At the start of 2026, the crypto market continues its momentum amid bulls and bears clashing. Bitcoin surged strongly past $93,300, hitting a new phase high, with $94,000 resistance and $88,000 support becoming two key levels traders are watching. Perpetual futures funding rates soared to phase highs, market sentiment shifted from prior "fear" to "neutral," but undercurrents swirl beneath this calm surface.

Whale movements tell the real story. On one hand, roughly $2.4 billion in BTC and ETH flowed into a leading exchange last week, with average deposit sizes surging notably—clear preparation for selling pressure. On the other hand, three new wallets withdrew 752 BTC from exchanges, worth $70.3 million, seemingly positioning for long-term holding. Meanwhile, 33,800 SOL ($4.66 million) quietly transferred out—this ebb and flow scenario reflects genuine market disagreement.

Stablecoin inflows reached only $42 million, far below expectations, with new purchasing power clearly insufficient. While capital debates, major sectors are rotating rapidly. Meme coins' momentum is fading as AI concepts, RENDER, SUI, and XRP take the baton, posting respective 24-hour gains of 20%, 15%, and 10%. Analysts point out institutional crypto players are fueling this rally, but sustainability depends on Bitcoin spot ETF fund flows.

The current market structure is clear: prices rising, expectations stabilizing, yet capital divisions remain significant. Sellers and buyers face off while Bitcoin outperforms solo and sector rotation quickens simultaneously. The final outcome depends on whether new capital—especially stablecoins—can enter at scale to take the other side.