Bitcoin [BTC] has surged past $91,000, marking a new yearly high and signaling a shift in market sentiment. Whale addresses holding over 1,000 BTC have gone from net selling to heavy accumulation.
When Bitcoin broke the $90,000 barrier and headed towards $94,000-$95,000, the odds of Bitcoin reaching $95,000 in January on Polymarket increased to 70%.
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Analysts wondered if this was the start of a new bull market or just a temporary surge.
A sign of bullish sentiment
Bitcoin whales have been actively accumulating more BTC, indicating a shift toward long-term profits. The change from selling to heavy accumulation reflected patterns seen in previous bull markets.
Source: Checkonchain
This growing trend of accumulation increases the likelihood of further price increases, with the likelihood of Bitcoin reaching $95,000 in January steadily increasing.
Bitcoin’s potential to rise 400%
Bitcoin’s recent rise was compared by many gold’s past rallies. Over the past five to six years, gold has seen a sharp rise of 400% after reaching its peak, and Bitcoin could follow suit.
As Bitcoin neared $94,000, analysts drew parallels between the two assets.
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The current increase, driven by whale activity and positive market sentiment, indicated significant growth in the future.
Dead cat bounce or new bull market?
Bitcoin had crossed the $90,000 mark and was targeting $94,000-$95,000, indicating that the price move was part of a broader uptrend.
After breaking the mid-December 2025 range, Bitcoin managed to break the $91,000 resistance level. This breakout suggested a possible continuation towards the $94,000-$95,000 range, signaling a shift in market momentum.
Source: TradingView
The RSI approached overbought levels, indicating that Bitcoin still has room for further upward momentum. The MACD also showed a positive crossover, reinforcing the bullish outlook.
Final thoughts
- Bitcoin’s whale accumulation and breakout above key resistance levels indicated continued bullish momentum.
- With the likelihood of a $95,000 surge increasing and technical indicators supporting the rise, Bitcoin’s rally would likely continue.