Bitcoin hovered just below the $91,000 level today, paring recent gains after an explosive start to the new year that briefly pushed prices to new seven-day highs.
According to market data, the bitcoin price was trading around $90,815, down about 1% in the past 24 hours. Daily trading volume reached nearly $52 billion, while Bitcoin’s total market capitalization fell to around $1.82 trillion, also down about 1% on the day.
The pullback leaves the bitcoin price about 3% below its recent seven-day high near $94,700, after prices rose more than 8% in the first days of 2026. That rally took the bitcoin price above $94,000 earlier this week, fueled by renewed ETF inflows, bullish options positioning and a resurgence in the geopolitical hedge narrative.
Bitcoin’s circulating supply now stands at 19.97 million BTC, which is closer to the fixed limit of 21 million coins.
The latest move marks a pause after bitcoin broke out of a multi-week consolidation range that limited prices through much of December. The $91,000 level, which previously acted as resistance, has now become a key short-term support zone as traders reassess momentum.
Market participants say the pullback reflects profit-taking rather than a decisive trend shift, especially after last week’s rapid upward move.
From a technical perspective, a sustained break below $91,000 could expose deeper support around $87,000, while a move back above $94,000 would reopen the path to resistance in the $98,000-$100,000 range.
Bitcoin price volatility looms on January 9
In addition to short-term technical developments, traders are increasingly focusing on macro catalysts – particularly a US Supreme Court ruling planned before January 9 on the legality of President Donald Trump’s global tariffs.
Market forecasts suggest the court is likely to strike the tariffs, a decision that could force the U.S. Treasury Department to refund as much as $133 billion to $140 billion to importers. Such an outcome could inject volatility simultaneously in the stock, bond and crypto markets.
Bitcoin, which has shown increased sensitivity to macro and policy shocks, could see sharp price swings depending on how markets revalue fiscal risk and liquidity conditions.
Despite the near-term uncertainty, broader bullish signals remain. Bitcoin ETFs recently recorded their strongest daily inflows since October, while options markets continue to show strong positioning for higher prices later in the year.
At the time of writing, the bitcoin price stands at $90,860.10.
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