Bitcoin is under significant downward pressure as markets react to US political uncertainties. A sharp fall of $5,000 in a single day portends a possible test of $88,000 in the coming weeks, analysts say.
A dark day for Bitcoin
On January 8, a wave of massive sales shook the crypto market, causing bitcoin to plunge below $96,000. This correction occurs in a particularly tense context on the American markets, marked by the publication of unfavorable economic data, in particular the ISM PMI and JOLTs Job Openings indices. The Binance platform recorded a record negative net volume of -$325 million for 2025, reflecting exceptional selling pressure.
CryptoQuant analysts quickly sounded the alarm, pointing to a growing “pressure” on spot markets. The situation is all the more worrying as sellers appear to have taken total control of the market, as evidenced by the massive accumulation of sell orders on the main exchange platforms.
Renowned trader Skew identifies the $95,000 level as crucial for further events. His analysis reveals a significant concentration of liquidity between $92,000 and $88,000, suggesting possible stabilization at these levels if the correction continues.
“ Right around the 1D lows ($92,000-$88,000), supply liquidity was significantly boosted by increased demand », he detailed in his last publication on X.
Trump's shadow looms over the crypto market
The short-term outlook for bitcoin seems closely linked to the American political context, particularly as Donald Trump's inauguration approaches. Analysts anticipate a period of increased volatility in the next 2-3 weeks, with consensus forming around a possible test of $88,000.
However, some experts like Josh Rager remain optimistic, citing the possibility of a rebound as early as next weekend. This more positive vision is based in particular on CryptoQuant's on-chain data, which shows underlying demand still robust, as illustrated by the apparent demand indicator analyzed by Ki Young Ju, the CEO of the platform.
Selling pressure on exchanges is also showing signs of running out of steam, which could limit the extent of future corrections. This technical data suggests that the market could find solid support before reaching the most pessimistic levels mentioned by some analysts.
The situation nevertheless remains delicate, and the coming days will be decisive in establishing whether this “Trump dump” will actually materialize up to $88,000, or whether the market will find the strength to rebound sooner than expected.
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