BTC’s pre-FOMC push on Wednesday halted at $90,000, keeping price confined to the $86,000–$90,000 band since Jan. 20. Analysts say momentum could improve if $93,000 is reclaimed as support, with resistance clustered near the 50-day and 100-day SMAs at $90,000 and $94,000. ETF flow stability may further aid a break toward $98,000.

Bitcoin hovered below $90,000 on Wednesday as traders awaited the FOMC decision and Jerome Powell's remarks. Market odds favored no rate change, while key BTC support sits at $80,000–$84,000, with potential downside toward $65,500 if that area fails.

Bitcoin fell below $87,000 and reached a five-week low near $86,000, while the Coinbase Premium Index slid to a 12-month trough around -0.17, signaling heavier US sell pressure. Technicals point to a measured downside toward $66,800, with $93,000 now a level to reclaim and US spot ETFs recording about $1.72 billion in five-day outflows.

Ether briefly reclaimed the $3,000 mark but weakening demand and negative spot ETF flows suggest sellers may still be in control. Analysts highlight the $2,800–$3,000 zone, where around 9 million ETH were accumulated, as critical support, warning that a confirmed bear flag breakdown could send price toward $1,850. If this area holds, clustered buy orders and institutional interest could still offer a base for a rebound.

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.

Bitcoin holds near the $90,000 support as miner-based Hash Ribbons and the Fear and Greed Index issue buy signals, pointing to improving sentiment. Analysts note a recent crossover in sentiment gauges and a recovery from miner capitulation, while traders watch the $90,000–$92,000 range for confirmation of trend direction.

XRP dropped below $2 after six straight declines, while Bitcoin hit $92,000 and Ether tested $3,000. Despite $1.28 billion in cumulative spot ETF inflows and a six-month high in XRP Ledger transactions, price weakness persisted. The pair now tests support around $1.96, with key levels at $1.80, $1.75, and $1.61.

ETH fell 7% after a $3,400 rejection last week but stayed above $3,000. ValidatorQueue shows a 44-day entry queue with more than 2.6 million ETH, while Capriole Investments and SoSoValue indicate renewed accumulation by treasuries and spot ETFs. Glassnode data highlights a $3,100–$3,170 cost-basis shelf that bulls aim to defend.

Bitcoin traded about 9.5% above its Jan. 1 open at $87,500 as it hovered around $95,000, with traders focused on the $98,000 short-term holder cost basis as a key inflection level. Analysts highlighted support at the 21-day moving average near $91,200 and an ascending triangle setup targeting roughly $113,200 if resistance between $96,000 and $99,500 is cleared. Technical signals such as a multi-year trendline bounce, RSI recovery and a MACD cross were seen as underpinning expectations for further upside, provided bulls can maintain the current market structure.