TLDR

The probability of Bitcoin reaching new all-time highs this month has dropped drastically on platforms like Polymarket.
Traders are showing a “loss of conviction” following price stagnation near key resistance levels.
Market sentiment has shifted from euphoria toward a phase of consolidation or a potential technical correction.

The year 2026 began with a wave of optimism in the crypto market, but recent data suggests that this momentum is exhausting itself. Metrics revealed by major prediction markets indicate that trader confidence in the Bitcoin price in January making further progress has decreased sharply over the last few days.

In fact, what started as an expectation of a bullish rally has turned into nothing more than a zone of indecision. 

For example, on platforms like Polymarket, bets on whether Bitcoin will surpass $100,000 before the end of the month have experienced a notable percentage drop. This lack of conviction is also reflected in the options markets, where buying volume has declined, suggesting that institutional and retail investors are adopting a “wait and see” stance in the absence of immediate catalysts.

Factors Slowing Down the Bitcoin Price in January

Technical experts in the sector point out that the market could be facing a “bull trap” following the upward move seen in the first week. The Bitcoin price in January failed to consolidate above $95,000, causing many speculators to close their long positions for fear of a correction toward support levels near $88,000.

In addition to technical analysis, the global macroeconomic environment is playing a crucial role. Uncertainty regarding the Federal Reserve’s upcoming decisions and geopolitical tensions have limited the appetite for risk. As time moves forward, the window of opportunity for a “January rally” seems to be closing, setting the stage for a battle to maintain current support levels.

In summary, while Bitcoin continues to maintain a solid long-term structure, prediction data makes it clear that short-term optimism has frozen. Investors will need to closely monitor the weekly close to determine if the Bitcoin price in January can resume its upward path or if we will enter a prolonged period of sideways movement.

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Filed under: News - @ January 8, 2026 7:27 pm