Bitcoin Falls Below $90,000 as $93,000 Resistance Looms Ahead of Fed Meeting

Bitcoin slipped back into the $86,000–$90,000 range on Jan. 29 after its rebound stalled near $90,000, BlockBeats reports. Analysts identified $93,000 as the key bullish level, with major resistance at the 50-day moving average near $90,000 and the 100-day moving average around $94,000; a sustained break above $93,000 could target $98,000 and signal the end of the correction. Glassnode data show 30-day average net flows of spot Bitcoin ETFs have returned toward neutral, indicating easing institutional selling pressure, while Capriole data show corporate Bitcoin buying has dropped sharply, with Strategy (formerly MicroStrategy) purchasing 2,932 BTC for about $264 million last week as almost the sole buyer. A decisive move above $90,000 hinges on a recovery in institutional demand and a return to net ETF inflows, analysts say.