Headline: Nearly $1B of bitcoin ETF inflows strengthen the bull case as KelpDAO hack rattles DeFi U.S.-listed spot bitcoin ETFs drew heavy interest last week, with nearly $1 billion in inflows powering optimism for a sustained rally even as geopolitical news and a weekend DeFi hack introduced fresh market jitters. ETF flows and prices - According to data provider SoSoValue, U.S. spot bitcoin ETFs pulled in $663 million on Friday — the largest single-day intake since Jan. 15 — bringing total inflows to $996 million for the week, up from $786 million the prior week. The numbers point to growing institutional demand for BTC. - “ETF flow regimes provide a secondary read: Sustained inflows signal structural demand, while intermittent flows indicate tactical positioning, with consistency mattering more than magnitude,” Timothy Misir, head of research at BRN, said by email. - Bitcoin traded just above $75,000 after popping above $78,000 on Friday, per CoinDesk data, and has largely held flat over the last 24 hours. Other major tokens including ether (ETH), XRP and Solana (SOL) showed similar sideways action. DeFi shockwaves - DeFi markets were rattled this weekend when KelpDAO was hacked, producing spillover effects across protocols. Aave’s AAVE token slid about 1% to $90 amid the fallout. - The DeFi share of the overall crypto market — the DeFi dominance rate — has remained roughly flat at 3%, suggesting the sector’s market footprint hasn’t expanded despite episodic losses. Geopolitics and positioning - Market sentiment has also been affected by negative equity-market reactions to Iran-related developments. “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,” Alex Kuptsikevich, chief market analyst at FxPro, said. - Latest reports say the U.S. attacked and seized an Iranian cargo ship allegedly trying to bypass port restrictions. - Traders are also building short positions against bitcoin, a setup that could produce a short squeeze if prices hold — forcing bearish traders to cover and potentially sending spot prices higher. What to watch - ETF flows: Continued steady inflows would strengthen the narrative of structural institutional demand versus one-off tactical bets. - DeFi fallout: Ongoing investigations into the KelpDAO exploit and any contagion effects will be important for DeFi tokens and liquidity. - Geopolitics and risk appetite: Headlines tied to Iran and broader equity market reactions may keep a lid on risk-on moves. - SOL technicals: Solana’s weekly chart highlights the $95.16 level — the April low that has acted as resistance — with SOL trading below it for 11 consecutive weeks after dropping under it in early February. That persistent inability to reclaim the $95 area points to sustained bearish sentiment; the next major support sits near $50. A decisive break above $95 backed by volume would be needed to reverse the outlook. Bottom line: Nearly $1 billion in ETF inflows underpin a bullish case for bitcoin, but geopolitical headlines, short positioning and DeFi security shocks are keeping markets on edge. Continued flows, resolution of the KelpDAO incident, and a stabilizing risk environment will be key signals to confirm a renewed rally. Read more AI-generated news on: undefined/news