The crypto market hit a speed bump on Thursday, January 8. Bitcoin plunged 2.6% to $91,257.16, while Ethereum fell to $3,164.79, losing the psychological $3,200 level. This correction wipes out some of the early-week gains, but on a weekly basis, BTC is still up 4.3%. The decline is attributed to profit-taking after Tuesday’s rally, coupled with macroeconomic concerns: US bond yields rose, boosting the dollar’s appeal and weighing on risk assets. Technically, Bitcoin broke through the $92,000 support level, which had served as a floor for three days. The next support zone is around $90,000, a major psychological threshold. Ethereum, more volatile, is testing $3,150 with an RSI at 45, signaling a potential further decline if BTC does not stabilize. Trading volume surged 20%, indicating active selling participation. Despite this pullback, the weekly trend remains positive, leaving room for a technical rebound. Investors will be closely watching US inflation data due next week.
