Bitcoin briefly surpassed $93,000, reaching a peak of $93,388, before stabilizing around $92,600. Ethereum maintained its position above $3,100. Over the past 24 hours, the market saw $260 million in liquidations, with short positions accounting for $211 million, marking a challenging start to 2026 for bears. Data from yperliquid indicates that a prominent Bitcoin whale has seen unrealized profits grow to $17 million, with significant funds shifting towards Ethereum and high-quality altcoins. Meanwhile, the CLARITY and GENIUS bills are set for discussion this month, and a reshuffle within the SEC, following Crenshaw's departure, suggests a shift in the regulatory landscape. Traders are advised to monitor basis trading opportunities as funding rates rise, and to be cautious of potential pullbacks as institutions may capitalize on recent gains. Funds are reportedly moving out of Bitcoin, highlighting the need to assess the capacity of altcoins to absorb this liquidity.