January’s Slide: Bitcoin and Ethereum Under Pressure, the Market Holds Its Breath
The first week of January 2026 ends on a cautious note for crypto markets. Bitcoin (BTC) gives up ground, trading at $91,373, down nearly 4% from the previous week’s peak. Ethereum (ETH) follows the trend at $3,139, down about 5% over the same period. These corrections, though moderate, mark a contrast with the year-end 2025 euphoria.
Analysis: What Is Weighing on the Market?
Several macroeconomic factors explain this pullback. First, the release of the Federal Reserve’s minutes on January 3 revived fears of prolonged high interest rates. Investors now anticipate a first rate cut no earlier than March, curbing appetite for risk assets like cryptocurrencies.
Second, the end of the fiscal year triggered massive profit-taking. On-chain data shows that addresses holding BTC for more than 6 months sold nearly 1.2% of their positions in December, a trend continuing into January. This “old money” is leaving the market, creating selling pressure.
Finally, ETH suffers from a specific context: competition from layer-1 blockchains (Solana, Avalanche) is intensifying, and Ethereum transaction volumes remain stable without a major catalyst. The ETH/BTC ratio has slipped to 0.034, its lowest since October 2025.
Outlook: What to Watch This Week?
In the short term, the market remains vulnerable. The psychological $90,000 threshold for BTC is a key level. If it breaks, a test of $88,000 is possible. For ETH, support at $3,000 is crucial. A bearish breakout would accelerate selling. However, some analysts see this correction as a buying opportunity ahead of the halving scheduled for April 2026. In the meantime, patience and caution remain the watchwords.
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