On January 8, 2026, traders on X reiterated bearish views after Bitcoin failed to clear $95,000 and drifted back toward its yearly open near $90,000, according to TradingView. Several participants highlighted support at $87.5k–$89k and warned of a potential slide toward $76,000, citing a developing weekly "Death Cross" as a reason to sell strength.

Bitcoin is trading below $90,000 after a failed attempt to hold above $94,000 in early January, leaving its 2026 outlook highly divergent. Institutional and analyst forecasts for that year now range from potential drops toward $25,000 or $60,000 to bullish targets as high as $1,000,000. Expectations cluster around six‑figure levels from major banks and asset managers, but opinions remain sharply split on how the market will evolve by the end of 2026.

Bitcoin is trading around the $90K area after a rejection near $95K, with price action shaped by geopolitical tensions and shifting risk sentiment. On higher timeframes, BTC has broken out of a descending channel following accumulation near $80K, while shorter-term charts show a rising wedge pointing back toward $90K support and possibly $88K if it fails. Market indicators suggest mixed sentiment, with negative Coinbase Premium and soft spot demand, but derivatives positioning remains relatively stable.

Trader Peter Brandt has highlighted a rare bullish bottom pattern on Bitcoin, with key levels around $90,000 to $100,000 and downside risk toward $70,000. Bitcoin is trading near $90,212 with lower volume, while ETF outflows, reduced leverage and macro uncertainties weigh on sentiment. If BTC can clear $92,000 and eventually $100,000, some market participants see room for a larger rally, though others warn of a potential crash if risk assets weaken.

In an interview published in early January 2026, Russian economist Oleg Vyugin argued that Bitcoin is unlikely to supplant gold in the coming years because of a highly concentrated market dominated by large holders. He still expects the cryptocurrency to appreciate against major fiat currencies like the U.S. dollar, citing its fixed, programmatically limited supply. Vyugin linked Bitcoin’s long-term appeal to its resistance to inflation, while Russia moves toward comprehensive crypto regulation planned by July 2026.

Bitcoin began the year strongly but remains capped below $100,000, with dealer hedging reportedly pinning price between $90,000 and $95,000 ahead of key options expiries later in January 2026. Analysts highlight resistance near $94,000, rising support from late 2025, and CME futures gaps around $90,700 and $88,000–$88,500 as critical levels that could guide the next major move. While some expect a short-term rally toward $97,000–$107,000, projections also include a possible drop below $70,000 later in the cycle.

On 8 January 2026, Florida lawmakers advanced a new effort to create a state-level strategic cryptocurrency reserve, with eligibility rules that currently restrict holdings to Bitcoin. House Bill 1039, backed by Representative John Snyder and companion Senate bills SB 1038 and SB 1040, would establish the reserve and a trust fund to manage digital assets, using a $500 billion average market capitalization requirement over 24 months as the key filter. Supporters pitch the move as a diversification tool following federal action in 2025, while critics highlight Bitcoin's sharp price swings and unresolved regulatory questions ahead of a conditional effective date of July 1, 2026.

President Donald Trump announced on Wednesday a plan to bar large firms from buying single-family homes and urged Congress to make it law. Treasury Secretary Scott Bessent detailed a "No Tax on American Car Loan Interest" policy allowing up to $10,000 in annual interest deductions on U.S.-assembled vehicles for 2025–2028, a mix analysts say could redirect capital toward Bitcoin.