Bitcoin has surged into the new year, buoyed by renewed optimism and strong spot ETF inflows. The rally comes despite geopolitical tensions after U.S. actions in Venezuela, with traders continuing to favor liquidity and institutional demand over macro uncertainty. The market remains resilient, reflecting a demand backdrop from institutions and improved market liquidity.
Whale activity shifted notably over the past day. Addresses holding 10k–100k BTC sold about 50,000 BTC from December 29 through January 3, signaling caution as prices faced key resistance. After BTC cleared the $90,000 level, the same wallets returned to buyers, adding around 10,000 BTC worth roughly $912 million, underscoring renewed confidence and potential to absorb near-term selling pressure.
Whales often play a liquidity-providing role during volatile periods. Their net buying shift signals expectations of higher price momentum. If buying persists, it could reinforce support and help stabilize the uptrend into early 2026.
Miner metrics show a spike in selling over the last 24 hours, with outflows increasing from 55 BTC to 604 BTC. While this represents only a small share of overall supply, it could influence near-term moves. A fresh supply tilt could slow gains if demand does not keep pace, though a complete reversal remains unlikely.
Technically, BTC broke a six-week descending wedge and was trading near $91,327. Sustaining the breakout requires holding above $92,031, opening a path toward $95,000. Recovery above key moving averages would help confirm the uptrend, with the 50-day around $91,554 and the 365-day around $97,403 acting as resistance. Near-term risk depends on macro developments, with markets likely to react to U.S. Venezuela actions on Monday, and a risk-off mood could push prices below $90,000.
Leave a Reply