Bitcoin is slipping as risk-off sentiment, fading momentum and a chorus of bearish chart signals put the market on edge, with traders zeroing in on $90,000 as the make-or-break level that could decide whether the pullback stabilizes—or deepens.
Without exaggeration, the risk does exist — but it is far from guaranteed.
Summary
- Bitcoin is trading around $90,658, struggling to reclaim key resistance amid macro uncertainty and market weakness.
- On-chain data, including CoinGlass’ NRPL metric, shows cooling momentum and slower profit-taking, signaling cautious market sentiment.
- A push above $97K–$98K could restore bullish control, while losing $90K–$91K support increases the risk of a deeper pullback; next moves will shape the short- to medium-term BTC outlook.
Current market scenario
Bitcoin (BTC) is down about 2%, dropping below $92,000, it’s now under $91,000, and traders are keeping a close eye on this level — it could either hold and stabilize the price, or if it cracks, BTC might head lower.
BTC 1-day chart, January 2026 | Source: crypto.newsThe pullback comes amid risk-off vibes, worries about President Trump’s tariffs, and general market weakness. Short-term support levels are giving way, signaling the bulls are losing strength.
On-chain data also shows profit-taking has slowed, which adds to the cautious mood.
Brandt is bearish
Peter Brandt, a trader with over 850,000 followers on X, added fuel to the Bitcoin debate on X, suggesting it could slide down to around $58,000–$62,000.
He points to a rising wedge that’s been building for months — a classic bearish setup signaling the bulls might be losing steam.
He was quick to say he’s not always right, noting he’s “wrong about 50% of the time” and that this is just a possibility. Even so, his warning has traders on edge, especially short-term ones.
Bitcoin still can’t reclaim major resistance, keeping the BTC forecast on the cautious side.
On-chain data signals cooling momentum
Some on-chain data suggests Bitcoin’s upward push is losing steam. CoinGlass’ NRPL metric — which tracks trader profits — has slipped slightly negative after months of strong positive numbers.
Bitcoin NRPL metric | Source: CoinGlassThis tends to happen when buying interest cools off and the market is just absorbing selling. It doesn’t mean a meltdown is around the corner, but BTC could be more fragile if fresh buyers don’t jump in.
Bitcoin price prediction: Key levels to watch
If Bitcoin can push back above the $97,000–$98,000 range, it would signal that bulls are regaining control and could break the bearish trend, giving BTC a solid boost.
Looking to the downside, losing channel support at $90,000–$91,000 would raise the odds of a bigger pullback for Bitcoin. That could bring in $62,000, though it’s not a guaranteed outcome.
The Bitcoin price prediction is looking a bit hazy right now. Bearish charts and slowing on-chain activity are warning signs, but BTC has a way of surprising traders. The next moves will be key in shaping the short- to medium-term BTC outlook.
Source: https://crypto.news/bitcoin-price-prediction-90k-line-in-the-sand/
