Bitcoin continues to fluctuate around the key level of $90,000 on January 10th. The market is currently in a wait-and-see mode, mainly because investors are awaiting two important decisions — the U.S. Supreme Court's ruling on tariff policies (delayed until January 14th) and the Federal Reserve's subsequent policy stance. Due to better-than-expected U.S. economic data, market expectations for a Fed rate cut have been dampened, putting noticeable pressure on risk assets like Bitcoin.

In terms of price performance, Bitcoin traded narrowly between $90,500 and $91,000 this morning, showing a lack of clear direction overall. Although there was a rebound after touching the $89,200 support level yesterday, it failed to break through $91,000 effectively, indicating that the upward momentum remains relatively weak.

Looking at the strength comparison between bulls and bears, there are several points worth noting in support of the bullish side. First, the $89,200 level (close to the 50-day moving average) continues to receive buying support, and the $90,000 psychological level is being tested repeatedly, indicating strong absorption capacity in this area. Second, many analysts believe that the current pullback is just a normal correction after the early-year rally and does not signal a trend reversal. Some institutional views are more optimistic, suggesting that with macroeconomic improvements and increasing institutional holdings, Bitcoin could potentially surge toward the target of $102,000 in the future.