Bitcoin is currently positioned slightly below the $91,000 mark, experiencing a correction after a vigorous start to the new year that briefly elevated prices towards new seven-day highs.
As per market data, the bitcoin price is trading at approximately $90,815, reflecting a decline of around 1% over the past 24 hours. Daily trading volume has reached approximately $52 billion, while bitcoin’s total market capitalization has decreased to around $1.82 trillion, also down approximately 1% on the day.
This recent downturn places the bitcoin price about 3% lower than its recent seven-day peak of nearly $94,700, following a notable surge of over 8% in the early days of 2026. This rally propelled bitcoin past the $94,000 threshold earlier this week, driven by renewed ETF inflows, bullish options positioning, and a revival of the geopolitical hedge narrative.
The circulating supply of bitcoin now stands at 19.97 million BTC, gradually approaching its capped limit of 21 million coins.
This latest movement represents a pause after bitcoin emerged from a multi-week consolidation phase that restrained prices for a significant portion of December. The $91,000 level, which previously functioned as resistance, has transitioned into a crucial short-term support zone as traders reassess momentum.
Market participants suggest that the retreat indicates profit-taking rather than a definitive trend reversal, particularly following last week’s rapid upward movement.
From a technical standpoint, a sustained drop below $91,000 could unveil deeper support around the $87,000 level, whereas a rebound above $94,000 would reestablish the trajectory toward resistance in the $98,000–$100,000 range.
Bitcoin Price Volatility Looms Ahead of January 9
In addition to near-term technical indicators, traders are increasingly attuned to macroeconomic catalysts, particularly a U.S. Supreme Court ruling scheduled for January 9 regarding the legality of President Donald Trump’s global tariffs.
Prediction markets indicate a high likelihood that the court will invalidate the tariffs, a decision that could compel the U.S. Treasury to refund approximately $133–$140 billion to importers. Such an event could introduce volatility across equities, bonds, and cryptocurrency markets simultaneously.
Given its demonstrated sensitivity to macroeconomic and policy shocks, bitcoin could experience significant price fluctuations depending on how markets adjust their evaluations of fiscal risk and liquidity conditions.
Despite the prevailing short-term uncertainty, broader bullish indicators persist. Bitcoin ETFs have recently noted their strongest daily inflows since October, while options markets continue to display substantial positioning for higher prices in the latter part of the year.
At present, the bitcoin price is recorded at $90,860.10.
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