Bitcoin Sees Nearly $1 Billion in ETF Inflows, Boosting Bullish Outlook Amid DeFi Concerns

The current market trends are painting a positive picture for bitcoin, with a value of $75,733.28, despite concerns over Iran-related developments and DeFi hacks. U.S.-listed spot ETFs saw an influx of $663 million on Friday, the highest since January 15, with total inflows reaching $996 million last week, up from $786 million the previous week, according to SoSoValue data. This indicates strong interest from institutions in the largest cryptocurrency. For a significant price increase to occur, this trend needs to be sustained. "The flow of ETFs provides a secondary indicator: consistent inflows signal structural demand, while intermittent flows indicate tactical positioning, with consistency being more important than magnitude," said Timothy Misir, head of research at BRN. Bitcoin is currently trading above $75,000 after reaching highs of over $78,000 on Friday, according to CoinDesk data, with prices remaining relatively stable over the past 24 hours. Similar patterns are seen in other major tokens such as ether, XRP, and Solana. The AAVE token of DeFi platform Aave has dropped 1% to $90 due to the protocol's collateral damage from the KelpDAO hack over the weekend. The DeFi dominance rate has remained flat at around 3%. "The pressure on the leading cryptocurrency is linked to negative reactions in stock markets to news about Iran, which has reduced risk appetite. BTC has lagged significantly behind equities in recent days, building potential but not yet realizing it," said Alex Kuptsikevich, chief market analyst at FxPro. According to recent reports, the U.S. attacked and seized an Iranian cargo ship attempting to bypass restrictions on Iran's ports. Meanwhile, traders are actively building short positions, betting against a breakout, which could fuel a "short squeeze" if prices hold steady, forcing traders to cover bearish bets and potentially pushing spot prices higher. For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today, and for a comprehensive list of events this week, see CoinDesk's Crypto Week Ahead. The chart shows weekly price swings in Solana, with one level standing out: $95.16, the low registered in April. SOL has remained below that level for 11 consecutive weeks after dropping below it in early February. In technical analysis, a level that previously acted as support often becomes resistance once it is broken, meaning traders who previously bought around that level may now look to sell if prices revisit it, limiting upside momentum. The fact that SOL has not yet climbed back points to sustained bearish sentiment and potential for deeper losses, with the next major support seen at $50. A strong move above that level, backed by a surge in trading volumes, is needed to invalidate the bearish outlook.