Last Friday, (January 2nd), the iShares Bitcoin Trust Fund under BlackRock experienced a surge of strong capital inflows. The single-day inflow reached $287.4 million — the largest single-day increase since October of last year.

Not only this fund was active. The entire US spot Bitcoin ETF market recorded $471.3 million in capital inflows on the same day, hitting a new single-day high since mid-November. This wave of inflows effectively offset previous net outflows, bringing the overall net inflow for last week to $459 million.

Interestingly, the background of this rally is quite subtle. Global geopolitical tensions are intensifying, oil futures have even fallen to a four-year low, but Bitcoin has instead remained stable and gained for four consecutive days.

Market analysts point out that this volatility highlights the unique properties of cryptocurrencies as risk assets. During times when traditional commodities are under pressure and global political risks are rising, investors are beginning to reassess the hedging value of crypto assets. Bitcoin’s stable performance is attracting increasing attention from both institutional and individual investors.