Bitcoin Holds Near $88,000 as Asian Markets Lead Gains in Early 2026 Trading
Bitcoin remained near $88,000 in the first trading session of 2026, with the BTC price at $88,574, up 1.2%. Ether increased by 1.2% to $3,009, and XRP gained 2% to $1.87. The total cryptocurrency market capitalization rose by 1.2% to $3.08 trillion. Hong Kong and South Korea led regional gains, while Japan and mainland China were closed for holidays, resulting in lighter liquidity.
US equity futures also rose on tech sector strength, with S&P 500 futures up 0.29% and Nasdaq futures up 0.36%, supported by AI-driven optimism at market open. Analysts noted renewed conviction in Bitcoin, with the 30-day change in long-term holder supply increasing by about 10,700 BTC and ongoing exchange outflows indicating reduced selling pressure. A break above $89,500 could target $100,000, while $87,000 remains a strong support level.
Markets face policy and political risks, with a 15% probability priced in for a rate cut this month and one additional cut expected by June. President Trump is anticipated to announce Jerome Powell’s replacement later this month, potentially adding volatility.
Precious metals also saw gains, with gold rising 0.9% to $4,351.70 per ounce and silver up 2% to $72.63 per ounce, buoyed by expectations of rate cuts and demand flows. The US dollar began the year weak following its steepest annual decline in eight years.
