New York, Jan 22, 2026, 10:44 EST — Regular session
- Bitcoin slipped 1.2% to roughly $88,868, moving within a range of $87,304 to $90,281.
- On Jan. 21, U.S. spot bitcoin ETFs saw net outflows of about $709 million, with IBIT and FBTC taking the biggest hits.
- After new PCE inflation figures, traders are focused on the Fed’s Jan. 27-28 meeting.
Bitcoin dipped under $90,000 on Thursday, pressured by ongoing outflows from U.S.-listed spot bitcoin ETFs. The top cryptocurrency traded around $88,868, down 1.2%, by mid-morning in New York, within a session range of $87,304 to $90,281.
This shift is significant as ETF flows have become a near-daily gauge of institutional appetite for bitcoin. Traders are also recalibrating their bets on U.S. interest rates, with crypto behaving more like a macro asset, reacting sharply to moves in the dollar and yields.
U.S. spot bitcoin ETFs posted net outflows of roughly $708.7 million on Wednesday, led by BlackRock’s IBIT, which saw $356.6 million pulled. Fidelity’s FBTC wasn’t far behind, dropping $287.7 million, according to Farside Investors. These funds have now lost about $1.2 billion over the last two sessions. (Farside)
Crypto-related stocks dipped with the token. Strategy shares dropped roughly 2.1%, and Coinbase slid about 0.7% in early trading. Ether also edged down nearly 1.2%, hovering near $2,954.
Strategy, led by bitcoin advocate Michael Saylor, revealed this week it snapped up roughly $2.13 billion worth of bitcoin in just eight days. The firm now holds 709,715 coins as of Jan. 19. “Stopping would be as much a signal to the market as purchasing more,” said Nic Puckrin, analyst and co-founder of Coin Bureau. (Reuters)
The macro backdrop has traders on edge. U.S. consumer spending climbed 0.5% in both October and November. The PCE price index — the Fed’s favored inflation measure — ticked up 0.2% in November, with year-on-year inflation at 2.8%, Reuters reported. (Reuters)
Jobless claims ticked up slightly to 200,000 last week, while third-quarter GDP growth was revised higher to a 4.4% annual rate, highlighting an economy that’s holding strong despite sluggish hiring. Heather Long, chief economist at Navy Federal Credit Union, noted, “Strong growth is powered by AI investments … but there is almost no hiring.” (Reuters)
Risk appetite bounced back late Wednesday after U.S. President Donald Trump pulled back on a tariff threat linked to Greenland, lifting stocks and Treasuries from earlier losses. “Uncertainty just got priced out,” said Matthew Smart, director of financial planning and portfolio analysis at WWM Investments. (Reuters)
Bitcoin hasn’t been able to maintain its recent bounce, with the ETF flow keeping sellers in check. A fresh wave of heavy withdrawals—or a stronger dollar if the Fed dashes rate-cut expectations—might drag BTC back down toward this week’s low around $87,000.
All eyes are on the Fed’s policy meeting set for Jan. 27-28, with the rate decision landing on the 28th. Traders will track daily ETF flow updates closely, while December’s PCE inflation data, due Feb. 20, could also steer bitcoin’s next move. (Federalreserve)
