Strive said Wednesday it has retired 92% of the liabilities assumed in its Semler Scientific acquisition and purchased 333.9 BTC after completing its Variable Rate Series A Perpetual Preferred Stock offering. Strong demand lifted the raise to $225 million from a $150 million target. The company's holdings now total 13,132 BTC, with $110 million of inherited debt already repaid.

Bitcoin briefly spiked to $90,600 on Wednesday before retreating after the US Federal Reserve left interest rates unchanged, underscoring the market's macro sensitivity. Traders are now watching the $93,500 level, where over $4.5 billion in short positions could face liquidation and potentially trigger a sharp upside move. However, negative Coinbase premiums, risk-off indicators, and neutral whale activity point to fragile momentum driven mainly by leverage rather than strong spot buying.

Bitcoin bulls have kept the price above the $80,700–$83,400 support area, while derivatives data points to a potential liquidity sweep around $93,500. On-chain metrics from Glassnode indicate that a lasting BTC uptrend is unlikely until liquidity-sensitive indicators, especially the 90-day realized profit/loss ratio, move back into a historically strong zone. With over 22% of supply held at a loss and Binance inflows hovering near 2020 lows, analysts see reduced immediate selling pressure but warn that a deeper correction remains possible if support fails.

On Jan. 27, ProCap CIO and Bitwise adviser Jeff Park warned on X that Bitcoin’s muted options pricing and thin month‑to‑date activity make upside traction unlikely without a material rise in volatility, citing ~38 IV. He pointed to silver’s Jan. 26 surge—14% in the most‑active futures and outsized SLV volumes—as a template for sudden, disorderly moves.

Deribit reports that heavy Bitcoin options activity and concentrated open interest around key strikes are helping to confine BTC's price near $90,000. The exchange notes that traders are favoring hedged and structured positions over outright leveraged futures as a major Jan. 30 options expiry approaches.

Bitcoin attempted a rebound above $89,500 but failed to hold over $90,000, slipping back toward support. It is trading above $88,200 and the 100-hour SMA, with rising channel support near $88,100; a break below $88,000–$87,500 could deepen losses. Resistance stands at $89,150 and $89,800, with potential targets at $90,250 and $91,200.

On Jan. 13, Strive completed its acquisition of Semler Scientific and has now used proceeds from a preferred stock sale to retire $110 million, or 92%, of the debt it assumed. The firm also purchased about 334 Bitcoin, taking its holdings to 13,132 BTC valued at $1.17 billion, but its ASST share price still closed 2.23% lower at $0.80 on Wednesday. Public companies now collectively hold about 1.134 million BTC, roughly 5.4% of the total Bitcoin supply.

Bitcoin-focused firms have been adding BTC to their treasuries while capital shifts toward AI-related legacy assets. American Bitcoin increased its holdings to 5,843 BTC with a 137% treasury jump, even as Bitcoin fell to $88k and ABTC sat on about $100 million in unrealized losses. At the same time, Bitmine has staked over 2.33 million ETH, contributing to a record 36 million ETH staked, which supports a resilient market narrative and aligns with a longer-term “crypto capital” vision.