Bitcoin hits $75k as rally surges, ETFs draw $767M
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- Bitcoin briefly rose above $75,000, driven by derivatives positioning and closure of large $60,000 put positions, before retreating below the $74,400 support level.
- Major cryptocurrencies (Ether, XRP, Solana, Dogecoin, BNB) posted weekly gains of 5%–13%, marking the broadest sustained rally since before the Iran war.
- Spot Bitcoin ETFs attracted $767 million in net inflows last week, the third consecutive week of positive flows after a prior five‑week outflow streak.
- Bitcoin outperformed gold by 13.2% since early March, with the 90‑day correlation shifting from -0.27 to +0.29, reviving the “digital gold” narrative.
- The Federal Reserve meeting is expected to hold rates at 3.5%–3.75% with 95%+ probability, making the dot plot and Powell’s press conference the key risk‑asset catalyst.
- Tokenized assets reached a record $28.9 billion in May, marking the tenth consecutive monthly all‑time high.
- Stablecoins saw their market cap extend to $320 billion, continuing a growth trend.
Why it matters: Investors in spot Bitcoin ETFs benefit from $767 M of net inflows, while traders who placed large put positions face losses as prices fell back below $74,400, and the revived digital‑gold narrative may shift capital from gold to crypto ahead of the Fed’s policy outlook.
