Bitcoin Hits $93,000 as Altcoins Struggle to Keep Pace
Bitcoin briefly touched $93,000, its highest since mid-December. Discover why altcoins are lagging, the impact of CME futures gaps, and the $260M in market liquidations.
Bitcoin's back in a big way. On Jan 5, 2026, the world's largest cryptocurrency briefly touched $93,350, marking its highest level since December 11. This surge coincided with the opening of CME futures trading, leaving a notable price gap between $90,500 and $91,550. While the mood is buoyant, the fractured performance of altcoins suggests that traders are staying cautious.
The CME Futures Gap and Bitcoin price $93,000 Milestone
The price action wasn't just a slow grind; it was a liquidation event. Over the past 24 hours, crypto exchanges saw $260 million in leveraged bets wiped out, with shorts bearing the brunt of the pain. Bitcoin perpetual funding rates have topped 10%, indicating a massive appetite for long positions as traders eye the mythical $100,000 mark on Deribit.
Altcoin Lag Highlights Liquidity Concerns
Despite BTC's rally, it's not a rising tide for all boats. The CoinDesk Meme (CDMEME) index plummeted 6.4%, and the Metaverse index fell 2.3%. Even popular assets like DOGE and PEPE saw losses of 1.4% and 4.5% respectively. This divergence points to a lingering lack of liquidity in the broader market, with capital flowing selectively into majors and specific AI-linked tokens like FET.
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