Just noticed the major alts are posting some solid weekly positive gains right now. BTC sitting around 71.6K with a 7-day pop of about 7%, ETH up 8.67% to 2.21K, and basically everything else in the green over the past week. This is looking like the broadest rally we've seen in a while, honestly.

What's interesting is that the push higher seems to be driven more by derivatives positioning getting unwound than actual fresh spot buying. The rally keeps running into resistance when it tries to make new highs, which tells me traders aren't super confident without some real fundamental catalyst. But the institutional data underneath is actually pretty solid - spot bitcoin ETFs pulled in something like 767 million in net flows last week, third straight week of inflows. That's a real reversal from the bleeding we saw earlier in the year.

The correlation between crypto and gold has been shifting too. Bitcoin's been outperforming gold by over 13% since early March, which is bringing back that "digital gold" narrative that looked dead just a couple months ago. Everyone's watching what the Fed does this week - the hold is basically priced in, but Powell's tone on the dot plot could move things through the rest of April. Oil above 100 and a weakening labor market means they're stuck between their two mandates, and how he explains that could set the direction for risk assets.