BTC lost its two-day rebound on Wednesday and briefly fell below $90,000 on Thursday before moving back toward the $91,000 area. That level remains a key short-term support zone, but repeated tests since Wednesday have kept pressure on the market. The report says BTC has also dropped back below its short-term descending trendline, leaving room for more downside if selling continues.
ETH has held up better, staying above $3,100 and showing stronger price action than BTC. Even so, the article notes that if BTC breaks decisively under $90,000, the rest of the market is unlikely to avoid being dragged lower as well.
Binance meme coin spot listings revive the “list then dump” trade
Market chatter also centered on two newly listed spot meme coins on Binance, “Binance Life” and “I’m Here.” The article links the listings to the meme coin heat seen in early January, but says the market response once again reflected a familiar pattern: traders have grown used to selling into listings, and prices failed to hold up.
That behavior is described as one of the market’s bigger structural problems. No matter how strong a token narrative looks, many participants now assume a listing is mainly an exit opportunity for short-term traders. That expectation weighs on prices and makes it harder for momentum to last.
Payroll data is due, but Middle East developments may matter more
US nonfarm payroll data is scheduled for release later today. The report says traders can expect volatility around the number, much like the reaction seen around the earlier ADP employment reading.
Still, the article argues that Middle East tensions may carry more weight for near-term direction. Media reports in recent days have said the US is stepping up military deployments in the region and could launch action against Iran over the weekend. At the same time, Polymarket has seen betting activity on whether Israel will strike Iran within January, prompting speculation over possible insider-driven positioning. If the situation worsens, risk assets could come under fresh pressure.