"Bitcoin hovered just below the $91,000 level today, paring recent gains after an explosive start to the new year that briefly pushed prices toward fresh seven-day highs. The bitcoin price was trading around $90,815, down roughly 1% over the past 24 hours, according to market data. Daily trading volume stood near $52 billion, while bitcoin's total market capitalization slipped to about $1.82 trillion, also down around 1% on the day."
"The pullback leaves the bitcoin price roughly 3% below its recent seven-day high near $94,700, after prices surged more than 8% in the first days of 2026. That rally carried the bitcoin price above $94,000 earlier this week, fueled by renewed ETF inflows, bullish options positioning and a resurgence of the geopolitical hedge narrative. Bitcoin's circulating supply now stands at 19.97 million BTC, inching closer to its fixed cap of 21 million coins."
"The latest move marks a pause after bitcoin broke out of a multi-week consolidation range that capped prices through much of December. The $91,000 level, which previously acted as resistance, has now become a key short-term support zone as traders reassess momentum. Market participants say the retreat reflects profit-taking rather than a decisive shift in trend, particularly after last week's rapid upside move."
Bitcoin traded around $90,815, down roughly 1% over 24 hours, with daily volume near $52 billion and market capitalization about $1.82 trillion. The price sits roughly 3% below a seven-day high near $94,700 after an early‑2026 surge exceeding 8% that briefly pushed prices above $94,000, driven by ETF inflows, bullish options positioning and a geopolitical hedge narrative. Circulating supply stands at 19.97 million BTC, approaching the 21 million cap. The $91,000 level has shifted from resistance to short‑term support. Traders view the retreat as profit‑taking; a break below $91,000 could target $87,000 while a move above $94,000 opens $98,000–$100,000. Market focus centers on a January 9 U.S. Supreme Court ruling on tariffs that could inject volatility.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]