Overview
- Bitcoin briefly topped $94,000 on Jan. 5 but traded back near $92,000 during U.S. hours on Jan. 6, underscoring a fragile structure with resistance near $94,000 and key support around $90,000–$91,000.
- U.S. spot Bitcoin ETFs reopened 2026 with strong demand, drawing roughly $697 million in a single day and more than $1 billion across the first two trading sessions, signaling renewed institutional participation.
- Derivatives flows amplified the move higher as roughly $400–$520 million in shorts were liquidated while options activity concentrated in $100,000 strike calls, with January open interest near $1.45 billion on Deribit.
- On-chain data show larger holders accumulated about 56,227 BTC since Dec. 17 as smaller wallets took profits, pointing to supply shifting toward long-term holders.
- Geopolitical headlines around U.S. actions in Venezuela influenced sentiment, with social-media claims of a large Venezuelan BTC reserve described as unverified, while the White House confirmed talks with U.S. oil companies about the country’s energy sector.