Analysis: Powell's investigation triggered a short-term breakthrough of $92000 in Bitcoin, but continued net outflows from ETFs and weak leverage demand suppressed upward potential BlockBeats News: On January 13th, according to Cointelegraph, Bitcoin briefly rose above $92000 on Monday due to a criminal investigation by US federal prosecutors into Federal Reserve Chairman Powell. Analysts question whether the independence of the Federal Reserve may be impacted, which could benefit scarce alternative assets such as Bitcoin. Despite the brief boost caused by this news, traders remained cautious overall, mainly due to the continued outflow of funds from Bitcoin ETFs and weak demand for long leverage. Despite a recent rebound, Bitcoin is still down about 23% from its October 2025 high, while gold and silver hit historic highs in 2026. This trend differentiation has also prompted traders to question whether the narrative of "Bitcoin as a digital store of value" is weakening. The annualized premium (i.e. basis) of Bitcoin futures remains at a neutral bearish level of approximately 5%. Generally speaking, when market sentiment truly shifts to watch, the premium of Bitcoin futures relative to spot often reaches or exceeds 10%. More importantly, the Bitcoin spot ETF recorded a total net outflow of $1.38 billion for four consecutive trading days. What is even more worrying is that despite Strategy increasing its holdings of Bitcoin worth approximately $1.25 billion in the past month, the price of Bitcoin has still not effectively stabilized above $94000. Overall, the attractiveness of Bitcoin and cryptocurrencies remains weak, as evidenced by the flow of ETF funds and weak demand for leveraged long positions in Bitcoin. This indicates that the probability of an unexpected increase or impact on $105000 in the short term is relatively low.