Why Is Crypto Up Today? – January 6, 2026

‘Reflective Bounce’

Nic Puckrin, investment analyst and co-founder of the Coin Bureau, commented that the first Monday of 2026 saw gold, silver, and BTC moving in the same direction.

“It would be tempting to label this a ‘risk-off’ or dollar debasement trade and predict that Bitcoin and gold are converging – but this isn’t what’s happening here,” Puckrin says. “In fact, Bitcoin and precious metals are being driven by very different forces.”

Gold and silver are extending last year’s momentum. It stalled somewhat at the end of the year, the co-founder explains, providing investors on the sidelines with an entry point.

However, BTC “was so oversold at the end of last year that we’re now seeing a reflexive bounce.”

Moreover, Friday, which was the first full ETF trading day of 2026, saw $471.3 million of inflows into Bitcoin ETFs, suggesting institutions are piling back in. “We’re seeing more of the same today as investors come back to their desks after the festive season,” he says.

“But this doesn’t mean that Bitcoin and gold are converging, or that Bitcoin will now rally every time geopolitical tensions escalate. For now, it’s a simple coincidence,” Puckrin concludes.

According to Glassnode, BTC is stabilising within the $80,000–$95,000 range as momentum recovers and sell pressure eases.

Levels & Events to Watch Next

At the time of writing on Tuesday morning, BTC stood at $93,583. The price jumped from the intraday low of $92,474 to the high of $94,634 and has been trading relatively sideways since.

Also, it’s up 6.6% in a week, trading within a notably wider range of $87,409–$94,420.

If the coin holds above $93,000, it may proceed towards $95,300, followed by $97,000 and finally $100,000. Yet, a fall could drag the price back below $90,000.

Ethereum is currently changing hands at $3,228. It has increased from the day’s low of $3,138 to the intraday high of $3,253.

Also, ETH has outperformed BTC in the 7-day period, with an 8.5% increase. It moved between $2,953 and $3,240.

Should the price firmly hold the $3,300, it would open a path towards $3,470, $3,600, and $3,800. A turn in the market could see ETH drop below $3,100.

Moreover, the crypto market sentiment has seen another notable increase, rising within the neutral territory.

The crypto fear and greed index stands at 49 today, compared to 42 yesterday and to its intra-month low of just 21. It is out of the fear zone for the first time since October 2025.

When it comes to the short- and mid-term outlook, the optimism seems to still be rising. Zooming out, they appear to be far more concerned and cautious in the longer term.

ETF Inflows Continue

Like the year, the first day of the year’s first full week of trading began in the green. The US BTC spot exchange-traded funds (ETFs) recorded $697.25 million in inflows on Monday. This is the highest amount since October 2025. The total net inflow rose to $57.78 billion.

Also, like in the previous session, nine of the twelve BTC ETFs recorded inflows, while none saw outflows.

BlackRock again posted the highest amount on Monday of $372.47 million. It’s followed by Fidelity’s $191.19 million and Bitwise’s $38.45 million.

Also, the US ETH ETFs posted positive flows on 5 January as well, with $168.13 million. The total net inflow hovers around $12.5 billion.

Of the nine funds, five recorded inflows, and none posted outflows – the same as the previous trading day on Friday.

BlackRock took in $102.9 million in inflows, while Grayscale posted $23.66 million in total on this day, significantly lower than the session.

Meanwhile, Strategy reported a $17.44 billion unrealised loss on digital assets for the three months ended 31 December 2025.

Additionally, for the full year, Michael Saylor’s company said it recorded a $5.4 billion unrealised loss on digital assets and a $1.55 billion associated deferred tax benefit.