Bitcoin Holds Above $91,000 as Whale Distribution Slows and Bullish Momentum Builds
Bitcoin is trading above $91,000 after a time of heavy whale activity and rising political instability. Technical indications show that the
Quick overview
- Bitcoin is currently trading above $91,000, with potential to reach $100,000 by the end of the month despite short-term risks.
- Recent whale activity indicates significant profit-taking rather than panic selling, while long-term holders are slowing their distribution.
- Political instability and macroeconomic concerns have led to short-term volatility, with institutional investors showing caution through significant withdrawals.
- For Bitcoin to approach $100,000, it must maintain support in the $89,000–$87,000 range, with ongoing corporate accumulation reinforcing bullish momentum.
Bitcoin BTC/USD is trading above $91,000 after a time of heavy whale activity and rising political instability. Technical indications show that the cryptocurrency could reach the crucial $100,000 barrier before the end of the month, even though there are dangers of short-term stabilization.
Veteran Whale Activity Sparks Distribution Concerns
Capriole Investments’ on-chain data shows the original Bitcoin whales, or addresses that have held coins for more than seven years, exchanged almost $286 million worth of BTC on Saturday. This was the biggest increase in old-coin activity since November 3, 2025, when similar movements happened before a market downturn and the metric hit about $570 million.
But analysts say that this behavior is more likely to be planned profit-taking than panic selling. Importantly, Glassnode data shows that the distribution of long-term holders has slowed down a lot, and net outflows have dropped from very high levels. The slowing down of this process shows that the market may have already absorbed a lot of the extra supply from older coins.
Countering the distribution story, accumulator addresses—wallets that buy without selling—have added about 136,000 BTC in just the first 11 days of January 2026, showing that committed holders are still buying.
Political Turbulence Adds Short-Term Volatility
Last week, Bitcoin dropped for a short time after Federal Reserve Chair Jerome Powell made an unusually frank statement about criminal probes into his actions. As traders looked at political and macroeconomic threats again, the Bitcoin fell from $92,500 to about $90,500.
According to SoSoValue data, Bitcoin exchange-traded funds saw net withdrawals of $1.37 billion from Tuesday to Friday last week. This was during a time of political tension and institutional caution. The outflows show that professional investors are still cautious since they don’t know what will happen with policy.
Retail sentiment is also showing indications of concern. CryptoQuant’s Short-Term Holder SOPR (Spent Output Profit Ratio) has been below the neutral 1.00 mark for more than 70 days. This means that short-term investors have been losing money consistently. The metric fell to about 0.98 at the end of the year, which was the last time it was seen in November 2022 when Bitcoin was trading at $16,000.
BTC/USD Technical Analysis: Bullish Setup with Near-Term Risks
Bitcoin’s technical structure is getting better, even if it has been rather volatile recently. According to crypto analyst Myles G., the five-day MACD has turned bullish. This is a sign that was previously seen around the bottom of the 2022 bear market, which was followed by a rise of more than 430%.
According to weekly chart analysis, Bitcoin is holding steady below critical resistance around $94,000, with the 50-week moving average acting as dynamic resistance in the mid-$90,000 range. The overall trend is still positive because the 100-week moving average is still trending up, well below current price levels. This shows that the macro bull market structure is still in place.
But traders say that there could be short-term pullbacks. Bitcoin has dropped an average of 5% below the 14th weekly open candle for seven months in a row. This suggests that a short rise toward the $86,000-$87,000 zone is still feasible.
When you look at aggregated liquidity statistics, it seems good since there is more bid-side liquidity than ask-side liquidity in both the spot and futures markets. Liquidity is gathering around $89,200 and $89,700, which is a key pivot point. Some analysts think that Bitcoin would need a liquidity sweep below $89,000 before it can build up enough speed to challenge $100,000.
Bitcoin Price Prediction: Path to $100,000 Depends on Key Support Levels
For Bitcoin to hit six digits, it will need to stay in the $89,000–$87,000 level. If the price bounces back strongly from this area, it could mean that passive bids have been filled. This could lead to a test of $100,000 as early as next week.
If support doesn’t hold, the danger of a larger drop toward $86,000 goes increased. External liquidity near $84,000 is a longer-term downside target. But as accumulation continues and momentum signs become bullish, the chances of Bitcoin touching $100,000 before February stay high, as long as political uncertainty doesn’t get worse.
Corporate accumulation is still going strong. Last week, Strategy (previously MicroStrategy) added 13,627 BTC at an average price of $91,519, increasing its total holdings to 687,410 BTC. This institutional belief, along with a slowing down of long-term holding distribution and an increase in technical momentum, suggests that Bitcoin’s consolidation phase may be coming to an end.
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