Bitcoin experienced a pullback on the evening of January 8th. As of 23:00, the price was at 90,402 USD, with a 24-hour decline of 2.12%. During this adjustment, the intraday high reached 92,847 USD, and the low touched 89,640 USD. The global market capitalization remained stable around 1.81 trillion USD, with undiminished 24-hour trading activity and a transaction volume of 44.25 billion USD.

The main drivers of the market adjustment come from two aspects. First, sentiment fluctuations—recently, leverage liquidation pressure was released, with 137,800 positions forcibly liquidated in this downward move, resulting in total losses of 465 million USD. This cascading liquidation effect further accelerated the short-term decline.

From a technical perspective, 90,000 USD remains a key support level, and holding this round number is important. On the upside, 92,000 USD becomes a recent resistance level. However, from a medium-term perspective, the bullish structure remains intact with no signs of being broken. The current recommendation is to remain observant, or establish light positions at lower levels, waiting for clearer directional signals to emerge.