After tagging a local high near $98,000 on Wednesday, Bitcoin pulled back for two sessions and traded below $95,000 by Friday’s New York hours. According to CoinGlass, the Coinbase premium rolled over near the highs as spot demand faded. CryptoQuant data show short-term holders realized over 40,000 BTC in profits on Jan. 15 and more than 30,000 BTC on Jan. 6.

Ether trades near $3,300 and could advance toward $4,100 if a brief, liquidation-driven pullback clears excess leverage. At the same time, other market readings suggest spot conviction is fragile and a retest of nearby support may precede any sustained rally.

On-chain data shows that Bitcoin whale addresses holding 1,000–10,000 BTC have increased their balances by 46,000 BTC this week, pushing the one-year net change back into positive territory for the first time since November 2025. In contrast, dolphin addresses with 100–1,000 BTC, including ETFs and treasuries, have cut holdings to 589,000 BTC from a peak of 972,000 BTC, signaling a prolonged cooling in demand.

At the start of 2026, XRP is trading above $2 after reclaiming its 50-day simple moving average, with institutional investors adding around $45 million over the past week. While broader crypto products saw about $454 million in outflows, analysts say XRP’s balanced volumes and key resistance near $2.40 will shape whether the price can extend toward the $3 area.

Bitcoin climbed to $97,500 in early 2026 after posting a daily close above $95,000, forming a new higher high. On-chain and derivatives metrics, including a more than $500 million Binance net taker volume spike and rising open interest, indicate sustained bullish momentum with technical scope toward $103,500. Key areas now watched by traders extend between $90,000 and $107,500 as BTC attempts to consolidate above prior resistance.

ETH’s estimated leverage ratio eased from 0.79 on Jan. 2 to 0.67 by Jan. 11 while open interest climbed, and spot-led buying strengthened. Aggregated futures OI has rebounded toward pre-Q4 2025 drawdown levels, yet ETH trades about 27% below its Oct. 10, 2025 opening price. Staking inflows and macro signals add potential tailwinds for a push toward $4,000.

Dormant Bitcoin moved on-chain, with OG whale spent value hitting about $286 million on Jan. 10, the largest revival since Nov. 3, 2025. Long-term holder distribution has cooled and accumulator wallets added nearly 136,000 BTC in 11 days, supporting momentum even as near-term volatility could test the $86,000–$87,000 zone before a $100,000 push.

On-chain data analysis shows Bitcoin long-term holders sold nearly $300 billion of BTC in 2025, including a notable 30-day spike between November 15 and December 14. Since December, LTH supply has stabilized near 13.6 million BTC and the LTH/STH ratio fell to roughly -0.53, conditions that have historically preceded base-building and later rallies.

In the first days of January 2026, Bitcoin accumulator addresses absorbed roughly 60,000 BTC while miners transferred about 33,000 BTC to Binance. This tug-of-war between renewed accumulation and rising miner outflows is unfolding as BTC trades back toward the low-$90,000 range, with on-chain flows and sentiment data pointing to a cautious but stabilizing market.