Bitcoin Rides New Year Surge Amid Liquidity Headwinds ;

Bitcoin has kicked off the year with intent, climbing 6.18% from the opening day and testing higher ground, briefly trading as high as $93,312 overnight on 4-5 Jan.

Recent geopolitical headlines in Venezuela have so far failed to materially disrupt the broader crypto market, with prices showing relative resilience.

However, the price is once again stalling just below the $94,000 resistance, a level that has repeatedly capped upside attempts since momentum broke down in mid-November.

Still, early signs of risk appetite are slowly returning. Last week saw $459m in net inflows, following a flat start to the week before a sharp $471.3mn print on 2 Jan, according to Farside data.

Notably, weekly inflows of this magnitude were last observed in late October, shortly before a prolonged drawdown period during which $4.56bn exited spot ETF vehicles across November and December.

The start of the year appears more constructive, though liquidity conditions may still prove a headwind as the rally attempts to transition into a sustained upward trend.