Overview
- Bitcoin hovered around $77,000 to $78,000 on Friday, repeatedly meeting resistance in the $78,000 to $79,000 zone across multiple venues.
- Futures data show negative funding and rising put demand, and options desks highlight increased downside hedging, with billions in leveraged longs vulnerable if price slips by about $5,000.
- Spot bitcoin ETFs recorded several days of net outflows late this week after a strong April of aggregate inflows, and one tracker reported a small net inflow Thursday as total ETF assets stayed above $100 billion.
- The Federal Reserve kept rates at 3.50% to 3.75% this week in a meeting marked by internal splits, and reports tied US–Iran tensions and oil spikes to weaker risk appetite across crypto.
- On‑chain research and surveys point to improving sentiment and an institutional buy zone near $65,000 to $70,000, though analysts say a clean break over $79,000 could open $86,000 to $88,000 while failure risks a retest of lower support.