Morgan Stanley's Bitcoin ETF attracted $31 million in inflows on its first day of trading.

CoinDesk reported that the U.S. March CPI report is due Friday, with consensus expectations calling for headline inflation to rise to 3.4% year over year from 2.4% in February. Bitcoin markets have shown little concern. Options pricing implies roughly a 2.5% move, while the BVIV index tracking 30-day implied volatility has slid to 46.5%—its lowest level since Jan. 31—as many traders view the release as unlikely to be market-moving. The CPI print is in focus as energy prices have jumped amid war-driven shocks tied to Iran. U.S. gasoline prices climbed above $4 per gallon in March, the first time since August 2022. Analysts say a softer reading could revive expectations for rate cuts, while a hotter print would strengthen the "higher for longer" rate outlook, creating an asymmetric impact across crypto markets.

Spot bitcoin ETFs recorded net outflows, even as Morgan Stanley's MSBT attracted $31 million in inflows.

Cango said it sold 2,000 Bitcoin in March for roughly $137 million, using proceeds to reduce debt backed by its BTC holdings and streamline its mining business as it pivots toward energy and AI infrastructure. The company reported an average sale price of $68,000 to $69,000 per BTC. As of March 31, Cango still had $30.6 million in Bitcoin-backed loans outstanding and held 1,025.69 BTC in treasury. Operationally, Cango said a leaner mining model pushed its Bitcoin production cost down to $68,215 per coin, a 19.3% drop from its fourth-quarter 2025 average cash cost of $84,552. Management said the focus is shifting from pure growth to protecting margins and managing Bitcoin price volatility. Cango also disclosed additional financing: members of its leadership team made a $65 million equity investment, and DL Holdings provided a $10 million convertible bond. The company said it intends to continue deleveraging as the transition toward energy and AI infrastructure progresses. On scale, on-chain data cited from BitcoinMiningStock places Cango sixth by hashrate among major miners, with 27.9 EH/s. Cango reported total operational hashrate of 37.01 EH/s for the period, comprising 27.9 EH/s from its own mining operations and 9.02 EH/s from hashrate leasing. Markets initially reacted positively, with Cango shares up 3.44% in Wednesday premarket trading. The stock remains down about 72% year to date, according to Google Finance. The move reflects a broader trend among listed crypto miners prioritizing balance-sheet repair amid tight financing conditions. MARA Holdings said in March it sold about $1.1 billion of Bitcoin and used the proceeds to repurchase convertible debt at a discount. Strategy took the opposite approach, disclosing on Monday an additional $330 million Bitcoin purchase at an average price of $67,718 per coin, even as its first-quarter unrealized losses exceeded $14.5 billion.

Monitoring data from Hyperliquid dated April 9 shows the wallet tagged "Strategy Counterparty" (0x94d3) added to its Bitcoin short, increasing the position by 81.06 BTC in short contracts, worth about $5.209 million. The total short position has expanded to $75.2048 million. The average entry price edged up to $69,181.40, with liquidation set at $79,320.81. The position is currently sitting on an unrealized loss of about $1.8229 million (96.96%), making it the largest BTC short on the Hyperliquid platform. The same address previously opened a sizable opposing short during MicroStrategy's Bitcoin buying spree in December last year, when the position peaked at roughly $120 million.

On April 9, the wallet identified as 'Strategy Counterparty' (0x94d3) substantially increased its Bitcoin (BTC) short position, according to HuoXing Finance, citing Hyperinsight data. The address added 81.06 BTC of short exposure, valued at approximately $5.209 million, elevating its total position to $75.2048 million on Hyperliquid. This averaging-down trade adjusted the average entry price to $69,181.40, with a liquidation price set at $79,320.81. The position currently reflects an unrealized loss of roughly $1.8229 million, or 96.96%, establishing it as the largest BTC short on Hyperliquid. This entity previously established a significant short across major cryptocurrencies in December last year, coinciding with MicroStrategy's large BTC acquisitions, which reportedly peaked at $120 million.

Morgan Stanley's spot Bitcoin ETF, MSBT, got off to a strong start, generating about $34 million in trading volume on its first day, according to Yahoo Finance. More than 1.65 million shares changed hands. The fund finished its debut session at $20.47 a share.

U.S. spot Bitcoin $BTC ETFs saw a combined net outflow of $125 million on April 8, according to SoSoValue. @BlackRock's IBIT was the outlier, posting $40.38 million in net inflows. Spot Ethereum $ETH ETFs also ended the day in the red, recording $18.63 million in net outflows. BlackRock's Staked ETH ETF, ETHB, reported $44.23 million of inflows.

Arkham data indicates the Royal Government of Bhutan has transferred an additional 319.7 BTC, valued at about $22.68 million.