Bitcoin has resumed its upward trajectory in 2026, pushing above the $96,000 level for the first time in months as rising spot market activity signals renewed investor confidence.
The asset gained more than 4.5 per cent in the last 24 hours, strengthening bullish sentiment after a hesitant start to the year. The rally has reignited discussion across the market about a potential near-term break above the closely watched $100,000 level.
Spot Market Activity Powers the Move
This advance stands apart from earlier rallies that were largely driven by leveraged futures trading. Instead, direct spot purchases are leading the charge, indicating genuine capital inflows rather than speculative positioning.
As prices moved through key resistance zones, over $600 million worth of short positions were liquidated, forcing bearish traders out of the market and accelerating upward momentum. The dominance of spot buying suggests a healthier rally with reduced vulnerability to sharp reversals.
$100,000 Emerges as a Near-Term Target
The six-figure price level represents more than a numerical milestone. A sustained move above $100,000 could reinforce positive sentiment and attract additional participation from both retail and institutional investors.
Many traders view such a breakout as a potential signal that a broader bull phase is taking shape, provided inflows remain consistent.
Technical Structure Supports Further Upside
Bitcoin’s technical setup remains constructive. The price is holding above major moving averages and has convincingly cleared resistance in the $94,500 to $96,800 range, an area that previously stalled advances.
Maintaining support above these levels significantly improves the outlook for continued gains.
Market behaviour is also evolving. Instead of triggering selling, pullbacks are increasingly being used as entry points by buyers. According to crypto analyst Michaël van de Poppe, founder of MN Trading Capital, this shift reflects growing market confidence and helps stabilise price action during short-term corrections.
Institutional Demand Shows Signs of Recovery
Institutional participation is turning positive again. Spot Bitcoin ETFs in the United States have recorded renewed inflows, reversing the sustained outflows that weighed on prices toward the end of 2025.
These inflows point to measured, long-term capital entering the market through regulated vehicles, supporting a more durable rally.
Market Sentiment, Expectations, and Risks
Prediction markets are reflecting growing optimism. Traders on Polymarket are currently assigning roughly a 50 per cent chance that Bitcoin will reach or exceed $100,000 by early February.
Despite the positive setup, risks remain. Bitcoin is still below its late-2025 peak above $126,000, and shifts in liquidity, regulatory pressure, or geopolitical developments, such as tensions involving Iran, could quickly impact sentiment.
Outlook: A Test of Six Figures Looms
If spot demand continues to dominate and prices hold above key support zones, a move beyond $100,000 appears increasingly plausible within weeks rather than months.
The next few trading sessions will be critical. Market participants will be watching closely to see whether buyers continue to step in on dips. If that pattern holds, the path toward a six-figure Bitcoin price could soon come into view.
