Bitcoin approached $79,000 as markets eyed the highest weekly close since late January. Traders highlighted strong ETF inflows amid US-Iran tensions, though some warned of potential liquidity traps. The cryptocurrency recovered earlier weekly losses by Sunday.
Bitcoin (BTC) pushed toward $79,000 ahead of Sunday’s weekly close, positioning for its strongest finish in over three months. Data indicated that closing above $78,670 would mark the highest level since late January. The recovery erased losses from earlier in the week, buoyed by risk assets after Friday’s optimism over a potential US-Iran peace agreement. US President Donald Trump expressed skepticism on Truth Social about ratifying Iran’s latest peace proposals, stating he “can’t imagine that it would be acceptable.” Despite this, analysts remained upbeat. Trader Michaël van de Poppe noted strong consolidation and Friday’s nearly $630 million inflows into US spot Bitcoin ETFs. “I don't think this will slow down in the coming week,” he wrote on X. Caution persisted among some observers. Crypto Tony pointed to building liquidity below highs, warning of a possible dump after taking high liquidity. JDK Analysis called the setup “typically bearish,” observing fresh longs into highs with price absorption despite aggressive buying. Markets continued to track US-Iran developments amid these mixed signals.
