Bitcoin Nears $79K for Highest Weekly Close Since Jan

Trading data showed BTC/USD recovering earlier losses and trading near $79,000 into the weekly close. A finish above $78,670 would be Bitcoin’s strongest weekly close since late January. US spot Bitcoin exchange-traded funds recorded nearly $630 million in inflows on Friday, providing fresh buying pressure.

The market reaction followed reports of accelerated diplomatic moves toward a potential US-Iran peace agreement that supported risk assets on Friday. On Sunday, former President Donald Trump posted on his social account that he “can’t imagine that it would be acceptable,” injecting political uncertainty around the diplomatic developments.

Trader and analyst Michaël van de Poppe wrote on social media that Friday’s ETF inflows could continue and pointed to the $79,000 area as a level to clear. “I don’t think this will slow down in the coming week and that’s probably why we’re seeing a relatively shallow consolidation taking place,” he added. He outlined $86,000–$88,000 as a first resistance area and $92,000–$94,000 as a further range.

Other market participants flagged technical risks tied to clustered orders and potential liquidity grabs above recent highs. Crypto Tony warned that price could be pushed up to take high liquidity and then sold into, writing that he was “starting to see a build of liquidity form below, but a take of the high liquidity and using that to dump.”

Trading account JDK Analysis described the setup as “typically bearish,” noting fresh long positions opening into the highs while price showed signs of absorption and failed to push meaningfully higher despite aggressive buying.

Traders will monitor whether ETF inflows maintain momentum and whether Bitcoin can close the weekly candle above the late-January threshold. Market participants continue to watch order books and liquidation maps for signs of directional pressure. All investments carry risk and readers are advised to conduct independent research.