This week witnessed a notable surge in Bitcoin’s price, surpassing $97,000 for the first time in over two months, driven by a combination of favorable economic indicators and a resurgence in inflows into U.S. spot Bitcoin exchange-traded funds (ETFs). As 2026 unfolds, crypto investors seem to be adopting a well-worn strategy focused heavily on allocating funds to Bitcoin ETFs.
On Tuesday, U.S.-listed spot Bitcoin funds garnered approximately $760 million in net inflows, marking the highest single-day total since October. Leading the charge was Fidelity’s Wise Origin Bitcoin Fund (FBTC), which absorbed about $351 million. Other notable performers included Bitwise’s BITB and BlackRock’s iShares Bitcoin Trust (IBIT), both of which also reported significant gains.
This upward trend continued into Wednesday, with data from SoSoValue showing that spot Bitcoin ETFs attracted an additional $843.6 million. This three-day influx, totaling around $1.71 billion, was buoyed by eight out of the twelve funds reporting net inflows. Notably, BlackRock’s IBIT alone pulled in $648 million, demonstrating its appeal among institutional investors.
The renewed interest in Bitcoin was mirrored in its price movements. After lingering below $92,000 for much of the last two months, BTC broke through to reclaim the $94,000–$97,000 range and is now pushing toward the elusive $100,000 mark. This price increase triggered about $700 million in short liquidations, further amplifying market volatility and contributing to the ongoing rally.
Since the launch of spot ETFs in early 2024, ETF flows have become a crucial indicator of institutional sentiment toward Bitcoin. Despite cumulative inflows exceeding $56 billion by mid-January, there was a dip in flows towards the end of December, attributed to typical year-end caution among investors. The recent turnaround underscores a renewed perception of Bitcoin as both a growth asset and a valuable diversification tool, evidenced by its rising price.
Macroeconomic factors also played a significant role in Bitcoin’s recent performance. A softer-than-expected U.S. Consumer Price Index (CPI) reading released on January 13 alleviated concerns regarding aggressive monetary policy tightening, resulting in a more favorable “risk-on” sentiment among investors. Additionally, heightened geopolitical tensions and political uncertainties within the U.S. have led many to seek alternative stores of value, further boosting interest in Bitcoin.
Nonetheless, the market remains cautious due to potential volatility risks, particularly with the possible upcoming U.S. Supreme Court ruling concerning President Donald Trump’s tariffs, which could inject new uncertainties into global financial markets.
At present, Bitcoin is trading at $97,046, reflecting a 2% increase over the past 24 hours, coupled with a daily trading volume of around $67 billion. The price is slightly below its seven-day high of $97,705 and just above its seven-day low of $95,318. With a circulating supply of 19.98 million BTC, Bitcoin’s total market capitalization stands at approximately $1.94 trillion, also showing a daily increase of 2%.
