Bitcoin price: Quickly reverses direction
As of 6:23 PM today (January 8), Bitcoin - the world's largest electronic currency - according to market value reversed to decrease by 1.63%, reaching 90,352.83 USD.
This new price contributed to the market capitalization fluctuating, trading at 1,804 billion USD, down 64 billion USD. In the opposite direction, trading volume in 24 hours reached 41.89 billion USD, up 15.36 billion USD.
Perspectives and forecasts
Bitcoin's recent price recovery quickly weakened, as the largest cryptocurrency in the market soon returned to the price range at the beginning of January after a short increase. The sudden reversal raised concerns about the fragility of the market.
The inability to maintain higher price levels reflects the prolonged uncertainty about whether the recent jump really marked the process of escaping the previous downward trend or just a temporary technical recovery in a wider downward trend.
The short-term capital price model of investors holding continues to be an important measure in market transitions. Last December, Bitcoin formed a fragile balanced state near the bottom of this model, close to the -1 standard deviation band. That position shows high price reduction sensitivity and weak confidence from the group of investors buying recently.
Derivatives data shows significant potential risks. The liquidation chart records a large concentration of buying positions around the 86,200 USD mark, with about 2.13 billion USD of leverage position value being "hanging" here.
If Bitcoin prices fall into this area, mandatory liquidation orders may trigger a chain sell-off effect. Such events often cause prices to fall faster due to leverage being removed and market sentiment deteriorating.
This increases the risk of price declines in weakening periods. Although liquidation clusters can act as "magnets" to attract prices, they are also very volatile zones. A bust in this area is likely to spread fear throughout the market.
In the opposite direction, a positive scenario remains. If buying power returns and Bitcoin rises from the 90,000 USD mark, and at the same time surpasses the resistance zone of 91,511 USD, market momentum may reverse.
In Vietnam, the cryptocurrency asset market has been piloted from September 9, 2025, the pilot implementation period is 5 years.
However, organizations and individuals participating in the cryptocurrency asset market must comply with relevant legal regulations on preventing and combating money laundering, terrorist financing, financing the dissemination of weapons of mass destruction, electronic transactions, network information security, network security, data protection to ensure security and safety in the cryptocurrency asset market and other relevant specialized laws.
