NEW YORK, January 6, 2026, 13:43 EST — Regular session
Bitcoin fell 2.2% to $91,849 on Tuesday, reversing an earlier climb that took it as high as $94,683. Crypto-linked U.S. stocks also slipped in regular trade.
The pullback came as Morgan Stanley filed with the U.S. Securities and Exchange Commission for ETFs tied to bitcoin and solana — a first such move by a major U.S. bank into the crypto fund market. “A bank entering the crypto ETF market adds legitimacy to it, and others could follow,” said Bryan Armour, an ETF analyst at Morningstar. 1
Investor demand for listed crypto products has stayed firm even as prices swing. U.S.-listed spot bitcoin ETFs — funds that hold bitcoin directly and trade like shares — logged $697.2 million in net inflows on Monday, led by BlackRock’s IBIT at $372.5 million and Fidelity’s FBTC at $191.2 million, Farside Investors data showed. 2
In U.S. trade, Coinbase was down 3.3% and bitcoin-holder Strategy slid 5.6%, while miners Marathon Digital and Riot Platforms fell 5.1% and 1.4%, respectively. BlackRock’s iShares Bitcoin Trust ETF was down 2.3%, and Robinhood Markets — another retail trading platform with crypto exposure — dropped 3.7%.
On the stock side, analyst calls have also been driving short-term swings. Goldman Sachs upgraded Coinbase to “buy” from “neutral” and lifted its price target to $303 from $294, a report said, helping push the shares higher on Monday. 3
Macro signals are still doing much of the heavy lifting for bitcoin’s day-to-day direction. Traders are focused on U.S. economic data later this week for clues on the Federal Reserve’s rate path, a key swing factor for risk assets. 4
But crypto remains prone to sharp reversals, and ETF inflows can turn quickly if volatility rises or risk sentiment deteriorates. A break below the $90,000 level would test recent support and could amplify pressure on bitcoin-linked equities.
The next test is Friday’s U.S. Employment Situation report for December, due at 8:30 a.m. ET, which can reset rate bets and spill into crypto prices. 5
