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Join it. Anyways you will be on probation for few months. Try looking for new offers while on probation.
You can wait till Feb end, As usual market always up from starting of Jan onwards, but this year started at last week (Jan end). Better ask them offer extension and try better options.
Don't stretch, join the company. Currently market is not in good condition better settle for this and once market correction, try switch back to required. Hold the nerve for now.
When is your last date with your current company? HR always downgrade us if we are not in a payroll.
Your last date is now over. So any HR would wantedly downgrade your CTC. Don't tell them you were searching for jobs these days. Just tell that you wanted to take a short break.
Join the company . U dont have any option