Overview
- Bitcoin briefly traded above $90,000 during U.S. hours on the first 2026 session as crypto stocks and major tokens advanced.
- SOPR hovered near 0.994 and exchanges saw net coin outflows, signaling balanced profit-taking alongside continued long-term accumulation.
- CryptoQuant’s Julio Moreno said multiple indicators turned bearish in November, with price below the one-year moving average and a potential realized-price floor near $56,000–$60,000.
- The firm’s base case for 2026 favors a wide range between roughly $80,000 and $140,000, with downside risk from a macro shock and lower-probability upside requiring steady ETF inflows and easier policy.
- Traders note conditional bullish setups targeting $94,000–$106,000, though confirmation and volume are required, and spot ETFs recorded net outflows this week even as BTC tapped $90,000.