Bitcoin pushed past $95,000 on Tuesday, drawing attention from traders and analysts who say real buying of the coin, rather than bets on derivatives, is driving the move.
According to figures from Coingecko, the cryptocurrency was trading at $95,250 at the time of publication, after a 4.50% gain over 24 hours. Reports have disclosed that $269 million in Bitcoin short positions were wiped out in that span, a wave of liquidations that helped add upward momentum.
Spot Buying Fuels The Move
Several market watchers pointed to spot purchases as the main force. Crypto analyst Will Clemente posted on X that the rally appears to be “led by spot buying.”
That matters because buying the actual asset signals direct demand for Bitcoin itself, not just betting via futures or options. Short sellers were hit hard; their positions were closed out as prices jumped, and that squeeze added fuel to the advance.
Seems like this rally on Bitcoin is led by spot buying and getting faded by perps as funding goes 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 $100k And The Odds
Some traders are now predicting a quick run to six figures, saying that it is quite clear Bitcoin could reach $100K in the coming weeks and that any dips should be bought.
Based on reports from Polymarket, the prediction markets place about 51% odds on Bitcoin reclaiming $100,000 by Feb. 1 and show a 23% chance of a $105,000 print. Bitcoin last fell below $100,000 on Nov. 13, leaving a resistance level that bulls want to clear.
History Gives A Mixed Signal
January’s record for Bitcoin has been modest on average, delivering roughly a 4% gain since 2013. February has tended to be stronger, with an average return of 13%.
These averages do not guarantee the path ahead, but they give traders a context for how the market has behaved in recent years. Market moves can be quick. They can also stall.
Macro Risks And Technical Levels
Traders were watching $90,000 as an important support level while Bitcoin cruised past $95k ahead of US inflation data that could shift bets about rate cuts.
Safe-haven demand has been in play as geopolitics and questions about central bank independence weigh on global markets. Price action is currently tight, with many saying the market sits inside a narrow band and will likely break out one way or the other.
Bitcoin, Ethereum, and other cryptocurrencies are rebounding. $94K has just been crossed again for $BTC, and there will likely be retail FOMO creeping in if crypto’s top asset begins teasing $100K in the next few days.
Retail FOMO Could Add Fuel
Meanwhile, crypto sentiment tracker Santiment warned that renewed teasing of $100K could pull retail traders back in, sparking fresh FOMO across the market.
If that happens, more buying from everyday investors could push prices higher quickly. But flows can reverse fast too, and large macro surprises or a loss of momentum would test the bulls.
