Bitcoin fell below $96,000 on January 8, triggered by a spot sell-off that pushed BTC to a critical level. It recorded a loss of 1.7% in one day, compounding over $5,000 in previous declines. Increased selling pressure was noted on the Binance exchange, with net taker volume hitting a peak of -$325 million, the highest this year. Traders pointed to $95,000 as a key short-term price to watch, with potential liquidity interest around $88,000. Some analysts predict a dip to this level over the next 2-3 weeks, anticipating movements coinciding with President-Elect Donald Trump's inauguration. Conversely, others see a possibility for a price rebound by the weekend, considering the market's historical trends. The CEO of CryptoQuant highlighted solid demand behind Bitcoin, suggesting apparent demand is returning, potentially limiting downside risks from market sell-offs.

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