On January 5, Bitcoin (BTC) surpassed $94,000, marking its highest level since December 10. This surge contributed to an increase of nearly $100 billion in the total crypto market capitalization within 24 hours. The rally was supported by strong inflows into spot Bitcoin ETFs, with approximately $471 million in net inflows recorded on January 2, led by BlackRock's IBIT. Bullish derivatives positioning and favorable macro conditions also played a role. The increase in ETF demand coincided with the return of institutional flows after year-end consolidation. Derivatives markets amplified the rally, with options traders focusing on upside calls around the $100,000 strike. Over $438 million in short positions were liquidated, further driving the price increase.

On January 5, Bitcoin (BTC) surpassed $94,000, marking its highest level since December 10. This surge contributed to an increase of nearly $100 billion in the total crypto market capitalization within 24 hours. The rally was supported by strong inflows into spot Bitcoin ETFs, with approximately $471 million in net inflows recorded on January 2, led by BlackRock's IBIT. Bullish derivatives positioning and favorable macro conditions also played a role. The increase in ETF demand coincided with the return of institutional flows after year-end consolidation. Derivatives markets amplified the rally, with options traders focusing on upside calls around the $100,000 strike. Over $438 million in short positions were liquidated, further driving the price increase.