Overview
- Bitcoin briefly reached about $94,800 before easing to the low $93,000s, marking the highest levels since mid‑November.
- U.S. spot Bitcoin ETFs took in over $1 billion across the first two trading days of 2026, including roughly $471 million on Jan. 2 led by BlackRock’s fund.
- Derivatives flows intensified the move, with rising open interest in January $100,000 calls on Deribit and more than $400 million in short positions liquidated over 24 hours.
- Analysts highlight $94,000 as a near‑term pivot that could set up a run toward $100,000 if reclaimed on a daily close, with support eyed near $90,000–$92,000.
- Market breadth improved as XRP posted double‑digit gains and memecoin activity hit records, though thin liquidity, elevated leverage and a declining Sharpe ratio point to a fragile setup.