Bitcoin Holds Key Support As Ethereum And Uniswap Diverge

Cryptocurrency markets are never short on drama, and the week leading up to January 18, 2026, has delivered a fresh round of suspense for traders and investors alike. With Bitcoin hovering above key support, Ethereum flashing warning signals, and Uniswap’s major holders quietly amassing tokens even as prices stumble, the digital asset landscape is as unpredictable as ever. What’s really going on beneath the surface, and where could the market be headed next?

Bitcoin Eyes $100,000 as Support Holds Firm

Bitcoin, the world’s largest cryptocurrency, finds itself at a pivotal juncture. According to the latest market analysis, Bitcoin was trading above the crucial $94,630 support zone as of January 17, 2026. This level has been tested repeatedly, with buyers stepping in to defend it each time. Market analyst Michaël van de Poppe commented, “#Bitcoin looks really good for upside. It's currently holding above a crucial resistance zone for support, which means that we're finding buyers here. If this continues to hold, I would assume that we're seeing a new run in the coming week towards $100K.”

For traders, the immediate focus is on whether Bitcoin can break above $95,820—a move that could trigger a push toward the monthly high of $97,960, with further gains possible if momentum continues. Resistance levels at $98,200 and $107,500 are also on the radar, with $107,500 seen as a major decision point for the next leg of the rally. On the flip side, a daily close below $93,347 or $82,477 could open the door to deeper corrections, with strong support expected in the $74,496–$71,237 range.

Adding fuel to the bullish case, the stablecoin market is near its all-time high, signaling increased liquidity and a potential influx of capital into Bitcoin. Institutional interest is also on the rise, with more funds flowing into spot ETFs and company balance sheets. While individual investors appear cautious—reflected in low funding rates and mixed sentiment—these larger players could be setting the stage for a significant move higher. As the weekend approached, sideways price action was expected, but many market watchers are bracing for a possible breakout early next week.

Ethereum Struggles With Divergence and Whale Selling

Ethereum, the second-largest cryptocurrency by market cap, has had a more turbulent week. On January 17, 2026, Ethereum broke out of a bullish triangle pattern, hinting at renewed upside. However, this breakout has been shadowed by a persistent bearish divergence for nearly three weeks, casting doubt on its staying power. The Chaikin Money Flow (CMF) indicator revealed that while ETH prices climbed, capital was quietly flowing out of the market—a classic warning sign that the rally might be running on fumes.

According to on-chain data, Ethereum whales—wallets holding between 100,000 and 1 million ETH—sold more than 230,000 ETH in the week prior to January 17, 2026. That’s roughly $760 million at current prices, a hefty outflow that’s hard to ignore. This selling pressure aligns with the declining CMF, pointing to reduced confidence among major holders. As the article from Editor Harsh Notariya’s Daily Crypto Newsletter noted, “When whales sell into breakouts, price sustainability weakens, increasing the likelihood of further downside in the near term.”

At the time of reporting, Ethereum was trading near $3,309, just above the $3,287 support level. The optimistic scenario—based on the triangle breakout—projected a 29.5% upside move targeting $4,240. But with momentum fading and bearish divergence persisting, the risk of a failed breakout is growing. Should ETH lose the $3,287 support, the price could tumble toward $3,131, confirming the move as a fakeout and potentially triggering a deeper correction below $3,000. That said, all is not lost for the bulls: if Ethereum manages to hold its ground and whale selling subsides, a rebound toward $3,441 and even $3,802 could be in the cards.

Uniswap’s Whale Accumulation Defies Retail Caution

While Bitcoin and Ethereum battle for direction, Uniswap (UNI) is quietly experiencing a tale of two markets. Over the first two weeks of 2026, Uniswap’s price dropped from $6.43 to $5.3—a 17.4% decline—dragging its market cap down to $3.382 billion. The native token of the popular decentralized exchange has underperformed the broader crypto recovery, with retail traders showing little enthusiasm and spot market volumes remaining subdued.

Yet, in a twist that has caught the attention of on-chain analysts, the top 100 UNI holders have been steadily accumulating. Over the past eight weeks leading up to January 17, 2026, these major players added approximately 12.41 million UNI tokens to their holdings. This group controls a significant share of the asset’s roughly 630 million circulating supply, and their actions have historically foreshadowed major price moves.

This divergence between whale accumulation and retail hesitation is particularly notable. According to market observers cited in the coverage, “any sustained movement in Bitcoin could drive bigger impacts to correlated altcoins such as UNI in the near term.” Meanwhile, Uniswap’s perpetual futures open interest has remained flat around $400 million, suggesting that leveraged traders are waiting for a clearer signal before making their next move.

Technically, Uniswap has been consolidating in a narrow range between $6.43 and $4.83 for about two months. The $5 psychological support level—reinforced by a long-term ascending trendline dating back to June 2023—remains a critical battleground. If this support holds, UNI could continue to consolidate for months, giving buyers time to regroup. However, a breakdown below the trendline could accelerate losses, pushing the price below $4. On the other hand, renewed whale buying could spark a rebound toward the $6.3 resistance level, offering hope to embattled holders.

Broader Market Sentiment: A Cautious Optimism

Across the board, the sentiment in the crypto market seems to be one of cautious optimism—tempered by technical warning signs and the ever-present risk of sudden reversals. Bitcoin’s resilience above key support levels and growing institutional interest provide reasons for optimism, but both Ethereum and Uniswap highlight the importance of watching what the biggest players are doing behind the scenes.

The stablecoin market’s near-record liquidity is a double-edged sword: it signals readiness for major moves but also suggests that capital can flow quickly in either direction. With the weekend expected to bring range-bound trading, all eyes are on the coming week for decisive action.

As always in crypto, fortunes can change in a flash. For now, traders and investors would do well to keep a close watch on support and resistance levels, whale activity, and the broader macro environment. The next chapter in this ongoing saga is just around the corner.