Bitcoin Climbs Above $92K While Solana Eyes $200 Following Morgan Stanley ETF Filing

Bitcoin Recovery Driven by Strong ETF Inflows

Bitcoin has climbed 1.5% in the last 24 hours to trade at $92,558 as spot Bitcoin exchange-traded funds began 2026 with substantial institutional investment ^[2]. According to data from Farside Investors, U.S. spot Bitcoin ETFs received $697 million on January 2, accumulating over $1.1 billion in net inflows during the first two trading days of the year ^[2].

This represents a significant reversal from the outflows experienced in late 2025, when $3.48 billion and $1.09 billion left these funds in November and December respectively ^[2]. Geoff Kendrick from Standard Chartered identified spot Bitcoin ETF flows as a key driver of Bitcoin's price performance in 2025 ^[2].

The cryptocurrency recently broke above the key horizontal resistance near $90,000 on the 4-hour chart, signaling a strong bullish breakout following the formation of a parabolic curve that began near $85,000 ^[2]. The Relative Strength Index currently sits around 55.65 after peaking near 70.86, suggesting the market is cooling down after strong buying activity ^[2].

Morgan Stanley Files for Solana Trust

In a significant development for altcoin markets, Morgan Stanley filed a Form S-1 with the U.S. Securities and Exchange Commission seeking approval for both a spot Bitcoin ETF and a Solana Trust ^[1]. The Morgan Stanley Solana Trust is designed to track the price of Solana and allow investors to gain exposure to SOL through traditional investment vehicles, eliminating the need for direct custody of the token ^[1].

According to SoSoValue data, Solana funds have grown to more than $1 billion in total net assets, following cumulative net inflows of nearly $800 million and daily total inflows of $9.22 million ^[1]. The filing is viewed as potentially playing a critical role in boosting institutional participation, similar to what has been observed with Bitcoin spot ETFs ^[1].

Solana Price Faces Near-Term Resistance

Despite the positive news, Solana price is trading at $138.78, down a fraction of a percentage in the last 24 hours, though it has surged 10% over the past week ^[1]. The cryptocurrency is currently facing resistance after breaking out of an extended consolidation zone within the $127 area ^[1].

Analysis of the SOL price chart on the 3-day timeframe shows that Solana has broken out of the $135 support level, which coincides with a lower support area during a consolidation phase that has capped the asset below the $168 resistance ^[1]. Key Fibonacci Retracement levels to watch include $155.84 and $174.57, with the 50-day and 200-day Simple Moving Averages at $174.25 and $168.70 respectively ^[1].

The Solana Relative Strength Index stands at 45.98 and is rising, indicating that buying pressure is increasing but still within the equilibrium zone ^[1]. Trading volume surged by over 14% in the last 24 hours to $6.26 billion, signaling increased market activity ^[1].

Broader Crypto Market Consolidation

The overall cryptocurrency market has entered a consolidation phase after a solid start to the new year ^[3]. Ethereum is trading at approximately 3,250 U.S. dollars, down 1.36% on a daily basis, though it recently surpassed the 3,300 dollar mark for the first time in an extended period ^[3]. XRP continues to show relative strength at about 2.28 dollars, gaining more than 20% over the past week ^[3].

Lacie Zhang from Bitget Wallet characterized the current environment as a "rebalancing phase," with investors managing risks and liquidity while fundamentals remain positive ^[2]. Matrixport noted the "clean-slate effect" of the new year helped the market reset after $30 billion in Bitcoin and Ethereum futures were unwound following October's $19 billion crash ^[2].

Market participants are now focused on January 15, 2026, when the U.S. Congress will discuss the Crypto Market Structure Bill (CLARITY Act), which aims to address regulatory uncertainties in the crypto market and define jurisdictional responsibilities more clearly ^[3]. Many market participants would view passage of this legislation as a positive signal for the entire industry ^[3].