Bitcoin slipped below $90,000 as traders braced for a double catalyst: the U.S. unemployment report and a Supreme Court ruling tied to tariffs. At the same time, a separate weekly framework circulating on X suggests a relief rally remains possible if momentum continues to recover.
Bitcoin Slips Below $90,000 Ahead of Key U.S. Data and Court Decision
Bitcoin fell back below the $90,000 level on Jan. 9 as markets turned cautious ahead of two closely watched U.S. events scheduled later in the day. Price weakness unfolded during the European session and extended into early U.S. hours, reflecting a broader risk-off tone across crypto markets.
On the 30-minute BTC/USDT spot chart from Bybit, Bitcoin showed a clear short-term downtrend. Price continued to post lower highs and lower lows after failing to hold rebounds near the $91,500–$92,000 area. Sellers regained control during the latest leg down, pushing Bitcoin to around $89,900 at the time of the chart snapshot. The structure suggests fading momentum after several failed recovery attempts since Jan. 7.
Bitcoin USDT Spot 30 Minute Chart. Source: TradingView Bybit / X
Market attention is now centered on the U.S. unemployment report, due at 8:30 a.m. ET. Labor data often acts as a trigger for volatility across risk assets, including crypto, because it shapes expectations around Federal Reserve policy. A stronger-than-expected report could reinforce the case for tighter financial conditions, while weaker data may revive rate-cut expectations later in the year.
From a technical perspective, Bitcoin’s failure to reclaim the $90,500–$91,000 zone keeps short-term pressure intact. The recent bounce attempts lacked follow-through, and price slipped back toward the lower end of the week’s range. As a result, traders appear hesitant to take aggressive positions ahead of the day’s events.
Overall, Bitcoin’s dip below $90,000 reflects caution rather than panic. Price action suggests markets are waiting for confirmation from U.S. data and legal developments before committing to a clearer directional move.
Bitcoin relief rally framework stays intact on weekly chart
Bitcoin continues to follow a longer-term structure on the weekly BTCUSDT Binance chart that Titan of Crypto says has remained valid for months. The chart plots price against a smooth red trend line that has acted as a cycle guide, with several historical turning points forming when candles met that curve and then reversed.
Bitcoin TetherUS Weekly Chart. Source: TradingView Binance / X
Earlier sections of the chart show similar behavior. After extended pullbacks, Bitcoin rebounded toward the red line, paused, and then either rolled over or continued depending on momentum conditions. These repeated reactions form the basis of the relief rally framework shared earlier, which still appears respected by current price action.
Momentum signals come from the Stoch RSI panel at the bottom. The indicator recently dipped into a low region highlighted in green, matching previous cycle lows that preceded short-term rebounds. In those past cases, momentum recovery supported upside relief moves while the broader trend remained intact.
The framework highlights the red line area as the next key decision zone. That region has historically acted as resistance or support during trend transitions. As a result, the setup suggests that direction becomes clearer once price either reclaims the curve or fails near it, keeping the relief rally scenario in focus without signaling a confirmed trend shift.
Source: https://coinpaper.com/13637/bitcoin-wobbles-under-90-k-as-u-s-jobs-data-looms-and-weekly-relief-rally-setup-holds
