Bitcoin Approaches $95,000 Amid Cautious Market Sentiment
- Bitcoin’s price surged to $94,420, a rise of 7.7% from its year-to-date opening price of $87,611.
- Aggregated open interest in Bitcoin remains flat at approximately $31.4 billion, down about 34% from October’s peak of $47.8 billion.
- The options market shows increased activity with over 3,000 contracts for January $100,000 calls purchased recently.
- U.S. spot demand for Bitcoin is weak as indicated by the negative Coinbase Premium indicator.
- January ETF flows have been strong, driven by institutional demand and broader access through major wealth platforms.
Despite Bitcoin’s recent ascent close to $95,000, analysts remain cautious due to flat perpetual futures positioning and weak U.S. spot demand signals. The options market has turned more constructive but largely reflects short-covering rather than new directional bets.
While Bitcoin’s rally has been supported by strong ETF flows and seasonal factors favoring risk assets in Q1, caution is advised as any break above $95,000 will require substantial trading volume to sustain momentum.( Source)
