Analyst: Crypto Market Still in Consolidation Phase, Institutional Demand Yet to See Structural Shift

On January 9, The Block reported that Bitcoin ETFs posted a net outflow of $398.95 million yesterday, pushing the cumulative net outflow over the past three trading days to $1.12 billion. Three consecutive days of outflows have nearly erased the net inflows from the first two trading days of the year. Nick Ruck, Managing Director at LVRG Research, noted: “The recent outflows from Bitcoin ETFs stem primarily from portfolio rebalancing, profit-taking on rebounds, and short-term caution amid market consolidation—not a fundamental shift in institutional demand. The crypto market remains in a sideways phase, with Bitcoin holding above $90,000, supported by potential ongoing institutional accumulation.” Ruck added: “Traders should closely monitor ETF fund flow trends, Bitcoin’s key resistance level around $95,000, and macro signals like shifts in Fed policy to assess potential breakouts or further volatility.”