Bitcoin hovers near $96,000 as ETF inflows clash with options gamma walls around the $94,000 range

Bitcoin is trading close to $96,000 while sizable US spot ETF inflows and options dealers’ long gamma positioning are pulling price in opposite directions. Recent flows of roughly $1.06 billion into spot Bitcoin ETFs since Jan. 8 and compressed volatility near 32% realized and 33% implied have kept price confined around the $90,000–$94,000 band, with key levels now highlighted near $91,500 on the downside and just under $97,800 on the upside.