Key Points
- U.S. spot Bitcoin ETFs recorded their largest single-day inflow since October 2025.
- On-chain metrics suggest easing sell pressure amid cautious price consolidation.
U.S. spot Bitcoin (BTC) ETFs saw a strong return of investor capital on Jan. 5, with total net inflows reaching $697 million.
This marked the strongest daily inflow since the market downturn in October 2025 and coincided with a positive start to the year for Bitcoin prices.
Bitcoin gained roughly 7.5% over the past week, supporting renewed interest in exchange-traded products linked to the asset.
Data from SoSoValue showed that BlackRock’s IBIT led all products, attracting $372 million in net inflows, while Fidelity’s FBTC added $191 million.
Spot Ethereum (ETH) ETFs also recorded net inflows of $168 million, reflecting broader institutional participation across crypto-linked funds.
The renewed demand followed a difficult end to 2025, when Bitcoin prices briefly fell near $85,000 and ETFs saw inflows on only a limited number of trading days.
Price Levels and Market Structure
At the time of writing, Bitcoin was trading around $93,800 and remains below the estimated cost basis of coins last moved six to twelve months ago.
Historical data suggests this level often acts as a trend filter, with sustained movement above it associated with stronger market structure.
Analysts note that a failure to hold above nearby resistance could maintain the broader downtrend, while traders continue to monitor levels between $93,000 and $100,000.
On-Chain Indicators and ETF Flows
Recent analysis from Glassnode highlights a gradual improvement in holder conditions, with more coins returning to profit and unrealised losses declining.
Realised losses have also fallen sharply, contributing to reduced forced selling across the network.
The data suggests Bitcoin is transitioning from a correction phase into a narrower consolidation range, supported by improving ETF flows and institutional interest.
Despite these developments, on-chain demand remains measured, and market participants may continue to see volatility and profit-taking as prices attempt to build higher levels.
