Overview
- Bitcoin briefly fell to roughly $89,300–$89,600 on Jan. 8–9 before rebounding back above $90,000.
- U.S. spot Bitcoin ETFs logged a three‑day outflow streak through Thursday of about $935 million, including roughly $399 million on Thursday, reversing early‑January inflows.
- Derivatives data show elevated open interest near 700,000 BTC and persistently positive funding rates, pointing to crowded longs and higher liquidation risk.
- CoinGlass reported about $128 million in long positions were liquidated during the drop, underscoring how leverage is amplifying short‑term swings.
- Shifting Federal Reserve rate‑cut expectations and fresh labor data weighed on risk appetite, while several analysts characterized the pullback as a healthy retracement rather than a structural break.