Bitcoin ETF Inflows Surpass $996 Million, Fueling Bullish Sentiment Amid DeFi Concerns

The current market trends suggest a positive outlook for bitcoin, with a value of $78,840.60, despite recent developments in Iran and DeFi hacks. U.S.-listed spot ETFs saw an influx of $663 million on Friday, marking the highest amount since January 15, with total inflows reaching $996 million for the week. This indicates strong interest from institutions in the largest cryptocurrency. For a significant price surge to occur, this trend needs to be maintained. According to Timothy Misir, head of research at BRN, sustained inflows signify structural demand, while intermittent flows indicate tactical positioning. Bitcoin is currently trading above $75,000, after reaching highs of over $78,000 on Friday, with prices remaining relatively stable over the past 24 hours. Similar patterns are observed in other major tokens, including ether, XRP, and Solana. The AAVE token has dropped 1% to $90 due to the KelpDAO hack, with the DeFi dominance rate remaining flat at around 3%. The pressure on bitcoin is linked to negative reactions in stock markets to news about Iran, which has reduced risk appetite. Meanwhile, traders are building short positions, potentially fueling a short squeeze if prices hold steady. The chart for Solana shows a key level of $95.16, which has acted as resistance for 11 consecutive weeks. A strong move above this level, backed by increased trading volumes, is needed to invalidate the bearish outlook. The next major support level is seen at $50, indicating potential for deeper losses if the bearish sentiment persists.