Bitcoin (BTC) slipped toward the $90.000 mark amid thin liquidity and a pullback across altcoins, driven in part by ETF outflows and macroeconomic caution. Traders saw prices oscillate on Jan. 8 as market participants weighed lower volumes against a still-large market capitalization.
Price feeds diverged but painted the same trend. CoinMarketCap listed BTC at $89.854,62, while CoinDesk reported $93.007,11, with an intraday band roughly between $89.850 and $93.000. Reports noted a dip below $91.000 on Jan. 7 that reached near $90.000 before partial recovery.
Exchange-traded fund outflows were flagged as a primary selling pressure, compounded by broader macro concerns such as payroll data and geopolitical uncertainty. Lower liquidity—described in market commentary as “thin trading”—amplified moves in altcoins, producing larger percentage swings when BTC wobbled.
Data points from major price feeds and sentiment gauges show a mixed picture: prices around low $90k while aggregate crypto market cap contracted, signaling a cautious market tone.
Bitcoin drivers and market impact
Altcoin performance was uneven: many tokens followed BTC lower in the initial slide, but some showed relative resilience in limited trading windows. The pullback trimmed short-term gains for traders who had positioned for a broader altseason rotation.
Market sentiment gauges reflected the cautious stance. “Neutral,” according to the Crypto Fear & Greed Index, which registered a score of 43/100, underscoring a move away from the recent exuberance documented in late 2025.
For trading desks and treasuries, the environment raises practical concerns: reduced depth increases execution costs and slippage for large orders, and ETF flow volatility can rapidly alter funding conditions in perpetuals and spot venues.
Short-term derivatives metrics were not uniform in the source data, but commentators highlighted that funding and open interest dynamics will be key to watch if volatility persists—because perpetuals tend to magnify moves when liquidity thins.
Investors are now watching ETF flows and upcoming macro releases more closely; payroll and other macro readings will likely set the tone for the next trading sessions, while ETF net flows will determine whether BTC can stabilize above $90.000. Market participants will treat those data points as the immediate test for whether this pullback is corrective or the start of a deeper retracement.
