Bitcoin Dips Below $90K. Did the Rally Just Fizzle Out?

The Battle For $100K Is on as 2026 Brings in New Hope for BTC Bulls

The first few days of 2026 started on the right foot for Bitcoin, with the OG coin rallying from roughly $87K to just shy of $95K. The altcoin market performed just as well, if not better, with Ripple’s XRP leading the charge and climbing from $1.80 to $2.40.

The spot crypto ETFs started to pump again, with Bitcoin ETFs seeing over $1 billion in combined inflows in just 2 days (January 2 and January 5), according to Coinglass data. However, what many believed to be the start of Crypto Summer in winter quickly turned into yet another failed attempt to break a major resistance. Bitcoin bulls were rejected at $94,500 for the third time in a short while, and altcoins gave up a large portion of the gains made since the beginning of 2026.

That being said, at the time of writing, Ripple’s XRP is still up 14% over the last 7 days, and Bitcoin is up 3% over the same period. So we can’t say it’s all bad, at least we can see some signs of recovery and maybe a bottom, especially if the current pullback does not pierce through the $88K – $86K zone of support.

It’s very important to note that we are rapidly approaching January 15, which is the date when the U.S. Senate Banking Committee will vote on the market structure bill. Also known as the Digital Asset Market Clarity Act, this bill is a stepping stone for crypto and aims to introduce clearer regulations. If it passes, it would be celebrated as a major crypto victory and would open the door for broader adoption. This would normally come with higher prices for Bitcoin and altcoins, but nothing is certain.

Chart Analysis – BTC/USD

Since the beginning of 2026, Bitcoin has started to show some liveliness, with bulls mostly in control. However, we have three failed attempts to break above $94,500 resistance, and this could spell trouble for BTC. The last few days have been bearish, and this raises the question: Is this the last pullback before a new leg of the uptrend, or is it just another sign of weakness?

In a bullish scenario, the first step for BTC would be to break $94,500 and to close a daily candle above it. However, the more important hurdle is $100K. If Bitcoin can rally above this major milestone, then we can talk about uptrend resumption and possibly new All-Time Highs in 2026.

On the other hand, if the pair prints a lower low (below $85K), then brace for lower prices. Keep in mind that the U.S. Non-Farm Payrolls (NFP) report is still due today and that it may influence the overall crypto market.