The truth behind BTC breaking through 90,000: institutions are selling, retail investors are accumulating

BTC delivered a solid performance at the beginning of 2026. According to the latest news, BTC broke through the 90,000 USDT threshold, with the current price at 90,000.5 USDT. This number looks impressive, but the market sentiment behind it is far more complex than the surface suggests. Institutions are quietly reducing holdings, while retail investors continue to buy in. An interesting contradiction is forming.

The Technical Significance of Breaking 90,000

90,000 is an important psychological barrier. Based on the latest data, BTC has increased by 1.59% in 24 hours, with a market cap reaching $1.78 trillion, accounting for 58.63% of the market. This is not just a numerical breakthrough but also signifies a market re-pricing of BTC’s value.

Looking at recent trends, BTC has risen 2.59% over the past 7 days. Although the monthly chart still shows a decline of 3.31%, the strength of this rebound at the beginning of the year is noteworthy. The market experienced a turning point on the last day of the year—BTC ended a 7-day net outflow and shifted to a net inflow of $355.1 million. This change hints at a shift in capital flow.

Market Contradictions: Institutional Attitudes vs. Capital Enthusiasm

Interestingly, while BTC broke through 90,000, Coinbase executives stated on CNBC that institutions are selling Bitcoin to clients. It sounds a bit ironic—prices are rising, yet institutions are reducing their holdings.

From another perspective, the data on capital inflows looks very positive. BlackRock’s spot BTC ETF (IBIT) saw a net inflow of $144 million in a single day. This indicates that although some institutions are selling, overall institutional capital inflow has not stopped. Even more interestingly, retail wallets have accumulated 3.31% of BTC since July, while whale wallets have only increased by 0.36%. This breaks the typical institutional-led bull market pattern—this time, retail investors are actively accumulating.

Bullish Signals in the Options Market

Traders are voting with real money. According to reports, a trader bought 3,000 BTC call options on Deribit with a strike price of $100,000, expiring on January 30, 2026. This transaction cost approximately 32.4 BTC (about $2.86 million).

This setup is quite interesting—traders are betting on BTC surpassing $100,000 within a month via options. Although the price needs to exceed $100,953.67 to be profitable, it reflects a bullish outlook on the market’s future movement. This is not a retail trader’s move; it’s a professional trader’s strategic positioning.

The Background of Accelerated Capital Flows at Year-End

The period from year-end to early January is often a key time for reallocation of funds. Tom Lee pointed out in his analysis that the trends in gold and silver suggest a broad outlook for digital assets in 2026. The strength of traditional commodities may be providing macro support for the performance of cryptocurrencies.

On-chain data shows that BTC and ETH reversed their net outflows on the last day of the year. Such a shift usually indicates that market participants are reassessing the value of risk assets. Whether this enthusiasm can continue into the first trading week of the year will be a key point to watch.

Summary

Breaking through 90,000 is indeed a significant milestone, but it’s not just good news. The market shows an interesting divergence: institutions are systematically exiting, while retail investors are actively entering; whales are watching from the sidelines, retail is accumulating; the options market is preparing for $100,000. This diverse market structure indicates both market heat and the coexistence of risks and opportunities.

In the short term, there may be resistance around 90,000, but from the perspective of capital flow and retail enthusiasm, upward momentum is building. The key is whether this enthusiasm can push BTC close to the $100,000 call option target before the end of January. If it does, it suggests retail and options traders are more perceptive; if not, a reassessment of the market’s true heat is needed. In any case, the next month warrants close attention.