As 2026 begins, the Bitcoin market has experienced significant chip cleansing and structural resetting. After the profit-taking selling pressure eased, the price has rebounded from the low end of $80,000 to around $94,000, indicating that market sentiment is gradually recovering. However, a Glassnode report points out that there is dense capitulation at higher levels, which will be the biggest resistance for future trends. The current market focus is on whether Bitcoin can effectively break through the short-term holder cost basis (STH Cost Basis), which is seen as a key threshold for confirming a trend reversal. Meanwhile, changes in institutional funds and derivatives market structures also provide important clues for support levels.
Profit-taking pressure eases
In the first week of 2026, Bitcoin broke through the long-term consolidation zone around $87,000, rising about 8.5% to reach $94,000. This increase was driven by market gains