Bitcoin trades near $91,500 after a brief push above $92,000 earlier today fizzled, leaving a minor daily gain but a 1% weekly decline. The monthly RSI slipped below 60, and analysts flag 60 as a pivotal reclaim for the cycle. Monday’s $92,400 high and resistance at $94,000 frame near-term risk and upside targets.

Between January 5 and January 11, Strategy reported purchasing an additional 13,627 bitcoin for roughly $1.25 billion at an average cost of $91,519 per BTC, including fees. As of January 11, the company holds 687,410 BTC acquired for about $51.80 billion, funded largely through sales of MSTR common stock and STRC preferred shares under its at-the-market programs.

On 12 January, Bitcoin's advance faded around the $91,000–$92,000 zone while U.S. spot Bitcoin ETFs posted another day of net outflows. BlackRock's IBIT vehicle drove most of the more than 3,700 BTC in redemptions, with on-chain data showing thousands of coins moved to Coinbase Prime and adding visible sell pressure to the market.

On Monday, Bitcoin underperformed gold and silver in what some analysts describe as the debasement trade, with BTC trading near its lowest level against gold in two years. Investment specialist Karel Mercx argued that investors now favor physical precious metals over Bitcoin as a hedge against fiat currency dilution, while gold also strengthens against the S&P 500. Other crypto commentators warned that Bitcoin’s market needs a stronger breakout as gold and silver notch fresh all-time highs.

In August 2020, Michael Saylor said Strategy began with a $250 million Bitcoin purchase. On Jan. 11, 2026, he noted the position had reached $60.25 billion, while MSTR pulled back to its monthly supertrend support. A StrategyTracker chart counted 673,783 BTC with an average cost near $75,026 and an unrealized gain of about 21%.

Bitcoin is fluctuating near $90,500 after pulling back from late‑2025 highs, with buyers defending dips and sellers capping gains below key resistance zones. Price action around $90,000–$92,650 is unfolding as a criminal investigation into Fed Chair Jerome Powell and political tension over interest‑rate policy add uncertainty ahead of the 28 January FOMC meeting. Technical readings show compressed trading ranges and mixed signals, with some indicators pointing to short‑term caution but others suggesting a possible breakout if $94,000 is cleared.

Federal Reserve Chair Jerome Powell said in a January 12, 2026 video that the DOJ served the Fed grand jury subpoenas linked to his June 2025 Senate testimony on a $2.5 billion headquarters renovation. Early market moves saw U.S. equity futures soften, gold and silver spike, and Bitcoin approach $92,000 before easing to $90,000.

Late on Sunday, Federal Reserve chair Jerome Powell said he is facing a criminal investigation over allegations he misled Congress about renovation work at the central bank’s Washington DC headquarters. He argues the probe is really about his refusal to follow Donald Trump’s calls for faster interest rate cuts, raising doubts over the Fed’s independence and what this could mean for financial markets and Bitcoin.