Bitcoin Slips Below $78,000 but Weekly Momentum Holds
Bitcoin fell below the $78,000 level on Friday, yet remained on track for a fourth consecutive weekly gain. Continued institutional inflows supported the market, although rising geopolitical tensions and higher oil prices limited further upside.
The world’s largest cryptocurrency was last trading 0.3% lower at $77,794.4 in early sessions.
Weekly Gains Driven by Institutional Demand
Bitcoin briefly climbed above $79,000 earlier in the week and is still set to post a roughly 4% weekly gain, extending its current winning streak.
Data from SoSoValue showed that U.S.-listed spot Bitcoin ETFs continued to attract strong demand, recording nearly $1 billion in net inflows over the past week. This marks one of the strongest inflow periods since January.
Total cumulative inflows into Bitcoin ETFs have now exceeded $58 billion, with assets under management hovering around the $100 billion mark, highlighting growing institutional participation.
Oil Prices and Geopolitical Risks Weigh on Sentiment
Market sentiment remained cautious as tensions in the Middle East persisted, despite a temporary ceasefire extension between Israel and Lebanon.
Concerns surrounding the Strait of Hormuz—a key global oil supply route—continued to dominate investor focus, with ongoing disruptions and military activity increasing uncertainty.
Oil prices stayed elevated, with Brent crude rising above $106 per barrel. This has reinforced inflation fears and placed pressure on risk-sensitive assets such as cryptocurrencies.
Dollar Strength and Broader Market Caution
The U.S. dollar strengthened on Friday amid safe-haven demand, reflecting broader caution across global markets. Equity markets traded in mixed territory, further signaling uncertainty among investors.
A report by Reuters also indicated that internal discussions within the Pentagon included potential measures against allies perceived as uncooperative during the U.S.-Iran conflict, adding another layer of geopolitical risk.
Altcoins Show Mixed Performance
Among major cryptocurrencies, Ethereum declined 1.3% to $2,311.92, while XRP gained 0.7% to $1.43.
Solana edged down 0.5%, whereas Cardano and Polygon both rose more than 1%.
Among meme coins, Dogecoin advanced 1.8%.
