Despite the macro environment facing renewed pressure, the Bitcoin market still shows certain structural resilience. As of January 2026, based on on-chain data, the crypto market continues to emit classic accumulation signals. In terms of market sentiment, the cryptocurrency fear and greed index has rebounded by about 30 points since late November 2025, currently returning to a neutral zone, while the total market capitalization of cryptocurrencies has remained stable around $3 trillion for a long period, indicating no obvious signs of capital withdrawal. Overall, Bitcoin (BTC) has been oscillating around $90,000 in recent weeks, with the price trend suggesting a potential bottoming structure is forming. Historically, January tends to be a relatively strong period for Bitcoin, which also leaves room for the market to imagine challenging the $100,000 mark later. However, new macro disturbances are adding uncertainty to this outlook.