Headline: Bitcoin’s rally stalls near $91k after BlackRock’s IBIT leads $339M in ETF redemptions — on-chain flows point to real sell-side pressure Bitcoin’s intra-day rally ran out of steam on 12 January as U.S. spot Bitcoin ETFs recorded a large net outflow, with BlackRock’s iShares Bitcoin Trust (IBIT) at the centre of the move. On-chain trackers and ETF flow data show the redemptions translated into real BTC arriving on exchanges, pressuring price just above $91,000. Key details - U.S. spot Bitcoin ETFs posted a combined net outflow of 3,734 BTC on the day — about $339 million at current prices, per Lookonchain. - BlackRock’s IBIT accounted for most of the selling, shedding 2,791 BTC. Grayscale’s products saw 891 BTC leave, while Fidelity’s FBTC recorded a modest inflow of +87 BTC. - Arkham Intelligence tracked large, rapid deposits from wallets linked to IBIT into Coinbase Prime the same day: many 300-BTC transfers plus a 143-BTC transfer. Visible deposits exceeded ~3,400 BTC, roughly matching IBIT’s reported outflow. Why the on-chain detail matters Coinbase Prime is the primary settlement venue for U.S. spot ETF issuers. When shares are redeemed, authorized participants receive BTC, which is typically routed through Prime before being sold into the spot market or redistributed across trading desks. The Arkham-tracked deposits therefore suggest these were not mere accounting entries — significant amounts of BTC were delivered into exchange liquidity pools and likely contributed to selling pressure. Market impact Bitcoin briefly pushed above $92,000 earlier in the session but was rejected and slipped back toward $91,000 as ETF-linked selling emerged. The timing of the Coinbase Prime deposits aligns with the intraday reversal, reinforcing the view that institutional ETF flows — not just retail sentiment — are increasingly dictating short-term price moves. A structural shift in market plumbing Since the launch of U.S. spot ETFs in 2024, ETFs went from being one-way demand engines to two-way liquidity drivers. With roughly 1.29 million BTC now held across U.S. spot ETFs, even modest percentage shifts in investor positioning can release thousands of coins into the market in a single session. BlackRock’s transfer on 12 January — responsible for nearly three-quarters of the day’s ETF outflows — is a clear example of how quickly ETF demand can flip from absorption to distribution. Bottom line ETF inflows and outflows are no longer just sentiment barometers; they now create actual settlement flows that feed directly into spot liquidity and price action. Institutional portfolio moves around ETFs can and do push markets at key levels, as January’s episode demonstrated. Disclaimer: AMBCrypto's content is informational and not investment advice. Trading cryptocurrencies is high risk — do your own research before making decisions. © 2026 AMBCrypto Read more AI-generated news on: undefined/news

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