Bitcoin Falls 2.4% to $89,881 as Early-2026 Momentum Fades

Bitcoin fell 2.4% to $89,881 over the past 24 hours on January 8, retracing most of its first-week gains as early-year optimism faded, CoinGecko and Decrypt data show. Risk-off sentiment has intensified across global markets as investors await key macro indicators including U.S. employment data, keeping Bitcoin mostly just above $90,000 with periodic dips below that level, said SynFutures COO Wenny Cai. CEX.IO chief analyst Illia Otychenko said the drop below $90,000 reflects weakening early-2026 momentum, noting that new allocations at the start of 2026 and supportive geopolitical headlines offered initial backing but were not strong enough to sustain a continued rebound. U.S. spot Bitcoin ETFs posted a single-day net outflow of $243 million, while total liquidations over the past 24 hours exceeded $477 million, Otychenko added.