Bitcoin retests support after futures-driven surge toward $95,000

Bitcoin traders showed renewed risk appetite after a futures-led advance toward $95,000 this week, but bulls pulled back to retest a key underlying support level near the 20-day moving average at about $89,400. The start of 2026 saw Bitcoin and select altcoins rally toward weekly range highs, with tightening consolidation marked by daily higher lows and higher highs and a weekly high at $94,800.

A 7-day liquidation heatmap from Hyblock showed long liquidation clusters between $89,000 and $87,000 and short positions concentrated near the weekly range high close to $95,000. Technically, the rally moved price above the 20-day moving average, which is converging with the 50-day moving average, but BTC failed to hold $95,000 and some traders took profits expecting a retest of the 20-MA at $89,400.

Perpetual futures drove much of the intra-day action: TRDR.io data showed a near $1.1 billion surge in futures buy volume as BTC rose to $94,800 on Jan. 5 and about $100 million of shorts were liquidated in the BTC/USDT pair at Binance. If the trend continues and volume permits, another attempt on $95,000 could trigger short covering and liquidations, potentially exploiting a gap in the volume profile and setting up a possible 13% rally to $101,500, the article said.

Liquidation heatmap data and orderbook structure suggest a similar event could occur again if traders push BTC to $94,000.

Key Topics

Crypto, Bitcoin, Perpetual Futures, Liquidation Heatmap, Hyblock, Trdr.io