Bitaigen Research 
Bitcoin surged past the $96,000 mark in the second week of January, setting a new 2026 high. Both on‑chain and derivatives metrics point to a continued uptrend, and the technical picture displays a clear bullish signal with earlier resistance levels now weakened.
The recovery that began at the start of the year persisted into the second week of January, pushing the cryptocurrency above $96,000 and establishing a fresh 2026 peak. This rally formed a higher‑high structure that technical analysts interpret as an unambiguous bullish indication.
Bitcoin daily chart. Source: Cointelegraph/TradingView
Key Takeaways
- Bitcoin daily close broke the $95,000 threshold, confirming a higher high and eroding recent resistance.
- Binance’s net absorption briefly exceeded $500 million, while open interest rose and the hourly funding rate fell to its lowest level since October 2025.
- Resistance above $95,000 appears limited; some analysts project a technical upside toward $103,500.
In this article we outline the full picture of Bitcoin’s recent breakthrough of critical price levels, combining on‑chain activity, derivatives positioning, and funding‑rate data. We dissect the logic behind the emerging bullish signals and assess possible future resistance and support zones. By applying systematic technical analysis, readers can grasp the pivotal moments of market evolution. Continue reading for the complete analysis.
Key Bitcoin Metrics Indicate the Uptrend Will Persist
- On‑chain metrics show that Bitcoin’s upward momentum is gaining strength. The Coinbase premium, after a sustained sell‑off from January 6 through the following Sunday, has gradually returned toward normal levels. Although it remains in negative territory, the selling pressure has noticeably eased, suggesting that panic among U.S. investors is diminishing.
Bitcoin Coinbase premium indicator. Source: CryptoQuant
- Inflows: The seven‑day average of Bitcoin inflows to Coinbase Advanced is roughly 2.5 × the baseline level. Analysts note that such inflow spikes often precede price appreciation, over‑the‑counter settlement activity, or ETF positioning rather than immediate sell‑offs.
- Stablecoin inflows remain subdued, indicating that many participants are still on the sidelines. Historically, stablecoin liquidity lags behind Bitcoin inflows; a future increase could translate into a conditional bullish signal.
Bitcoin price and open‑interest percentage change. Source: Amr Taha/CryptoQuant
- Derivatives data: Binance’s net absorption expanded dramatically, with the one‑hour candlestick showing more than $500 million of aggressive buying.
- Open interest grew in tandem; historically, such a combination tends to favor trend continuation rather than reversal. Similar conditions earlier this month foreshadowed a rapid climb toward $96,000.
- Funding rates: The hourly Bitcoin funding rate hit its lowest point since October 17 2025, reflecting crowded short positions and a cautious approach to leverage. When funding rates normalize, price often spikes, forcing shorts to liquidate and pushing the market higher.
Funding rates for Bitcoin across all exchanges. Source: CryptoQuant
Critical Price Levels Bitcoin Traders Should Watch
- Short‑term focal point: The $100,000 mark is currently the most watched level.
- Upper supply zone: The range between $103,300 and $107,500 is viewed as the next major resistance area. The $95,000‑to‑$103,300 corridor offers relatively weak resistance; if momentum holds, the price has ample room to expand.
Bitcoin 4‑hour chart. Source: Cointelegraph/TradingView
- Liquidity conditions: Overall liquidity in both spot and futures markets remains low, making Bitcoin more susceptible to sharp moves. The recent breakout above $95,300 cleared roughly $270 million of short positions, shifting the next major liquidity‑concentration zone in favor of longs.
- Support area: A daily‑time‑frame order block between $92,500 and $90,000 has formed and could act as the next higher low. Holding this zone would markedly increase the probability of a breach above $100,000 before the end of the month.
The analysis above details the comprehensive strengthening of on‑chain and derivatives indicators that propelled Bitcoin (BTC) past $96,000, establishing a 2026 record high. For the latest Bitcoin price movements and further commentary, follow Bitaigen (比特根) and its related articles.
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Related Reading
- Bitcoin Rebounds on Spot‑ETF Inflows: Short‑Term Impact
- Bitcoin Drops After Supreme Court Rules on Trump Tariffs
- Bitcoin Post‑Halving 2025: $88,000 Price, Down‑Year Outlook
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