Bitcoin Holds $96K as Exchange Outflows and Fed Risks Fuel Bullish Sentiment
Bitcoin traded around $96,000 on January 15 as market sentiment shifted amid notable on-chain flows and macro headlines. Analyst Darkfost reported large net outflows from Binance — over 4,500 BTC on Jan 5 and more than 5,200 BTC on Jan 13 — which typically signal movement to cold wallets and reduced immediate selling pressure. Economist Alex Krüger attributed part of the rally to spot buying on Coinbase and investors viewing BTC as a hedge against Federal Reserve policy and related political risks. Technical resistance was noted near $98,000 with a key battleground at the 50-week moving average; one analyst flagged a potential short-term pullback around $101,420 as a profit-taking area. Separately, a short-term altcoin trade idea highlighted PUMP Coin, forecasted to reach $0.00378 after a cup-and-handle breakout. The article cautions that outflows need more data to confirm a structural trend and reminds readers this is not investment advice.
Bullish
The article highlights large BTC outflows from Binance and increased Coinbase spot buying, both of which historically support price appreciation by reducing available sell-side liquidity and indicating accumulation into self-custody. Macro commentary (Fed-related risk and political headlines) has also driven demand as traders seek hedges. Technical context shows resistance near $98k and attention around the 50-week moving average, which introduces the possibility of short-term pullbacks and profit-taking. Together, these elements suggest a net bullish bias: short-term volatility and pullbacks remain possible, but persistent exchange outflows and spot accumulation tend to favor continued upside if sustained. Comparable past events: 2020–2021 accumulation onto cold wallets preceded longer-term rallies; conversely, temporary outflows after end-of-year rebalancing sometimes reversed, so confirmation of a sustained trend requires continued outflows and on-chain demand.