U.S. spot Bitcoin ETFs attracted $6.8 million in net inflows yesterday, putting an end to five consecutive days of outflows that saw the investment products shed almost $1.72 billion.
Conversely, Bitwise’s Bitcoin ETF (BITB) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw outflows of $11 million and $5.7 million respectively, while the ARK 21Shares Bitcoin ETF (ARKB) lost $2.9 million in assets.
“A positive sign”“It’s a positive sign given the string of outflows which corresponded to Bitcoin’s selloff over the past fortnight,” said David Morrison, a senior analyst at Trade Nation.
Morrison told Decrypt that there has been “considerable disappointment” over Bitcoin’s failure to build on a positive start to 2026, but that things could improve further if ETF inflows continue to increase over the coming days.
While bearish voices could argue that Monday’s inflow was “little more than a rounding error,” he said, Bitcoin is trading in a “relatively large support band stretching from around $85,000 up to $90,000.”
Morrison suggests that Bitcoin may need to consolidate before it launches a sustained rally, given that traders are no longer taking their lead from equities as a relevant risk-on signal for crypto.
“In fact, the strongest correlation comes against the U.S. dollar,” he added. “The Dollar Index has now fallen within sight of its sub-96.00 lows from September, and this itself marked a three-and-a-half year low for the Dollar Index.”
Further declines for USD could pull Bitcoin down even further, yet it could also provide a bottom from which the dollar and BTC may ultimately rebound.
“If so, then a snap higher in the dollar could help boost Bitcoin and help it break out above the highs from mid-January,” Morrison concluded.
