U.S. institutional giants return! Bitcoin surges past $93,000, and these 3 indicators flash "bullish signals"

As 2026 officially kicks off, Bitcoin bulls finally see a long-awaited dawn. Multiple on-chain indicators are simultaneously signaling a bullish reversal, including Coinbase premium rebounding from its lows, the Fear & Greed Index bouncing back, and the Long/Short Ratio remaining above 1.0 after deleveraging, indicating that market structure is gradually recovering. As of today (5) at 10 a.m., Bitcoin has risen back to $93,000, erasing the gloom from late December when it briefly fell below $87,000. However, despite the improving market conditions, sentiment remains fragile. Analysts warn that until overall economic variables are fully resolved, investors should remain cautious and avoid overreacting in the short term.

Institutional Capital Reflows: Coinbase Premium Index Rebounds The first bullish signal that catches the eye comes from the flow of funds from U.S. investors, especially institutions. The Coinbase Premium Index, which measures the buying strength difference between the U.S. and global markets, is performing a V-shaped reversal. After plummeting to -150 at the end of December, it has now rebounded significantly, approaching the zero line. In other words, after the year-end profit-taking pressure subsided, U.S. institutional investors have returned to the “buy side.” If the Coinbase Premium Index continues to turn positive and stabilizes, it confirms that “dollar buying” has officially resumed. This is often a leading indicator for Bitcoin’s upward momentum. Farewell to “Extreme Fear”: Market Sentiment Warms Up Market sentiment has also improved in tandem. The Crypto Fear & Greed Index, which combines volatility, trading volume, social sentiment, and market momentum, has risen from 29 last week to 40. This indicates that the market has officially exited the “extreme panic” zone. Although the values across different platforms still vary (CoinGlass shows 26, Binance shows 40), the trend of “fear diminishing and confidence returning” is quite clear. Solid Market Position: Bulls Still Hold the Upper Hand Derivatives market data also supports the bullish outlook. Although the Bitcoin Long/Short Ratio has recently declined due to deleveraging, it remains firmly above the critical 1.0 threshold. When the Long/Short Ratio exceeds 1.0, it indicates that the amount of capital betting on price increases (longs) in the futures market exceeds that betting on declines (shorts). Current data suggest that the market structure is experiencing a healthy cooling rather than a panic crash, reducing the risk of large-scale cascading liquidations in the future. Reasons to “Remain Cautious” Despite multiple indicators turning positive, risks that cannot be ignored still exist. First, although the Fear & Greed Index has rebounded, it remains in the “fear” zone, reflecting lingering doubts among investors about the Federal Reserve’s policy direction. Especially after the hawkish signals from the December FOMC minutes, the market has readjusted expectations for rate cuts. Additionally, the recent rebound may partly be due to the end of year-end “tax-loss selling” (selling assets at a loss to offset taxes), which is a technical rebound rather than a sign of full confidence returning. Analysts emphasize that to confirm a complete trend reversal, the Coinbase Premium Index must decisively turn positive and stabilize, indicating that institutional capital has fully entered the market. Market Outlook Overall, the return of institutional buying, improved sentiment, and stable bullish positions are building an optimistic protective barrier for Bitcoin’s price action in early 2026.