Bitcoin bounces to $90,500 after testing key support of $89,200

2026-01-08 18:44:40

Source: CryptoNewsNet Original Title: Bitcoin bounces to $90,500 after testing key support of $89,200 Original Link: Bitcoin BTC was off its worst levels in morning U.S. trade Thursday, rising back to $90,500 after having fallen to roughly $89,300 earlier in the session.

This third consecutive day of pullback comes after bitcoin rose to just shy of $95,000 on Monday, with lighter trading volumes and a wave of profit-taking being observed by crypto trading firm Wintermute.

“After initial re-risking from the yearly open, the market failed to break the key $95,000 level, which resulted in two-way trade as exchange-traded fund (ETF) outflows dominated the last two sessions,” said Jake Ostrovskis, head of OTC at Wintermute.

Additionally, at work may be continued declines in expectations for a near-term rate cut by the Federal Reserve, with the probability of an easing at the Fed’s January 28 meeting now at only 11.6%, according to CME FedWatch. One week ago, the odds stood at 15.5% and one month ago at 23.5%.

BTC0.23%

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