January 27 News, Bitcoin, after experiencing a rapid correction, has entered a technical adjustment zone, but market structure indicates this is more of a controlled pullback rather than a trend reversal. The current price hovers around $88,000, and trading behavior aligns more with the “shakeout” characteristic of a mid-term bullish trend rather than panic selling.
On-chain data shows that recent declines were mainly driven by short-term traders exiting, while more patient funds are quietly accumulating. The proportion of Bitcoin supply in profit across the network has dropped from 75.3% to 66.9%, breaking below the critical historical threshold of 69.1%. Past cycles suggest that when the profit ratio falls below this level, selling pressure tends to ease, making it easier for the price to establish new support at lower levels.
Meanwhile, the behavior of long-term holders also signals a bullish bias. The LTH NUPL indicator is approaching 0.60; once it falls below this level, long-term investors typically stop taking profits and shift to a wait-and-see or re-accumulation phase. In previous bull markets, such changes often laid a stable foundation for the next rally.
From a technical perspective, Bitcoin remains within an ascending wedge pattern and has rebounded from the lower boundary. The key short-term target for bulls is to recover $89,241 and firmly stay above $90,000. If this zone is effectively broken, short-term momentum will significantly strengthen, and the price could challenge $98,000, forming a new support zone around $95,000, laying the groundwork for a push toward $100,000.
Of course, risks still exist. If the macro environment worsens or selling pressure re-emerges, Bitcoin could fall further below $87,210, potentially retesting around $84,698, which would undermine the current bullish structure and delay the upward pace.
In the context of intensified bulls and bears competition, the $88,000 to $90,000 range is seen as a key strategic zone. If this area can establish a solid demand zone, the path toward $100,000 for Bitcoin will become clearer.
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