Bitcoin funds capture $700 million as institutions place their bets

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What to know: - Institutional investors poured $858 million into crypto funds last week, including more than $700 million into bitcoin products, signaling strong demand for the largest cryptocurrency. - Analysts say a sustained bitcoin daily close above $82,000 could trigger the next leg higher, while support is seen around $80,400. - Sui’s SUI token and XDC Network’s XDC are among the day’s top altcoin gainers, while ether’s unusually tight Bollinger Bands point to a likely large directional move ahead after a prolonged period of low volatility. This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already. Institutional demand for crypto is real, and suggests there may be a sustained bitcoin Investors poured $858 million into crypto funds issued by asset managers like BlackRock and 21Shares last week, extending a five-week inflow streak and marking the strongest weekly total since late April, according to CoinShares. More importantly, bitcoin funds alone pulled in over $700 million, taking year-to-date flows to $4.9 billion. Talk about the demand for the leading cryptocurrency. The catalyst? Improving sentiment around the Clarity Act, according to CoinShares' head of research, James Butterfill. Bitcoin recently traded at $81,000, having narrowly missed the 200-day SMA positioned above $82,000 late Sunday. That's the second such near miss since last week. Prices remain above $80,000, indicating that bulls are simply taking a breather, not retreating. Analysts say the next big leg higher could unfold once prices top $82,000, effectively rising above the 200-day SMA, which is largely seen as a barometer of long-term trends. "The clean next step is a daily close above $82,000 with steady spot demand. Without that, it can chop between $79,000 and $82,000 while macro sets the tone," analysts at Marex said. On the downside, immediate support is seen around $80,400, and the broader demand zone remains between $78,200 and $78,600., according to Vikram Subburaj, CEO of India-based Giottus.com, said in an email. In the broader market, Sui blockchain’s SUI has surged 12% to $1.26 in 24 hours. The rally comes as developers behind the blockchain look to foray into privacy. Adeniyi Abiodun, co-founder and chief product officer of Mysten Labs, the development team behind Sui, posted on X that confidential transactions on Sui will be introduced this year, enabling fee-free privacy-preserving payments at scale. Last week, Nasdaq-listed Sui Group Holdings (SUIG) said that it had staked most of the $108.7 million worth of SUI tokens in its treasury, removing roughly 2.7% of supply from the active market. That likely greased the bullish momentum. The other major gainer is XDC Network’s XDC token, which climbed over 10%. Several other tokens, such as KAS, HASH and ATOM , have gained 5% or more in 24 hours. In traditional markets, U.S. Treasury yields rose as dimming hopes of U.S.-Iran peace deal kept oil prices elevated. Stay alert! Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead." What’s trending - Trump dismisses Iran's reply to peace plan, oil jumps as Hormuz closure persists (Reuters): President Donald Trump's swift rejection of Iran's response to a U.S. peace proposal sent oil prices higher on Monday on concerns the 10-week-old conflict will drag on, keeping shipping through the Strait of Hormuz paralyzed. - Iran warns Europe against sending warships to Hormuz as U.S. talks gap widens (euronews): Iran said Europe should "refrain from making any move that would undermine their interests," arguing that any military intervention in the Persian Gulf would push energy prices higher and create further complications. - Trump aims to press Xi over China’s approach to war in Iran (Bloomberg): The U.S. president is expected to press President Xi Jinping over China’s approach to Iran and hammer out details on a new board of trade when they meet this week in Beijing. - Bitcoin mining pools with 75% of BTC hashrate join open standard for block construction (CoinDesk): The biggest decentralization move bitcoin mining has seen in years just happened quietly, with seven of the largest pools agreeing to back the same open standard. Today’s signal The chart shows ether's (ETH) daily price swings in candlestick format since late 2025. Overlaid are Bollinger Bands, which are volatility bands placed two standard deviations around the 20-day moving average of the price. The gap between upper and lower bands is currently the narrowest since late 2023. In other words, at their tightest in 2.5 years, signaling an extended period of compressed volatility. Such tightening typically reflects a market in equilibrium, with both buyers and sellers unwilling to lead the price action. Such low-volatility phases tend not to persist for long, often resolving into sharper directional moves once bulls or bears reassert dominance. In short: Watch out for a large directional move ahead. More For You

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