Bitcoin slips 2% to $90,000 level on ETF outflows

After recent inflows of $1.2 billion, Bitcoin ETFs saw a modest $243 million in outflows, but underlying demand remains strong, says analyst.

• Bitcoin trades above $90,000, showing resilience despite short-term ETF outflows
• Crypto market consolidates; ETH and ADA decline
• Investors advised to stay patient and selective amid range-bound trading

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Bitcoin was trading just above $90,746.01 at around 9.53 am on January 8, down 2.15 percent from the previous day and 5.20 percent gain a week. The world's largest cryptocurrency dipped to a low of $90,713 and peaked at $91,440 in the morning session.

"Bitcoin is holding firm above the $90,000 support zone, showing resilience despite short-term ETF-driven selling. After recent inflows of $1.2 billion, Bitcoin ETFs saw a modest $243 million in outflows, but underlying demand remains strong.

"Accumulator addresses increased holdings to around 310,000 BTC this week, up from roughly 249,000, while exchange supply has dropped to nearly 13.7%, one of the lowest levels since 2018. However, for price action to turn bullish, BTC needs sustained buying above $93,000, and the U.S. jobless claims data scheduled for today could be a key catalyst," said Akshat Siddhant, Lead Quant Analyst, Mudrex.

Other crypto tokens, too, were volatile. ETH was down 3.68 percent, ADA 3.52 percent, SOL 1.77 percent, XRP 5.01 percent, and Tether was 0.03 percent down in the past 24 hours.

Check out the cryptocurrency prices on January 8 as of 9.53 am

Why is Bitcoin up? 

According to Avinash Shekhar, Co-Founder & CEO, Pi42, the crypto market is entering a phase of consolidation as we move further into the year. Bitcoin’s recent move back toward the low $90,000 range reflects a cooling period after strong momentum, with market participants closely tracking how prices behave around key technical levels. This phase is helping establish a more stable base for the next directional move.

"For investors, this is a time to stay selective and patient. Long-term participants can consider phased allocations rather than lump-sum entries, while active traders should rely on clear confirmations and disciplined position sizing. Maintaining flexibility and liquidity will be essential as price discovery continues across major digital assets,” said Shekhar.

What’s happening in the crypto market?

WazirX founder Nischal Shetty said,  “Over the last 24 hours, crypto markets have remained in a consolidation phase, with price action influenced primarily by short-term positioning and market structure rather than fresh macroeconomic catalysts.

Here’s a rundown on what’s happening in the crypto market, according to Shetty:

• Bitcoin met resistance near recent highs, triggering liquidations and reinforcing a cautious trading environment where momentum has yet to re-emerge. This behavior reflects hesitation rather than deterioration, as participants wait for clearer directional signals. 
• Broader risk sentiment has been shaped by elevated geopolitical uncertainty, which has moderated risk appetite across global asset classes. In crypto markets, this has led to range-bound trading rather than sharp sell-offs, suggesting a relatively balanced market state. 
• Institutional and regulatory developments have remained in focus, with policy and index-related decisions supporting sentiment in crypto-linked equities and highlighting the growing influence of governance frameworks on capital flows into digital assets. 
• Within the crypto market, performance continues to be led by large-cap assets, while activity among smaller tokens has been selective. This pattern suggests internal rotation rather than broad directional conviction, reflecting a preference for liquidity, resilience, and market depth amid limited macro visibility. 
• Ethereum, currently trading around $3,155, continues to reflect broader market conditions, remaining range-bound as consolidation persists across global exchanges. Price action is largely driven by key technical levels and positioning flows, pointing to subdued near-term momentum. The RSI near 50 signals neutral strength, with $3,000 acting as a key support zone, while resistance around $3,250 continues to limit upside in the short term.