At the beginning of the new year, the cryptocurrency market has experienced a strong rebound. Bitcoin rarely rose during U.S. stock trading hours, breaking through the $90,000 mark, with a daily increase of 2-3%. Ethereum also gained strength, surpassing $3,100. The total market capitalization of the entire market exceeded $3 trillion, and trading volume has significantly rebounded.

The driving forces behind this rebound come from multiple aspects. The post-holiday capital inflow effect is significant, with strong net inflows into ETFs being the main driver—on January 2nd, the single-day BTC ETF inflow exceeded $400 million, and ETH ETFs also exceeded $100 million. Analysts generally believe this is closely related to the so-called "January Effect" (the capital rotation effect in the first week of the new year).

Among them, XRP performed the best, becoming the leading cryptocurrency of the day. XRP rose over 8% intraday, once returning above $2, marking the first time since mid-December that it broke through this level. The US spot XRP ETF continued to attract funds, with a single-day inflow of $13.59 million on January 2nd, and total inflows exceeding $1.1 billion. Coupled with the market interpreting the SEC commissioner change as a more friendly regulatory signal, XRP's momentum has become even more fierce—at one point, it even surpassed BNB to become the third-largest cryptocurrency.

However, it is also worth reviewing past fluctuations. During November-December 2025, BTC ETFs experienced a record outflow of $4.57 billion, with prices falling 20% from their highs. This large-scale outflow contrasts with the current strong inflows and has led to differing opinions in the market about the subsequent trend.