January 12th, Bitcoin price movement stagnates. The US spot Bitcoin ETF recorded a net outflow of 3,734 Bitcoins, approximately $33.9 million. BlackRock's IBIT led the sell-off, reducing holdings by 2,791 Bitcoins. On-chain data shows that over 3,400 Bitcoins were transferred to Coinbase Prime, indicating genuine Bitcoin inflows into exchange liquidity. This caused ETF redemptions to turn into direct selling pressure, preventing Bitcoin from surpassing $92,000 and causing it to fall to around $91,000, highlighting that institutional fund flows are a key short-term driver of price movement.

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