Analyst: The crypto market is still in a consolidation phase, and institutional demand has not undergone a fundamental change.

On January 9, according to The Block, Bitcoin ETFs experienced a net outflow of $399.85 million yesterday, with a total net outflow of $1.12 billion over the past three trading days. The three consecutive days of capital outflows nearly offset the net inflow during the first two trading days of the year. Nick Ruck, head of LVRG Research, stated: “The recent capital outflows from Bitcoin ETFs mainly reflect portfolio rebalancing, profit-taking from rebounds, and short-term cautious sentiment during market consolidation, rather than a fundamental change in institutional demand. The crypto market remains in a consolidation phase, with Bitcoin hovering above $90,000, supported by potential ongoing institutional accumulation.” Nick Ruck pointed out: “Traders should closely monitor ETF capital flow trends, key resistance levels near $95,000 for Bitcoin, and macroeconomic signals such as changes in Federal Reserve policies to assess potential breakouts or further volatility.”