Bitcoin was trading at $89,236, up 1.2% from the previous day, as of 8:00 a.m. on Jan. 28. Bitcoin market dominance stood at 52.61%, underscoring its leadership even in a consolidating market. Major altcoins rose as well, with Ethereum at $3,019 (up 3.11%), reclaiming the $3,000 level; XRP at $1.91 (up 0.96%); SOL at $127 (up 2.25%); and BNB at $899 (up 2.34%).
Analysts said the rebound followed a technical oversold condition after yesterday’s slide, with renewed buy-side interest. Bitcoin found support in the high-$80,000 range around $88,000, which some say helped stabilize sentiment. However, many caution that a trend reversal has not yet been established.
Analysts expect Bitcoin to test the $90,000 level in the near term, with price action likely to oscillate. Altcoins have rallied, but without sustained buying, gains may prove to be a technical rebound.
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