Jan 8 Market Update: Will $BTC Hold the $90k Support?

After a volatile start to 2026, Bitcoin is currently testing the patience of many traders. We are seeing $BTC hovering between $90,800 and $91,200 after failing to sustain the $94k levels reached earlier this week. Based on today's market study, here are the key takeaways:

1. The "FOMO" Cleanout (Deleveraging): We’ve witnessed approximately $450 million in long liquidations today. This pullback isn't necessarily bearish; rather, it’s a necessary "market flush" to clear out high-leverage positions that accumulated during the first week of January. This reset creates a healthier foundation for the next leg up.

2. Key "Line in the Sand" Levels:

Support: All eyes are on the daily close above $90,000. A break below this psychological floor could trigger a deeper retest of the CME gap near $87,500.

Resistance: We won't see a true bullish continuation until we flip the $94,200 level into support with strong spot buying volume.

3. Anticipating the "CLARITY Act": The primary driver behind this sideways chop is the upcoming Senate Banking Committee review on January 15. Markets hate uncertainty, and investors are waiting for the final draft of this regulatory bill, which could redefine the crypto landscape in the U.S.

My Take: We are currently in a sideways accumulation phase. I see no reason to chase the green candles here. The smartest move is to observe the $90k support and wait for price stabilization before entering new positions.

Trade with a plan, not your emotions.

#Bitcoin #BTC #MarketAnalysis #Crypto2026 #Write2Earn