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Bitcoin price is stabilizing above the $95,000 support zone, keeping a bullish outlook open as liquidity and institutional demand build. Analysts have cited that this level may determine if the market can rebound towards $100,000.
However, upside expectations are colliding with macro uncertainty and a major on-chain “cost basis” level near $102,000. Traders are now watching whether liquidity, positioning, and institutional demand can outweigh risk-off shocks.
Bitcoin (BTC) has held above $94,000 after recent tests of the zone, with buyers stepping in to keep price action steady. As long as that area remains intact, the market retains a near-term upside bias.
According to Crypto analyst Lennart Snyder, market behavior is now being driven by Bitcoin’s price structure rather than momentum growth. BTC has continued to hold near $94,630, which Snyder identified as a critical four-hour (H4) structural base and the key swing low that must remain intact to keep bullish conditions in place.
“For longs, I'm looking to hold the low and break market structure by gaining ~$95,820. When this happens, longs are triggered towards the ~$97,960 monthly high,” the analyst added.
Key resistance sits between $95,820 and $98,200, where traders are looking for a clear breakout. A move above $95,820 could open a run toward the monthly high near $97,960, based on the levels cited.
Liquidity conditions are also in focus, with stablecoin total market capitalization nearing its all-time high. According to experts, the rise has increased liquidity that can support demand for Bitcoin and other digital assets.
Funding rates and broader sentiment were described as mixed, suggesting retail traders remain cautious. However, institutions are gradually returning, with references to Bitcoin being added via spot exchange-traded funds (ETFs) and company balance sheets.
Analysts highlighted supply dynamics, with treasury firms like Strategy (MSTR) continuing to tighten available supply. In addition, data from Coinglass indicates a rise in whales holding despite being underwater, with a cost basis in the $90,000–$92,000 range.
Furthermore, derivative positioning is showing renewed bullishness in options markets. The put/call ratio was cited at 0.71, down 10%, which implies more call demand relative to puts and is being interpreted as ‘renewed’ bullish positioning rather than panic hedging.
Macro headlines remain a volatility factor, with President Donald Trump’s shifting comments about the next Federal Reserve Chair cited as a pressure point for risk assets. On January 16, Trump walked back reports of appointing Kevin Hassett, which was linked to a risk-off move and a 1.45% Bitcoin drop.
Against that backdrop, analysts pointed to a “historic divergence” in behavior, where holders are not capitulating despite uncertainty. However, analysts warned that excessive optimism may be premature while volatility remains elevated.
Another major level is the short-term holders (STHs) realized price, flagged by analyst Darkfost at about $102,000. The metric represents the average acquisition price for recent buyers, and the analysis notes that the calculation is adjusted for 800,000 BTC recently moved by Coinbase.
Glassnode analyst Chris Beamish also described the STH realized price as a key inflection point. Beamish said reclaiming that level would put recent buyers back in profit and help bullish momentum re-accelerate, while failure would keep Bitcoin in recovery mode.
According to the analysis, support levels are now at $95,000 and $94,630 in the short term and $89,326 if support fails to hold the momentum. If a downside follows, support zones were cited around $83,822–$82,477, with deeper support referenced at $74,496–$71,237 if $82,477 breaks.
Moreover, resistance levels to watch include $95,820, $97,960, and $98,200, with $98,200 cited as the next key ceiling. If breached, that move was framed as opening a path toward $107,500.
The $107,500 area was also cited as a key level where Bitcoin could either extend the uptrend or face rejection.
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