Bitcoin has traded below $91,000 since Tuesday while funding rates hover around 7%, implying traders are cautious about adding leveraged longs. Options flow around long straddles and iron condors and rising long-to-short ratios at Binance and OKX suggest whales expect an accumulation phase near $89,500. A sustained move toward $95,000 appears to hinge on institutional demand returning after $1.58 billion exited spot Bitcoin ETFs over the past two days.

Ether price recently endured a three-day 13.8% pullback that pushed it back to the $2,900 support area and triggered $480 million in leveraged long liquidations. Although ETH later reclaimed $3,000 after U.S. President Donald Trump scrapped planned tariff hikes on several EU countries, derivatives data show a negative funding rate and a sharp rise in downside option premiums. Combined with sizable spot ETF outflows and weaker onchain activity versus rivals, these signals suggest limited conviction for a strong near-term rally.

Bitcoin and Ether revisited more-than-two-week lows as markets reacted to US President Donald Trump's new tariff threats. On Tuesday, the S&P 500 fell 1.9%, gold hit a record, and total crypto capitalization slipped to $2.71 trillion, down from nearly $3 trillion the prior Wednesday.

Bitcoin stayed above $92,000 after a 3.4% weekend pullback, while a failed $98,000 retest and $395 million in Friday ETF outflows weighed on sentiment. Derivatives showed a roughly 5% futures basis and an 8% put-call skew, and gold pushed past $4,650 as U.S. markets were shut Monday.

Ether briefly touched $3,400 on Wednesday before a two‑day 4% pullback, while derivatives positioning stayed neutral‑to‑bearish. A 4% annualized futures basis and a 6% put premium highlight caution, as lower fees and softer DApps activity weigh on sentiment. U.S. spot ETF flows have been modest since Jan. 7.

On Thursday, Bitcoin's price hovered near $95,500 after retreating from $97,900, even as an 8% three-day rally liquidated $465 million in short futures positions. The perpetual futures funding rate sat at 4%, below typical neutral levels, highlighting soft retail demand while institutional flows into spot ETFs and corporate treasury purchases expanded to over $225 billion in BTC exposure. Broader macro uncertainty around the Federal Reserve's independence and tensions involving Iran have added to traders' caution despite strong stock and precious metal performance.

Bitcoin rallied after $840 million flowed into spot ETFs on Monday and Tuesday, and Wednesday’s 5.5% jump lifted price to a two‑month high near $97,000. Options skew sits at 4% with puts priced richer, $370 million in short liquidations hit over two days, and macro risks plus weaker equities are capping momentum.

Bitcoin briefly rose above $92,000 on Monday after US federal prosecutors opened a criminal investigation into Federal Reserve Chair Jerome Powell. Despite the price pop, Bitcoin spot ETFs saw $1.38 billion in net outflows over four straight sessions, and futures basis remained near 5%, signaling cautious positioning.

Bitcoin climbed back above $90,000 on Saturday, reaching its highest level since mid-December while broader tech stocks showed signs of strain. Futures basis, options skew and more than $900 million in recent spot ETF outflows indicate limited appetite for leveraged upside exposure, suggesting traders remain wary about a sustained move beyond current resistance.