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09.01.202610:12 Forex Analysis & Reviews: BTC bottom under formation

Bitcoin staged a solid recovery yesterday, climbing toward the $91,000 area, though further upside remains constrained. Much will depend on the behaviour of large market participants, because the absence of fresh bullish catalysts could undermine prospects for further gains.

Exchange Rates 09.01.2026 analysis

Meanwhile, an interesting report from JPMorgan caught attention. Bank analysts say the outlook for the crypto market looks increasingly optimistic despite recent turbulence. Slowing outflows from Bitcoin and Ethereum ETFs are an important sign that investors are returning to digital assets after a period of uncertainty. That shift directly improves market liquidity and creates conditions conducive to renewed upside.

The end of the sell?off that began in late 2025 suggests that most investors who wanted to realise profits or exit positions have already done so. The lack of panic selling and the stabilisation of prices point to a restoration of confidence. Notably, the correction was driven by profit-taking rather than by underlying fundamentals, which is a constructive signal.

Confirmation of a bottom on CME futures adds to the growing sense that the worst may be behind the market. CME futures are a key instrument for institutional investors, and their activity often serves as a leading indicator of market sentiment. A trough in that market suggests large players are adopting a more constructive stance toward cryptocurrencies.

January may therefore mark a trend reversal. If the positive trends highlighted by JPMorgan persist, the crypto market could resume an upward trajectory in the coming months. Traders should monitor developments carefully and weigh both the opportunities and the risks associated with digital assets.

Trading recommendations:

Exchange Rates 09.01.2026 analysis

Bitcoin: Buyers are targeting a return to $91,300, which would open a direct path to $93,200 and then to $95,000. The further objective is the peak near $97,400. A break above that level would indicate attempts to restore a bullish market. On the downside, buyers are expected at $89,600. A slip below that area could quickly push BTC toward $87,400, with a further target near $85,500.

Exchange Rates 09.01.2026 analysis

Ethereum: Clear consolidation above $3,154 would open a direct route to $3,229, with a farther target near $3,297. Breaching that level would strengthen bullish sentiment and renew buyer interest. If ETH falls, buyers are anticipated at $3,072. A move below that zone could rapidly send ETH down to about $2,997, with a longer target near $2,887.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

Typically, a crossover or price test of these moving averages either halts market momentum or sets a new directional impulse.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Jakub Novak,
Analytical expert of InstaSpot
© 2007-2026
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