Bitcoin's latest drop unfolded with unusually tight dispersion across major spot venues and stable session extremes. More than $500 million in long positions were liquidated in roughly sixty minutes across derivatives markets. The move looked dramatic, yet order books and arbitrage activity appeared orderly.

The Bitcoin network's seven-day average hashrate fell below 1,000 EH/s on Saturday and now sits at 993 EH/s. It is nearly 15% lower than the 1,157 EH/s peak on Oct. 19, as an analyst says some miners are shifting power to AI, even with four difficulty cuts since Nov. 12, 2025 and higher hashprice.

Bitcoin slid under $93,500 after losing $95,000 and $94,000, and briefly dipped below $92,000 while remaining beneath the 100‑hour SMA. If $92,000 holds, upside hurdles sit near $93,000, $93,500 and $94,000, with scope toward $95,000; failure to stabilize risks tests of $91,800, $91,300 and the $90,000 area.

Bitcoin whales are depositing less to Binance in early 2026, just 15,800 BTC versus December's 37,133 BTC, leaving flows at 42.5% of last month. Daily whale transfers are under 2,200 BTC, while Bitcoin trades near $95,020 alongside strong U.S. spot ETF inflows above $750 million.

On January 18, 2026, Lookonchain reported that a long-standing Bitcoin holder sold 500 BTC worth $47.77 million, part of a 5,000 BTC stash held for over a decade. The seller has been trimming since December 2024 at six-figure prices, and on-chain metrics show older holders have cooled while institutions absorb supply.

Vanguard Group, overseeing about $12 trillion in assets, disclosed via routine filings a new position of roughly $505 million in shares of Strategy. The move offers indirect Bitcoin exposure through a public equity and marks Vanguard's first known allocation to a Bitcoin treasury company as of January 18, 2026.

On January 18, Bitcoin was trading near $95,056 after slipping 0.48% in 24 hours but remaining up 4.51% over the week. If the price loses support around $94,249 and the daily bar closes near local support, technicians expect possible moves into the $94,500 and $92,000–$94,000 zones. Market focus is on how the weekly candle behaves around the $95,938 level, which could determine whether sellers gain more control.

A derivatives analytics report from Bybit and Block Scholes links a shift in market sentiment to bitcoin's move into the upper $90,000 band, with open interest across nine major coins surpassing $8 billion. Bybit's Risk-Appetite Index edged higher as traders opened more perpetual positions, while altcoin spot ETFs in ether, Solana, and XRP registered several consecutive days of inflows.