Bitcoin (BTC) is holding steady above $93,000 right now, and the reason is pretty straightforward: money is flowing in faster than concerns can push it out. While the broader economy is flashing some warning signs, crypto investors seem more interested in what's happening with ETFs than manufacturing reports.
Speaking of those warning signs, the ISM manufacturing PMI dropped for a third consecutive month, landing at 47.9 in December. That's the weakest reading since October 2024, which normally would be the kind of data that makes risk assets nervous. But here's the thing: Bitcoin ETFs pulled in $697.3 million in net inflows on Monday alone, while Ethereum (ETH) ETFs saw $168.1 million come through the door. That kind of institutional demand has a way of drowning out macro noise.
Current Price Check
Bitcoin is trading at $93,760, while Ethereum sits at $3,239. Solana (SOL) is at $139.10, and XRP is changing hands at $2.37.
Is This Just a Pause Before the Next Move?
The Cryptomist thinks Bitcoin might be forming a falling wedge pattern, which could mean one more dip into support before a squeeze toward the mid-$95,000 zone. After that potential rally, bearish pressure might start building again.
Michael van de Poppe has a more bullish take. He points out that when you're seeing more than $1 billion flow into Bitcoin ETFs over just the first two trading days of the year, a deep correction seems unlikely. His expectation? A brief consolidation phase followed by a push toward $100,000 and beyond.
Van de Poppe also noted that Ethereum successfully tested and held its 21-day moving average, confirming that short-term support is intact. Combined with those steady ETF inflows, the technical structure looks favorable for the uptrend to continue.
Cryptoinsightuk observed that XRP just closed its highest daily candle since November 15. While lower timeframes show overbought conditions, calling for an immediate pullback is tricky here. XRP has a history of accelerating sharply once momentum really gets going, and that momentum is definitely building.
Crypto Tony weighed in on Solana, saying it needs to hold above $132 to maintain a constructive setup. If that support level stays intact, the next upside target sits at $145.
Meme Coins Making Moves
The broader meme coin market ticked up 0.5%, holding a total market cap near $52 billion. Dogecoin (DOGE) is trading at $0.1505, while Shiba Inu (SHIB) is at $0.00009305.
BitGuru said Dogecoin is consolidating with clean structure after a liquidity sweep, framing this pause as a momentum reset rather than a sign of weakness.
Meanwhile, Shibburn data revealed that Shiba Inu's burn rate absolutely exploded, surging 278.9% in a single day. That means 15.2 million SHIB tokens were removed from circulation, which is the kind of supply reduction that gets the community excited about potential price impacts down the road.