The first full week of 2026 concludes on a cautious note. BTC hovers around $90,819, down 4.2% over seven days, while ETH stagnates at $3,119, shedding 3.8%. Trading volumes have decreased by 15% compared to the December average, indicating widespread profit-taking after the year-end rally. Analysis: The Market Digests Excesses. Two factors explain this bearish pause. Firstly, the macroeconomic environment: Wednesday’s Fed minutes confirmed a status quo on interest rates, with members divided on the timing of future cuts. The Dollar Index (DXY) remains firm at 104.2, mechanically weighing on risk assets. Secondly, the 2024 halving has already been priced in: miners are now selling a portion of their reserves to fund operations, creating moderate selling pressure. On the ETH front, the transition to liquid staking continues to support the price, but the network has struggled to attract new DeFi users since the autumn correction. Average gas fees have fallen to 8 gwei, a low not seen since June 2025, reflecting subdued on-chain activity. Outlook: Consolidation or Deeper Correction? In the short term, BTC is testing the $88,000 support level, a key point that has held during the last three pullbacks. A technical rebound is likely early in the week.
