Crypto Market News Today, January 8: BTC USD Follows Trend Line As Ethereum Price On Split Line
Honestly, the crypto is feeling on purpose as BTC USD drops back to below $91,000, as the drop itself is increasing, and in some way it means where the market is right now. After the pre-year rally of 8% positive, BTC USD is holding its ground. However, Ethereum follows as it holds above the $3,100 price level, as it finally printed a red candle after six straight days of green.
All this may sound bearish on paper, but in reality, this relaxation is necessary. As inflation in the US drops to 2.7% and we begin to price the possibility of a rate cut by the Federal Reserve, both BTC USD and Ethereum price remain heavily tied to high expectations.
The sentiment is not on the bullish side yet, with the Crypto Fear and Greed Index sliding to 28 fear from 40 neutral. At the same time, institutions are keeping their spending spree going, which is rarely the case at market peaks.
Crypto Chart of Fear and Greed
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Does BTC USD Hold Its Structure?
Yesterday, January 7, Trump-linked World Liberty Financial applied for an American banking license. A day ago, Morgan Stanley became the first major bank to go ahead with listing a Bitcoin ETF.
World Liberty Financial Announces that WLTC Holdings LLC has submitted an Application for a National Trust Bank Charter to Issue and Hold USD1 Stablecoins 🦅☝️
– WLFI (@worldlibertyfi) January 7, 2026
Bullish?
If you don’t, hear me out. BTC USD has bounced back above the diagonal trend line that has stalled price action for almost six months. That same line served as support and resistance during the second half of last year. In the last six weeks, BTC USD has reprinted high lows between $81,000 and $94,000, a structure that shows that sellers are losing control, most of the time.
(source – BTC USD, TradingView)
That said, the $94,000 to $95,000 range is still one to watch. BTC USD has not fully taken off yet, and until that happens, the sideways movement should not be surprising. Integration at the highest levels is imposing.
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Ethereum Heavy Rotation as Bitcoin Price Catches?
The price of Ethereum is where things get interesting. Recent declines have taken out recent long positions, resetting momentum. On-chain data shows that Ethereum is surpassing the network hitting a new high of 32,950 transactions per second in all its layers, with more than 2 million transactions in the last 2 days.
(source – Etherscan)
If you look at the big picture, the price of Ethereum remains about 35% below the peak of 2021, and this kind of disparity rarely lasts forever. The charts also suggest that momentum is strengthening.
The rotation continues. When BTC USD sells above the previous price drop, the main currency tends to circulate, and Ethereum tends to start in line. If Ethereum clears the $4,850 level, then we can talk about altseason euphoria.
Markets have a tendency to frustrate as many people as possible. Currently, BTC USD looks stable and in range, as Ethereum looks undervalued in terms of price, and sentiment needs to turn above neutral.
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