According to glassnode, BTC is stabilizing within the $80K–$95K range as momentum recovers and sell pressure fades (source: glassnode, Market Pulse, Jan 5, 2026). According to glassnode, spot liquidity is thin (source: glassnode, Market Pulse, Jan 5, 2026). According to glassnode, derivatives open interest is rebuilding cautiously and options markets point to near-term volatility (source: glassnode, Market Pulse, Jan 5, 2026). According to glassnode, these conditions define a range-bound backdrop with elevated short-term volatility risks between $80K and $95K (source: glassnode, Market Pulse, Jan 5, 2026).