Bitcoin rose above $95,000 on Tuesday, catching the attention of traders and analysts who say actual buying of the coin, rather than betting on derivatives, is the driving force behind the move.
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According to figures from Coingecko, it concerned cryptocurrency trading at $95,250 at the time of publication, after a gain of 4.50% over 24 hours. Reports have revealed that $269 million worth of Bitcoin shorts were wiped out during that period, a wave of liquidations that contributed to the upward momentum.
Spot buying stimulates movement
Several market watchers pointed out that spot buying was the most important factor. Crypto analyst Will Clemente posted on X that the rally “appears to be”led by spot purchases.”
That matters because buying the actual asset indicates direct demand for Bitcoin itself, not just gambling via futures or options. Short sellers were hit hard; their positions were closed as prices rose, and that pressure added fuel to the rally.
It appears this rally on Bitcoin is being led by spot buying and is being faded by perpetrators as funding turns negative while open interest rises + most spot volume in days.
(disclosure currently long btc) pic.twitter.com/pL9C8GFJYR
— Will (@WClementeIII) January 13, 2026
Calls for $100,000 and the odds
Some traders are now predicting a rapid rise to six figures, saying it is quite clear that Bitcoin could reach $100,000 in the coming weeks and that any dips should be bought.
Based on reports from PolymarktThe prediction markets estimate about a 51% chance that Bitcoin will regain $100,000 by February 1 and show a 23% chance of a $105,000 print. Bitcoin last fell below $100,000 on November 13, leaving a resistance level that bulls are looking to clear.
History gives a mixed signal
Bitcoin’s January all-time high was modest on average, returning about 4% since 2013. February was stronger overall, with an average return of 13%.
These averages do not guarantee a future path, but they do give traders context for how the market has behaved in recent years. Market movements can be rapid. They can also get stuck.
Macro risks and technical levels
Traders were eyeing $90,000 as a key support level as Bitcoin surged past $95,000 ahead of US inflation data that could shift bets. interest rate cuts.
The question of safe havens comes into play as geopolitics and questions about the independence of central banks weigh on global markets. Price action is tight at the moment, with many saying the market is within a narrow band and likely to break out one way or another.
😮 Bitcoin, Ethereum and other cryptocurrencies are recovering. It just passed another $94,000 $BTCand retail FOMO will likely creep in as crypto’s top assets tease $100,000 in the coming days.
📊 The graph below shows high peaks of:
🟦 #Lower or… pic.twitter.com/5pcwtB0mls
— Santiment (@santimentfeed) January 13, 2026
Retail FOMO can add fuel
Meanwhile, crypto sentiment tracker Santiment warned that renewed teasing of $100,000 could draw retailers back in, leading to new FOMO in the market.
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If that happens, more buying from ordinary investors could quickly push prices higher. But flows can also reverse quickly, and big macro surprises or a loss of momentum would test the bulls.
Featured image from Unsplash, chart from TradingView