Bitcoin Climbs to Four-Week High as Altcoins Lag in Early 2026 Market Shift

Bitcoin (BTC) reached $93,300 on January 5, 2026, the highest level in four weeks, driven by coordinated whale and exchange purchases exceeding $3.5 billion over a 10-hour period. Ethereum (ETH) also showed strength, trading above $3,000 according to analysis.

The price rally came after a period of consolidation following a difficult close to 2025. On-chain data pointed to one of the largest whale accumulation phases in over a decade, while momentum indicators rebounded from oversold levels.

Despite Bitcoin’s strong showing, altcoins remain under pressure. Most digital assets are still below their all-time highs, and market capitalization remains concentrated in a few top performers.

Why Did This Happen?

Bitcoin’s rebound was fueled by a combination of whale accumulation and institutional interest. Large purchases from entities like Binance, Coinbase, and Bybit pushed the price higher, triggering a broader market rally. These moves were coordinated and strategic, indicating major players were actively buying.

The start of 2026 also saw inflows into U.S. spot Bitcoin ETFs, including $324 million into BlackRock’s IBIT, while Ethereum ETFs posted outflows according to reports. This suggests that investors are more bullish on Bitcoin than on Ethereum at this stage.

How Did Markets Respond?

Bitcoin’s rally spilled into altcoins and meme tokens. Tokens like PEPE and BONK saw gains, indicating rising speculative activity. However, broader altcoin markets remained cautious. The altcoin market cap, at over $879 billion, remains below the previous peak of nearly $1.2 trillion.

Bitcoin’s price is also showing signs of resistance at $94,000, a level analysts say could determine whether the rally continues or consolidates. Derivatives activity suggests traders are positioning for a potential move above $100,000.

What Are Analysts Watching Next?

Analysts are monitoring whether the weekend’s gains can hold through the first full trading week of 2026. Historical patterns show that weekend surges are often erased by Monday trading. However, the current on-chain data suggests a more sustained accumulation phase, with whales holding large amounts of BTC.

Technical indicators also remain mixed. While Bitcoin is showing signs of strength, Ethereum's chart looks more promising, with traders eyeing the $3,250 level as a potential next target.

Market participants are also watching for further institutional flows and U.S. macroeconomic data, including the January 5 jobs report, which could influence positioning ahead of the week’s end according to analysis.

The CME Bitcoin futures market also showed a $655 gap at the start of 2026, which could become a focal point for short-term volatility. Analysts will be watching to see whether the gap fills quickly or if Bitcoin establishes a new trend above it.

Overall, the start of 2026 is shaping up to be a critical period for crypto markets. Whether Bitcoin can sustain its recent gains and attract broader capital or if altcoins take the lead will determine the narrative for the rest of the year.