January 29 News, Bitcoin price rebounded to nearly $90,000 ahead of Wednesday’s FOMC meeting, but selling pressure above remains evident, preventing a successful breakthrough. Currently, BTC hovers between $86,000 and $90,000, with market focus on whether the $90,000 to $93,000 range can turn into effective support.
On-chain and technical data indicate that Bitcoin’s short-term structure is converging. Crypto India co-founder Aditya Singh pointed out that the 100-week moving average around $87,500 is an important support level; if it is lost, a test of the $86,000 region may occur again. Meanwhile, the 50-day moving average near $90,000 forms the first resistance, while the 100-day moving average around $94,000 is a key level for bulls to break through.
Analyst Jelle believes that the recent downtrend has been broken, with signs of a low point on the weekly chart rising. If the price re-establishes above $93,000, it will send a stronger bullish signal. AlphaBTC also mentioned that there is a significant liquidity concentration around $93,400, which may lead to short-term consolidation. However, once volume breaks out, the target could move toward the $98,000 region.
Institutional fund flows are also closely watched. Glassnode data shows that the 30-day moving average of spot Bitcoin ETF capital flows in the US is gradually approaching neutrality, indicating that previous selling pressure is weakening. Nevertheless, the market still mainly relies on the confidence of spot holders rather than new institutional buying. If subsequent funds turn into net inflows, it will significantly boost upward momentum.
In terms of corporate holdings, Strategy led by Michael Saylor continues to increase its positions. The company bought an additional 2,932 BTC last week, bringing total holdings to 712,647 BTC, demonstrating that large institutions remain optimistic about long-term value.
Against the backdrop of a complex macro environment and fluctuating policy expectations, Bitcoin is at a critical turning point. If the $93,000 level is successfully broken and stabilized, the market may enter a new upward phase; otherwise, the price could continue to oscillate within the high range.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin long-term holdings increased to 12.4 million coins, and the 30-day change has remained positive.
CryptoQuant analyst Darkfost says the Bitcoin market is entering an early stabilization phase, with stronger long-term holding behavior. The amount of BTC held for more than a year has increased, and investors are more inclined to hold than to distribute. This suggests the market is transitioning toward long-term conviction; the current trend is viewed as an early stability signal, but it needs longer-term confirmation.
GateNews1m ago
Bitcoin Halving Two-Years Anniversary: Annual inflation rate drops to 0.85%, officially becoming a rarer asset than gold
The Bitcoin halving in April 2024 lowered its annual inflation rate to 0.85%, for the first time below gold’s 1.5–2%. Bitcoin’s scarcity comes from code rules: supply will gradually decrease, and another halving is expected again in 2028. This halving cycle witnessed increased participation from institutional investors, strengthening Bitcoin’s position as digital gold.
ChainNewsAbmedia36m ago
Bhutan Reduces Bitcoin Stash From 13000 BTC to Under 4000 in 18 Months
_Bhutan cuts Bitcoin holdings from 13,000 BTC to 3,954 BTC in 18 months, with $215.7M transferred out and mining inflows declining_
Bhutan has reduced its Bitcoin holdings over the past 18 months, based on new blockchain data.
Arkham data shows a steady decline in the country’s reserves since
LiveBTCNews53m ago
'Not Going to Stop at Bitcoin': Morgan Stanley Weighs Tokenization, Tax Solutions in Crypto Push
In brief
Amy Oldenburg, head of digital-asset strategy at Morgan Stanley, sees a tokenized money-market fund as a natural path forward for its crypto roadmap.
What’s more, the investment bank with $9.3 trillion in client
Decrypt1h ago
Crypto analyst Murphy: The current difficulty of trading BTC in the short term is extremely high—sharing my personal trade records and risk management strategies
Bitcoin’s short-term trading difficulty is increasing. Analyst Murphy recommends adopting a DCA (dollar-cost averaging) strategy over the next six months, with a win rate approaching 100%. He emphasizes the need to distinguish between investing and trading, avoid wishful thinking, follow the long-term trend, and strictly adhere to short-term trading discipline.
GateNews2h ago
