The current SOLVBTC trend is influenced by both the continuation of Bitcoin (BTC) bullish momentum and the accumulation of SOL short positions. It is expected that BTC will oscillate and test higher levels within the $92,000-$104,000 range, while SOL, under pressure from high-leverage shorts, demonstrates significant upward momentum. If bulls continue to add positions, short squeeze risks could trigger a new wave of gains. Therefore, it is recommended to closely monitor whether BTC can effectively break above $104,000 and whether SOL can stabilize above $124.9. Pay attention to SOLVBTC’s high-level consolidation and divergence in strength, and adjust position strategies near key support and resistance areas.

Recently, the on-chain concentration of Bitcoin chips has declined slightly during a gradual price increase, and there is still significant buying interest accumulating around the $87,000 mark, providing support for subsequent tests in the $92,000 to $104,000 range. Meanwhile, as the cost basis for short-term holders rises but hasn't reached their liquidation point, potential selling pressure is restrained and the market’s tolerance for pullbacks has increased. Overall, short-term sentiment favors risk acceptance, and if prices do not fall below key support levels, the chances for a bullish reversal are higher.

On January 4, analyst Murphy noted that BTC's chip concentration within 5% of the January 1 price dropped from 14.9% to 14.5% by January 3, while BTC's price slowly rose. Historical data suggests that a decline in concentration amid rising prices indicates continued price increase. Significant BTC accumulation at $87,000 supports a range of $92,000-$104,000. Technical signals suggest a rebound is more likely than a false breakout unless BTC falls below $87,000.

Analysis: BTC chip concentration decreases, chip structure support is effective, rebound probability is higher than a false breakout followed by further decline.

CryptoQuant analyst Axel notes that Bitcoin's current rise benefits from reduced selling pressure by short-term holders, who are currently at a loss since BTC trades below their average acquisition cost. This limits their profit-taking potential and suppresses sell pressure, explaining price resilience despite pullbacks. However, if BTC reaches $100,000, short-term holders may break even and start selling, creating price pressure. A key bullish signal is BTC closing above the short-term holders' realized price.

Analyst: The current BTC rise benefits from reduced selling pressure; if it reaches $100K, it will face selling from short-term holders.

High-capital leverage short sellers have opened positions near $124.9 and increased leverage up to 3x; however, these positions are currently showing significant floating losses, reflecting SOL’s price persistence in rising since those entries. This move has suppressed some speculative selling and shifted market sentiment to cautious wait-and-see. If bulls continue driving prices higher and SOL stabilizes at these levels, shorts may face forced liquidation risks, possibly triggering further price surges in the short term.

On January 5, according to Hyperinsight monitoring, the "100% win rate" trader (0xf970f) is still shorting 2,000 SOL tokens with 3x leverage, approximately $272,000. The position is currently at a floating loss of $22,000, with an entry price of $124.91 and a liquidation price of $236.43.

The "100% win rate" trader's SOL short position is currently at a floating loss, with a liquidation price of $236.43.

Considering the trends of both Bitcoin and SOL, BTC bulls are likely to test the $92K–$104K range, while SOL rebounded strongly after repeated short attacks, showing notable resilience. If BTC’s gains exceed those of SOL, SOLVBTC could consolidate at a high level; if SOL outperforms, it may break out of the current sideways pattern. In the short term, focus on relative strength indicators and key support and resistance levels to judge the outcome of the bull-bear battle.

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SOLVBTC price today is 76131.00, with a live price change of 1.92 in the last 24 hours. Convert, buy, sell and trade SOLVBTC on Bybit-ge.

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