Bitcoin experienced a correction on the evening of January 8th. As of 23:00, the price was $90,402, down 2.12% over the past 24 hours. During this adjustment, the intraday high reached $92,847, and the low dipped to $89,640. The total market capitalization remained stable around $1.81 trillion, with trading activity remaining high—total trading volume reaching $44.25 billion.

The main drivers of this market correction stem from two factors. First, emotional fluctuations—recently, leverage liquidation pressures have eased, with 137,800 traders forcibly liquidated during this decline, resulting in total losses of $465 million. This chain reaction of forced liquidations further accelerated the short-term decline.

From a technical perspective, $90,000 remains a key support level; holding this psychological threshold is crucial. On the upside, $92,000 has become a recent resistance level. However, in the medium term, the bullish structure remains intact, with no signs of being broken. The current advice is to stay on the sidelines or to lightly position at lower levels, waiting for clearer directional signals.