Bitcoin (BTC) hit new 2026 highs at Monday’s Wall Street open amid concerns about tight market liquidity.
Key points:
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Bitcoin joins stocks and gold with gains early in the year as geopolitics rewards asset holders.
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BTC price analysis sees a “clear breakout” over the next week.
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Concerns about a lack of market commitment form the basis for bearish forecasts.
Bitcoin seeks new monthly highs in Venezuela
TradingView data confirmed a new year-to-date BTC price peak of $94,026 on Bitstamp.
US stocks rose at the start of the week, continuing a positive reaction to the US operation in Venezuela.
Both the S&P 500 Composite Index and the Nasdaq were up 1% at the time of writing, while spot gold added more than 2.5%, reaching highs of $4,455 per ounce.
“Asset owners continue to win,” business resource The Kobeissi Letter wrote in a reaction on X.
Bitcoin itself has reached its highest levels since December 11, surpassing the 50-day EMA and $91,600 and 2025 with a yearly opening of $93,500.
“It’s good to see $BTC finally showing some strength,” commented trader Max Rager in his latest X analysis.
“The 2025 year open and an important level for Bitcoin price over the past year is retested. I would like to see it break and hold above $94,000 and then I could see a pullback back over $100,000.”
Commenter Exitpump said a further upside “would depend on spot buyers.”
$BTC The market took the opportunity to increase the price at the daily open when large requests were removed, so the order book based indicators turned green and some chasing bids were also added. Now the continuation will depend on cash buyers. pic.twitter.com/YzqbC7oDlE
— exitpump (@exitpumpBTC) January 5, 2026
“Last hurdle before $100,000 – that’s where Bitcoin is currently,” cryptocurrency trader, analyst and entrepreneur Michaël van de Poppe previously added.
“I wouldn’t expect a clear and immediate breakout; however, I do expect to see it next week. The year started bullish.”
Focus on falling cryptocurrency volume
Bitcoin also featured its fair share of nervous and bearish forecasts despite the near-term strength.
Related: Can BTC avoid the bullish trap at $93K? 5 things you should know about Bitcoin this week
$BTC 1D
I hate to be the bearer of bad news, but I wouldn’t get too excited about this recent bombshell.
We are coming out of a two-week holiday period and volume is substantially low.
We’ve seen time and time again the low-volume holiday pumps completely back off. pic.twitter.com/3WZLdyA3gT
– Roman (@Roman_Trading) January 5, 2026
Poor order book liquidity and low trading volume were a cause for concern for Bitcoin OG Willy Woo.
“I think we will have some short-term momentum for January (starting to see liquidity hitting a local pool),” he told X followers along with a graph of mempool size and transaction fees.
I think we will have some short-term momentum for January (starting to see liquidity bottoming out locally).
But this chart (transactions and rates) looks bearish in the long term (macro cycle), it is a ghost town. pic.twitter.com/WnOwNI7Ru5
— Willy Woo (@woonomic) January 5, 2026
Meanwhile, onchain analytics platform Glassnode reported the lowest cryptocurrency spot trading volumes since the end of 2023.
“This weakening in demand contrasts sharply with bullish movements across the market, highlighting the increasingly weak liquidity conditions behind recent price strength,” he warned that day.
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This article does not contain investment advice or recommendations. Every investment and trading move involves risks, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness or reliability of the information contained in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
