Bitcoin $BTC ( ▼ 0.05% ) is extending its early-2026 rally, supported by the largest wave of ETF inflows in nearly three months and signs that selling pressure from late 2025 has eased. On Tuesday morning, bitcoin was trading near $93,800, marking another day higher in what has so far been a one-directional start to the year.
US-listed bitcoin ETFs recorded $697 million in net inflows on Monday, the biggest daily total since October 7. BlackRock’s iShares Bitcoin Trust $IBIT ( ▼ 0.04% ) led the charge with $372 million of that total, according to SoSoValue. The renewed demand suggests institutional buyers are stepping back in after months of caution.
A rebound, not a breakout yet
Market watchers broadly agree that the move looks more like stabilization than acceleration. Bitcoin and precious metals have both rebounded despite geopolitical noise, including recent developments in Venezuela, but the price action appears driven more by portfolio rebalancing than fresh speculative demand.
Trading volumes remain relatively muted, which raises the risk that the move is still a reflexive bounce rather than a fully confirmed uptrend. The CoinMarketCap Fear and Greed Index sits at 49, its highest reading since early October, signaling improving sentiment but not outright euphoria.
Key levels traders are watching
In the near term, $107,500 is emerging as a critical technical level for bitcoin. A sustained move above that zone would mark a structural shift and open the door to a push toward new all-time highs. Until then, the market is likely to remain range-bound as it tests whether new inflows can translate into durable momentum.
Looking further ahead, some crypto executives believe bitcoin’s next major leg higher could come once the rally in precious metals cools. If gold and silver begin to lose momentum, capital could rotate back into crypto, potentially setting up a stronger move later in the quarter. Estimates for bitcoin’s upside this quarter range as high as $130,000 if conditions align, with more aggressive scenarios dependent on a sharp shift in the broader macro backdrop.