Bitcoin consolidates near $78,000 as Arbitrum surges 30% on Robinhood Chain revenue
Bitcoin is consolidating near $78,000 as institutional inflows into spot ETFs resume following a brief pause. Meanwhile, the decentralized finance (DeFi) sector is showing relative strength, with tokens like Uniswap and Curve DAO experiencing significant gains despite a broader cooling in the altcoin market.
Why it matters
The resilience of Bitcoin and DeFi tokens against a backdrop of fluctuating equity markets highlights a decoupling trend that suggests growing institutional confidence in crypto-native assets.
The period of calm has not dented crypto's relative strength, however. Nasdaq 100 futures are down 0.5% since midnight, with bitcoin outperforming equities once again.
Spot bitcoin ETFs’ nine consecutive days of net inflows, attracting roughly $3.04 billion in the longest streak since April, came to an end on Friday with a $202 million outflow. It resumed Monday with $217 million in fresh inflows, according to SoSoValue data.
Altcoins are mixed since midnight, with the Altcoin Season index falling to 26/100 from 34 on Friday, the lowest reading in more than 90 days.
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