Bitcoin ($BTC
) trades around $89,000 as of January 21, 2026, amid a six-day losing streak that has erased gains from recent highs near $98,000. The cryptocurrency faces downward pressure from macroeconomic uncertainties, including U.S. tariff threats under President Trump, pushing it below key supports like $90,000 and the 50-day EMA.
Recent Price Action
BTC slipped below $91,000 on January 20, marking its longest decline since November 2024, with a low of $89,162. A brief recovery tested $92,800 but failed, as selling pressure from large negative delta clusters and short positioning dominates.
Key Market Drivers
Macro risks like trade war tensions and geopolitical issues weigh on risk assets, offsetting early-2026 optimism.
Corporate buying persists, with Strategy acquiring $2.1 billion in BTC despite the dip.
On-chain data shows reduced supply risks entering 2026, but short-term holder profits fuel selling.
Technical Outlook
Analysts eye a potential drop to $85,000 if $90,000 support breaks, supported by bearish EMAs and order flow. Reclaiming $98,000 could signal bullish reversal, with 2026 forecasts ranging $75,000-$225,000 amid volatilit