Headline: Bitcoin reclaims $90K as short‑term pain eases — can bulls push it past the $99K breakeven? Bitcoin kicked off the week with renewed buying pressure, climbing back above the $90,000 zone for the first time since December 12 and holding that level for four straight days. The market’s upbeat tone is being reinforced as short‑term holders pare losses and both institutional and retail spot demand reemerge. What’s driving the move - Price action: Bitcoin was trading around $93,450 at the time of reporting, up from sub‑$90K levels earlier in the week. The sustained stay above $90K suggests stronger demand and better price stability at higher levels. - Short‑term holder dynamics: The Short‑Term Holder Net Unrealized Profit/Loss (STH NUPL) — which measures whether short‑term coins are in profit or loss — has compressed toward zero. That indicates fewer unrealized losses among short‑term holders as the price rallies. - Breakeven zone to watch: Alphractal maps the STH NUPL zero line to about $99,000. Crossing and holding above this level (and specifically above the Short‑Term Holder Realized Price) would be needed to confirm a clearer bullish shift. As Alphractal notes, “Historically, the area around 0 acts as resistance for this metric. A transition into positive territory only happens if BTC breaks above and holds the Short‑Term Holder Realized Price.” Bitcoin is roughly $5,500 away from that threshold at current levels. Flows backing the rebound - Institutional buying: U.S. spot Bitcoin ETFs recorded a combined net inflow of $452.4 million across trading days on January 5–6, with $697.25 million added on the first of those days. This accumulation followed recent institutional sell‑offs totaling $1.11 billion, signaling a shift back to buying. - Spot and on‑chain behavior: After four days of net selling from January 2–5 that removed $373.5 million worth of BTC from the market, spot demand has returned. CoinGlass Spot Exchange Netflow data shows about $481.76 million worth of BTC withdrawn from exchanges into private wallets — a behavior typically linked to longer‑term holding and less available supply on centralized platforms. Macro backdrop Global M2 money supply has continued to rise, improving liquidity conditions that can be supportive for risk assets like Bitcoin. While higher M2 has historically correlated with asset price strength, its effects usually unfold over months rather than days. What to watch next - Can BTC clear and hold the STH NUPL breakeven zone (~$99K) and the Short‑Term Holder Realized Price? That’s the technical/psychological pivot to watch for a more convincing bullish continuation. - Sustained inflows from institutional ETFs and continued spot withdrawals would strengthen the upside case. - Keep an eye on macro liquidity trends — rising M2 is supportive but not an immediate catalyst. Bottom line Improving short‑term holder positioning, renewed institutional ETF inflows, growing spot demand and a friendlier liquidity backdrop are aligning in Bitcoin’s favor. However, a decisive break above the STH NUPL breakeven zone and sustained strength toward the $100,000 area will be required to confirm a broader bullish trend. Sources: Alphractal, CoinGlass. Disclaimer: This article is informational and not investment advice. Cryptocurrency trading is high risk; do your own research before making decisions. © 2026 AMBCrypto Read more AI-generated news on: undefined/news

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