Bitcoin ETF Flows Turn Two-Way as Crypto Sell-Off Loses Momentum

Bitcoin has seen a shift in its exchange-traded fund (ETF) flows as JPMorgan analysts indicate that the crypto sell-off is losing momentum. According to recent market patterns, investor risk reduction may be concluding, with neither panic nor recovery in sight.

The late-2025 decline was characterized by 'de-risking' rather than a structural breakdown, with investors reducing exposure across stocks and digital assets due to rising macro uncertainty.

Bitcoin traded around $90,944 on January 9, up 2.6% over the previous week, while Ethereum hovered near $3,100, up over 3% during the same period.

The first two trading days of 2026 brought in $1.2 billion into Bitcoin ETFs, with a single-day surge of $697 million on January 2, the largest inflow since October. However, this was followed by outflows totaling $243 million on January 3 and another $476 million on January 8.

This two-way flow indicates that buyers and sellers remain active in the market, a sign that investor sentiment may be shifting from fear-driven sell-offs to more balanced trading activity.