Onchain data from 2024 and 2025 shows that Bitcoin long-term holders with coins dormant for at least two years have revived more supply than in any prior cycle. Analysts note that this wave of selling, which intensified once BTC passed $40,000 and continues into early 2026, differs from the 2017 and 2021 bull markets because it involves significantly older coins and less speculative momentum. They suggest Bitcoin may be entering a new phase marked by a shift in who holds BTC and for what reasons.

On January 22, 2026, SkyBridge Capital founder Anthony Scaramucci said at the World Economic Forum in Davos that he remains cautiously optimistic on Bitcoin and the wider crypto market despite recent volatility. He reiterated a prior projection that Bitcoin could climb to $170,000 by late 2025 and now wants to see the asset revisit the $125,000–$150,000 range, while also expressing a positive view on upcoming US legislation on stablecoins and digital asset classification.

On Jan. 21, Bitcoin bounced back above $90,000 after briefly touching $87,304 earlier in the session, following Donald Trump's announcement that tariffs planned for Feb. 1 would not go ahead. The move coincided with a sharp rotation out of gold and silver and triggered over $1 billion in liquidations across crypto derivatives, highlighting Bitcoin's sensitivity to macro headlines and heavy leveraged positioning.

On January 20, 2026, Blockstream CEO Adam Back said a Bitfinex whale has been buying about 450 BTC per day near $90,000, roughly $40.6 million at recent prices. Glassnode's Week On-Chain set support around $81,100 and short term resistance near $98,400, warning of dense supply above $100,000 and downside risks below $90,000.

Nomura's subsidiary Laser Digital has introduced the Bitcoin Diversified Yield Fund SP, a natively tokenised Cayman-domiciled Bitcoin yield vehicle targeting institutional and eligible accredited investors. The strategy combines long-only BTC exposure with market-neutral arbitrage, lending and options to pursue more than 5% net outperformance over Bitcoin across rolling 12‑month periods, while prioritising capital preservation.

On Jan. 21, Glassnode reported that Bitcoin’s onchain structure remains fragile, with BTC trading between the True Market Mean at $81,100 and the short-term holder cost basis at $98,400. The firm cautioned that a dense supply overhang above $100,000 and a Risk Index reading near the High Risk zone could prolong consolidation, while recent spot Bitcoin ETF outflows of $708.7 million suggest continued institutional de-risking.

Speaking at the Reuters Global Markets Forum during the World Economic Forum, SkyBridge Capital founder Anthony Scaramucci set a hoped‑for Bitcoin target of $125,000 to $150,000. He said his late‑2025 $170,000 call missed due to policy delays, as Bloomberg reported the U.S. market‑structure bill may slip to late February or March. He also cautioned that Bitcoin’s price is hard to predict.

On January 15, Bitcoin's Fear & Greed Index stood at 61; six days later it plunged to 24, signaling extreme fear, according to Alternative. The indicator, built from market cap dominance, trading volume, volatility, Google Trends, and social media inputs, previously sprinted from 26 to 61 in two days as BTC moved above $97,000. Bitcoin dipped below $88,000 before rebounding to $90,200.