Published: January 7, 2026
Bitcoin has pulled back below $93,000 after failing to sustain Monday’s brief rally above $99,400. Trading at $92,998 with a -0.76% daily change, BTC highlights ongoing market fragility despite underlying institutional interest and positive ETF flows in early 2026.
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Current Bitcoin Price Action
Bitcoin shows mixed signals in the opening week of 2026:
- Current Price: $92,998
- 24-Hour Change: -0.76%
- Market Cap: $1.84 trillion
- 24-Hour Volume: Elevated amid rebalancing
The dip follows profit-taking after a 4.8% intraday surge on Monday, underscoring short-term caution.
Monday’s 4.8% Rally Breakdown
The temporary push reflected:
- Short squeeze and renewed buying.
- Brief break above $99,000 resistance.
- Fading volume at highs leading to reversal.
Gains evaporated quickly, returning price to consolidation range.
Why Bitcoin Failed to Hold $93,000
Profit-Taking Pressure
Short-term traders locked gains near psychological levels:
- Sell walls activated around $99K–$100K.
- Year-start portfolio adjustments amplified selling.
Supply Wall at $93K
On-chain data reveals dense resistance:
- Accumulated positions from prior holders.
- Overhead supply capping upside attempts.
Fragile Sentiment
Broader factors contribute:
- Macro uncertainty lingering.
- Reduced holiday liquidity exaggerating moves.
Technical Analysis and Key Levels
- Resistance: **$93,000–$94,000** (immediate); **$99,000–$100,000** (major).
- Support: **$90,000** (strong); **$83,000–$85,000** (deeper).
- Pattern: Range-bound post-rejection, RSI neutral ~55.
Institutional Momentum vs. Short-Term Weakness
Longer-term positives persist:
- Spot ETF inflows resuming.
- Corporate treasury interest steady.
- Contrast: Short-term profit-taking dominates.
Next Moves for Bitcoin Traders
- Bull Case: Hold $90K, reclaim $93K targets $99K retest.
- Bear Case: $90K loss risks $83K test.
- Watch: Volume, ETF data, macro releases.
Conclusion
Bitcoin’s struggle below $93,000 after Monday’s rally reflects profit-taking and supply walls in a fragile environment. While short-term caution prevails, institutional momentum supports longer view. Traders should focus on key levels and risk management in early 2026 volatility.
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Disclaimer: This article is for informational purposes only and does not constitute trading or investment advice. Cryptocurrency markets are highly volatile.
