Bitcoin May Test $89,000 as Selling Pressure Intensifies—Here’s What’s Next for the BTC Price Rally
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The post Bitcoin May Test $89,000 as Selling Pressure Intensifies—Here’s What’s Next for the BTC Price Rally appeared first on Coinpedia Fintech News Bitcoin price is juggling around the crucial range at $90,000 after failing to secure acceptance above $95,000, triggering a sharp shift in short-term market structure. The rejection at higher levels has pushed BTC into consolidation mode, dragging the broader crypto market lower. A key macro overhang is the U.S. Supreme Court ruling due Friday on the legality of tariffs imposed by former President Donald Trump. Nearly 1,000 companies have challenged the measures, warning of economic and trade disruptions. A ruling against Trump could strengthen the dollar and spark a risk-off move across global markets—pressuring Bitcoin further. In that case, BTC risks losing the $89,000 local support, opening the door to deeper downside. BTC Price Tests the Support at 200-day MA Bitcoin began 2026 with a strong breakout, surging from a multi-week range to nearly $95,000. However, momentum faded quickly. The price has dropped over 5% in recent sessions, with declining volume suggesting distribution rather than healthy consolidation. Unless BTC reclaims $90,500–$91,000 swiftly, downside pressure may persist through the week, especially as macro uncertainty peaks. Holding above $89,000 remains critical to prevent a broader bearish continuation. As seen in the above chart, the BTC price faced a rejection for the third consecutive time since December, flashing bearish signals. The MACD displays a drop in buying pressure, which may further undergo a bearish crossover. As it continues to remain within a negative range, the possibility of an extended pullback hovers over the token. However, the 200-day MA could act as a strong base and trigger a rebound, but only if the buying volume kicks in. Momentum Cools, but the Broader Trend Remains Intact Bitcoin’s Market Value to Realised Value…
Filed under: News - @ January 8, 2026 7:28 pm