NextBlock pumps $3M into Soda Labs for blockchain privacy push
NextBlock invests $3M in Soda Labs to advance programmable blockchain privacy and scale Soda Bubble across multiple networks.
Bitcoin climbed above $81,000 on Monday after a volatile week. ETF inflows and the Trump-Xi summit are in focus this week.
On Monday, Bitcoin (BTC) moved back above $81,000, up 1.29%, following a volatile week. The recovery occurred as traders focused on the upcoming Trump-Xi meeting in Washington this week.
Bitcoin weathered the setback from the CLARITY Act's failure and the Federal Reserve's rate hike on Wednesday, the first such increase since 2023, which had exerted pressure. The cryptocurrency also rose to nearly $82,000 after a week that saw similarly erratic ETF inflows.
Spot Bitcoin ETFs barely managed to stay in positive territory last week. Ether funds saw their four-week streak of inflows come to an end. The vote on the CLARITY Act, along with a stalled Senate bill on crypto token rules and the Fed rate hike, rattled markets.
Over the weekend, Bitcoin reached $80,000 but later dipped due to Houthi strikes on Riyadh, which rattled markets ahead of the reopening of oil, bond, and equity trading. By Monday, Bitcoin had recovered, gaining 1.29% as Asian stocks rose and oil prices fell on optimism about Iran diplomacy.
Trader attention now turns to a busy week. The Trump-Xi summit is scheduled for Wednesday, while Iran has yet to respond to pressure from Saudi Arabia and China. Additionally, the Fed has indicated at least one further rate adjustment this year.
Any of these factors could shift market sentiment and influence ETF flows, particularly given Bitcoin's current price above $80,000.
Last week, Bitcoin funds required a rally on Friday to remain positive, affording little buffer against further declines.
The key question is whether this week's inflows can sustain that momentum.
A new geopolitical disruption could quickly reverse the trend as Bitcoin approaches $82,000.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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