In early 2026, the cryptocurrency market showed clear differentiation. Overall, the short-term rebound was quickly met with selling pressure, and traders’ strategies are shifting from chasing gains to taking profits on rallies. Bitcoin temporarily rebounded to around $92,500 but retreated after hitting a key resistance level, currently hovering near the 50-day moving average, with market sentiment leaning cautious. Analyst Alex Kuptsikevich pointed out that if the $90,000 level is broken, the psychological impact could intensify, and the market may test lower ranges.
Overall, Ethereum failed to generate sustained upward momentum, with prices falling back to around $3,100; XRP has been weakening for several days, approaching important moving averages, indicating that the upward momentum from the beginning of the year is waning. Derivatives data shows Bitcoin futures open interest has fallen to multi-year lows, typically indicating deleveraging and phase consolidation. Meanwhile, ETF fund outflows have stabilized, also suggesting that the most intense selling may have passed.
Against the backdrop of mainstream assets coming under pressure, Monero has become a bright spot. Over the past eight days, XMR has risen approximately 44%, breaking through $600 and approaching $640, with privacy-focused assets gaining significant attention. Data firm Santiment believes that privacy assets have recently played a “safe haven” role in rotation, but also warns of a potential pullback after social hype peaks.
On the macro level, global stock markets remain strong, and US Treasury yields have risen slightly, maintaining the mid-term logic of non-sovereign scarce assets. Overall, market sentiment is more inclined towards patience and selective positioning rather than full bullishness or panic selling.
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