Key Highlights:
- Bitcoin fails to break $94,000-$95,000 resistance.
- Spot BTC ETFs record a huge outflow on January 6, 2026.
- Whale accumulation and MSCI’s bullish stance keeps the $94,000-$95,000 reclaim outlook intact.
Amid geopolitical tensions which include Venezuela’s crisis, the price of Bitcoin rallied, broke from a range of $87,000-$88,000 and hit the $93,000 mark.
However, today, January 7, 2026, Bitcoin tried to push through the $94,000-$95,000 range but failed as noted by analyst TedPillows on social media platform X. The analyst is still optimistic of Bitcoin reclaiming the above said range because the price of the token is still holding above the $92,000 mark.
$BTC tried to reclaim the $94,000-$95,000 level but failed.
The good thing is that Bitcoin is still holding above the $92,000 level here.
With the MSCI bullish announcement, I think BTC could reclaim this zone soon. pic.twitter.com/fwUjlPbMGc
— Ted (@TedPillows) January 7, 2026
Spot Bitcoin ETFs Record $243 Million Net Outflows on January 6
According to crypto data and analytics platform, SoSoValue, on January 6, 2026, spot Bitcoin ETFs saw a large net outflow of $243 million, which came right after a huge inflow of $697.25 million on January 5, 2026. This withdrawal was also the largest single-day withdrawal in three weeks.
Data shows that yesterday, only BlackRock’s iShares Bitcoin Trust (IBIT) recorded fresh inflows, the rest of the ETF products recorded outflows. The other ETFs products such as ETH ETF, SOL ETF and XRP ETF all of them experienced inflows.
This drop in spot BTC ETF support may have contributed to the price rejection. As investors removed funds from BTC ETF on January 6, buying pressure weakened. This situation made it harder for BTC to push higher.
This pullback also gives an idea that the investors may be shifting some of their capital to altcoins after Bitcoin posted a strong 4.89% gain over the past week. The outflows also points out that the price drop could also be a result of short-term profit taking, as investors lock in gains rather than add new Bitcoin positions.
Bitcoin’s Technical Rejection at $94,500
BTC was rejected near $94,762 on January 6, and it quickly fell to around $91,500 before setting close to $93,000. Technical indicators showed the price had gone up too fast. The 7-day RSI stood at 80.65, which clearly indicates an overbought signal, which prompted investors and traders to book profits near key levels like $95,000.
The $92,325 level is now an important support and if it breaks, prices could slip toward $90,817. But if it holds above $92,300, it could help BTC move higher again, while a drop below this level may lead to a deeper correction.
At press time, the price of BTC stands at $92,642.29 with a dip of 0.57% in the last 24 hours as per CoinMarketCap.
The Crypto Fear and Greed Index is at 49, which indicates a neutral sentiment within the market. The crypto market also dipped 0.2%, which points toward consolidation rather than panic selling.
On-chain data analysis by Lookonchain indicates that large investors or whales are still accumulating Bitcoin, suggesting that these experienced players are using dips as buying opportunities.
Whales are accumulating $BTC.
Three wallets (possibly belonging to the same whale) accumulated 3,000 $BTC($280M) 10 hours ago.https://t.co/l98G6zb7cChttps://t.co/WllJyc3yb7https://t.co/rHrvCVz5CX pic.twitter.com/QULWm35vTR
— Lookonchain (@lookonchain) January 7, 2026
Can Bitcoin Move Back to $94,000?
With MSCI not excluding Bitcoin & crypto treasury companies from its indexes, there are chances that this move could bring in fresh inflows and help the price of the token.
Additionally, if the technical indicators improve, Bitcoin could possibly reclaim the $94,000-$95,000 zone. As of now, $92,000 remains to be a key level to watch out for.
If the token slips below this mark, it could possibly open the door to $88,000. Longer term, growing ETF adoption and easier macro conditions support the case for new highs in 2026.
Also Read: Bitcoin Gains Amid Venezuela Chaos, Says Arthur Hayes
