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Market participants are closely tracking developments in Washington, including decisions on tariffs, leadership at the US Fed and the future course of cryptocurrency legislation.
After rebounding during a broader New Year rally, Bitcoin briefly climbs to just under $94,800 on Monday before losing momentum.
Bitcoin ended its first full trading week of 2026 largely unchanged, hovering around the $90,000 mark as investors stayed on the sidelines amid policy uncertainty in the US. The world’s largest cryptocurrency was down about 2% from a year earlier and struggled to decisively break past the $95,000 level, which has emerged as a key resistance zone since an October selloff wiped out nearly a third of its value.
After rebounding during a broader New Year rally, Bitcoin briefly climbed to just under $94,800 on Monday before losing momentum. It was trading around $90,200 in New York on Friday afternoon.
Market participants are closely tracking developments in Washington, including decisions on tariffs, leadership at the Federal Reserve and the future course of cryptocurrency legislation. The lack of clarity has left Bitcoin in a holding pattern. According to Bloomberg, the US Supreme Court did not deliver an anticipated ruling on the legality of tariffs imposed by Donald Trump, adding to the sense of uncertainty.
“We’re seeing classic post-rally consolidation after Bitcoin’s strong start to 2026,” said Jake Ostrovskis, head of over-the-counter trading at Wintermute.
Stronger-than-expected macroeconomic data has also dampened hopes of aggressive interest-rate cuts, limiting Bitcoin’s upside toward its all-time high of over $126,000 reached in October. “Macroeconomic data have generally come in stronger than expected, modestly reducing the probability of a March rate cut and likely adding further near-term pressure on prices,” said James Butterfill, head of research at CoinShares, according to Bloomberg.
Despite the lack of upward momentum, market participants say Bitcoin’s ability to hold above key levels points to underlying resilience. “Bitcoin stabilising around $91,000 while traders await clarity on U.S. tariff policy highlights how resilient the market has become after the recent rally,” said Avinash Shekhar, co-founder and CEO of Pi42. He added that selling pressure has so far failed to push prices decisively lower, suggesting the market is absorbing supply rather than breaking down.
“This consolidation phase is critical because it determines whether the move above $90,000 was a temporary spike or a structural shift,” Shekhar said, noting that sustained defence of current levels could quickly bring the $100,000 mark back into focus, while a failure could trigger renewed bearish momentum.
Broader crypto markets have also remained range-bound. According to the CoinDCX Research Team, Bitcoin briefly moved above $91,000, while Ethereum held above $3,100 and XRP stayed above $2.12. Solana outperformed among major tokens, touching $140, even as Cardano slipped below $0.40. Global crypto market capitalisation fell below $3.2 trillion, with overall sentiment remaining neutral.
Among smaller tokens, JasmyCoin led gains with an over 11% jump, followed by Polygon and Tezos, while Zcash posted a double-digit decline. The research team also pointed to several policy and regulatory developments, including the US derivatives regulator issuing a no-action letter to Bitnominal and Florida lawmakers reintroducing a proposal for a state-backed cryptocurrency reserve. According to Polymarket predictions, there is a 29% chance of Bitcoin reaching $100,000 in January 2026.
For now, investors appear content to wait, with Bitcoin consolidating near $90,000 as macro signals and policy cues shape the next decisive move.
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January 10, 2026, 08:34 IST
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