Analysts: The crypto market remains in a consolidation phase, and institutional demand has not fundamentally changed.

According to Mars Finance, as reported by The Block on January 9th, Bitcoin ETFs saw a net outflow of $398.95 million yesterday, bringing the cumulative net outflow over the past three trading days to $1.12 billion. These three consecutive days of outflows almost wiped out the net inflows of the first two trading days of the year. Nick Ruck, head of LVRG Research, stated, "The recent outflows from Bitcoin ETFs mainly reflect portfolio rebalancing, profit-taking on rallies, and short-term caution during market consolidation, rather than a fundamental shift in institutional demand. The crypto market remains in a consolidation phase, with Bitcoin hovering above $90,000 and supported by potential continued institutional buying." Ruck further noted, "Traders should closely monitor ETF flow trends, Bitcoin's approach to the key resistance level of $95,000, and macroeconomic signals such as changes in Federal Reserve policy to assess potential breakouts or further volatility."