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Crypto Market Slumps as Bitcoin Price Drops Below $91,000 Amidst Risk Off Sentiment

Crypto Market Slumps as Bitcoin Price Drops Below $91,000 Amidst Risk-Off Sentiment

Bitcoin and Ethereum edge lower as traders turn cautious ahead of key macro events and policy signals.

Written by Rahul Dhingra, Edited by David Delima | Updated: 8 January 2026 15:14 IST

Crypto Market Slumps as Bitcoin Price Drops Below $91,000 Amidst Risk-Off Sentiment

Photo Credit: Unsplash/Kanchanara

Bitcoin trades lower as cautious sentiment keeps crypto markets under pressure

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Highlights

Bitcoin dips below key level as risk appetite weakens
Altcoins slide alongside equities in a cautious market
Analysts see consolidation rather than a deeper breakdown

Bitcoin traded lower on Thursday, as the cryptocurrency market saw a gradual decline following recent rallies across major digital assets. The world's largest cryptocurrency dipped below the $91,000 (roughly Rs. 82 lakh) level and was priced around $90,300 (roughly Rs. 81.30 lakh), as softer trading volumes and a broader risk-off tone weighed on sentiment. Ethereum (ETH) traded near $3,100 (roughly Rs. 2.8 lakh), while several large-cap altcoins also eased, mirroring weakness across equity markets. According to analysts, the movement appears to be corrective rather than structural, and long-term positioning metrics suggest that selling pressure may have largely eased. Bitcoin is priced near Rs. 80.80 lakh in India, while Ethereum trades around Rs. 2.79 lakh, as per the Gadgets 360 price tracker.

As traders responded to declining momentum and a number of expected macro triggers, market sentiment remained cautious. Although Bitcoin has fallen below short-term reference levels, analysts pointed out that there is no obvious cause for a more serious breakdown. Attention has shifted to the US jobs report and a Supreme Court ruling on global tariffs, which have kept risk appetite restrained despite steady ETF inflows and easing inflation continuing to support the broader crypto outlook.

Consolidation Keeps Altcoin Participation Selective

Altcoins tracked Bitcoin lower as the pullback spread across the broader market. XRP fell 4.6 percent to trade near $2.11 (roughly Rs. 190), while Solana (SOL) slipped 2 percent to around $135 (roughly Rs. 12,150). Dogecoin (DOGE) hovered near $0.14 (roughly Rs. 12.6), and Binance Coin (BNB) stands at $884 (roughly Rs. 79,500).

Bitcoin Holds Firm Near $94,000 as Macro Signals Support Crypto

Explaining the current market structure, Avinash Shekhar, Co-Founder and CEO of Pi42, said, “ What's notable is that despite the downtrend, there is no clear structural trigger for a deeper collapse, and long-term positioning metrics suggest that selling pressure may be largely exhausted. The increase in open interest points to renewed engagement rather than wholesale exit, and this dynamic can serve as a foundation for stabilisation.”

Sharing a technical view on near-term price action, Riya Sehgal, Research Analyst at Delta Exchange, said, “The crypto market declined on Thursday as bitcoin fell toward $90,000 (roughly Rs. 80.96 lakh) and Ethereum traded near $3,150 (roughly Rs. 2.83 lakh), while most major altcoins also slipped [...] Stablecoins stayed steady, reflecting rotation within crypto rather than broad exits. Both Bitcoin and Ethereum need to reclaim short-term resistance to resume upward momentum.”

Commenting on positioning and liquidity trends, Vikram Subburaj, CEO of Giottus, said, “ ETF flows remain mixed. The broader macro factors are diverting liquidity toward equities and precious metals. Risk appetite remains cautious as investors await key catalysts such as the January 9 US jobs report and progress on the CLARITY Act. Treat this as a range-bound phase.”

According to these analysts, if critical price ranges hold, the pullback may be a pause rather than the beginning of a deeper drawdown, even though near-term volatility may continue around important support and resistance levels due to the lack of heavy distribution and ongoing investor activity.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Cryptocurrency Prices across Indian exchanges

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Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More