Bitcoin Bulls Rest, Preparing for Rally to $101.5K
Bitcoin traders' concerns have turned to bullishness, as evidenced by futures pushing to $95,000 this week. Will the bulls make another attempt after retesting a key support level?
In the year The beginning of 2026 has seen Bitcoin and altcoins return to their weekly highs, and current conditions in the markets will improve investor sentiment and trading volumes. Since January 1, Bitcoin has continued to show improvement in the consolidation of the tightening range, which is clearly visible in the daily high lows and high highs, leading to the weekly high of $94,800.
A 7-day liquid heat map data from Hyblock shows long liquidity stacks between $89,000 and $87,000 and short positions are positioned near the weekly high of $95,000.
From a technical trader's perspective, the year's rally has pushed the price above the 20-day moving average, which is currently converging with the 50-day moving average. After BTC held $95,000 and exhausted the short positions in that zone, some traders seem to have closed their positions in anticipation of a test of the 20-MA lower support at $89,400.
If the current trend continues and volume allows, another attack on the $95,000 level is likely in the coming days. Such a move could lead to short-covering and liquidity, with bulls taking advantage of a clear gap in the BTC/USDT (Binance) pair's volume profile, setting Bitcoin up for a 13% rally to $101,500.
As shown in the chart below, most of this week's intraday Bitcoin price action was driven by traders using durable futures to trigger liquidity. Note how BTC rose to $94,800 on January 5th and $100 million worth of shorts was released in Binance in the BTC/USDT pair, amounting to nearly $1.1 billion worth of futures purchases, according to TRDR.io data.
As detailed earlier, the current liquid heatmap data and order book structure suggest that a similar scenario may occur again if traders push the price of BTC towards $94,000.
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