Bitcoin Price Breakout: 2026 Highs Hit as Geopolitics Fuels Assets
Bitcoin is making a powerful statement to start the year. A significant Bitcoin price breakout is underway, with BTC surging to new 2026 highs above $94,100 during Monday’s Wall Street open. This rally places Bitcoin alongside surging stocks and gold, as geopolitical events in Venezuela appear to be rewarding asset holders rather than triggering a risk-off selloff.
The move allowed Bitcoin to convincingly reclaim its 50-day Exponential Moving Average (EMA) and the critical 2025 yearly open level near $93,500. Prominent analysts are now mapping the path forward. Michaël van de Poppe identified this zone as the “final hurdle before $100K,” while trader Max Rager noted that a sustained break and hold above $94k could trigger a push back toward the psychological six-figure milestone.
Analysts Weigh the Sustainability of the Bitcoin Price Breakout
However, this Bitcoin price breakout is unfolding against a backdrop of concerningly thin market liquidity. On-chain analytics firm Glassnode reported the lowest crypto spot trading volumes since late 2023, warning that “increasingly thin liquidity conditions” are behind the recent price strength. This divergence between rising prices and falling volume is a classic caution flag, suggesting the rally lacks broad participation.
Despite this, several analysts remain tactically bullish for January. On-chain expert Willy Woo suggested a “short term pump” is likely as liquidity puts in a local bottom. The consensus among bulls is that while liquidity is thin, the technical breakout is real and could gather momentum if spot buyers step in to fuel the next leg.
My Thoughts
This breakout is technically significant but fragile. Reclaiming the yearly open is a strong bullish signal, yet the abysmal volume cannot be ignored. It suggests this move is driven by a lack of sellers more than an influx of new buyers. For the breakout to hold and target $100k, we need to see spot ETF inflows re-accelerate and on-chain activity pick up. The next few days are critical; a close back below $93,500 would invalidate the breakout and likely lead to renewed consolidation.
