As of January 22, 2026, U.S.-listed spot Bitcoin ETFs recorded four days of net outflows totaling $1.62 billion, with daily redemptions peaking at $708.71 million on January 21. BlackRock's IBIT led withdrawals while BTC traded below $90,000, as basis trade yields slipped under 5% and CME futures open interest fell behind Binance.

On January 23, 2026, gold traded near $4,983, about 1.5% higher over 24 hours and closing in on $5,000, while silver advanced alongside it. Bitcoin reclaimed $90,000 and hovered around $91,000 as traders monitored the recurring lead–lag pattern in which strength in gold has often preceded BTC momentum. The setup remains constructive unless gold shifts into a sustained correction.

U.S. spot Bitcoin ETFs registered a fourth consecutive session of net withdrawals on January 22, with daily flows decreasing by $32.11 million and no fresh capital entering the funds. Total historical net inflows across these products still stand at $56.60 billion, while BlackRock's IBIT and Fidelity's fund jointly accounted for most of the latest outflow. Bitcoin's price has remained under pressure in this period, trading near $88,785 with recent negative daily performance.

On 23 January 2026, on-chain data indicated that GameStop transferred its entire Bitcoin position to Coinbase Prime after buying approximately 4,710 BTC between 14 and 23 May 2025 for around $504 million. With Bitcoin trading near $90,800, a sale at current prices would lock in losses of roughly $76 million and is seen as symbolically important for how markets judge corporate BTC timing, even though the position is too small to significantly impact liquidity.

On January 23, Bitcoin rose 0.29% day over day to $89,139, while CoinStats indicated sellers had the upper hand late in the week. A failed move around $88,548 keeps focus on a possible drift toward $88,000 if no rebound appears by day's end, with $88,000-$91,000 consolidation favored and $85,225 in view next month if pressure persists.

On January 23, 2026, UBS was reported to be preparing to let select private-banking clients trade Bitcoin and other cryptocurrencies. The move, by a firm with roughly $6.9 trillion in assets under management, would begin with a limited rollout centered on Bitcoin before potentially expanding access to additional digital assets.

The gap between long- and short-dated US government bond yields has reached its widest level since 2021, raising concerns about Bitcoin's performance heading into 2026. Strategists warn that Japan's record 30-year yield and gold's recent strength, alongside higher long-term Treasury rates, could weigh on high-beta assets such as BTC around key price levels.

According to projections attributed to ChatGPT, Bitcoin could trade between $95,000 and $120,000 on February 1, 2026, implying notable upside from the current level near $89,000. The model also outlines a downside scenario toward $75,000–$90,000 and a less likely bullish path as high as $150,000, while flagging near-term uncertainty over whether BTC can hold above $90,000 after a weekly drop of more than 6%.