Ray Dalio Warns Jan 26, 2026; Bitcoin Trapped $85k–$94k by U.S. ETF Selling

On January 26, 2026, Ray Dalio said the United States is nearing a move from Stage 5 to Stage 6 in his Big Cycle framework as Bitcoin trades defensively. Wintermute reported BTC has been confined to a $85,000–$94,000 band for 60 days amid U.S. spot ETF outflows and a persistent Coinbase discount, indicating domestic institutions are net sellers.