The past week has been turbulent for Bitcoin: the largest hack of the Bybit exchange, resulting in losses of over $1.4 billion, concerns over U.S. inflation, and continued outflows from crypto ETFs have led to increased market volatility.

Bitcoin Price: Struggling to Break $100,000

Bitcoin continues to trade below $100,000. The price remained stable until Friday when it plunged following the Bybit hack—early that morning, BTC was priced at $99,262, but it later crashed below $95,000. As of now, Bitcoin stands at $96,750, marking a 0.7% weekly decline.

In the long run, Bitcoin is still 11% below its all-time high of $108,000, reached in January. Some analysts believe the bull run isn’t over and that the market is simply consolidating before another rally—Crypto Twitter even joked that Bitcoin is “boring its way to a million dollars.”

ETF Outflows Continue

U.S. crypto ETFs are experiencing continuous capital outflows. According to Farside Investors, money was pulled from the funds every single day this week, with the worst outflow occurring on Thursday—$365 million left the 10 funds. The other three days saw $60-$65 million in daily outflows.

Last week, crypto ETFs suffered losses after the Federal Reserve signaled that interest rate cuts are being delayed, making investors more cautious about risk assets like Bitcoin.

Institutions Remain Bullish

Despite recent market struggles, investment firm Bernstein remains optimistic about Bitcoin’s future. In a report released Monday, analysts stated that Bitcoin is set for further growth as it continues to be adopted by banks, institutional investors, corporations, and even governments.

Bernstein has made bullish forecasts before, predicting that Bitcoin will reach $200,000 by the end of 2025.

Fold Goes Public on Nasdaq

This week, another Bitcoin-related company went mainstream. Fold, a financial services company offering Bitcoin cashback debit cards, went public on Nasdaq. This marks another step toward broader acceptance of cryptocurrency in traditional finance.

However, despite initial excitement, FLD shares opened at $10, climbed above $13, and then crashed below $7 by Friday, reflecting broader market instability.

DOG Expands to Solana

In other news, DOG•GO•TO•THE•MOON (DOG), the most valuable Bitcoin Runes meme coin, is now available on Solana. A cross-chain bridge allows users to trade it on both networks.

DOG’s pseudonymous creator, Leonidas, told Decrypt that the expansion aims to make Bitcoin-related products more accessible to a wider audience. However, not all Bitcoin maximalists support this move. Currently, DOG has gained 3% in the past 24 hours, but it remains down 72% from its all-time high in December.

Conclusion

This week has demonstrated that the crypto market remains highly volatile, impacted by both technical risks and macroeconomic factors. Despite ETF outflows and inflation fears, institutional investors remain optimistic. The big question now is whether Bitcoin can break through $100,000 in the coming weeks or if the market will continue consolidating before the next bullish breakout.