- Bitcoin’s short-term struggle to rally above $90,000 could be over as it gains fresh momentum.
- Bitcoin price crash in Q4 attracted the highest wave of accumulation by whales holding between 100 and 1,000 BTC.
- A fake-out rally? What to consider when determining if the current rally will be sustainable.
Bitcoin price has been consolidating below $90,000 for the last two weeks, and it has struggled to rally above the same price point. However, the cryptocurrency managed to push above the same level and could be on the verge of a bullish breakout to kick off 2026.
BTC price surged as high as $90,925 courtesy of bullish momentum over the last two days. This marked the latest attempt at a breakout after trading below the same price level for the last 2 weeks.
This fresh bullish attempt was also noteworthy because it was the first time its RSI had pushed above the 50% level since late October. It’s a sign that bullish momentum has been building up. Moreover, the MFI signaled a fresh liquidity injection backing this latest Bitcoin price upside.
Here’s Why Bitcoin Price Excitement is Building Up
Bitcoin price has been consolidating for the last few weeks with limited directional movements. As a result, the market has been eagerly anticipating a clear sign of directional momentum.
The BTC price appears to be establishing a bias early in 2026, and there are some reasons behind the bullish expectations. The cryptocurrency traded at heavily discounted prices in the second half of 2025.
More importantly, robust accumulation suggests that key market participants have been positioning in anticipation of a recovery. Recent large holder data revealed an accelerated accumulation among whales holding between 100 BTC and 1,000 BTC.
The cohort of whales in this category achieved the fastest pace of Bitcoin accumulation observed since 2012. This type of accumulation historically indicates bullish anticipation and may be one of the reasons behind the latest BTC price uptick.
Interestingly, Bitcoin price reflected sell pressure from long-term holder addresses in the second half of 2025. However, this latest data reveals who has been taking advantage of the dip by positioning for a move to the upside.
Despite these observations, Bitcoin still maintained some downside risks. Just because some whales have been buying aggressively doesn’t guarantee a sustained bullish recovery.
Why BTC Price May Still Face Downside Risks?
If the markets have taught us anything over the past few weeks, it’s that we must always expect the unexpected. In this case, the unexpected would be another sharp drop to break the bullish momentum.
Large order book flows in the first two days of 2026 were still predominantly in the red. For example, the spot segment generated over $13 million in net outflows on OKX and more than $18 million on Coinbase.
Binance spot net flows were net positive by about $1.23 million, and were drowned out by net whale outflows on other exchanges. Binance and OKX perpetuals collectively added up to $818 million in net shorts.
The large order book findings were noteworthy because they closely align with what the market has demonstrated during periods of weak demand. Such periods were plentiful in the second half of 2025, and they often ended in capitulation.
In other words, the Bitcoin price may face the risk of another failed bullish attempt. Aggressive demand from the whale cohort often characterizes a robust uptick. A robust uptrend will be confirmed if whale and institutional activity move accordingly in the next few days.
Source: https://www.thecoinrepublic.com/2026/01/03/bitcoin-price-reclaims-90000-resistance-whats-next/
