Today, the price of Bitcoin settled around $91,000, as Asian markets opened comparatively higher and traders aligned the upcoming catalysts, the US nonfarm payrolls report and a potential Supreme Court ruling on President Donald Trump’s tariffs.
The Shanghai market witnessed a 0.58% rise, the SZSE Component gained 0.36%, and Hong Kong’s Hang Seng saw a 40% gain to 26,254.50. However, China A50 fell 0.16%, indicating a more careful tone in large caps.
The crypto market was treated in a similar way as the prices moved in a tight band after a volatile start to 2026, with a move toward a wait-and-see stance before macro headlines.
A senior market analyst, Linh Tran, mentioned that the current data moves towards a situation in which Bitcoin consolidates with a carefully upward bias instead of setting its foot into a deep bearish reversal. She mentioned that the consolidation range of BTC for the rest of this month can possibly fluctuate between $88,000 and $95,000.
The Global Market
On the global scale, Japan and Australia opened higher, but South Korea somewhere slipped. The S&P closed majorly flat on January 8, with prominent technologies such as Nvidia being sold, even as defence stocks advanced after Trump asked for an enlarged $1.5 trillion military budget.
Treasury futures surged and mortgage-supported securities improved after his announcement of the purchase of $200B of mortgage bonds. Furthermore, money markets priced in at least two quarter-point Fed cuts this year, keeping the dollar backed and leaving risky assets trading with a tighter hold.
Apart from this, the dollar held on to gains from the previous session, oil elongated its advance as investors tracked developments in Venezuela and Iran, silver withdrew further from this week’s record and gold showed no difference. Fitch increased its US growth outlook to 2.1% in 2025 and is speculating 2% growth this year.
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India Flags Crypto Risks, Cites Tax Enforcement Challenges
