January 19 News, Bitcoin prices showed significant pressure at the beginning of this week, affected by U.S. President Trump’s threat to impose tariffs on eight countries opposing his Greenland-related plans, leading to a synchronized decline in global risk asset sentiment. BTC fell along with U.S. stock index futures on the same day, dropping over 1.8%, with the price briefly dipping below $91,920, dampening the previous optimistic expectations of a surge to $100,000.
On the macro level, Nasdaq 100 index futures declined about 1.2%, while gold and silver prices strengthened, indicating a shift of funds into safe-haven assets. Analyst Nic pointed out that, due to the U.S. stock market being closed that day, some investors expressed their stance on macro uncertainties through Bitcoin. He warned that if BTC effectively breaks below $90,000 before the next trading day’s open, there is a possibility of phased profit-taking by ETF holders.
From a technical perspective, an ascending wedge pattern is forming on the Bitcoin daily chart, which is often seen as a sign of weakening upward momentum. The price repeatedly rebounded but with limited amplitude, and has yet to regain the key moving average zone between $95,000 and $100,000. Meanwhile, this wedge is located below the descending trendline extending from last November’s high, indicating persistent selling pressure above. Momentum indicators, such as the Relative Strength Index, remain constrained around the midline, reflecting insufficient bullish strength.
If the lower trendline of the wedge is confirmed to break downward, Bitcoin could further retreat, with potential support zones around $84,000 to $80,000, which previously served as significant support during December’s correction. Conversely, if the price stabilizes and rebounds within the current structure, it may test the upper resistance zone near $100,000 in the short term, though breaking through remains challenging.
On-chain data also signals cautious sentiment. Large accounts holding over 100,000 BTC and major holders with 10,000 to 100,000 BTC have recently shown a trend of reducing their holdings. Meanwhile, addresses holding 1,000 to 10,000 BTC have continued to increase, indicating some funds are being accumulated on dips, but this is not enough to reverse the overall structure.
In the macro context of 2026, geopolitical and trade uncertainties are once again becoming key variables influencing Bitcoin prices. In the short term, whether BTC can hold the $90,000 level will be a crucial reference for market trend continuation.
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