Bitcoin climbed back above $91,000 on Thursday, stabilizing after several volatile sessions as traders weighed mixed macro signals and renewed pressure from derivatives markets.
The move places BTC back near recent consolidation levels, even as broader uncertainty continues to shape short-term sentiment.
- Bitcoin is back above $91,000, but price remains stuck in a consolidation range rather than a clear uptrend.
- MACD shows weakening short-term momentum, though selling pressure appears to be easing.
- RSI is near neutral, suggesting the market is neither overbought nor oversold.
- ETF outflows and recent liquidations continue to cap upside moves in the near term.
Macro signals keep momentum in check
The rebound came shortly after the latest U.S. jobs report, which pointed to a labor market that remains resilient but is gradually cooling. While the data did not trigger a sharp risk-on reaction, it helped ease fears of immediate policy tightening, offering some breathing room for crypto and equities alike.
At the same time, legal uncertainty resurfaced in Washington. The U.S. Supreme Court declined to issue a ruling on challenges tied to tariffs introduced under President Donald Trump, prolonging ambiguity around trade policy. For markets, the lack of clarity added another layer of macro hesitation, limiting follow-through momentum for Bitcoin above the $92,000 area.
Liquidations rise as leverage gets tested
Derivatives data shows that volatility remains elevated beneath the surface. Roughly $56 million in Bitcoin positions were liquidated over the past 24 hours, with short positions slightly outweighing longs. This points to a market still crowded with leverage, where sharp intraday moves continue to flush out overextended traders and slow trend development.
ETF outflows and technical support in focus
According to recent Farside Investors data, institutional flows added further pressure. On January 8, Bitcoin spot ETFs recorded net outflows, interrupting the strong inflow streak seen earlier in the month and signaling a pause in institutional demand at current levels.
From a technical perspective, analysts at Bitcoinsensus highlighted that Bitcoin is hovering above a major weekly order block, with price holding just above a key demand zone between $76,000 and $82,000. They note that signs of renewed strength from this area could open the door for another push toward the $100,000 psychological level.
$BTC Hovering Above Major Weekly Order Block
📉 Price holding just above key demand zone ($76K–$82K)
📈 Watch for signs of strength — could fuel the next leg toward $100K+#Bitcoin #Crypto pic.twitter.com/FF6WKFeMKA
— Bitcoinsensus (@Bitcoinsensus) January 9, 2026
Additional insight comes from Rand’s latest statistics, which show a heavy concentration of trading activity around the $90,000-$92,000 range. This suggests Bitcoin is currently in a balance phase, where buyers and sellers are closely matched, increasing the probability of a larger move once conviction returns.
Technical Analysis
From a momentum standpoint, indicators suggest Bitcoin is at a crossroads rather than in a clear trend. On the 4-hour chart, MACD has recently turned negative, with the signal line crossing below the MACD line, pointing to fading short-term bullish momentum after the rejection near recent highs. However, histogram bars are beginning to contract, which often signals that selling pressure is losing strength rather than accelerating. This aligns with the idea of consolidation rather than the start of a deeper sell-off.
RSI is hovering around the neutral zone, sitting below 50 but well above oversold levels. This reflects a market that has cooled off from recent strength without entering panic territory. In practical terms, RSI suggests Bitcoin still has room to move in either direction, depending on what catalyst comes next, rather than being stretched or exhausted.
Taken together, MACD and RSI support the broader narrative of balance and indecision around the $90,000-$92,000 range. If momentum stabilizes and RSI starts reclaiming the 50-55 area while MACD flattens or turns higher, it would strengthen the case for another upside attempt toward $95,000 and potentially $100,000. On the other hand, a renewed MACD expansion to the downside combined with RSI slipping toward the low 40s would increase the risk of a deeper pullback toward lower demand zones, especially if ETF outflows persist or macro headlines turn more negative.
Conclusion
For now, Bitcoin’s return to $91,000 reflects resilience rather than a confirmed breakout. With macro developments, ETF flows, and liquidation dynamics still in play, the next directional move will likely depend on whether buyers can turn this stabilization into sustained momentum.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.