Macro analyst Michaël van de Poppe says gold’s momentum has driven its RSI above 91, a threshold last seen in December 1979 and higher than August 2020. He notes that after the 2020 spike, gold consolidated while Bitcoin advanced about 5–6x, prompting debate over whether a similar setup could unfold.

On Thursday, Bitcoin slid back under $90,000 and traded around $87,700 after the Federal Reserve's first 2026 decision to leave interest rates in the 3.50%–3.75% range. The broader crypto market value hovered near $3.11 trillion, with Ethereum retreating toward $3,000 as traders weighed rate-cut timing, shifting flows into gold and silver, and heavy leverage that could trigger liquidations between $75,000 and $105,000.

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.

On 29 January 2026, Japan-based Metaplanet outlined a plan to raise $137 million to purchase additional Bitcoin, reinforcing its shift toward a Bitcoin-centric treasury model. The firm already holds 35,102 BTC and is positioning the asset as a long-term reserve rather than a vehicle for short-term trading. Around the same time, Bitcoin was trading near $87,700, in what analysts described as a corrective phase within a broader uptrend, with key support seen in the $86,000–$87,000 range.

In a Thursday filing, Metaplanet outlined an offshore capital raise of up to $137 million via new common shares and stock acquisition rights. According to the filing, proceeds will fund additional Bitcoin purchases, its Bitcoin income business, and a partial repayment under an existing credit facility. Both instruments will be sold privately to overseas investors.

On January 27, the FOMC held its first meeting of the year, and US lawmakers face a January 31 government funding deadline. During the final week of January, Bitcoin's volatility increased, trading in a $86,000–$93,000 band after retracing from its October 2025 peak near $126,000. Some investors are also evaluating Bitcoin Everlight, a transaction-layer system designed to operate without altering Bitcoin's core protocol.

Samson Mow, CEO of JAN3 and long‑time Bitcoin advocate, has aligned himself with an X user's forecast of an "Omega candle" that could raise BTC by $100,000. He maintains a longer‑term view that Bitcoin can reach $1,000,000, while author Robert Kiyosaki recently said selling part of his Bitcoin and gold holdings to buy a house was a big mistake and continues using real estate income to accumulate crypto.

Institutions increasingly treat Bitcoin volatility as manageable, with liquidity now the core execution risk. Market depth at 1% and refill dynamics, alongside intraday cycles, drive costs, while ETFs and stablecoins shape flows. With 30% drops near round numbers, timing and structure matter more than price swings.