As of January 28, 2026, BTC is currently trading at approximately $88,000. The recent market has experienced a deep correction, retracing about 10% from the January high of $97,930. Technically, the psychological barrier of $90,000 has turned into a strong resistance after being breached, and the daily moving averages are showing a death cross, indicating short-term downside risks remain. The key support levels are seen in the $85,000 - $86,000 range.

On the macro front, the strength of the US dollar index and geopolitical volatility have suppressed the performance of risk assets. Although institutional long-term accumulation remains, retail investor sentiment is currently in the "extreme fear" zone. If the price can hold above $88,500 during the day, a small-scale rebound may be initiated; otherwise, if it falls below $85,000, it could test $82,000.