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3d ago

Bitcoin Wavers Around $90,000 After ETF Outflows and $470 Million in Liquidations

A reversal in U.S. spot ETF demand, coupled with a wave of long liquidations, left the market consolidating near the $90,000 mark.

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Overview

  • Bitcoin briefly topped the mid-$90,000s earlier this week before slipping below $90,000 on Thursday and then edging back above that level.
  • After more than $1.5 billion of early-week inflows, U.S. spot bitcoin ETFs logged $243 million in net outflows on Tuesday and about $486 million over two days.
  • Flows showed issuer rotation, with BlackRock’s IBIT taking in roughly $228 million as Fidelity’s FBTC (-$312 million) and Grayscale’s GBTC (-$83 million) recorded redemptions.
  • Derivatives markets saw roughly $460 million to $478 million in 24-hour liquidations, with over 90% hitting long positions, according to CoinGlass.
  • Weak U.S. private-sector jobs data (41,000 in December versus a 50,000 estimate) and a U.S. Supreme Court tariff ruling due January 9 are in focus as potential volatility catalysts.