NightlyInXiamen

BTC strongly rebounded from the low of $65,233 to $68,205, with an intraday increase of over 2.2%. It successfully recaptured the key daily EMA5/EMA10 moving averages, fully restoring the bullish trend. The daily MACD red histogram continues to expand, and the 4-hour chart confirms a wave of bullish momentum. The 1-hour chart shows a pullback due to short-term overbought conditions, with the KDJ entering the oversold zone, which is a normal correction during an upward trend. The halving expectations and institutional capital inflows continue to be the main driving forces, and the rebound still

BTC strongly rebounded from the low of $65,233 to $68,205, with an intraday increase of over 2.2%. It successfully reclaimed the key daily EMA5/EMA10 moving averages, fully restoring the bullish trend. The daily MACD red histogram continues to expand, and the 4-hour chart confirms a wave of bullish momentum. The 1-hour chart shows a correction due to short-term overbought conditions, with KDJ entering the oversold zone, which is a normal correction during an upward trend. The halving expectations and the core logic of institutional capital inflow continue to dominate, and the rebound still has

After the US January PPI unexpectedly fell short, BTC staged a "V-shaped reversal," rebounding from $62,980 to $67,526, with an intraday increase of over 2.6%. It strongly recaptured key moving averages, and bullish momentum fully recovered. Technical indicators across multiple timeframes are simultaneously strengthening; the 1-hour, 4-hour, and daily charts all confirm a bullish trend. The underlying logic of the halving expectation once again dominates the market, and the rebound rally after digesting the negative news has officially begun.

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1. Top Global Institutional Movements
• BlackRock IBIT: Nearly 3 hours recorded a net outflow of $38 million, continuing the previous exit trend, with institutional funds steadily flowing out and retail investors' share rising to 30%.
• Grayscale GBTC: Nearly 3 hours net outflow of $9 million, redemption pressure remains high, with outflows narrowing by 25% compared to the previous hour ($12 million), and the spot ETF conversion progress remains at 13%.
• Fidelity FBT: No new allocations, institutional fund share remains at 90%, holdings stable, long-term allocation demand unchanged.
2. Market

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BlackRock IBIT: Net outflows of $32 million recorded in the past 3 hours, ending previous net inflows. Signs of institutional funds exiting the market are evident, with retail investor share rising back to 22%.
• Grayscale GBTC: Net outflows of $18 million in the past 3 hours, redemption pressure increases again, with outflows doubling compared to the previous 3 hours. Progress on converting to spot ETF remains at 13%.
• Fidelity FBT: No new allocations, institutional fund share remains at 90%, holdings stable, long-term allocation demand unchanged.
2. Market Maker Movements
• Market makers' "

BlackRock - IBIT (Spot BTC ETF)
• Position change over the past 3 months: 2025.11 holding 120,000 BTC → 2026.01 holding 156,000 BTC, an increase of 36,000 BTC
• Average holding price per month: 2025.11 $78,500; 2025.12 $75,200; 2026.01 $72,800; weighted average over the past 3 months $75,100
• Key developments:
◦ In December 2025, IBIT became the second-largest spot BTC ETF globally, with assets under management surpassing $12 billion;
◦ After the ETF amendment approval in January 2026, the single-day net capital inflow peaked at $230 million, indicating strong institutional demand;
◦ BlackRoc

1. Volume Characteristics: 24-hour trading volume is 83,000 BTC, a 45% decrease compared to the previous trading day. Currently, all timeframes show a declining trend with decreasing volume, indicating continued selling pressure, with incremental funds remaining on the sidelines. The rebound momentum is insufficient.
2. Fund Structure: 24-hour trading volume is 6.405 billion USDT. Funds in the 77,000-78,000 USD range have a net outflow of 180 million USDT. Retail selling pressure accounts for 75%, while institutional investors are mostly on the sidelines. The bullish dominance has weakened.
3.