Market dynamics continue to paint a bullish picture for bitcoin even as developments related to Iran and DeFi hacks dominate the headlines.
U.S.-listed spot ETFs raised $663 million on Friday, the most since Jan. 15. Total admissions reached $996 million last week, up from $786 million the week before, according to data source SoSoValue. This points to strong institutional interest in the largest cryptocurrency.
For a significant price rally to emerge, it is a trend that must continue.
“ETF flow regimes provide a secondary read: Sustained inflows indicate structural demand, while intermittent flows indicate tactical positioning, and consistency matters more than magnitude,” Timothy Misir, head of research at BRN, said in an email.
Bitcoin is trading just above $75,000 after hitting highs above $78,000 on Friday, according to data from CoinDesk. Prices have remained practically stable over the last 24 hours. Similar patterns are seen in ether (ETH), XRP (XRP), Solana (SOL), and other major tokens.
DeFi platform Aave’s AAVE token has fallen 1% to $90 as the protocol faces collateral damage from the KelpDAO hack over the weekend. The DeFi dominance rate, which measures the share of DeFi coins in the total crypto market value, has remained stable at around 3%.
“The pressure on the leading cryptocurrency is related to negative reactions in the stock markets to the news about Iran, which has reduced risk appetite. BTC has significantly lagged stocks in recent days, generating potential but not yet moving to realize it,” Alex Kuptsikevich, chief market analyst at FxPro, said in an email.
According to the latest reports, the United States attacked and confiscated an Iranian cargo ship that was trying to bypass restrictions in Iran’s ports.
Meanwhile, traders are actively building short positions, betting against a breakout. This could fuel a “short squeeze” if prices hold steady, forcing traders to cover bearish bets and potentially driving up spot prices. Stay alert!
Read more: For an analysis of current activity in altcoins and derivatives, see Crypto Markets Today. For a complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
What is trend?
Today’s sign
The chart shows weekly price swings in solana (SOL), with each candle showing a full week of trading activity, including open, close, high and low prices.
One level stands out: $95.16, the minimum recorded in April.
SOL has remained below that level for 11 consecutive weeks after falling below it in early February. In technical analysis, a level that previously acted as “support,” a price floor where buying interest tends to arise, often becomes “resistance” once it is broken. That means traders who previously bought around that level can now try to sell if prices reach it again, limiting bullish momentum.
The fact that SOL has not yet risen again points to sustained bearish sentiment and the possibility of deeper losses. The next major support is seen directly at $50.
A strong move above that level, supported by an increase in trading volumes, is needed to invalidate the bearish outlook.
