According to Cointelegraph/TradingView, the BTC-to-gold ratio slid to around 18.5 ounces per Bitcoin on Wednesday, its lowest level since November 2023, as gold set a new high near $4,888 and BTC hovered above $90,000. Analysts including Charles Edwards, Decode and Bitwise's André Dragosch view the discount as unusual and say it may precede a rotation back into BTC.

On Tuesday, Bitcoin slipped below $90,000, and multiple analysts warned of sustained sell-side pressure driven by inflows from large holders. CryptoQuant data indicates newer whales (UTXO age under 155 days) now control more realized capital, with a cohort realized price near $98,000 and about $6 billion in unrealized losses, keeping $85,000 in focus.

After tagging a local high near $98,000 on Wednesday, Bitcoin pulled back for two sessions and traded below $95,000 by Friday’s New York hours. According to CoinGlass, the Coinbase premium rolled over near the highs as spot demand faded. CryptoQuant data show short-term holders realized over 40,000 BTC in profits on Jan. 15 and more than 30,000 BTC on Jan. 6.

Ether trades near $3,300 and could advance toward $4,100 if a brief, liquidation-driven pullback clears excess leverage. At the same time, other market readings suggest spot conviction is fragile and a retest of nearby support may precede any sustained rally.

On-chain data shows that Bitcoin whale addresses holding 1,000–10,000 BTC have increased their balances by 46,000 BTC this week, pushing the one-year net change back into positive territory for the first time since November 2025. In contrast, dolphin addresses with 100–1,000 BTC, including ETFs and treasuries, have cut holdings to 589,000 BTC from a peak of 972,000 BTC, signaling a prolonged cooling in demand.

At the start of 2026, XRP is trading above $2 after reclaiming its 50-day simple moving average, with institutional investors adding around $45 million over the past week. While broader crypto products saw about $454 million in outflows, analysts say XRP’s balanced volumes and key resistance near $2.40 will shape whether the price can extend toward the $3 area.

Bitcoin climbed to $97,500 in early 2026 after posting a daily close above $95,000, forming a new higher high. On-chain and derivatives metrics, including a more than $500 million Binance net taker volume spike and rising open interest, indicate sustained bullish momentum with technical scope toward $103,500. Key areas now watched by traders extend between $90,000 and $107,500 as BTC attempts to consolidate above prior resistance.

ETH’s estimated leverage ratio eased from 0.79 on Jan. 2 to 0.67 by Jan. 11 while open interest climbed, and spot-led buying strengthened. Aggregated futures OI has rebounded toward pre-Q4 2025 drawdown levels, yet ETH trades about 27% below its Oct. 10, 2025 opening price. Staking inflows and macro signals add potential tailwinds for a push toward $4,000.

Dormant Bitcoin moved on-chain, with OG whale spent value hitting about $286 million on Jan. 10, the largest revival since Nov. 3, 2025. Long-term holder distribution has cooled and accumulator wallets added nearly 136,000 BTC in 11 days, supporting momentum even as near-term volatility could test the $86,000–$87,000 zone before a $100,000 push.