Bitcoin Pulls Back to $92K as Gold, Silver Rally; ETFs Signal Institutional Demand
Bitcoin (BTC $91,099.70) retreated to just above $92,000 on Tuesday after an early push toward $95,000, reversing a short-lived break in weeks-long declines during U.S. trading sessions. BTC is now down 1.3% over the past 24 hours.
Altcoins followed suit. XRP, which led Monday’s rally, fell over 2%, while Solana (SOL $135.59) — initially boosted by Morgan Stanley’s plan to offer a spot SOL ETF — gave up similar gains.
U.S. equities posted modest increases, with the Nasdaq up 0.4% and the S&P 500 up 0.3%, while metals surged sharply: gold climbed 1% above $4,500, silver jumped 5% past $80, and copper topped $6 per pound for the first time.
ETF inflows point to institutional interest
Bitcoin ETFs recorded their largest single-day inflow in nearly three months, totaling roughly $697 million, indicating renewed institutional demand and the unwinding of year-end tax-loss harvesting. Ether (ETH $3,152.00) also saw bullish flows in mid- and long-dated call spreads, signaling market confidence into the second half of 2026, according to Wintermute.
Options markets reflect cautious optimism. BTC skew remains negative due to systematic hedging by entities treating Bitcoin as a treasury asset, making risk-reversals — buying calls while selling puts — a cost-efficient way to express bullish views.
Analysts increasingly view Bitcoin as a geopolitical hedge. Despite a 6% loss in 2025, BTC has already recovered a significant portion. Historically, Bitcoin has never recorded back-to-back losing years, and past rebounds after 2014, 2018, and 2022 suggest 2026 could be a strong year for digital assets.
