Bitcoin nears $90,000 as Tom Lee predicts 2x increase by end of January

Bitcoin price is still flirting with the $90,000 level as the asset remains undecided and cannot rise due to the $94,000 level from late November. BTC is down a fraction of a percentage in the past 24 hours, trading at $90,336 as of midnight Eastern.

As BTC faces indecision around $90,000, Tom Lee of Fundstrat remains positive on Bitcoin. According to Lee, the digital asset could rebound by the end of January, thanks to better liquidity, increased institutional involvement and clearer regulatory frameworks.

TOM LEE SAID #BITCOIN STILL GOING TO $180,000 IN THE NEXT 21 DAYS

HERE WE GO 🚀 pic.twitter.com/EdgnS1impk

– Vivek Sen (@Vivek4real_) January 9, 2026

Lee also sees the increased use of BTC ETFs (exchange traded funds) as a catalyst, contributing to a move towards widespread adoption and not just speculative trading.

This comes even as US spot BTC recorded its fourth day of outflows, totaling $250 million, while Fidelity’s FBTC recorded the only positive value of around $7.9 million, according to Coinglass data.

Bitcoin has maintained a consistent range between $85,000 and $90,000 since early December 2025. BTC previously peaked at $126,000 in early October, but then faced downward pressure amid global financial uncertainty and reduced institutional activity during the holiday season.

Where does BTC go from here?

Bitcoin Price Analysis: BTC Risks Drop Below $89,000

After experiencing a recovery momentum from the start of the new year, the BTC Price fell over the last 4 candles as the asset saw bearish pressure in the $94,000 area.

On the daily chart, Bitcoin is trading well above the 50-day simple moving average (SMA), indicating that the price remains bullish in the near term as investors hold above $90,000.

Meanwhile, the price is well supported by the key 0.382 and 0.5 Fibonacci retracement levels at $89,015 and $87,340, respectively.

The Relative Strength Index (RSI) is also consolidating in the 50 zone, currently at 50.99, signaling a tug-of-war between bears and bulls.

Based on BTC/USD daily chart analysis, BTC price could fall further to $89,389 (50-day SMA), but this level serves as strong support. This scenario shows that investors remain cautious about any slight movement.

If this bearish pressure persists, Bitcoin is likely to fall below $89,000, with the .382 and .5 Fib levels serving as immediate support.

However, if the 50-day SMA remains strong, Bitcoin price could rise further in the long term, with $94,660 and $98,898 as the next target zones on the Fibonacci chart.

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