Key Market Insights
- •A prominent analyst has predicted that the Bitcoin price could reach $96,000.
- •Derivatives data indicates a 13% increase in Bitcoin futures open interest.
- •This surge in open interest suggests an improvement in risk appetite and returning confidence in the market.
A leading cryptocurrency analyst has issued a Bitcoin price prediction, stating that the digital asset recently tested a significant rising trendline and absorbed liquidity, with buyers quickly stepping in to support the price.
The price of BTC USD experienced a brief dip but subsequently recovered above its intraday low, maintaining the market's established pattern of higher lows.
As long as this trendline remains intact, the recent movement is likely to be interpreted as a normal pullback from a critical inflection point rather than a sign of fundamental weakness. Consequently, a rebound could propel the largest cryptocurrency back towards the resistance zone of $94,500 to $96,000.
However, the market sentiment could shift to bearish if the digital asset fails to hold its support levels.
Concurrently, activity in the derivatives market has shown renewed vigor following a period of significant deleveraging in the fourth quarter of 2025. Bitcoin futures open interest has experienced a notable increase since the beginning of January.
Futures open interest has risen by nearly 13% year-to-date, a development that experts attribute to a gradual return of risk appetite.
Expert Bitcoin Price Prediction of $96,000
The current Bitcoin price action is forming a pattern conducive to a bounce, and the chart provides traders with a clear support level to monitor.
According to crypto analyst Crypto Busy, the Bitcoin USD price was trading around $92,600 when a rapid decline occurred, drawing in nearby liquidity and testing a rising trendline that has been defended multiple times by buyers.
This area holds significant importance as a crucial inflection point for Bitcoin price movements, as it aligns with a previous demand zone where substantial buying interest was observed.
A notable aspect of this price action is the swift recovery. Despite sellers pushing the price lower, the move proved unsustainable, and BTC USD quickly reclaimed its intraday low.
When such strong rejections occur, it typically indicates that buyers are actively present and willing to absorb selling pressure.
At present, the market structure remains constructive. The price action on the local timeframe continues to show higher lows.
On the 1-day chart, Bitcoin USD price action appears more stable and controlled. It resembles a base-building phase rather than a complete reversal, but at least the market is no longer experiencing a sharp decline.
Technical indicators are showing improvement, although they are not yet signaling an imminent breakout. The Relative Strength Index (RSI) is around 52, which is considered neutral, indicating that momentum is neither weak nor strong. The Moving Average Convergence Divergence (MACD) is also beginning to trend upwards, suggesting a gradual return of buyers.
However, this bullish setup would be invalidated if the BTC USD price falls below $91,000. The Bitcoin price prediction would turn bearish if it loses the $90,000 support level.
In such a scenario, the market would likely open the possibility of a decline to $88,000 and potentially the mid-$80,000s.
Bitcoin (BTC) Futures Open Interest Rebounds 13%
According to CoinGlass, a derivatives data aggregator, Bitcoin futures open interest has increased by nearly 13% since the beginning of the year, signaling a growing participation in the derivatives market by traders.
Analysts interpret this increase as a sign of improving risk appetite and a return of confidence in the market. This rebound follows a significant correction experienced late last year.
From October through December, the market underwent substantial deleveraging, with traders reducing their exposure as Bitcoin experienced a broader market correction. With leverage now rebuilding, futures activity is showing signs of recovery.
Bitcoin futures open interest had sharply declined over the previous three months, falling by 17.5% from 381,000 BTC to 314,000 BTC.
This decrease coincided with a steep pullback in Bitcoin USD price, which fell approximately 36% from early October. CryptoQuant analyst Darkfost described this period as a clear risk-off phase, characterized by traders reducing exposure and unwinding leveraged positions.
However, this deleveraging trend appears to be subsiding. Darkfost noted that a rebound in open interest is now taking shape. CoinGlass data indicated that BTC USD futures open interest rose from an eight-month low of around $54 billion on January 1st to over $61 billion by January 19th.
The recovery also saw a stronger surge in the middle of the month, with open interest reaching approximately $66 billion on January 15th. This represented the highest level in roughly eight weeks before a slight pullback.
Despite these fluctuations, the broader trend appears positive. Darkfost suggested that the gradual increase in open interest indicates that traders are returning to the market and taking on more risk.