Bitcoin remained just under the $91,000 mark, retracing some of its recent gains following a remarkable beginning to the year that momentarily drove prices to new seven-day peaks. Bitcoin’s price is currently hovering around $90,815, reflecting a decline of approximately 1% in the last 24 hours, as per market data. Daily trading volume hovered around $52 billion, with bitcoin’s total market capitalization dipping to approximately $1.82 trillion, reflecting a decline of about 1% for the day. The recent pullback positions the bitcoin price approximately 3% beneath its latest seven-day peak close to $94,700, following a remarkable surge of over 8% in the early days of 2026. The recent rally propelled the bitcoin price past $94,000 earlier this week, driven by fresh ETF inflows, optimistic options positioning, and a revival of the geopolitical hedge narrative.
Bitcoin’s circulating supply has reached 19.97 million BTC, moving steadily towards its ultimate limit of 21 million coins. The recent development signifies a halt following bitcoin’s breakout from a prolonged consolidation phase that had restrained prices for a significant portion of December. The $91,000 level, once a point of resistance, has transitioned into a crucial short-term support zone as traders evaluate the current momentum. Market participants indicate that the retreat is a result of profit-taking, rather than signaling a definitive trend change, especially following last week’s swift upward movement. From a technical perspective, a sustained break below $91,000 could expose deeper support near $87,000, while a move back above $94,000 would reopen the path toward resistance in the $98,000–$100,000 range.
Bitcoin price volatility is on the horizon as we approach January 9. In addition to the immediate technical indicators, traders are sharpening their attention on macroeconomic catalysts. A key event on the horizon is the U.S. Supreme Court ruling set for January 9, which will address the legality of President Donald Trump’s global tariffs. Prediction markets indicate a significant likelihood that the court will invalidate the tariffs, a ruling that may compel the U.S. Treasury to reimburse importers up to $133–$140 billion. This outcome has the potential to introduce volatility across equities, bonds, and crypto markets all at once.
Bitcoin has demonstrated increased sensitivity to macroeconomic and policy shocks, potentially leading to significant price fluctuations as markets adjust their perceptions of fiscal risk and liquidity conditions. Amidst the current volatility, the overarching bullish indicators continue to persist. Bitcoin ETFs have recently experienced their most significant daily inflows since October, as options markets indicate substantial positioning for price increases later in the year.