#密码资产动态追踪 1月8日市场速评：

Bitcoin today presented a hair-raising K-line chart — the price repeatedly tested around $91,000, with a 24-hour decline approaching 3%, and even touched a low of $90,800 intraday, directly breaking through the morning support level of $93,000. The signs of short sellers devouring the market are becoming increasingly obvious.

What's the main driver behind this? Capital outflows. Data shows that spot ETF net outflows today reached $583 million, creating the second-highest record since last year. Among them, FBTC and IBIT, the two mainstream products, contributed nearly $400 million of outflows, demonstrating how quickly institutional investors collectively took profits and market sentiment shifted. Combined with the Federal Reserve's latest rhetoric intensifying inflation concerns, the macro environment suddenly tightened, causing short-term traders to also engage in panic selling — those with positions held less than 155 days rushed to exchanges to dump, creating a stampede effect.

Technical signals are also less than optimistic. Both the 2-hour line and 30-day moving average have been broken through, with short-side momentum continuing to accumulate. However, the 120-day moving average (around $90,700) is currently providing support, barely holding the psychological $90,000 level. The current pattern is $93,000 forming resistance above and $90,000 being the last line of defense below. Once it breaks through, it will likely probe toward support near $84,500. Interestingly, approximately 70% of retail traders still maintain a bullish stance, forming a sharp contrast with institutions' large-scale withdrawal — a clear two-sided matchup effect.

Two key points to monitor going forward: First, can $90,000 hold firm? Second, how will U.S. non-farm employment data perform this weekend? If non-farm data comes in weak, it may ease market concerns about rate hikes, giving $BTC a chance to breathe; conversely, if data is strong, short-term pressure will persist. Operating suggestions: Spot holders can add positions after the $90,000 level stabilizes, while futures traders should decisively avoid heavy long positions — the recent lesson of 230,000 liquidations is still fresh. Waiting patiently for rebound signals to appear before moving will be more reassuring.

Monitor the linked performance of mainstream coins like $ETH and $BNB.