Market Dynamics Continue to Paint a Bullish Picture for Bitcoin even as Iran-related developments and DeFi hacks dominate headlines.
U.S.-listed spot ETFs brought in $663 million on Friday, the highest amount since Jan. 15. Total inflows reached $996 million last week, up from $786 million the week before, according to data source SoSoValue. This demonstrates strong institutional interest in the largest cryptocurrency.
For a significant rise in prices to emerge, this is a trend that must be sustained.
“ETF flow patterns provide a secondary reading: Sustained inflows signal structural demand, while intermittent flows indicate tactical positioning, with consistency counting more than magnitude,” Timothy Misir, head of research at BRN, said in an email.
Bitcoin is trading just above $75,000 after hitting highs above $78,000 on Friday, according to CoinDesk data. Prices have remained largely stable over the past 24 hours. Similar patterns are evident in Ether (ETH), XRP (XRP), Solana (SOL), and other major tokens.
DeFi platform Aave’s AAVE token fell 1% to $90 as the protocol faces collateral damage from the weekend KelpDAO hack. The DeFi dominance rate, which measures the share of DeFi coins in the total crypto market value, has remained stable at around 3%.
“Pressure on the leading cryptocurrency is linked to negative stock market reactions to news about Iran, which has reduced risk appetite. BTC has lagged stocks significantly in recent days, building potential but failing to realize it yet,” Alex Kuptsikevich, chief market analyst at FxPro, said in an email.
According to the latest reports, the United States attacked and seized an Iranian cargo ship that was trying to circumvent restrictions imposed on Iranian ports.
Meanwhile, traders actively build short positions, betting against a breakout. This could fuel a short squeeze if prices remain stable, forcing traders to cover bearish bets and potentially pushing spot prices higher. Stay vigilant!
Read more: For analysis of current altcoin and derivatives activity, see Crypto Markets Today. For a full list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
What is the trend
Signal of the day
The chart shows weekly price movements of solana (SOL), with each candle showing a full week of trading activity, including open, close, high and low prices.
One level stands out: $95.16, the lowest recorded in April.
SOL has remained below this level for 11 consecutive weeks after falling below in early February. In technical analysis, a level that previously served as “support”, a floor price where buying interest tends to emerge, often becomes “resistance” once crossed. This means that traders who were previously buying around this level may now look to sell if prices return to this level, limiting the upward momentum.
The fact that SOL has yet to move higher indicates continued bearish sentiment and the potential for deeper losses. The next major support is visible directly at $50.
A significant move above this level, supported by an increase in trading volumes, is necessary to invalidate the bearish outlook.
