Market is showing a strange calmness. Bitcoin is repeatedly testing support in the $92,500-$93,800 range, while Ethereum is holding firmly at the $3,150 level, with trading volume noticeably shrinking. But if you look at on-chain data, the movements of whale wallets tell a different story—institutions are quietly accumulating, building momentum for the upcoming market.

**Key Highlights**

Regarding Bitcoin, the daily chart has reached the final critical point of the triangle convergence. The price is compressed within the narrow range of $92,000-$94,000. Once it breaks above the resistance at $94,500, it could directly target $96,000-$98,000 in the short term; however, if it fails to hold the support at $91,500, a leveraged liquidation could trigger a chain reaction, pushing the price down to $88,000-$89,000.

On the Ethereum side, there's an interesting phenomenon. The amount of ETH waiting to be deposited has surged to 900,000-1,000,000 ETH, while only 80,000 ETH are left to be redeemed. What does this indicate? Selling pressure is nearing exhaustion. Major institution BitMine recently staked 590,000 ETH, worth $1.8 billion, shifting from mere holding to earning yield, which can generate nearly $400 million annually. This is a classic long-term strategic signal.

Timing is also crucial. On January 15, the CLARITY bill will undergo a key review. If the regulatory framework becomes clearer, it will boost the market’s long-term outlook. More urgently, tonight’s US non-farm payroll data will be released. If the data shows economic cooling, expectations of Fed rate cuts will strengthen, supporting crypto assets; but if the data exceeds expectations, it could trigger liquidity tightening concerns—both scenarios are possible.

**How to Manage the Rhythm**

For short-term trading, you can go long when Bitcoin pulls back to $91,500-$92,000 and stabilizes, with a stop-loss at $90,000. For Ethereum, consider deploying in batches within the $3,100-$3,150 range.

Mid-term, once these key resistance levels are broken, Bitcoin aims for $95,000, while Ethereum could reach $3,300-$3,500. Smaller coins with weaker fundamentals should be approached cautiously; currently, capital is clearly flowing into solid projects like SOL and AVAX.

**One Sentence Summary**

The calm before the storm often harbors the greatest opportunities. Whales are accumulating at lows, options expirations are resonating, and the market is about to change. But you need discipline—strictly executing stop-loss and take-profit—to survive until the true climax of this bull market.

*Disclaimer: The above content is compiled from public market data for informational purposes only and does not constitute investment advice.*