Data Indicates Bitcoin Bottom as US ETFs See Massive Inflows

Some cryptocurrencies, like Ethereum (ETH), Solana (SOL) and XRP (XRP), have posted strong weekly gains, ranging from 10% to 22%. While Bitcoin (BTC) also posted a 5% weekly gain, it has slightly pulled back over the past 24 hours and is currently trading close to US$93k (AU$137k).

However, there is some data suggesting we may have seen the worst for now. As Bitcoin slid towards US$80k (AU$118k) in late November, a key Glassnode metric tracking short-term holder profit versus loss dropped to levels that have historically aligned with major market bottoms. This was driven by a sharp spike in recent buyers sitting on losses.

Since the start of 2026, BTC’s rebound towards US$94k (AU$139k) has been accompanied by a rapid recovery in short-term holder profits, while the ratio remains well below levels typically seen near market tops.

The data suggests the late-November sell-off likely marked a meaningful bottom, and that Bitcoin’s current recovery still has room to run before conditions resemble an overheated market.

Related: XRP Breaks $2 as ETF Inflows Fuel Early-2026 Rally

ETF Selling Turns into Buying

As reported by Crypto News Australia, several analysts have also turned a bit more bullish. One Bitfinex analysis suggests that exchange-traded fund (ETF) selling has finally reached a turning point.

And it’s not only Bitcoin. Solana and Ethereum ETFs have also seen a surge in inflows, as Santiment reports.

While ETH ETFs saw a day of net negative outflows on Tuesday, the past few days have been promising. Since the start of 2026, US Ethereum funds have recorded US$258.4 million (AU$382.2 million) in net inflows. US Solana ETFs, on the other hand, have seen positive net inflows since 26 December.

And what about Bitcoin? Well, the fastest-growing ETFs in history have seen mixed results. Tuesday saw US$471.9 million (AU$697.9 million) in net outflows, although data for the largest fund, BlackRock’s IBIT, is still outstanding.

Monday, however, saw the largest net inflows in months, with a whopping US$697.2 million (AU$1.03 billion) flowing into ETFs that day.

Meanwhile, Morgan Stanley has announced that it has filed for crypto ETFs of its own. This may be a move to benefit from its own products rather than paying fees to BlackRock and others, especially since it recently allowed advisers to allocate into crypto. As Bloomberg’s senior ETF analyst Eric Balchunas put it:

They have like $8T in advisory assets and they already OK’d those advisors to allocate so might as well be in their own branded fund vs paying BlackRock or someone else. […] This could nudge a couple others to launch in house branded btc etfs as well, we’ll see..

Eric Balchunas

Related: Goldman Sachs Sees Regulatory Shift Fuelling Next Phase of Crypto Adoption

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