January 9th Digital Asset Morning Analysis

From a technical perspective, short-term bearish momentum suddenly strengthened, but this seems more like a shakeout by the main players— the long-term bullish pattern on the larger cycle has not been truly broken. Before the two major events—non-farm payroll data and trade policy implementation— the market is likely to oscillate repeatedly, making a clear direction unlikely. As long as key support holds, the rebound momentum is still there.

Yesterday's movement was indeed a bit fierce: BTC broke below the 90,000 level, and ETH also failed to hold the 3,180 mark. This wave of decline directly wiped out $416 million worth of long positions. From the daily MACD perspective, it is still above the zero line, but the trend is clearly weakening. However, the long-term trend on the larger cycle has not reversed, so this drop is more like a mid-term adjustment rather than a trend reversal.

In the coming trading days, US non-farm payroll data and tariff rulings will be the watershed. The market is currently oscillating around rate cut expectations; before these two data points are released, sideways consolidation at lower levels will be the norm—don't expect any sharp rallies or crashes.

Institutionally, the outlook remains optimistic: some major institutions predict BTC could reach 150,000 by 2026 and surge to 200,000 in 2027. The staking fundamentals for ETH have always been solid, and this correction can actually be seen as an opportunity for accumulation.

Trading reference: For BTC, consider buying on dips around 91,000-90,500, with targets in the 92,000-93,000 range; for ETH, support is around 3,100-3,080, with resistance at 3,150-3,180.