SnapShot 254

Hello SnapShotters,

The 'peace rally' faced a reality check early this week as a diplomatic deadlock in Islamabad initially sent BTC retreating from $74,000 to $71,000.

By Tuesday, despite an active US naval blockade in the Strait of Hormuz, crypto assets rallied following a 'cool' Producer Price Index (PPI) print. BTC hit a 70-day high of approximately $76,120 before stepping back to $74,000, while ETH hit a two-month peak of $2,400.

The short-lived breakout may signal persistent bearish positioning by the retail market, but active discussions to extend the current ceasefire by another two weeks have provided a counterbalance. These de-escalation hopes, alongside strong Q1 earnings from financial giants, have also sent indexes like the S&P 500 and Nasdaq to fresh highs. 

As of mid-week, spot BTC ETFs recorded total net outflows of $291.11 million, reversing last week’s positive momentum. BTC’s dominance dipped slightly to about 59.8%, as altcoin trading volume hit a three-month high.*

The week’s institutional charge is led by Strategy (MSTR) which bolstered its 'perpetual yield' model with the purchase of 13,927 BTC for approximately $1 billion. Joining the momentum, USDT issuer Tether added another $70 million in BTC to its reserves.

Let’s dive into the week’s top stories.

Disclaimer: Past performance is not a reliable indicator of future results. The value of crypto assets can fluctuate. 

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more.

News Snaps

🏦 Goldman Sachs Files for 'Layered' Bitcoin Income ETF

The Goldman Sachs Bitcoin Premium Income ETF seeks exposure through existing BTC ETPs like BlackRock’s IBIT and generates yield by selling call options, unlike spot ETFs that hold BTC directly.

🇯🇵 Japan Cabinet Approves Classification of Crypto as Financial Products

The reclassification of crypto assets as financial products could take effect by the 2027 fiscal year if passed, potentially opening the door for domestic firms to offer crypto ETFs and other regulated investment vehicles.

🇹🇭 Thailand Moves Toward Spot BTC and ETH ETF Approval 

The Thai Securities and Exchange Commission launched a public consultation on a framework that would allow mutual funds to invest directly in spot Bitcoin and Ethereum ETFs.

🇫🇷 Paris Blockchain Week 2026: The 'Institutional Bridge' Solidifies

Held at the Carrousel du Louvre, Paris Blockchain Week (PBW) 2026, focused on real-world asset (RWA) tokenization, Europe’s MiCA regulation standards, privacy tech, and more.

What’s Ahead

📅 19 April: Two-Year Anniversary of the Fourth Halving

The date marks exactly two years since Bitcoin’s block reward was slashed to 3.125 BTC on 19 April 2024.

Number of the Week

Source: CoinDesk

Chart of the Week

BTC and ETH Futures Open Interest (OI) Rebound

The crypto market is re-leveraging as risk appetite returns. As of 12 April, BTC open interest (OI) powered up 16.8% to $54.8 billion, while ETH OI jumped 19.5% to $32.4 billion. 

This week-over-week expansion in outstanding contracts suggests traders are positioning for a high-volatility breakout, in contrast to the cautious deleveraging seen throughout Q1.

As of 12 April 2026

Sources: CoinGlass, Crypto.com Research

Research & Insights

Crypto Card Spending Defies Global Trends

Crypto users are maintaining stronger spending confidence than the average consumer, according to an uptick in the 2025 Crypto.com Card Spending Index.

Despite a downward trend in the OECD Consumer Confidence Index and BTC’s price performance during that year, card usage showed sustained growth, driven by robust adoption and pro-crypto policies.

Clothing & Footwear represented the highest spending ratio growth, followed by Housing & Household Goods and Transport.

Ready to see exactly how the crypto class is making use of their money?

Read the full 2025 Consumer Spending Insights report here.

Crypto Trivia

Why is an original physical copy of The Times newspaper from 3 January 2009, expected to fetch over $200,000 at the Bitcoin 2026 auction in Las Vegas?

A) It contains a hidden private key in the crossword section

B) Its front-page headline was embedded into Bitcoin’s Genesis Block

C) It’s signed by three of the original cypherpunks

Find the correct answer at the end of this newsletter.

NFT Spotlight

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Launching 22 April on Earth Day, this latest drop by SYNTHTOPIA introduces 999 primordial entities known as the Muses, each embodying the qualities of attraction and harmony.

Collectors can participate in exclusive NFT airdrops, earn BIOSYNTH token rewards, and join holder-only events.

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Byte Sized

The world’s first meme coin started as a joke… and now it’s become a billion-dollar asset. Want to know more?

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Security Tips

Musician Loses Bitcoin After Downloading Fake Ledger App

An American singer lost 5.9 BTC after downloading a fake Ledger app and entering his seed phrase. He reportedly installed the imposter app from the App Store on a new computer, unknowingly granting access before the scammers drained his retirement fund.

Ledger users have long been targets of phishing emails, fake support outreach, and other deceptive tactics. In past cases, criminals have even mailed physical letters urging customers to disclose their seed phrases. This fake app served the same purpose: once the seed phrase was entered, attackers gained full control of the wallet and emptied it.

How to Keep Funds Safe:

• Only download wallet apps from official websites or verified app stores
• Never enter your seed phrase into an app unless you’re certain it’s legitimate
• Verify the app publisher, website URL, and user reviews before installation

Crypto Trivia Answer

B) Its front-page headline was embedded into Bitcoin’s Genesis Block ✅

Satoshi Nakamoto famously included the headline 'Chancellor on brink of second bailout for banks' in the first-ever Bitcoin block, which acted as both a timestamp and a permanent critique of the centralised banking system.

That's it for this week's SnapShot. Want more? Find out what’s trending in the crypto world.