Bitcoin is doing that thing again where it climbs back above a psychologically important round number. Thursday afternoon saw Bitcoin (BTC) reclaim the $90,000 level as cryptocurrency markets take a breather after their energetic start to the year.

Here's where the major cryptocurrencies are trading:

What's Moving in Crypto

The volatility is keeping things interesting. Coinglass data reveals that 132,723 traders got liquidated in the past 24 hours, washing out $455.54 million in leveraged positions. That's what happens when markets move sideways after a strong rally—people get caught leaning the wrong way.

Not everyone's suffering though. Over the past day, JasmyCoin, Bittensor and Lighter emerged as top gainers, riding whatever momentum they could find in an otherwise consolidating market.

Recent Developments Worth Watching

Ethereum (ETH) pushed above $3,100, though some analysts are spotting bearish signals beneath the surface. Meanwhile, Bloomberg strategist warnings suggest Bitcoin could potentially drop to $50,000 in 2026 if equity market volatility persists—a reminder that crypto doesn't trade in isolation from broader markets.

XRP (XRP) is up 12% over the past week, but technical indicators are battling against ETF outflows. The tug-of-war between positive price action and negative fund flows makes for an interesting setup.

On the regulatory front, Kalshi CEO voiced support for a US bill banning insider trading on prediction markets, noting "we already implement it." It's one of those statements that makes you wonder what prompted the need for clarification.

Bitwise outlined three conditions needed to extend the rally across Bitcoin, Ethereum, and XRP. And in a sign that traditional finance continues warming to digital assets, Morgan Stanley announced plans to launch a digital wallet supporting tokenized assets in 2026.

What Traders Are Saying

Michael van de Poppe is seeing constructive signals in Bitcoin's price action. The cryptocurrency is holding its 21-day moving average, forming a higher low, and attracting steady buying interest. If daily closes continue holding current levels, he suggests a retest of $94,000 is likely. Break through that resistance, and the path to $100,000 opens up again.

Daan Crypto Trades offered helpful context for anyone frustrated by the current choppiness. Early-year Bitcoin price action, he notes, typically features false breakouts and unclear trends. The pattern usually resolves into something more decisive around weeks five to seven—so we're basically in the muddy middle right now.

KillaXBT acknowledged that Bitcoin bounced from its range but emphasized the need for follow-through to reclaim the daily open. He's watching for a potential short-term dip toward $90,500. A sustained break below that level would raise concerns about a deeper decline toward the 2026 yearly open—a technical level that matters more than it probably should, but that's how markets work.

The overall message from traders: Bitcoin's bounce looks decent, but confirmation is everything. Watch those key levels, because the next move could set the tone for the weeks ahead.