Bitcoin is back above the $95,000 mark, and this time the move is being supported by something the market likes to see: strong spot demand rather than speculative leverage. On Wednesday, Bitcoin rose to around $95,033, up just over 3% on the day, as U.S. spot Bitcoin ETFs recorded their strongest inflow session in three months.
While Bitcoin is still about 26% below its October 2025 peak near $120,080, the latest rebound has helped stabilize sentiment after weeks of sharp swings and heavy volatility.
Trading activity picks up across the board
Market participation increased notably during the move higher. Bitcoin’s 24-hour trading volume jumped nearly 60% to about $68 billion, signaling renewed interest across both spot and derivatives markets.
According to CoinGlass data, open interest climbed close to 6% to $64 billion, while total derivatives volume surged 29% to roughly $110 billion. When open interest and volume rise together, it usually points to new positions entering the market rather than traders simply closing old ones. In simple terms, leverage is rebuilding after the recent flush, which can amplify price moves in either direction.
Spot Bitcoin ETFs deliver a major tailwind
The clearest source of support came from ETFs. On Jan. 13, U.S. spot Bitcoin ETFs recorded $753.7 million in net inflows, the largest single-day total in three months, based on data from SoSoValue.
Leading the pack was Fidelity’s FBTC, which attracted $351.3 million. Bitwise’s BITB followed with $159.4 million, while BlackRock’s IBIT added $126.2 million. Additional inflows were seen across ARKB, Grayscale’s Bitcoin Mini ETF, VanEck’s HODL, and WisdomTree’s BTCW.
These inflows matter because ETFs involve direct spot buying rather than leveraged bets. Sustained ETF demand reduces available supply on exchanges and often helps cushion prices during pullbacks, especially when retail participation is relatively quiet.
Futures selling pressure cools off
Data from CryptoQuant suggests that selling pressure in futures markets has eased significantly. Bitcoin’s Net Taker Volume, which measures whether buyers or sellers dominate futures order books, has improved sharply, moving from a deeply negative monthly average near -$489 million to around -$51 million.
While sellers still slightly outweigh buyers, the imbalance has narrowed considerably. This shift has gone hand in hand with more stable price action, indicating that traders are becoming less aggressive on the sell side.
Technical picture turns constructive
From a technical standpoint, Bitcoin has repaired its short-term structure. Price is now holding above the 10-day, 20-day, and 50-day moving averages, all clustered in the low $90,000 range. This zone is acting as layered support, and bulls will want to defend it closely.
On the upside, immediate resistance sits near $96,000 to $97,000, where the 100-day moving average comes into play. A clean break and hold above that area would open the door to a test of the psychologically important $100,000 level, near the 200-day moving average.
Volatility may also be returning. Bollinger Bands, which had been tightly compressed, are beginning to widen. With price trading in the upper half of the band, the setup favors continuation as long as support levels hold.
Momentum indicators are supportive but not overheated. The RSI is hovering near 65, showing strength without flashing exhaustion, while the MACD remains in buy territory. Short-term oscillators do suggest brief pauses are possible after the recent push, but no major warning signs have appeared yet.
What traders are watching next
For now, the key question is whether Bitcoin can continue to print higher lows above its short-term averages. Holding that structure keeps upside targets in play, while a break below support would likely send price back into consolidation.
With ETF inflows surging and futures selling pressure easing, Bitcoin’s reclaim of $95,000 looks more than just a short-lived bounce. If spot demand remains strong, the path toward higher levels could stay open in the days ahead.
