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

The current market trends are painting a positive picture for bitcoin, with a price of $77,766.85, despite recent developments in Iran and DeFi hacks making headlines. U.S.-listed spot ETFs saw a significant influx of $663 million on Friday, 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 surge in institutional investment in the largest cryptocurrency is a promising sign. For a substantial price increase to occur, this trend must be sustained. Timothy Misir, head of research at BRN, noted that "ETF flow regimes provide a secondary read: Sustained inflows signal structural demand, while intermittent flows indicate tactical positioning, with consistency mattering more than magnitude." Bitcoin is currently trading just above $75,000 after reaching highs above $78,000 on Friday, with prices remaining relatively stable over the past 24 hours. Similar trends are observed in other major tokens such as ether, XRP, and Solana. The AAVE token of DeFi platform Aave has dropped 1% to $90 due to collateral damage from the KelpDAO hack over the weekend. The DeFi dominance rate remains steady at around 3%. Alex Kuptsikevich, chief market analyst at FxPro, stated that "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 moving to realize it." The latest reports indicate that the U.S. has seized an Iranian cargo ship attempting to bypass port restrictions. Traders are actively building short positions, betting against a breakout, which could lead to a "short squeeze" if prices hold steady, forcing traders to cover bearish bets and potentially driving spot prices higher. For more analysis on today's altcoin and derivatives activity, see Crypto Markets Today, and for a comprehensive list of upcoming events, see CoinDesk's Crypto Week Ahead. A key level to watch is $95.16, the low registered in April, which Solana has remained below for 11 consecutive weeks. This level, previously acting as support, may now become resistance, limiting upside momentum. A strong move above this level, backed by increased trading volumes, is necessary to invalidate the bearish outlook.