'Trump dump' risks pulling Bitcoin prices down to $88,000

Bitcoin failed to recover after dropping $5,000 in just one day, with the likelihood of BTC testing the $88,000 level now deemed "very likely".

$BTC dropped below $96,000 on January 8 as the on-site sell-off pushed BTC prices to a "critical" level.

BTC prices are sharply declining with the $88,000 mark being “very likely”

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as prices fell an additional 1.7% on the day.

This, combined with current losses, has caused the pair to drop over $5,000 due to new concerns about the macroeconomic situation in the United States.

Spot sellers have taken control, with the CryptoQuant chain analysis platform warning of increasing "pressure" on the global exchange Binance.

“Hourly net trading volume on Binance today has turned significantly negative, signaling a notable increase in selling pressure,” contributor Darkfost reported in one of the Quicktake blog posts.

“It peaked at -$325 million, the highest level since 2025, during the release of ISM PMI and JOLTs Job Openings data, indicating unfavorable results for risk assets.”