Bitcoin Price Shows Signs of Reversal Amid ETF Outflows of $681M

Summary:
The Bitcoin market has witnessed substantial outflows from U.S. spot Bitcoin exchange-traded funds (ETFs), totaling approximately $681 million over the past week. Despite these outflows and the resulting dip in institutional demand, technical charts indicate a potential bullish reversal for Bitcoin's price.

Key Takeaways:

U.S. spot Bitcoin ETFs saw $681 million in outflows last week.
Fidelity's FBTC experienced the largest loss, down $481 million.
Bitcoin's price is currently at $91,652, approximately 27.3% below its all-time high.
An Adam and Eve bullish reversal pattern is appearing on the daily chart.
Key support level is at $89,600, while breakout resistance is at $94,138.

Bitcoin price forms bullish reversal pattern while weekly ETF outflows hit $681M.

ETF Outflows Indicate Reduced Institutional Demand

Recent data from SoSoValue reveals that 12 spot Bitcoin ETFs faced significant net outflows of about $681 million from January 5 to January 9. The hardest hit was Fidelity's FBTC, which lost $481 million, while Grayscale’s GBTC and ARK Invest’s ARKB experienced outflows of $171.8 million and $45.4 million, respectively. Additionally, Grayscale's mini Bitcoin Trust and HODL and BITB ETFs saw a combined decrease of $46.1 million.

In contrast, BlackRock's IBIT managed to attract $25.9 million, and other ETFs added a further $37.7 million, partially offsetting the total outflows.

This drop followed a previous week where investment products gained $458.7 million, allowing Bitcoin to rise above $94,000 for the first time since early December. However, profit-taking and significant volatility from liquidations put pressure back on Bitcoin, with many investors opting to wait for market conditions to stabilize.

Bitcoin As of January 12, the price of Bitcoin has rebounded slightly to $91,652 but remains nearly 27.3% lower than its all-time high of $126,080 reached on October 6, 2025.

Technical Analysis: A Bullish Reversal Pattern?

Bitcoin price has formed an Adam and Eve pattern on the daily chart.
Bitcoin appears to have formed an Adam and Eve pattern on the daily chart, starting from mid-November last year. This pattern, which features a sharp V-shape followed by a gradual rounded bottom, often signals a bullish reversal when the price breaks through the neckline resistance, currently set at $94,138.

If Bitcoin successfully exceeds this neckline, it could prompt buyers to target the prior high of $107,500, with few obstacles in the way.

Currently, technical indicators suggest a favorable outlook for Bitcoin. The 20-day Simple Moving Average (SMA) has crossed above the 50-day SMA, indicating a potential return to upward momentum. Additionally, momentum indicators like the MACD are showing buy signals, suggesting that selling pressure is beginning to dissipate.

Bitcoin price and MACD chart.
However, Bitcoin must maintain support at around $89,600, which coincides with the 50-day SMA, to prevent further declines in price.