#密码资产动态追踪 Market Quick Review for January 8:

Bitcoin today exhibited a remarkably volatile candlestick pattern—price repeatedly tested around $91,000, with a 24-hour decline approaching 3%. During the session, it even dipped to $90,800, breaking through the support level at $93,000 this morning. Signs of a bearish sell-off are becoming increasingly evident.

What is the main driving force behind this? Capital outflows. Data shows that the net outflow of spot ETFs today reached $583 million, the second-highest since last year. Among them, the mainstream products FBTC and IBIT contributed nearly $400 million in outflows. The collective cashing out by institutional investors indicates a rapid shift in market sentiment. Coupled with the Federal Reserve’s latest statements reinforcing inflation concerns, the macro environment has suddenly become tense, causing short-term traders to panic sell—those holding positions for less than 155 days are rushing to liquidate on exchanges, creating a stampede effect.

Technical signals are also not very optimistic. Both the 2-hour chart and the 30-day moving average have been broken, with short-term bearish momentum continuing to build. However, the 120-day moving average (around $90,700) is still providing support, barely holding the psychological $90,000 level. The current pattern is that $93,000 above acts as resistance, while $90,000 below is the last line of defense. A breakdown is likely to lead to a test of support around $84,500. Interestingly, about 70% of retail investors remain bullish, forming a stark counterbalance to the large-scale institutional withdrawals.

Key points to watch moving forward: First, whether $90,000 can hold steady; second, how the US non-farm payroll data performs this weekend. Weak non-farm data could ease market fears of rate hikes, giving $BTC a breather; conversely, strong data may prolong short-term pressure. Trading advice: spot holders can wait for $90,000 to stabilize before adding positions; contract traders should resolutely avoid heavy long positions—recently, 230,000 traders got liquidated, a lesson still fresh. Patience and waiting for rebound signals before acting will be more prudent.

Monitor the performance of main cryptocurrencies like $ETH, $BNB, and others.