Bitcoin showed notable resilience on Thursday, holding above the $97,000 level even as the broader crypto market, particularly AI-linked tokens, remained under pressure.
The performance reinforced growing evidence from on-chain data that large investors are positioning for further upside in the world’s biggest cryptocurrency.
Data from blockchain analytics firm Santiment showed that so-called ‘smart money’ wallets continued to accumulate Bitcoin despite recent volatility. Addresses holding between 100 and 10,000 BTC added nearly 32,700 BTC since January 10, a trend Santiment described as an ‘ideal setup’ for the early stages of a potential bull market. In contrast, smaller retail-sized wallets have continued to reduce their holdings, highlighting a widening gap in market conviction.
Bitcoin rose about 1.4 percent on the day and briefly topped $97,000, standing out against weakness in the AI token segment, which has seen sustained selling pressure in recent sessions.
Market analysts say Bitcoin’s ability to decouple from speculative sectors suggests investors are increasingly treating it as a relative safe haven within the digital asset space.
Read also: Bitcoin climbs past $92,000 as traders rotate into Altcoins
Ethereum, the second-largest cryptocurrency, traded largely flat above $3,300, reflecting a more cautious stance among traders. Santiment noted that while overall market sentiment remains in an extremely bullish zone, the durability of the current trend will depend on how long retail investors stay on the sidelines.
Institutional demand also remained strong, providing further support for major cryptocurrencies. Ethereum spot exchange-traded funds (ETFs) recorded a net inflow of $175 million on January 14, marking their third consecutive day of inflows, according to data from Foresight News and SoSoValue. BlackRock’s ETHA led the gains with $81.6 million in fresh inflows, followed by Grayscale’s Ethereum Mini Trust ETF, which attracted $43.5 million.
Bitcoin spot ETFs continued to see even stronger demand, posting a combined net inflow of $840.6 million on the same day. Market participants say sustained ETF inflows are reinforcing Bitcoin’s price stability, even as sentiment across other crypto sectors remains fragile.
Despite the near-term strength, analysts caution that the market’s next direction will hinge on whether retail investors re-enter at higher prices or remain cautious amid regulatory uncertainty and sector-specific weakness. For now, Bitcoin’s ability to hold above $97,000 is being viewed as a key signal of underlying confidence among large and institutional investors.
