2026-01-02 14:26:20

On the first trading day of 2026, Bitcoin fluctuated between $88,000 and $89,000. On Wednesday evening, it briefly surged to $89,000, then quickly dropped back to $87,000, and at the time of writing, it was quoted at $88,820. Bulls and bears are fighting fiercely, and neither side has fully gained the upper hand.

Recently, the Federal Reserve's meeting minutes were quite interesting—although officials have decided to cut interest rates, there are differing opinions internally about the future direction. Some advocate for holding steady after this round of cuts and waiting for economic data; others, while not explicitly saying so, have different ideas in their eyes.

However, investors are seeing clearly: once the rate cut cycle begins, the cost of capital decreases, and risk assets become more attractive. Bitcoin, in particular, is usually the first to benefit.

From the four-hour chart structure, this wave of the market started rising around 84,550, reaching a peak of 90,558. Currently, the price is oscillating within the Fibonacci retracement zone of 0.236-0.382. Specifically, 0.236 is near 89,130, 0.382 around 88,235, 0.5 at 87,513, and 0.618 at 86,720. The current price is around 88,800, essentially consolidating sideways between 0.236 and 0.382. This is fundamentally a strong correction, not a downtrend.

The Bollinger Bands indicate that the market is currently in a mildly bullish consolidation phase, with upward testing still ongoing.

BTC1.69%

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Colin5202

· 4h ago

Hold on tight, we're about to take off🛫

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ApeWithNoFear

· 5h ago

88800 this position is just waiting for the Fed's next move. With rate cut expectations rising, it's a certainty that this thing will push upward. --- Still swinging between 0.236 and 0.382. If I had known earlier, I would have bought the dip at 87500. Now I regret it. --- The internal disagreements within the Federal Reserve indicate that no one truly understands the upcoming strategy. So, let's follow the rate cut logic. Risk assets are naturally aligned with this. --- Bull and bear forces can't suppress each other. Honestly, the bulls can't break through 90600, and the bears don't dare to break below 87000. Both are testing the bottom line. --- Oh my, this tug-of-war has my heartbeat almost matching the K-line rhythm. When will we see a decisive victory? --- Honestly, this kind of strong rebound is actually the most comfortable. It’s much less psychologically stressful than a straight drop. I’m holding steady at 88800. --- The Bollinger Bands are still leaning strong and want to go higher. 89500 should be a good resistance level. We'll see if it breaks through then.

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NervousFingers

· 5h ago

88800 this position is just dancing around, neither bulls nor bears have fully understood each other --- When interest rate cuts start, risk assets go crazy, Bitcoin always runs the fastest --- Honestly, internal Fed disputes make the market feel more at ease --- Strong rebound, not bearish; the Bollinger Bands still show an upward tendency --- If 89000 can't be broken, we have to wait; 88235 is the real support level --- Already causing trouble at the market open, there are more exciting things to come --- Fibonacci 0.236 to 0.382 repeatedly bouncing, a typical accumulation move --- Interest rate cuts lower the cost of funds, and the logic that Bitcoin becomes more attractive is sound --- I bet the range from 87000 to 89000 will break upward; I don't believe this pullback --- The Fed holding steady is just a show; the market has already priced it in

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WalletDoomsDay

· 5h ago

88800 is the position where we are waiting for the Fed's next move. Once the rate cut expectations emerge, risk assets will have to follow suit. This sideways movement, don't panic, it's just a strong correction. The upper band of the Bollinger Bands hasn't been broken yet. There is quite a fierce internal fight within the Fed, but ultimately, it's good for risk assets. Bitcoin is the first to benefit—that's the rule. Whether 89130 breaks or not is a watershed. If it breaks, continue testing 90558; if not, we will just grind back and forth here. The rate cut cycle has started, and the cost of capital has decreased. Is there anyone more attractive than risk assets? Below 88000, there is no significant support. We need to see if 86720 can hold. These Fibonacci levels are quite tight. Now, it's just a matter of patiently waiting for the trend to develop.

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