Bitcoin exchange-traded funds attracted $1.7 billion in net new capital over the past week, marking the largest weekly inflow on record. A single-day injection of $843.6 million on January 15 propelled demand and absorbed sell-side pressure, according to data from leading custodians. This unprecedented institutional participation removed liquidity from trading venues, underpinning the sharp change in market dynamics and lifting spot demand toward a fresh breakout.

After breaking through the long-held resistance band between $94,500 and $96,000, that same range has flipped into critical support. Trading volumes within this zone have doubled compared to levels seen in December, reflecting aggressive buying by short-term holders. On‐chain data from Glassnode shows exchange balances have fallen to roughly 1.8 million BTC—the lowest since 2017—indicating a sustained shift of coins into long‐term storage and reinforcing the strength of this newly established base.

Momentum indicators across major exchanges have turned positive after a two-week consolidation, with the relative strength index climbing back above neutral territory. Cooling inflation prints in the U.S. and stable crypto funding rates have further reduced risk aversion, enabling Bitcoin to maintain strength above the former ceiling. Market strategist Tom Lee’s projection for an all-time high near $126,000 by year-end gains traction as structural dynamics favor continuation, provided the $94,500–$96,000 support holds and ETF inflows remain robust.