Bitcoin Price Faces a Make-or-Break Test at $93.7K as ETF Demand Rises

U.S. spot Bitcoin ETFs pulled in $697M as BTC held above a key $93.7K trendline, setting up a crucial technical test.

Bitcoin Price Faces a Make-or-Break Test at $93.7K as ETF Demand Rises

U.S. spot Bitcoin ETFs pulled in fresh inflows on Jan. 5 as BTC held above a long running uptrend line near $93,700. Together, the flow data and the chart setup put the market between renewed demand and a key technical floor.

Bitcoin ETFs lead, while Ethereum, Solana and XRP also add inflows

U.S. spot Bitcoin exchange traded funds took in $697 million in net inflows on Jan. 5, according to data tracked by SoSoValue. BlackRock’s iShares Bitcoin Trust (IBIT) led the group with a $372 million single day net inflow. The dataset also showed a Bitcoin price near $94,177 and total net assets around $123.52 billion on the same dashboard snapshot.

U.S. Spot Bitcoin ETF Net Inflows. (Source: SoSoValue/X)

SoSoValue data showed spot Ethereum ETFs posted $168 million in total net inflows on Jan. 5. The same update reported Solana spot ETFs drew $16.24 million, while XRP spot ETFs added $46.10 million.

The SoSoValue chart for the period also showed alternating stretches of daily inflows and outflows across recent months, with the latest session landing as a strong positive day for Bitcoin ETF demand compared with several prior negative bars in late 2025.

U.S. Bitcoin ETFs Return to Strong Positive Flow, Farside Data Shows

Meanwhile, Farside Investors also  reported net inflows for U.S. Bitcoin ETF products on Jan. 5, 2026, led by BlackRock’s IBIT and Fidelity’s FBTC.

Bitcoin ETF Daily Fund Flows. (Source: Farside Investors)

Several other funds also posted net additions that day, including Bitwise’s BITB, Ark’s ARKB, Invesco’s BTCO, Franklin’s EZBC, Valkyrie’s BRRR, and VanEck’s HODL. The table showed no daily change for Grayscale’s GBTC.

The dataset also showed mixed flows in late December, followed by stronger positive sessions in early January. It listed management fees by product, including a higher fee for GBTC than most peers, and it showed cumulative totals across the listed funds.

BTC Defends Rising Trendline as Breakout Versus Pullback Battle Tightens

BTC is still trading above a long rising support line on the 1D Binance chart, and the latest bounce kept the structure intact. That matters because this trendline has acted as a “decision level” multiple times. Each retest that holds typically resets momentum, while a clean break usually shifts the market into a deeper correction phase.

Bitcoin Uptrend Line Retests on Daily Chart. Source: (Crypto King)

The current price area near $93,700 sits above that rising support and below the next big psychological zone. This creates a squeeze setup. If BTC keeps printing higher lows above the trendline, buyers keep control and the market can grind into the next resistance band. However, if price stalls and returns to the trendline again too quickly, the line becomes weaker, because repeated tests often reduce the amount of resting buy liquidity.

From here, the chart points to three practical paths. First, continuation: BTC holds above the trendline and clears the nearest swing highs, which would signal that demand is absorbing supply from the last selloff. In that case, momentum traders often target round number resistance next, because it concentrates orders. Second, range: BTC chops between the trendline and overhead resistance, building a base and delaying a breakout.

That usually shows up as tight candles and lower volatility. Third, breakdown: BTC closes below the trendline and fails to reclaim it on a retest. That sequence often flips the former support into resistance and opens the door to the next demand zone, typically the prior consolidation area on the way up.