Overview
- Bitcoin rebounded from a weekend trough near $86,400 to trade around $88,200–$88,400 early Tuesday, leaving it roughly 4% lower over the past week.
- Analysts cited a convergence of drivers for the pullback, including roughly $1.3 billion in weekly spot ETF outflows, stronger U.S. data that pushed out rate-cut hopes, a rally in the yen, U.S. budget uncertainty, and thin weekend liquidity.
- Spot bitcoin ETFs recorded a small net inflow of $6.84 million on January 26, the first in six sessions, led by BlackRock’s IBIT with $15.93 million.
- Futures open interest near $40 billion and broadly neutral funding rates point to position trimming and liquidity effects rather than a leveraged unwind.
- Gold briefly topped $5,000 an ounce and silver posted its sharpest jump since 2008 as crypto lagged those safe-haven trades, and Japan’s regulator is reportedly weighing crypto as eligible ETF assets with launches possible by 2028.