Key Insights:
- Bitcoin price rose to a three-month high and hit $94,866.
- Spot Bitcoin ETF showed renewed optimism with the highest inflows in a single day since.
- October data from SoSoValue showed that these funds pulled in a combined $697.25 million in fresh capital.
Bitcoin price almost hit $95,000 on Tuesday, its highest level in about six weeks.
At the same time, the US Spot Bitcoin ETF saw more action with the funds attracting their biggest single-day inflows on Monday since early October.
However, derivatives data tells a more restrained story. CryptoQuant says total open interest is hovering around $31.4 billion. That’s still about 34% below the October 10 peak of $47.8 billion.
Bitcoin Price Nears $95,000
Rising demand for the US Spot BTC ETF pushed Bitcoin price up to reach $94,866, just shy of $95,000.
Network economist Timothy Peterson stood out with a notably upbeat view. He pointed to historical patterns that, in his view, continue to support the bulls.
Looking at long-term data, Peterson explained that Bitcoin has now posted three straight months of losses. Since 2015, he said, that pattern has appeared only nine times.
What followed, according to his analysis, tends to favor higher prices. One month after such a streak, Bitcoin USD price ended up in positive territory about two-thirds of the time.
The few exceptions, he added, all occurred in 2018 and coincided with the final phase of that bear market.
New positions are helping to push prices higher. Even so, overall investor exposure is still far below the levels seen at the last market top. That gap continues to shape how traders view the current rally.
Since January 2, the climb has come with a clear imbalance in the order book. Data from CoinGlass shows heavier sell pressure at both 5% and 10% away from the current price, a sign that sellers still hold the upper hand.
At the same time, the Coinbase Premium has stayed mostly negative, pointing to weak spot demand from U.S. buyers.
However, the tone looks different in the options market. Here, sentiment has started to improve. The seven-day 25-delta skew, which reflects the cost of downside protection, recently turned positive.
That shift suggests that the Bitcoin price rebound has reduced the urgency for bearish hedges. Meanwhile, the 30-day skew remains slightly negative.
Still, BTC USD hovering near neutral, according to Deribit data, hinting that longer-term expectations may be starting to stabilize.
According to a Monday update from Singapore-based firm QCP Capital, activity in the options market has started to look more supportive. Positioning improved as demand for downside protection eased across all maturities.
At the same time, traders picked up more than 3,000 call contracts tied to a $100,000 Bitcoin price expiring on January 30, 2026.
Spot Bitcoin ETF Sees $700 Million in Single-Day Inflows
The US Spot Bitcoin ETF started the year on a strong note. On Monday, they recorded their biggest single day of net inflows since early October, reflecting a broader improvement in crypto market mood.
Data from SoSoValue showed that these funds pulled in a combined $697.25 million in fresh capital. Coming on the heels of $471.14 million added last Friday, total inflows for the first two trading days of 2026 have now climbed past $1.16 billion.
Most funds shared in the gains. Nine out of the twelve Spot Bitcoin ETFs posted positive flows on the day. BlackRock’s IBIT led the pack, attracting $372.47 million.
Fidelity’s FBTC followed closely with $191.2 million. Grayscale, Bitwise, Ark and 21Shares, VanEck, Invesco, Franklin Templeton, and Valkyrie also ended the session in positive territory.
Nick Ruck, a director at LVRG Research, says strong ETF inflows show that investors are ready to take more risk. They also point to growing confidence in regulated crypto products as the year starts.
He added that steady demand in major funds suggests sentiment is improving and could help prices stay strong through 2026, especially if institutions keep buying and regulations remain supportive.