Bitcoin is consolidating below $90,500 after a dip to $87,200 and a minor bounce. According to the hourly BTC/USD chart (Kraken data feed), a break and close above $90,300–$91,500, near the 50% Fib of the $95,475–$87,200 move, could open upside toward $92,300 and $93,000, while support lies at $89,000 and $88,200.

On 23 January 2026, Bitwise Asset Management introduced the Bitwise Proficio Currency Debasement ETF (BPRO) on the New York Stock Exchange, blending bitcoin with gold and other precious metals. The actively managed fund targets capital appreciation by holding assets that may benefit when fiat currencies lose purchasing power, with at least 25% of the portfolio required to be in gold.

Bitcoin has traded below $91,000 since Tuesday while funding rates hover around 7%, implying traders are cautious about adding leveraged longs. Options flow around long straddles and iron condors and rising long-to-short ratios at Binance and OKX suggest whales expect an accumulation phase near $89,500. A sustained move toward $95,000 appears to hinge on institutional demand returning after $1.58 billion exited spot Bitcoin ETFs over the past two days.

Strategy (Nasdaq: MSTR), formerly MicroStrategy, has for the first time lifted its preferred stock balance of $8.36 billion above its total convertible debt of $8.21 billion, marking a key shift in its capital structure. Analysts say the move toward preferred equity, which has no fixed maturity, reduces bankruptcy-linked risk as the firm continues expanding its Bitcoin holdings and could support MSTR’s long-term stock performance.

On January 22, 2026, Kansas legislators introduced Senate Bill No. 352 to authorize the state treasury to establish a strategic reserve of Bitcoin and other qualifying digital assets. The proposal defines how these assets would be acquired, held, and governed, treating them as long-term reserve property rather than speculative trading instruments.

Prosecutors in Gwangju are investigating the disappearance of a significant amount of Bitcoin seized in a prior criminal case, after an internal audit indicated the assets were missing. Officials suspect a phishing incident tied to a wallet password kept on a USB drive during storage, and have not disclosed the amount or valuation.

Technical analysis shared by CryptoBullet on X compares Bitcoin's recent price structure with a 2022 fractal, noting a sharp 28.7% retrace from the October 2025 peak and a move back under $90,000 after failing to hold above $97,000 on January 14. The projection suggests Bitcoin could stage one more rally above $100,000 around February 2026 before potentially rejecting at the 50-week moving average, provided support above $83,000 remains intact. If the 2022 pattern continues to play out, the mid-term outlook could turn bearish with a later drop below $71,500, though the fractal is described as a guide rather than a guarantee.

On January 22, 2026, a local TV report said more Las Vegas businesses have begun accepting Bitcoin payments. Owners cited lower costs—card processing fees can range from 2% to over 3% per transaction—plus faster settlement and fewer chargebacks, with Lightning or direct wallet transfers enabling near‑instant transactions.