Market dynamics continue to paint a bullish picture for bitcoin although Iran-related developments and DeFi hacks dominate headlines.
US-listed spot ETFs pulled in $663 million on Friday, the most since Jan. 15. Total inflows reached $996 million last week, up from $786 million the week before, according to data source SoSoValue. This points to strong institutional interest in the largest cryptocurrency.
For a meaningful price increase to occur, it is a trend that must be sustained.
“ETF flow regimes provide a secondary reading: Sustained inflows signal structural demand, while intermittent flows indicate tactical positioning where consistency matters more than size,” 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 largely remained stable over the past 24 hours. Similar patterns are evident in ether (ETH), XRP (XRP), Solana (SOL) and other major tokens.
DeFi platform Aaves AAVE token is down 1% to $90 as the protocol faces collateral damage from the weekend hack of KelpDAO. The DeFi dominance rate, which measures the share of DeFi coins in the total crypto market capitalization, has remained unchanged at around 3%.
“The pressure on the leading cryptocurrency is associated with negative stock market reactions to news about Iran, which has reduced risk appetite. BTC has lagged stocks significantly in recent days, building potential but not yet moving to realize it,” Alex Kuptsikevich, chief market analyst at FxPro, said in an email.
According to recent reports, the United States attacked and seized an Iranian cargo ship that was trying to circumvent restrictions at Iran’s ports.
Meanwhile, traders are actively building short positions and betting against a breakout. This could fuel a “short squeeze” if prices hold steady, forcing traders to hedge bearish bets and potentially push up spot prices. Pay attention!
Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today. For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”
What is trending
Today’s signal
The chart shows weekly price swings in 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 level recorded in April.
SOL has remained below this level for 11 consecutive weeks after falling below it in early February. In technical analysis, a level that previously served as “support,” a price floor where buying interest tends to emerge, often becomes “resistance” once it’s broken. This means traders who previously bought around that level may now look to sell if prices repeat it, limiting upside momentum.
The fact that SOL has yet to climb back points to continued bearish sentiment and the potential for deeper losses. The next major support is seen directly at $50.
A strong move above this level, supported by an increase in trading volume, is needed to negate the bearish outlook.
