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    Monday, January 12
    Ethereum

    Bitcoin Faces Volume Vacuum as BTC Price Eyes $94,000

    KryptonewsBy No Comments4 Mins Read

    Bitcoin (BTC) hit new 2026 highs on Monday’s Wall Street open amid concerns over thin market liquidity.

    Key points:

    • Bitcoin joins stocks and gold with early-year gains as geopolitics rewards asset holders.

    • BTC price analysis sees a “clear-cut breakout” over the next week.

    • Concerns over a lack of market engagement form the basis for bearish prognoses.

    Bitcoin seeks new monthly highs on Venezuela

    Data from TradingView confirmed a new year-to-date BTC price peak of $94,026 on Bitstamp.

    BTC/USD one-hour chart. Source: Cointelegraph/TradingView

    US stocks gained at the start of the week, continuing a positive reaction to the US operation in Venezuela.

    Both the S&P 500 and Nasdaq Composite Indexes were up 1% at the time of writing, while spot gold added more than 2.5%, hitting highs of $4,455 per ounce.

    “Asset owners keep on winning,” trading resource The Kobeissi Letter wrote in a reaction on X.

    XAU/USD one-day chart. Source: Cointelegraph/TradingView

    Bitcoin itself has built on its highest levels since Dec. 11, passing the 50-day exponential moving average (EMA) and $91,600 and 2025 yearly open at $93,500.

    BTC/USD one-day chart with 50EMA. Source: Cointelegraph/TradingView

    “Good to see $BTC finally showing a bit of strength,” trader Max Rager commented in his latest X analysis.

    “Retesting the 2025 yearly open and a major level for Bitcoin price over the past year. Would like to see a break and hold above $94k and then could see a push back over $100k.”

    Commentator Exitpump said that further upside would “depend on spot buyers.”

    “Final hurdle before $100K: that’s where Bitcoin is currently at,” crypto trader, analyst and entrepreneur Michaël van de Poppe added earlier. 

    “I wouldn’t expect a clear-cut, immediate breakout; however, I do expect to see it happen in the coming week. The year started bullish.”

    BTC/USD 12-hour chart with RSI, volume data. Source: Michaël van de Poppe/X

    Spotlight on crypto volume crash

    Bitcoin also fielded its fair share of nerves and bearish prognoses despite short-term strength.

    Related: Can BTC avoid bull trap at $93K? 5 things to know in Bitcoin this week

    Thin order-book liquidity and low trading volume were a cause for concern for Bitcoin OG Willy Woo.

    “I think we get a short term pump for January (starting to see liquidity putting in a local bottom),” he told X followers alongside a chart of mempool size and transaction fees. 

    Onchain analytics platform Glassnode, meanwhile, reported the lowest crypto spot trading volumes since late 2023.

    “This weakening demand contrasts sharply with upside moves across the market, highlighting increasingly thin liquidity conditions behind recent price strength,” it warned on the day.

    Aggregate crypto spot trading volume. Source: Glassnode/X

    This article does not contain investment advice or recommendations. Every investment and trading move involves risk, 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 any information 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.