2026-01-08 10:24:16

Bitcoin doesn't look too good today. Since this morning, it has been on a decline. Although there was a rebound earlier in the day, the 92,000 USD barrier stubbornly couldn't be broken, with the highest reaching only 91,700 USD before being pushed down again. In the afternoon, just before the European session, the decline intensified, dropping to around 89,640 USD, then pulling back to 90,900 USD. However, it still couldn't hold, and now it’s fluctuating around 90,200 USD, with neither bulls nor bears willing to give the other a clear advantage.

Why is it dropping so sharply? Simply put, the selling pressure is too intense. Early in the week, Bitcoin rebounded to a high level before December but was hammered down. Major funds started to withdraw, and those who had made profits earlier also wanted to sell, combining to create a rollercoaster effect. The current situation is that the 90,000 USD level has become the last line of defense for the bulls. This level itself has some resilience, but the price bouncing up and down here also shows how fierce this battle is.

Next, we need to watch whether the 90,000 USD level can hold. If it breaks below, the next support level is probably around 89,000 USD, and it might continue to decline further. If there's a rebound, resistance zones are at 92,000 to 93,000 USD. Without sufficient trading volume in the short term, it’s unlikely to break through.

At this point, tonight’s initial jobless claims data will be crucial. If the data is higher than expected, it indicates the labor market is still weak, which could strengthen the Fed’s expectation to cut interest rates, potentially leading to a risk-on rally in assets like Bitcoin. Conversely, if the data is below expectations, the room for rate cuts is limited, and market sentiment might turn cautious again, increasing the likelihood of Bitcoin being sold off once more.

BTC0,97%

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TokenStorm

· 01-11 03:46

The 90,000 level is essentially a trap set by the big players; no one wants to reveal their hand before the data is out. On-chain whales are becoming active again. I bet that this unemployment data will be higher than expected, and transaction fees will surge. Looking at the technicals, I’ve already marked the support at $89,000. The arbitrage opportunity is excellent. Speaking of this wave of selling pressure, it feels very similar to the pattern before the last retest. There’s a 70% chance it will drop again. I’ve already calculated the liquidation price, so I’m very calm. After all, I’ve seen through it all long ago. The resistance between 92,000 and 93,000 without enough volume? Then I’ll just wait to be taken out. After all, the fate of small players is like this. The sharp drop during the European session was indeed fierce, but the eye of the storm is the safest place. I will hold this position firmly.

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WalletDoomsDay

· 01-10 16:18

If you can't hold on to 90,000, it's game over. This wave depends on the reaction to the initial unemployment claims data.

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FreeMinter

· 01-10 15:02

If 90,000 can't hold, then we really have to push down. The selling pressure this time is indeed a bit fierce. By the way, if the unemployment benefit data exceeds expectations again... the story on the Federal Reserve's side will become even more complicated. Wait, is there still a chance for a rebound at this point? It feels like the bulls are already a bit exhausted.

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SerumSquirrel

· 01-08 10:54

90,000 is about to be overwhelmed again, this wave of selling pressure is really fierce It's that broken unemployment data causing trouble again The bulls are still holding on there, the scene looks a bit funny Just take the hit, anyway, I'm used to it Let's wait and see what the evening data says, this is the real beginning

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IronHeadMiner

· 01-08 10:53

The 90,000 level is really tough to break through, and both bulls and bears are fighting fiercely here. Let's wait for the evening data; it seems this wave of market movement entirely depends on the Federal Reserve. Another rollercoaster day, it's exhausting to watch. With such strong selling pressure, the main players are really fleeing. Breaking through 92,000 is basically impossible; it requires volume to support it. It feels very likely to test 89,000; we need to be prepared. This game of tug-of-war is too intense; 90,000 is the critical threshold of life and death. Who dares to hold heavy positions before the unemployment data is released? The risk is too high. The morning rebound initially looked promising, but it was crushed like this. If we can't hold above 90,000, there won't be much support left; we need to be cautious.

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ChainSauceMaster

· 01-08 10:52

If you can't hold onto 90,000, it will really break through. Will it just run straight to 88 then?

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BottomMisser

· 01-08 10:48

If you can't hold the 90,000, go down and have some noodles.

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WhaleWatcher

· 01-08 10:35

If the $90,000 line can't hold, are we directly testing the bottom at 89? --- Another day of being harvested by the main funds. --- Waiting for the initial unemployment claims data, this is the real game-changer tonight. --- Honestly, watching this rollercoaster now is just uncomfortable. --- Both bulls and bears don't want to admit defeat, so the price has to keep playing around. --- It feels like the main players have already started dumping, while retail investors are still in a daze. --- If the 920,000 level doesn't break through suddenly, it's over; keep looking for support. --- The Federal Reserve's rate cut expectations are the real variable, and Bitcoin is swinging along with it. --- With such heavy selling pressure, it's hard to say how long the defense can hold. --- It's ridiculous; this morning I thought of a rebound, but we were caught off guard.

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LightningPacketLoss

· 01-08 10:26

If we can't hold 90,000, we might see 89,000. It's the main force dumping again, retail investors following suit to cut losses—how many times has this trick been played? Tonight's unemployment data is crucial; dare to bet it will again exceed expectations? This wave of Bitcoin is really angry. How long can we hold at 90,200? It feels like the bulls are a bit weak.

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