Bitcoin stalls below $90,000 as institutional demand wanes

Bitcoin failed to reclaim levels above $90,000 on Jan. 23, undermining investor confidence and deepening bearish sentiment, BlockBeats reports. Georgii Verbitskii, founder of non-custodial Web3 platform TYMIO, said short-term weakness is linked to lack of interest from large institutions at current prices, with geopolitical uncertainty pushing investors toward more defensive positioning. Surf co-founder Ryan Li noted that even previously strong altcoins are under pressure, citing Avalanche's roughly 66% decline since last September despite collaborations with institutions such as JPMorgan and WisdomTree. Verbitskii added that gold has become a key focus for major haven flows, leaving Bitcoin sidelined, and described this as a repricing away from being a top-choice asset rather than a panic-driven structural shift.