Bitcoin Price Drops Below $90K as Expert Flags a ‘Wait-and-See’ Phase

Key Takeaways:

• Bitcoin slipped below $90,000 as market sentiment weakened and buyers stayed on the sidelines.
• Ongoing geopolitical tensions and renewed uncertainty around Trump’s tariffs are adding pressure to BTC.
• Experts say the market is stuck in a “wait-and-see” phase, with neither buyers nor sellers showing conviction.
• ETF outflows and structural weakness in altcoins suggest capital is concentrating in Bitcoin, but without strong momentum yet.
• Repeated failed attempts near $98,000 show that selling pressure remains strong on rallies, keeping rebounds fragile for now.

Bitcoin (BTC) opened the week with a drop. Market sentiment shifted quickly. Just last week, some investors were still talking about a possible move toward $100,000. This week changed that mood. Bitcoin lost its support near $90,000.

Several factors are weighing on Bitcoin’s price. One of them is the rhetoric from Donald Trump around Greenland. Tensions have been building. That conflict has now spilled over into tariffs as well.

After some countries openly opposed Trump’s push to bring Greenland under US control, he announced a new 10% tariff package targeting them. This added another layer of uncertainty to the market.

Trump’s tariffs are back on the agenda. They never really left, but recent developments put them back in focus. In January, the US Supreme Court held several sessions where investors expected clarity on whether the president has the authority to impose tariffs on this scale.

No decision was made. That lack of clarity has left Bitcoin, and the broader crypto market, in a suspended state.

‘Buyers Aren’t Confident Enough Yet to Step In Aggressively’

David Dobrovitsky, CEO of Dobrovitsky Strategic Advisory, told Cryptonews that the market is effectively stuck. Neither side is showing conviction. As a result, Bitcoin remains trapped in a narrow range:

Bitcoin and the broader crypto market are stuck in a wait-and-see phase, consolidating around $89,000–90,000 after the recent drop rather than breaking down or bouncing hard. Selling pressure has cooled, but ‘buyers aren’t confident enough yet to step in aggressively,’ so liquidity and momentum remain muted.

Dobrovitsky adds that the weakness is not limited to short-term price action. In his view, many altcoins have lost value in a more structural way:

At the same time, years of uncertain and thin liquidity have led to a structural devaluation of many altcoins, with capital concentrated in BTC and a small set of resilient projects while the long tail continues to fade.

This shift has pushed more capital toward Bitcoin. But it has not translated into strong buying pressure yet.

ETF data tells a similar story. Institutional players appear cautious and focused on risk reduction. According to CoinGlass, Bitcoin ETFs recorded outflows of nearly $709 million on Jan. 21. That was the largest single-day outflow since Nov. 20, 2025, when outflows reached $903 million.

Bitcoin Price Tried to Move Higher, but Failed

Over the past few weeks, Bitcoin made several attempts to recover toward $100,000. BTC climbed to $98,000. Sellers stepped in quickly. That reaction was expected. Since then, Bitcoin has been stuck in a tight range. Each bounce runs into selling pressure from investors who bought earlier and are now looking to exit at breakeven. Because of this, rebounds look fragile and risky.

Analysts at Glassnode have described the current setup as a “moderate bear phase.” According to their data, the market has been oscillating for some time between support near $81,100 and the average cost basis of short-term holders.

There is no sign of panic selling. But every upside attempt runs into supply from investors who accumulated during the first three quarters of 2025 and are now using rallies to reduce exposure.

For now, Bitcoin remains in limbo. The market is watching and waiting.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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