Cryptocurrency financial services firm Matrixport stated in a newly released market analysis that its earlier positive forecast for Bitcoin is beginning to align with current market behavior, as evidenced by the asset’s sharp rally in recent days. The company has also observed a notable uptick in speculative activity, highlighted by a rise in open interest (OI)—an indicator often associated with heightened trading engagement and investor sentiment.
While the crucial resistance level near $95,000 has yet to be surpassed, Matrixport suggested that growing market confidence—particularly surrounding expectations that former US President Donald Trump’s tariff policies may not trigger a global economic slowdown—could help drive further upward movement.
Echoing this sentiment, blockchain analytics firm CryptoQuant has reported similar findings, particularly emphasizing a marked increase in OI over the past few days. According to the firm, the scale of this uptick represents the largest single-day rise in quite some time. However, CryptoQuant also cautioned that while such increases in derivatives activity often lead to short-term price gains, these rallies are not always sustainable over the longer term.
Their analysis highlighted that previous surges in open interest—ranging from about 15% to 16%—typically pushed Bitcoin’s price to more significant price movements than 4.2%, experienced this time.
Bitcoin Surges To $94K As Spot ETF Inflows Hit $936M
Bitcoin is currently trading at approximately $94,222, marking a 24-hour gain of 6.56%. During this same period, the asset reached a high of $94,381 and a low of $88,327. Bitcoin’s market capitalization has also seen a strong uptick, rising by 6.59% to reach roughly $1.87 trillion, indicating renewed investor interest and confidence.
In a broader context, the global cryptocurrency market has similarly expanded. The total market capitalization now stands at around $2.95 trillion, representing a 6.62% increase over the past day. Trading activity has intensified as well, with the total 24-hour cryptocurrency market volume surging by 51.62% to $134.48 billion, based on data from CoinMarketCap.
Further supporting this upward trend, data from SoSoValue shows that US-listed spot bitcoin exchange-traded funds (ETFs) recorded $936 million in net inflows in a single day—their highest since January 17th. These inflows were distributed across ten different ETFs, with Ark & 21Shares attracting $267.1 million, Fidelity’s FBTC drawing $253.8 million, and BlackRock’s IBIT receiving $193.5 million. Over a span of three consecutive days, the cumulative net inflows into US bitcoin ETFs surpassed $1.4 billion.
The substantial capital moving into spot ETFs highlights increasing institutional conviction in Bitcoin’s role not only as a speculative asset, but potentially as a more stable store of value amid evolving global financial conditions.
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Source: Mpost.io
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