Bitcoin hovered just below $91,000 today, paring recent gains after an explosive start to the new year that briefly pushed the price to a seven-day high.
According to market data, the price of Bitcoin was trading at around $90,815, down about 1% over the past 24 hours. Daily trading volume was close to $52 billion, and Bitcoin’s total market capitalization was about $1.82 trillion, which also decreased by about 1% on this day.
The decline leaves the Bitcoin price about 3% below its recent seven-day high of $94,700, after the price surged more than 8% on the first day of 2026. The rally pushed Bitcoin prices above $94,000 earlier this week, fueled by renewed ETF inflows, bullish option positioning and a resurgence in geopolitical hedging strategies.
The current circulating supply of Bitcoin is 19.97 million BTC, inching closer to the fixed cap of 21 million coins.
The latest move indicates Bitcoin has paused after breaking out of a multi-week consolidation range that had capped the price for most of December. The $91,000 level, which previously served as resistance, has now become key short-term support as traders reassess momentum.
Market participants say the decline reflects profit-taking rather than a definitive change in trend. Especially after last week’s sharp rise.
From a technical perspective, a sustained decline below $91,000 could expose it to deeper support around $87,000, while a rise back above $94,000 would reopen the path towards resistance in the $98,000-$100,000 range.
Bitcoin price volatility expected to increase ahead of January 9th
Beyond near-term technicals, traders are increasingly focused on macro catalysts, particularly the U.S. Supreme Court’s ruling scheduled for January 9 on the legality of President Donald Trump’s global tariffs.
Market forecasts suggest that a court will likely strike down the tariffs, which could force the U.S. Treasury to refund up to $133 billion to $140 billion to importers. These outcomes could simultaneously inject volatility across stock, bond, and cryptocurrency markets.
Bitcoin, with its increased sensitivity to macro and policy shocks, may see sharp price fluctuations depending on how the market assesses financial risk and liquidity conditions.
Despite the near-term uncertainty, broader bullish signals remain. The Bitcoin ETF recently recorded its highest daily inflows since October, and the options market continues to show excessive positioning for price appreciation at the end of the year.
As of this writing, the price of Bitcoin is $90,860.10.