Bitcoin, Can it Break Out of the Short-Term Downtrend... $98,000 Threshold

2026-01-21 01:22:18

Source: DigitalToday Original Title: Can Bitcoin Break Free from Short-Term Downtrend… 98,000 USD Critical Level Original Link: https://www.digitaltoday.co.kr/news/articleView.html?idxno=622674

Bitcoin is under short-term downward pressure, and analysts say that recovering the 98,000 USD level is essential to break through this trend.

According to blockchain media, the short-term holder’s net unrealized profit/loss (STH-NUPL) indicator has remained in a loss state since November 2025. This indicates that the confidence of short-term investors is weakening, which is delaying market recovery. Historically, when Bitcoin recovers the purchase price of short-term holders, the upward trend continues, but currently, the inability to surpass 98,000 USD continues to exert selling pressure.

The downside risk in the market remains high. Industry analysts warn that “geopolitical uncertainties are intensifying, and Bitcoin could fall below 90,000 USD.” They predict that unless strong buying support emerges around 88,000 USD, further declines are likely.

In particular, they note that “Bitcoin has so far rebounded slightly and surpassed 93,000 USD, but it’s not a level to be complacent about,” adding that “we should also watch for potential position exits by ETF holders when the US market opens.”

Meanwhile, long-term holders continue to accumulate Bitcoin, providing market stability, but the momentum for upward movement is weakening due to a decline in short-term speculators. Currently, Bitcoin is holding above the 38.2% Fibonacci retracement level at 90,914 USD, and a rebound from this point could lead to a recovery to 94,000 USD. However, with the 90,000 USD support level broken, technical analysis suggests the possibility of larger additional declines.

To overcome the short-term downward pressure on Bitcoin, defending technical support levels and attracting buying interest are crucial. If the market fails to break through 98,000 USD, further adjustments could be likely.

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