Bitcoin Bullish Outlook Intact as Nearly $1 Billion in ETF Inflows Offset DeFi Concerns

Despite Iran-related news and DeFi security breaches making headlines, the outlook for bitcoin remains positive, with the cryptocurrency trading above $75,000. Institutional interest is strong, as evidenced by U.S.-listed spot ETFs attracting $663 million in inflows on Friday, bringing the total to $996 million for the week. This trend needs to continue for a significant price rally to occur. According to Timothy Misir, head of research at BRN, sustained ETF inflows indicate structural demand, while intermittent flows suggest tactical positioning. Bitcoin's price has held steady over the past 24 hours, with similar patterns observed in other major tokens such as ether and Solana. However, the DeFi platform Aave's AAVE token has dropped 1% to $90 following the KelpDAO hack. The DeFi dominance rate remains flat at around 3%. Alex Kuptsikevich, chief market analyst at FxPro, notes that the pressure on bitcoin is linked to negative reactions in stock markets to news about Iran, which has reduced risk appetite. Traders are building short positions, which could lead to a 'short squeeze' if prices hold steady. The U.S. attack on an Iranian cargo ship has also impacted market sentiment. In technical analysis, Solana's weekly price swings show a key level at $95.16, which has acted as resistance since early February. The fact that SOL has not yet climbed back above this level suggests sustained bearish sentiment and potential for deeper losses. A strong move above $50, backed by a surge in trading volumes, is needed to invalidate the bearish outlook.