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

Despite concerns over Iran and DeFi hacks, market trends suggest a bullish outlook for bitcoin, with BTC currently trading at $78,382.32. U.S.-listed spot ETFs saw significant inflows of $663 million on Friday, reaching a total of $996 million for the week, indicating strong institutional interest. For a substantial price increase, this trend must be sustained. According to Timothy Misir, head of research at BRN, 'Consistency is more important than magnitude when it comes to ETF flow regimes, as sustained inflows signal structural demand, while intermittent flows indicate tactical positioning.' Bitcoin's price has remained relatively stable over the past 24 hours, with similar patterns observed in other major tokens such as ether, XRP, and Solana. However, Aave's AAVE token has dropped 1% to $90 due to the KelpDAO hack. The DeFi dominance rate remains steady at around 3%. The pressure on bitcoin is linked to negative reactions in stock markets to news about Iran, which has reduced risk appetite. Alex Kuptsikevich, chief market analyst at FxPro, notes that BTC has lagged behind equities in recent days, building potential but not yet realizing it. Traders are actively building short positions, which could lead to a 'short squeeze' if prices hold steady, potentially pushing spot prices higher. In other news, the U.S. attack on an Iranian cargo ship has further reduced risk appetite. The chart for Solana shows a notable level at $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, with the next major support seen at $50.