Retail Is Bearish, but $1.7B in Institutional Inflows Pushed BTC Above $97K

Market Overview - The cryptocurrency market has experienced significant gains, with the total market cap increasing by over $300 billion in the past two weeks, reaching a high of $3.3 trillion before settling at $3.26 trillion [1] - Bitcoin reached a local high of $97,860 but is currently trading around $92,300, while Ethereum peaked at nearly $3,400 [2] Investor Sentiment - Retail investors are showing mixed reactions, primarily bearish sentiment, despite the recent price increases [1][2] - Historically, bearish sentiment from retail investors has often acted as a bullish catalyst for Bitcoin prices [3] Catalysts for Price Movement - The recent rally has pushed the CMC fear and greed index to 54, indicating a shift in market sentiment [3] - Key catalysts contributing to the bullish momentum include inflows into spot Bitcoin exchange-traded funds (ETFs), short liquidations, and the latest US Consumer Price Index (CPI) data [3] Institutional Inflows - US-based spot Bitcoin ETFs saw a net inflow of $843.6 million on January 14, bringing the total inflows for the week to $1.71 billion [4] - Following the release of the US CPI data, which showed a 2.7% year-over-year increase for December 2025, Bitcoin's price surged to $96,000, triggering significant short liquidations worth $595 million between January 13 and 14 [4]