April 10, 2026 Cryptocurrency Market Daily

U.S.-Iran Ceasefire + CPI Data Released, Market Enters Critical Crossroads
The two biggest variables today have both materialized.
First, geopolitics. On April 8, the U.S. and Iran reached a two-week temporary ceasefire agreement, causing oil prices to plummet over 13% instantly, with Brent crude dropping to $94.80, and the Dow Jones soaring over 1,000 points in a single day. This news significantly improved market sentiment, and Bitcoin (BTC) rebounded, currently trading at $72,139, while Ethereum (ETH) remains around $2,190.
But the good times didn't last long. Today, the U.S. March CPI data was released, with an annual growth rate of 3.3%, hitting a new high since May 2024, and core CPI rising 3.1% annually. The main reasons are the Iran war pushing up energy costs and the ongoing transmission effects of tariffs. This marks the 22nd consecutive month that CPI has exceeded the Fed’s 2% target.
The Federal Reserve currently maintains interest rates between 3.50% and 3.75%, and is likely to cut rates only once in the second half of this year. The hot inflation data further dashed expectations of an early rate cut, leading to cautious short-term market reactions.
There has also been significant progress on regulatory fronts. The SEC and CFTC jointly released a classification framework for digital assets this week, dividing tokens into five categories: digital commodities, digital collectibles, digital tools, stablecoins, and digital securities, explicitly clarifying which are not securities for the first time. Meanwhile, the SEC proposed the Reg Crypto draft, allowing new projects to raise up to $5 million, and mature projects up to $75 million annually, with simplified disclosure procedures. This is the most detailed U.S. crypto regulatory framework in years.
Current situation: the ceasefire provides a brief respite, but CPI data suppresses expectations of rate cuts. Whether BTC can hold the $72,000 support depends on how the market digests CPI tonight. The $2,000 level remains a key defensive line for ETH below.
At this stage, avoid chasing highs; wait for the market’s secondary reaction after digesting inflation data before deciding whether to increase positions.
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