On-chain analytics firm Glassnode has reported that past sustained Bitcoin uptrends have generally appeared only when a liquidity gauge called the 90‑day Realized Profit/Loss Ratio stayed above a key level. The metric, which compares realized gains to realized losses, peaked near 20 in the second half of 2025 but has since dropped to below 2, while Bitcoin is trading around $87,800 after a recent pullback. Glassnode's data suggests a renewed rally may require this ratio to climb back above 5 and hold there, although the indicator is still trending downward.

An analyst in a CryptoQuant Quicktake notes Bitcoin's Supply in Loss has turned upward, with its 365‑day SMA rising after an October cycle low. The metric tracks the share of circulating BTC held at an unrealized loss, a shift that has previously aligned with early bearish phases. Bitcoin is around $89,000, up over 1% in 24 hours.

According to Glassnode analyst Chris Beamish, Ethereum is currently trading around a dense cost basis cluster near $2,750 that has repeatedly acted as support since the November bottom. The on-chain Cost Basis Distribution shows this zone has triggered multiple rebounds, while Ethereum now changes hands near $2,950, about 1.5% lower over the past week. Beamish argues that holding above this area could signal accumulation and base formation, whereas a breakdown might push the price into regions with thinner support and more at-risk supply.

On January 15, Bitcoin's Fear & Greed Index stood at 61; six days later it plunged to 24, signaling extreme fear, according to Alternative. The indicator, built from market cap dominance, trading volume, volatility, Google Trends, and social media inputs, previously sprinted from 26 to 61 in two days as BTC moved above $97,000. Bitcoin dipped below $88,000 before rebounding to $90,200.

Glassnode said in a post on X that during the November–December bottoming phase, larger entities were the main drivers of Bitcoin supply accumulation while smaller cohorts distributed. Its Accumulation Trend Score showed 10,000+ BTC wallets near 1.0 after the November drop, with 1,000–10,000 BTC holders turning net buyers in December. Bitcoin traded around $88,900 as the week progressed.

Bitcoin fell from $95,500 to a low of $93,000 in the past 24 hours, with altcoins also declining. The sharp move triggered heavy derivatives liquidations, with long positions bearing the brunt, while Ethereum slipped to $3,200. Bitcoin has since edged back to about $93,100.

On-chain data attributed to CryptoQuant analyst Maartunn indicates that Bitcoin short-term holders have recently shifted 41,800 BTC in profitable deposits to exchanges while loss-making deposits fell to 1,800 BTC. During this period, Bitcoin’s spot price dropped from above $97,000 to around $94,600 and remained below the short-term holder Realized Price level of $99,412.

Recent posts on X have fueled claims that XRP is in a "super cycle," with figures like YoungHoon Kim reiterating this view, while analyst Ali Martinez's weekly chart instead highlights a SuperTrend sell signal. The technical indicator flipped from bullish to bearish near the end of 2025 and has kept XRP under its trendline, even as the token's price slipped 2% to $2.07 over the past week and Solana registered a fresh bullish SuperTrend shift.

On-chain firm Santiment says Bitcoin entered its "Very Bullish" zone after sharks and whales (10–10,000 BTC wallets) added 32,693 BTC since January 10th, while retail (<0.01 BTC) sold 149 BTC. The divergence suggests large holders are backing the rally, as BTC briefly crossed $97,000 before easing to $96,900.