Here is the latest market analysis for Bitcoin and Ethereum as of January 23, 2026:

Current Prices
Bitcoin (BTC) approximately $89,000 -0.01%, narrow fluctuation around $90,300,
Key resistance level $90,600
Key support levels $88,500, $87,000
Market sentiment: Panic
Ethereum (ETH) approximately $2,945–$2,957
-2.26%–2.33%
Key resistance levels $3,000, $3,050
Key support levels $2,900, $2,850
Weak consolidation

1. Funding pressure: Bitcoin and Ethereum spot ETFs have experienced net outflows for several consecutive days, indicating strong short-term risk aversion among institutions.
2. Technical signals:
If Bitcoin falls below the $88,500 support, it may test $87,000.
If Ethereum loses the $2,900 level, it could trigger a large number of long liquidations, accelerating the decline toward $2,850.
3. Macro factors: The surge in Japanese government bond yields has raised concerns about global financial risks, combined with year-end liquidity shortages, which may amplify market volatility.

Short-term outlook

Bitcoin and Ethereum are currently in a “downtrend continuation” pattern, and close attention should be paid to whether they can hold the key support levels tonight.
If volume-driven breakdown of support levels occurs, short-term downside risk is significant;
Conversely, breaking through resistance levels (Bitcoin $90,600, Ethereum $3,050) could ease current selling pressure.

This information is for reference only. Market volatility is intense; please make cautious decisions. #黄金白银再创新高 #特朗普取消对欧关税威胁 #GateWeb3正式升级为GateDEX #RIVER一个月暴涨50倍