Core Insights - Bitcoin has experienced a price drop below $95,000 after reaching near $98,000, yet institutional demand remains strong with significant inflows into U.S. spot ETFs [1] Institutional Demand - U.S. spot Bitcoin ETF flows reversed sharply from $1.3 billion in outflows to $1.7 billion in inflows, indicating renewed institutional accumulation [3] - BlackRock's IBIT captured $1.035 billion during the January 12–16 trading week, accounting for nearly 75% of total Bitcoin ETF demand [3] - U.S. custody wallets added 577,000 BTC worth $53 billion over the past year, with continued inflows into January despite price consolidation [4] Market Dynamics - Bitcoin remains in a consolidation phase, with the 14-day RSI cooling from 63.6 to 61.0 while still above neutral [2] - Spot trading volume increased from $8.8 billion to $9.3 billion, with a net buy-sell imbalance rising from -$4.6 million to $81.2 million, a 1,877% increase [2] - The ETF MVRV ratio increased to 1.71, indicating ETF holders are in profit [4] Derivatives Market - Futures markets showed mixed signals as open interest rose from $31.0 billion to $31.5 billion, reflecting cautious rebuilding of speculative engagement [6] - Funding rates dropped by 60.6%, from $1.5 million to $0.6 million daily, indicating reduced long-side urgency [6]