Bitcoin Price Forecast: BTC Holds Above $93,000 as ETF Inflows Continue and Strategy Boosts Holdings

Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) experienced significant inflows in early 2026, signaling renewed institutional interest in the crypto market. U.S. spot Bitcoin ETFs recorded $459 million in net inflows from Dec. 29 to Jan. 2, while Ether ETFs added $161 million over the same period.

The inflows were led by BlackRock's iShares Bitcoin Trust (IBIT), which alone pulled in $287.4 million in a single session.

The inflows followed weeks of redemptions and signaled a return of institutional capital after the holiday season. Bitcoin's price rose from the mid-$87,000s to the low-$90,000s and then toward the $92,000–$93,000 zone, with trading activity clustering below previous all-time highs.

Despite the inflows, analysts noted internal market fatigue and weakening on-chain indicators. The 30-day change in Bitcoin's realized capitalization turned negative in late December, marking a shift in the flow-driven dynamics of the market.

Why Did ETF Inflows Increase in Early 2026?

The inflows into Bitcoin and Ether ETFs were driven by a combination of factors, including portfolio rebalancing and the end of year-end tax-loss harvesting. Institutional investors began to reallocate capital back into crypto exposures as balance sheets reset for 2026.

The inflows were also supported by macroeconomic factors, including geopolitical developments such as the U.S. operation in Venezuela. These events reinforced Bitcoin's role as a geopolitical hedge and portable reserve asset.

The timing of the inflows was also influenced by the calendar mechanics of portfolio management. Bitcoin underperformed many risk assets in late 2025, prompting allocators to realign weights in multi-asset portfolios.

How Are Institutional Investors Reacting to Bitcoin's Price Action?

Institutional investors have increased their Bitcoin holdings through ETFs, with BlackRock's IBIT and Fidelity's FBTC leading the inflows. BlackRock's IBIT alone accounted for nearly $287 million in inflows, the largest single-day influx since early October 2025.

The inflows have contributed to a modest price increase, with Bitcoin trading around $93,000 as of Jan. 6. The price has risen approximately 9% from the December low and 14% from the November low.

The price action has also drawn attention from companies like Strategy Inc (MSTR), which has continued to accumulate Bitcoin. In late December and early January, MSTR added 1,287 Bitcoin to its holdings, bringing the total to 673,783 coins valued at over $62 billion.

What Do Analysts Say About the Market's Long-Term Outlook?

Analysts remain cautious about the long-term outlook for Bitcoin, despite the inflows and price gains. On-chain indicators suggest that the market is still in a late-cycle phase, with long-term holders realizing losses at an increasing rate.

The market is supported by ETF inflows but lacks strong internal conviction. Analysts warn that time has become the dominant source of pressure, with investors exiting positions not because of fear but because of exhaustion.

Derivatives positioning and options trading also reflect cautious sentiment, with reduced put skew and growing interest in longer-dated upside exposure. While the inflows provide support, sustained price gains will depend on renewed capital formation rather than secondary market demand.

The overall picture is one of a market that is structurally supported by ETF demand but emotionally cautious. Traders are willing to tolerate price consolidation but are unlikely to continue buying if resistance levels are not breached.

The market is currently testing key support levels near $91,500 and resistance near $94,300. A decisive move above the mid-$90,000s could signal a shift toward a trend expansion.