Bitcoin has moved on to renewed buying from large holders while smaller wallets are seeing booking gains, a pattern that on-chain observers see as supporting a continued rise.
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Collecting Whales and Taking Profits of Sale
According to Santiment, wallets holding between 10 and 10,000 BTC – defined as whales and sharks – have added 56,227 BTC since mid-December. At the same time, wallets with less than 0.01 BTC were taking profits, suggesting that some traders are expecting a bull trap or a rally of fools.
This division – the heavy accumulation of large holders while the sale of small accounts – raises the possibility of growth of the entire crypto market.
Asset Redistribution and Market Structure
Market observers say supply is changing in a way that helps price action. Analyst James Check pointed out that the top-line share fell from 67% to 47%, a huge move in a short period of time.
📊 Crypto markets often follow the path of the big whales and sharks, and move to the other side of the small trading wallets. In our chart below:
Whale Dumping, Sales Collection (VERY BEARISH)
Whale Dumping, Unexpected Selling (BEARISH)
Whales and Trading… pic.twitter.com/yoC0H1keBT– Santiment (@santimentfeed) January 5, 2026
That change, coupled with a drop in profit-taking and signs of a short-term squeeze in the future, supported higher prices even as overall capacity remained low.
Bitcoin has hovered between $87,000 and $94,000 for nearly six weeks, but briefly touched a seven-week high of $94,800 on Coinbase during late trading on Monday.
Key Options and Levels
Traders watching the profit option see heavy call activity around the $100,000 strike for January expiration. The data shows Bitcoin as being in a bullish consolidation phase, and immediate resistance is seen at $95,000 to $100,000 with support placed around $88,000 to $90,000.
A clean break above the upper zone may push prices higher, while a break below the lower zone may invite deeper selling pressure.
Geopolitical Shock And Trading Volume
After the capture of Venezuelan President Nicolás Maduro by US forces, Bitcoin moved to multi-week highs and traded above key levels near $93,000 on Monday, based on reports.
Analysts attributed the move in part to political uncertainty pushing some investors into other assets. Speculation about Venezuela’s alleged large BTC – reportedly worth hundreds of thousands of coins – also added to market chatter and trading activity.
Overall, the event coincided with high volatility and volume, reflecting a broader market reaction to global tensions rather than a direct driver of Bitcoin’s underlying value.
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What This Means for Traders
The current mix of large fund buying and short-term profit taking is giving the market a skewed bias. If the accumulation of whales continues, the chance of rising increases. However, retail sales warn that a short-term reversal is still possible.
The $95,000 to $100,000 range appears to be the main area where a breakout may occur, while support around $88,000 to $90,000 could influence sentiment if prices break below it.
Reports and on-chain data suggest the momentum to lean towards additional profits, although the market may remain volatile as traders respond to both technical levels and national developments.
Featured image from Unsplash, chart from TradingView
