Analyst: The crypto market remains in a consolidation phase, with no fundamental shift in institutional demand

BlockBeats News, January 9, according to The Block, bitcoin ETF saw a net outflow of $398.95 million yesterday, with a cumulative net outflow of $1.12 billion over the past three trading days. The outflows over the past three consecutive days have almost offset the net inflows from the first two trading days of the year.

Nick Ruck, Head of LVRG Research, stated: "The recent outflows from bitcoin ETF mainly reflect portfolio rebalancing, profit-taking after the rebound, and short-term cautious sentiment during market consolidation, rather than a fundamental shift in institutional demand. The crypto market is still in a consolidation phase, with bitcoin hovering above $90,000, while being supported by potential ongoing institutional accumulation."

Nick Ruck pointed out: "Traders should closely monitor ETF fund flow trends, the key resistance level of bitcoin near $95,000, and macroeconomic signals such as changes in Federal Reserve policy to determine potential breakouts or further volatility."