Why is crypto up today?
Bitcoin (BTC) pierced $94,000 on Jan. 5, reaching its highest level since Dec. 10 and capping a rally that added nearly $100 billion to the total crypto market capitalization in 24 hours.
The move came as spot Bitcoin ETFs recorded their strongest inflows in three months, derivatives positioning turned aggressively bullish, and macro conditions created space for risk assets to rebound into the new year.
US spot Bitcoin ETFs logged $471 million in net inflows on Jan. 2, led by BlackRock’s IBIT, helping push BTC back over $90,000 into the weekend and setting the stage for today’s breakout.
The ETF demand arrived amid institutional flows returning after year-end consolidation, a January effect following the heavy outflows that defined late…
