Bitcoin rallied in the evening, breaking past $91,500 as trading volume picked up dramatically. Volumes rose nearly 75% over the 24-hour period. Ethereum rose to nearly $3,150 in the evening hours, with trading volume surging 84% in the last 24 hours. The two assets are off to a good start in 2026, with Bitcoin up 4.42% and Ethereum up over 5.60%.
Over $140 million was liquidated from the cryptocurrency market in the last 24 hours, with nearly equal amounts of longs and shorts wiped out. Bitcoin’s open interest rose 0.69% in the last 24 hours, with nearly 70% of Binance traders with open BTC positions long on the apex cryptocurrency. The fear sentiment continued to dominate the market, according to the Crypto Fear and Greed Index. The global cryptocurrency market capitalization stood at $3.1 trillion, following a modest increase of 0.45% in the last 24 hours.
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, noted that Ethereum is holding above a “crucial” resistance zone around $3,000- $3,100. That means that the likelihood towards new monthly highs has significantly increased. EliZ, another popular cryptocurrency commentator, said Bitcoin remains “structurally weak” with no “credible” signs of a bottom. Any rebound at this stage is merely a technical reaction until the structure changes.
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