Analysis: Institutional investors show insufficient interest in allocating Bitcoin; the situation in Iran becomes a key variable.

CoinFeed reported on April 11th, citing CoinDesk, that while Bitcoin has risen nearly 7% since Sunday, its momentum slowed after reaching the $72,000 range, with institutional funds generally lacking a clear direction. The market faces key uncertainty: the progress of US-Iran negotiations over the weekend. The options market shows that institutions are betting on Bitcoin's upward movement through call options; for example, call options with an $80,000 strike price on Deribit have become popular. Demand for call options linked to the BlackRock Bitcoin ETF (IBIT) remains strong. Furthermore, demand for downside protection remains robust, with no significant decrease in put option allocations. On the macro level, rising energy prices may strengthen expectations of a Federal Reserve rate hike, thus putting pressure on risk assets, including Bitcoin.