Bitcoin and Ethereum Lead Late-Night Crypto Rally
Bitcoin$BTC and Ethereum $ETH pushed higher late Tuesday during the CET session, signaling renewed momentum across the crypto market. Bitcoin briefly tapped $96,000, gaining around 3.5% in the past 24 hours, while Ethereum showed stronger upside, surging over 7% to trade above $3,300.
BTC96,909.75+1.28%Several smaller-cap tokens also posted notable gains, with coins like IP and DASH moving sharply higher. Still, the structure of the rally looks familiar: Bitcoin and Ethereum moved first, setting the direction for the rest of the market to follow.
Institutional Buyers Step Back In
A major driver behind the move is the return of institutional demand. On January 13, U.S. spot Bitcoin ETFs recorded approximately $753 million in net inflows, led primarily by Fidelity and BlackRock.
This wave of buying follows MicroStrategy’s recent purchase of an additional $1.25 billion worth of Bitcoin. When ETFs and large corporations accumulate at this scale, available supply on exchanges tightens — a dynamic that often supports higher prices, especially while retail participation remains relatively subdued.
As long as ETF inflows remain positive, Bitcoin continues to benefit from strong underlying demand.
Key Technical Level Gives Way
Technical factors added fuel to the rally. Bitcoin decisively moved above the $96,000 level and managed to hold above it. This zone had capped price action for several sessions, acting as a clear resistance.
Once that level was breached, short sellers were forced to cover positions, accelerating the move higher. The combination of renewed institutional buying and a confirmed technical breakout helped reinforce bullish momentum across the market.