Ether briefly reclaimed the $3,000 mark but weakening demand and negative spot ETF flows suggest sellers may still be in control. Analysts highlight the $2,800–$3,000 zone, where around 9 million ETH were accumulated, as critical support, warning that a confirmed bear flag breakdown could send price toward $1,850. If this area holds, clustered buy orders and institutional interest could still offer a base for a rebound.

On Jan. 21, Glassnode reported that Bitcoin’s onchain structure remains fragile, with BTC trading between the True Market Mean at $81,100 and the short-term holder cost basis at $98,400. The firm cautioned that a dense supply overhang above $100,000 and a Risk Index reading near the High Risk zone could prolong consolidation, while recent spot Bitcoin ETF outflows of $708.7 million suggest continued institutional de-risking.

Bitcoin holds near the $90,000 support as miner-based Hash Ribbons and the Fear and Greed Index issue buy signals, pointing to improving sentiment. Analysts note a recent crossover in sentiment gauges and a recovery from miner capitulation, while traders watch the $90,000–$92,000 range for confirmation of trend direction.

XRP dropped below $2 after six straight declines, while Bitcoin hit $92,000 and Ether tested $3,000. Despite $1.28 billion in cumulative spot ETF inflows and a six-month high in XRP Ledger transactions, price weakness persisted. The pair now tests support around $1.96, with key levels at $1.80, $1.75, and $1.61.

ETH fell 7% after a $3,400 rejection last week but stayed above $3,000. ValidatorQueue shows a 44-day entry queue with more than 2.6 million ETH, while Capriole Investments and SoSoValue indicate renewed accumulation by treasuries and spot ETFs. Glassnode data highlights a $3,100–$3,170 cost-basis shelf that bulls aim to defend.

Bitcoin traded about 9.5% above its Jan. 1 open at $87,500 as it hovered around $95,000, with traders focused on the $98,000 short-term holder cost basis as a key inflection level. Analysts highlighted support at the 21-day moving average near $91,200 and an ascending triangle setup targeting roughly $113,200 if resistance between $96,000 and $99,500 is cleared. Technical signals such as a multi-year trendline bounce, RSI recovery and a MACD cross were seen as underpinning expectations for further upside, provided bulls can maintain the current market structure.

On Friday, the memecoin sector’s market capitalization climbed 8% to $39.45 billion, adding $3 billion in a single day as PEPE gained 23.6%, BONK rose 10% and DOGE advanced 8%. At the same time, open interest and derivatives volume for leading memecoins expanded sharply, with PEPE’s OI up 77% to $441 million and total daily derivatives trading volume across memecoins reaching $4.75 billion.

XRP logged key milestones in 2025, including a May 8 SEC settlement and the November launch of U.S. spot ETFs, yet it only topped at $3.66 before sliding 50% to a $1.58 October low. With weak on-chain activity and technical levels breached, focus shifts to whether 2026 can finally deliver the long-sought $5 mark.

Bitcoin entered the final week of the year trading 30% below its $126,000 all-time high from Oct. 6, while several traders and banks highlight bullish signals into 2026. Analysts point to a recurring “Christmas bear trap,” cooling spot ETF outflows, and a daily symmetrical triangle that could target about $107,000, with one bank setting a 12-month base case at $143,000 and a bull scenario at $189,000.