Bitcoin price is up 7% over the past 24 hours, trading at $92,844 as of 5:56 a.m. EST, while daily trading volume is up 21% to $86.22 billion.
That BTC price surge began shortly after Vanguard lifted its long-standing ban on trading Bitcoin ETFs on its platform, opening the door for millions of conservative, long-term investors to easily gain exposure to the leading crypto.
Bloomberg ETF analyst Eric Balchunas called this move the “Vanguard effect,” noting that Bitcoin rose about 6% immediately after the U.S. market opened on the first day Vanguard customers could trade Bitcoin ETFs.
THE CATGUARD EFFECT: Bitcoin jumps 6% around the US open on the first day after the Bitcoin ETF ban is lifted. Chance? I don’t think so. Also $1 billion in IBIT volume in the first 30 minutes of trading. I knew those Vanguardians had some dough in them, even some of the most conservative investors… pic.twitter.com/OKyihvEqqD
— Eric Balchunas (@EricBalchunas) December 2, 2025
Balchunas also highlighted that BlackRock’s IBIT spot Bitcoin ETF saw trading volume of around $1 billion within the first 30 minutes of that session.
Bitcoin Price Boosted by ETF Demand
ETF flow data from Farside Investors shows that US spot Bitcoin funds have returned to net inflows. This is after a difficult November, when redemptions exceeded $4.3 billion. Recent daily prints show money returning to key products such as IBIT and FBTC.
This pushes the running total of net creations back up and signals that the worst of the selling pressure may be over for now. Analysts note that even modest positive flows can have an outsized impact on the Bitcoin price. This is because spot ETFs must purchase real Bitcoin from the market, removing supply at a time when new issuance is already limited following previous halving events.
If the current multi-day inflows continue, especially with Vanguard accounts now having access to these funds, this could act as a stable bid for the market and support any potential attempts by BTC to reclaim the $100,000 region.
Bitcoin On-Chain Signals Show Healing
On-chain data providers show that the latest market crash has left a large number of short-term speculative coins in losses. However, the long-term holders mostly stayed put. This suggests that the sell-off had more to do with leverage and weak hands than a change in long-term conviction.
Currency balances have moved lower again and currencies are heading back into cold storage, usually signaling renewed accumulation rather than continued panic selling.
Bitcoin Exchange Reserve (all exchanges) Source: CryptoQuant
Bitcoin Price Prediction: Key Levels to Watch
The daily chart shows Bitcoin recovering from a recent low near $80,000, with the price now trading around $92,800 and trying to push back above a descending resistance line that started from the November top.
The 50-day simple moving average (SMA) is just above $100,000, while the 200-day SMA is higher near $110,000, creating a technical zone that bulls must reclaim to confirm that the broader uptrend is back in full control.
The RSI is recovering from oversold territory around the mid-40s to the low 50s. Meanwhile, the MACD is trying to turn from negative readings to the upside, and the ADX around the high 30s shows that the recent downtrend was strong, but may now be losing steam.
BTCUSD analysis source: Tradingview
If buyers can push BTC above the downside green resistance channel shown on the chart, the next upside targets are near $109,500 (around the 200-day SMA) and the prior range will peak around $126,000, which aligns with the upper green trendline.
On the downside, immediate support can be found just below $90,000 along the midline, with stronger support closer to $74,000.
A clear break below the lower green support band on the chart would warn that the recent upswing has failed and open the door to a deeper correction before the bulls try again.
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