Bitcoin Bull Case Gains Momentum with Nearly $1 Billion in ETF Inflows Amid DeFi Uncertainty

The current market trends are painting a positive picture for bitcoin, which is trading at $75,499.37, despite recent developments in Iran and DeFi hacks making headlines. On Friday, U.S.-listed spot ETFs saw an influx of $663 million, the highest since January 15, with total inflows reaching $996 million for the 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 surge to occur, this trend needs to be sustained. According to Timothy Misir, head of research at BRN, 'sustained inflows signal structural demand, while intermittent flows indicate tactical positioning.' Bitcoin's price has held steady above $75,000 after reaching highs of over $78,000 on Friday, with similar patterns seen in other major tokens like ether, XRP, and Solana. However, the AAVE token has dropped 1% to $90 due to the KelpDAO hack. The DeFi dominance rate has remained flat at around 3%. Alex Kuptsikevich, chief market analyst at FxPro, notes that the pressure on bitcoin is linked to negative stock market reactions to news about Iran, reducing risk appetite. Traders are building short positions, betting against a breakout, which could lead to a 'short squeeze' if prices hold steady. The U.S. attack on an Iranian cargo ship has also impacted the market. In technical analysis, solana's weekly price swings show a key level at $95.16, which has acted as resistance since February. A strong move above this level, backed by increased trading volumes, is needed to invalidate the bearish outlook, with the next major support seen at $50.