Despite Iran-related news and DeFi hacks making headlines, the market remains bullish for bitcoin, currently trading at $78,797.38. U.S.-listed spot ETFs saw significant inflows of $663 million on Friday and $996 million for the week, indicating strong institutional interest.
For a substantial price increase, sustained inflows are necessary. Bitcoin has held steady above $75,000 after reaching highs over $78,000 on Friday, with similar patterns in other major tokens like ether and Solana. However, the DeFi platform Aave's token dropped 1% to $90 following the KelpDAO hack.
The DeFi dominance rate remains flat at around 3%. Analysts note that negative stock market reactions to Iran news have reduced risk appetite, causing BTC to lag behind equities.
Traders are building short positions, potentially setting up for a 'short squeeze' if prices remain steady. A level of $95.16 stands out in Solana's chart, representing a potential resistance point that could limit upside momentum if revisited.