Bitcoin kicked off 2026 with a surge that has the attention of crypto investors. After ending the year down roughly 6%, Bitcoin is showing signs of rebounding, but whether this bounce has legs is the question on everyone’s mind.
The world’s largest cryptocurrency is testing critical resistance levels around $94,700, and how it behaves here could set the tone for the months ahead. Here’s what’s driving the current rally and what experts think about where it’s headed.
The recent jump in Bitcoin price isn’t necessarily signaling a major trend reversal. After being heavily sold off in 2025, many investors are rebalancing their portfolios and likely going back into risk assets they believe were pushed down too far.
“The bounce in Bitcoin we’re seeing this week is most likely a reflexive move by investors rebalancing into an asset that was heavily oversold last year, rather than something indicative of a major shift in trend,” said Nic Puckrin, digital asset analyst and co-founder of the Coin Bureau.
When an asset drops significantly, it often attracts bargain hunters looking to capitalize on good entries. That’s the dynamic playing out right now. Crypto investors who sat on the sidelines are stepping back in, causing the Bitcoin price to go up.
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Bitcoin has already rejected the $94,700-ish resistance many investors are watching. If Bitcoin can’t break through, we could see another leg down. If it does, the $100,000 mark is likely possible.
Puckrin expects another all-time high in 2026, though he’s tempering expectations about how dramatic that move might be.
“In the longer term, I expect to see another all-time high this year, but it won’t be as dramatic as some are predicting, and the possibility of a reversal into bear territory remains very real,” he said.
Not everyone’s convinced this is Bitcoin’s year. Some analysts argue the risk-reward just isn’t there at current levels. Vince Stanzione, CEO and founder at First Information, remains bearish. He measures Bitcoin against gold rather than the dollar, and by that metric, Bitcoin has serious ground to make up.
“I was negative on Bitcoin throughout 2025, and I’m sticking with that view in 2026,” Stanzione said. “While most price Bitcoin in USD, I prefer to use gold as the denominator. In other words, how many ounces of gold does it take to buy one Bitcoin? In 2025, gold was up 66%, while Bitcoin ended the year down about 6%. The ratio ended at 20.”