected CPI and a stronger expectation that the Fed will hold rates steady, risk appetite improved significantly, driving a broad rebound in crypto assets and pushing BTC into a higher range of $68,000 to $73,000. Overall, macro uncertainty has eased at the margin, and capital has returned quickly after a short term shock, with the market gradually shifting from hedging to a recovery phase.
Highlights from last week:
- Market focus: The combination of a ceasefire and easing inflation pushed oil prices and volatility lower, supporting a broad recovery in risk assets, with BTC moving higher toward a key resistance level.
- Liquidity: BTC ETFs recorded about $833M in net inflows for the week, marking a recent high, while ETH ETFs also returned to net inflows, with institutional buying regaining dominance after the geopolitical shock.
- On-chain insights: TradFi trading shifted toward high volatility assets such as oil, while DEX activity moved back to leading protocols such as Uniswap. Stablecoin supply remained elevated, with USDC as the main source of growth, and both liquid staking and Aave lending showed structural recovery.
- Derivatives: BTC funding rates turned deeply negative while prices moved higher, indicating crowded short positioning alongside potential short squeeze dynamics. Open interest rose to around $25.3B, options activity shifted toward short dated positioning and volatility selling, and overall volatility declined to a low range.
- Outlook: Key events to watch include PPI, initial jobless claims, the Beige Book, and Paris Blockchain Week, along with token unlocks such as CONX and ABR.
- Institutional update: Gate’s institutional business has delivered solid and steady results. Spot and futures products have outperformed the market overall, while activity among mid- and lower-tier institutional clients has clearly picked up. Demand for funding services continues to recover strongly, with borrowing needs for assets such as ETH and USDT rising markedly. CrossEx has set new all-time highs in both trading volume and deposited assets. On the technical side, WebSocket SBE and AI customer service are being rolled out progressively.
Discover more details → Gate Institutional Weekly: Oil Prices Drop 14%, Uniswap Reclaims Top Spot by Volume (April 6 to April 12, 2026)
Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.
Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.
Gate Team
April 15, 2026
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