U.S. spot Bitcoin ETFs attracted $6.8 million in net inflows yesterday, putting an end to five consecutive days of outflows that saw the investment products shed almost $1.72 billion.

According to data from Farside Investors, BlackRock’s iShares Bitcoin Trust ETF (IBIT) and Grayscale Bitcoin Mini Trust ETF (BTC) were the biggest gainers, securing $15.9 million and $7.7 million in inflows, respectively.

Conversely, Bitwise’s Bitcoin ETF (BITB) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw outflows of $11 million and $5.7 million respectively, while the ARK 21Shares Bitcoin ETF (ARKB) lost $2.9 million in assets.

“A positive sign”

While the wider picture is mixed, today’s overall increase puts an end to five days of heavy losses for Bitcoin ETFs, with last Wednesday alone witnessing outflows of $708.7 million.

The reversal comes as Bitcoin traded down 0.4% on the day at around $87,815, according to CoinGecko data.

Bitcoin's price stagnation comes after declines over the past week (of 2.5%), fortnight (5.8%) and year (11.9%), but for some analysts the positive change in ETF flows is significant.

“It’s a positive sign given the string of outflows which corresponded to Bitcoin’s selloff over the past fortnight,” said David Morrison, a senior analyst at Trade Nation.

Morrison told Decrypt that there has been “considerable disappointment” over Bitcoin’s failure to build on a positive start to 2026, but that things could improve further if ETF inflows continue to increase over the coming days.

While bearish voices could argue that Monday’s inflow was “little more than a rounding error,” he said, Bitcoin is trading in a “relatively large support band stretching from around $85,000 up to $90,000.”



One problem for the analyst, however, is that Bitcoin doesn’t seem to be responding (at least not yet) to the recent uptick in U.S. equities and other comparable assets, with numerous stock markets around the world currently at record highs as earnings season approaches.

Morrison suggests that Bitcoin may need to consolidate before it launches a sustained rally, given that traders are no longer taking their lead from equities as a relevant risk-on signal for crypto.

“In fact, the strongest correlation comes against the U.S. dollar,” he added. “The Dollar Index has now fallen within sight of its sub-96.00 lows from September, and this itself marked a three-and-a-half year low for the Dollar Index.”

Further declines for USD could pull Bitcoin down even further, yet it could also provide a bottom from which the dollar and BTC may ultimately rebound.

“If so, then a snap higher in the dollar could help boost Bitcoin and help it break out above the highs from mid-January,” Morrison concluded.

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