As Bitcoin inches closer to the highly anticipated $100,000 milestone, the crypto market is buzzing with renewed optimism.
Following the BTC rally, MicroStrategy founder and longtime Bitcoin advocate Michael Saylor has taken a swipe at bears, who anticipate a downward price action.
Saylor’s post on X mocks Bitcoin bears with a chess meme, depicting a bear futilely competing against a suited strategist, amid BTC’s 5.59% weekly gain and consolidation above $80K. He captioned it, “Bears can’t play chess.”
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The image and caption underscore Saylor’s view that short-term pessimism lacks the foresight to counter Bitcoin’s institutional-driven rally toward $100K targets. The Strategy CEO posted at a moment when BTC was pushing aggressively toward $97,000 (with intraday highs briefly touching $97,924 according to multiple market trackers).
As of mid-January 2026, Bitcoin has reclaimed levels not seen consistently since late 2025. Trading data shows BTC hovering in the $96,000–$97,000 range, up roughly 1–2% in the preceding 24 hours and riding solid volume support around $29 billion daily. The price of the crypto asset has, however, retraced, trading at $95,786 at the time of writing this report.
Analysts point to several tailwinds:
– Sustained institutional and whale accumulation (addresses holding 100–10,000 BTC added tens of thousands of coins in recent days).
– Moderating inflation signals from recent U.S. CPI data
– Growing optimism around crypto-friendly regulatory tailwinds
– Technical breakout above key psychological and Fibonacci resistance zones near $95,000–$96,000.
Crypto markets are getting exciting again, and market strategist Gareth Soloway says the charts are quietly telling an important story. According to Soloway, Bitcoin is holding strong near important levels, while several altcoins are flashing bullish signals that traders should not ignore.
Bitcoin is currently trading inside a tight price range, but Soloway says that is not a bad thing. In fact, this kind of sideways movement often builds energy for the next move. As long as Bitcoin stays above its main support line, the short-term outlook remains positive.
Notably, the market narrative has shifted decisively. Short-term bears who predicted a deeper pullback after the post-election euphoria appear increasingly outmaneuvered. Recent reports reveal Bitcoin’s largest holders reaccumulating coins after a period of heavy distribution. Data indicates that whale balances have turned higher following the sharpest selloff early 2023, while the mid-sized holders continue to reduce exposure:
Prediction markets and analyst targets are now clustering around $100K+ in the short term, with longer 2026 forecasts ranging from $120K–$170K under continued adoption and macro stability. Whether Bitcoin breaks through cleanly or consolidates first, the psychological message is clear: doubters are running out of good moves.
In Saylor’s view and increasingly in the market’s price action, the bear case isn’t just wrong; it’s conceptually illiterate when applied to a fixed supply, decentralized, digitally scarce asset.
Outlook
Looking ahead, Bitcoin’s short-term trajectory appears constructive, provided it continues to hold above the $92,000–$94,000 support band. A decisive break and sustained close above the $98,000–$100,000 psychological zone could trigger a fresh wave of momentum-driven inflows, potentially pushing price discovery into uncharted territory.
However, volatility remains inevitable. Profit-taking near the $100K mark, combined with macro uncertainty around interest rate policy and global liquidity conditions, could spark temporary pullbacks. Still, most analysts view any retracements as accumulation opportunities rather than trend reversals,