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The world's largest cryptocurrency Bitcoin has gained 2.15% to rise over the previous day and cross the psychological $93,000 level, amid “bullish ETF inflows, technical breakout signals, and improving market sentiment”, according to CoinMarketCap data.

At 8.35 am, data showed the token at $93,104.09, up from early morning numbers at $92,700 levels.

According to The Kobeissi Letter, as many as $75 million worth of levered shorts at liquidated in 60 minutes, taking the token up close to $5,000 since its low on 2 January (Friday) after the US began strikes on Venezuela.

Data on CoinMarketCap showed the crypto market capitalisation on 5 January at $3.16 trillion, with volume of $90.32 billion. Further, the greed and fear index was at ‘neutral’.

Among the tokens, Bitcoin maintained its dominance over 58.7% of the crypto market, followed by second largest crypto Ethereum with 12.2%, and all other tokens comprising 29.2% of the pie.

At 8.30 am on 5 January, Bitcoin was trading at $93,104.09, up 2.15% with market cap of $1.85 trillion (up 1.87%), and 24 hours trading volume of $33.09 billion (up 40.53%).

According to CoinMarketCap analysis, US spot Bitcoin ETFs attracted $588.6 million in weekly inflows, led by BlackRock’s IBIT ($436 million on 4 January). ETF holdings now total 1.27 million BTC (6.4% of supply).

“Sustained ETF buying absorbs liquidity, countering exchange sell pressure. This aligns with Bitcoin’s 4.37% weekly gain, suggesting institutions are accumulating despite recent volatility. Daily net inflows above $100 million could reinforce upward momentum,” it stated.

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