Bitcoin price rose 1.5% over the past 24 hours, trading at $91,231 at 11:36 a.m. EST, while trading volume fell 45% to $26.7 billion.
This comes as Bitcoiners celebrated ‘Genesis Day’. The day the first block on the Bitcoin network was mined by pseudonymous BTC creator Satoshi Nakamoto.
Nakamoto mined the Bitcoin Genesis Block on January 3, 2009.
“Happy Bitcoin Genesis Block Day,” said Paolo Ardoino, the CEO of stablecoin publisher Tether. At the same time, Sam Callahan, director of strategy and research at BTC treasury company OranjeBTC, said: echoed the message.
Happy Bitcoin Genesis Block Day
— Paolo Ardoino 🤖 (@paoloardoino) January 3, 2026
The Bitcoin community often refers to the message in the Genesis Block as a symbol of Bitcoin’s core idea: a decentralized form of money that cannot be inflated or devalued due to its fixed supply.
BTC is now up 4% in the past week. Can the trend continue, or will the bears react to the recent surge?
Bitcoin price recovers – recovery builds within the ascending channel
The BTC price is showing signs of a steady recovery after recovering from the recent swing low near $80,500 and trading above the key Fibonacci support levels in the $85,500-$88,000 region.
This recovery comes as Bitcoin tries to stabilize after a sharp corrective move from the $110,000-$115,000 area, where the flagship crypto was under heavy selling pressure after a prolonged rally.
Bitcoin’s decline accelerated once the price fell below both the 50-day and 200-day Simple Moving Averages (SMAs), confirming a bearish shift in structure as the market entered a corrective phase. The inability to hold above the 200-day SMA around $106,700 marked the beginning of a deeper pullback.
The sell-off pushed BTC through multiple Fibonacci retracement levels, with the Fib level of 0.618 near $85,500 acting as a critical demand zone. This area attracted buyers and helped form a higher low, allowing bulls to regain control in the short term.
From this support, Bitcoin started climbing into a rising channel, reclaiming the 50-day SMA around $89,200, which now acts as support and reinforces the near-term bullish structure.
The Moving Average Convergence Divergence (MACD) has turned bullish, with the MACD line crossing above the signal line and histogram bars turning positive above the neutral level. This indicates improving momentum and increasing buyer participation.
Meanwhile, the Relative Strength Index (RSI) supports the recovery story as it has risen above the mid-line of 50 to around 58, indicating that bullish momentum is being strengthened without being overbought.
BTC Price Outlook
Based on BTC/USD daily chart analysis, Bitcoin is positioned for a sustained recovery as long as the price remains above the 50-day SMA and within the ascending channel.
If the bullish momentum continues, BTC price could target the key Fibonacci resistance levels, with the next upside zones around $94,500, followed by $98,700 (-0.272 Fib). On stronger continuation, BTC could test the $104,000-$106,700 region, in line with the Fibonacci level of -0.618 and the 200-day SMA.
On the downside, if momentum weakens and the RSI approaches overbought territory, short-term profit taking could push BTC back towards the $88,000-$89,000 support zone.
A breakdown below this area could expose Bitcoin price to a deeper decline towards the $85,500 (0.618 Fib) region, which remains an important buffer against renewed selling pressure.
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