BTC Market from Greeks Data: The Current State of the $90,000 Battle

Data from the platform “Greeks.Live,” which utilizes Greeks indicators used in cryptocurrency market analysis, reveals that the current Bitcoin market is at an interesting juncture. As of late January 2026, with BTC trading around $89,300, conflicting views coexist within the trader community, indicating that the overall market is maintained on a delicate balance.

Trader Caution Regarding Technical Levels

Market participants are divided on how strong the upward move beyond $90,000 can be. Some cautious traders mention the difficulty of breaking through this level and are increasingly concerned about the possibility of the market entering a correction phase. Behind these views lies the current situation of downward pressure caused by liquidity shortages earlier this year and ongoing selling pressure from long-term position holders.

Of particular note is that volatility has dropped to historically low levels. This limited range of price movement is causing market participants to adopt a dual mindset: waiting for the next major move while simultaneously strengthening risk management.

Market Structure Indicated by the Options Market: The Importance of the $86,000 Level

Looking at the options market structure, it is clear that the support level at $86,000 is the most watched point among traders. This level has been repeatedly tested over the past five weeks, and many traders are building their position strategies based on this benchmark.

Currently, there is a large accumulation of short positions in weekend-expiry put options with strike prices around $86,000. How this price zone moves will significantly influence short-term market sentiment. As BTC approaches this support level, trader caution tends to increase further.

Preparing for Multiple Scenarios: Trader Strategy Development

Among traders, strategies for various scenarios are being developed concurrently. For example, some are considering selling put options that expire on January 2, 2026 (already past, but referenced historically), at a strike of $93,000, or planning to form weekend-expiry positions when BTC reaches $88,000.

This layered strategic approach strongly suggests that market participants perceive the current environment as “not deterministic, with multiple possibilities coexisting.” Instead of relying on a single outlook, the investment stance derived from Greeks data emphasizes preparing for multiple scenarios, which most accurately reflects current market psychology.

Market Outlook: Balance Between Liquidity and Price Movement

Future market developments will depend on how much liquidity recovers from the beginning of the year and to what extent trader sentiment eases previous caution. The current picture indicated by Greeks data suggests that the market is in a strategic equilibrium, with the range between $90,000 and $86,000 likely serving as an important preparatory phase for forming larger trends.