Morgan Stanley has proposed launching a spot Bitcoin ETF with a 0.14% fee, as outlined in its latest S-1 registration statement filed on Friday. The fee would sit one basis point below the Grayscale Bitcoin Mini Trust ETF and 11 basis points under BlackRock's iShares Bitcoin Trust ETF, potentially intensifying price competition among US spot Bitcoin funds.

Strategy accumulated about 45,000 BTC over the past 30 days, marking its quickest 30-day buying pace in nearly a year. Over the same period, other corporate bitcoin treasury buyers collectively purchased under 1,000 BTC, as the sector’s activity and market share concentrated further around Strategy.

US lawmakers unveiled a draft Digital Asset PARITY Act on Friday that would adjust tax rules for digital assets but drew criticism for leaving Bitcoin (BTC) outside key relief. The proposal would exempt certain stablecoin payments under $200 from gain/loss recognition if the token stays within 1% of its dollar peg, and it would let some proof-of-stake participants defer taxes on staking rewards. The Bitcoin Policy Institute urged lawmakers to extend similar treatment to miners and other block-reward recipients.

Bitcoin slid to $65,530 on Friday after trading near $71,300 on Thursday, an 8% drop that coincided with broader risk-off moves tied to US economic uncertainty and the Israel-Iran war. Options pricing on Deribit implied a 53% probability that BTC remains under $66,000 by April 24, while $210 million in leveraged long BTC futures was liquidated and the $18.6 billion monthly options expiry left most calls worthless.

Bitcoin slid more than 6% over the past 24 hours to $65,703, with BTC at $66,023 at press time, as over $102 million in positions were liquidated. Network participation also weakened, with active addresses falling from 938,609 on August 8, 2025, to 655,908 on March 25, 2026. Peter Brandt's chart levels keep attention on the $65,000 area, with $49,000 highlighted as a potential downside target if weekly support fails.

Bitcoin slipped to around $67,500, two days after topping $72,000, as miners moved 5,450 BTC (about $373 million) to centralized exchanges on 26 March. The flow marked a six-day high and adds to short-term downside risk while traders focus on an ascending support that has sparked five rallies since 6 February 2026.

GameStop disclosed that it pledged 4,709 of its 4,710 Bitcoin to Coinbase as collateral for an over-the-counter covered call strategy, rather than selling the holdings. The options carried strike prices of $105,000 to $110,000 per BTC and ran through March 27, 2026, with Bitcoin around $66,000–$67,000 at the time described. The filing also reported a $0.7 million options liability and a $2.3 million unrealized gain, while reclassifying the collateralized BTC into a $368.3 million digital asset receivable as of January 31, 2026.

Bitcoin spot ETF flows have started to stabilize after weeks of outflows, with cumulative inflows recovering by nearly $3 billion since late February. Even so, positioning data indicates many holders remain at a loss, as an estimated average cost basis near $82,000 sits above BTC's roughly $63,000–$69,000 trading band while price action continues to consolidate.