Despite headlines dominated by Iran-related events and DeFi security breaches, a bullish trend for Bitcoin is evident due to significant inflows into U.S.-listed spot ETFs. On Friday alone, these funds attracted $663 million—the highest since January 15—with total weekly inflows reaching $996 million, up from $786 million the previous week, according to SoSoValue. This indicates robust institutional interest in the leading cryptocurrency.
For a significant price surge, this trend must continue. Timothy Misir, BRN’s head of research, noted via email that “ETF flow regimes provide a secondary read: Sustained inflows signal structural demand, while intermittent flows indicate tactical positioning, with consistency mattering more than magnitude.” Currently, Bitcoin is trading just over $75,000 after peaking above $78,000 on Friday, maintaining its level for the last 24 hours. Similar trends are observed in ether (ETH), XRP (XRP), Solana (SOL), and other major tokens.
Following the weekend’s hack of KelpDAO, the Aave (AAVE) token has fallen by 1% to $90. Meanwhile, the DeFi dominance rate remains steady at about 3%, reflecting the share of DeFi coins in total crypto market value.
Alex Kuptsikevich from FxPro commented that “The pressure on Bitcoin is tied to negative reactions in stock markets due to news about Iran, which has curtailed risk appetite. BTC’s performance has significantly lagged behind equities recently, building potential without yet capitalizing.” Concurrently, U.S. reports indicate a cargo ship linked to Iran was attacked and seized for attempting to bypass port restrictions.
Traders are actively establishing short positions, betting against a breakout. If prices stabilize, this could trigger a “short squeeze,” compelling traders to close bearish bets and possibly driving spot prices up. Stay vigilant!
For further analysis of today’s altcoins and derivatives activity, see Crypto Markets Today. For an upcoming events list, refer to CoinDesk’s ‘Crypto Week Ahead.’
The chart highlights weekly price movements in Solana (SOL), with each candle representing a full week of trading—showcasing opening, closing, high, and low prices.
Notably, $95.16 remains prominent—the April low level. SOL has stayed below this mark for 11 consecutive weeks since early February’s dip. In technical analysis, a price floor that once served as “support” often becomes “resistance” post-breakout. This implies traders who bought at this level might now sell if prices revisit it, capping upside potential.
SOL’s failure to recapture this level indicates persistent bearish sentiment and the possibility of further declines. The next significant support is positioned at $50. A substantial recovery above this threshold, supported by increased trading volumes, would be necessary to counteract the prevailing negative outlook.