HONG KONG, Jan 27, 2026, 18:30 (HKT)
- Bitcoin climbed past $88,000 again, with most major tokens bouncing back after a sharp dip
- Bad weather in Washington forced a U.S. Senate committee to postpone its work on crypto market-structure legislation
- Traders eyed near-term resistance at about $89,000, with support hovering closer to $80,000
Bitcoin bounced back past $88,000 on Tuesday, with most major cryptocurrencies also climbing as they recovered from a turbulent spell of volatility.
The bounce is crucial now as crypto jitters over policy news and thin liquidity dominate. Traders are zeroing in on the $88,000-$90,000 zone, seeing it as a key threshold that either holds firm or breaks down.
In Washington, a winter storm delayed a Senate committee meeting on a bill aimed at clarifying oversight of crypto trading. Across Asia, discussions around Japan potentially loosening regulations to permit cryptocurrency exchange-traded funds (ETFs)—which trade like regular shares—have kept attention on future regulatory shifts.
Bitcoin edged higher, rising between 1% and 2% to hover around $88,500. Ether held near $2,940, while several major tokens posted gains close to 4%, according to Analytics Insight, which referenced data from CoinMarketCap. The total crypto market capitalization climbed back to roughly $3 trillion after dipping below that threshold earlier in the day. 1
Cardano jumped 4.41% and XRP gained 4.07% in early U.S. trading Monday, MarketWatch reported. Other cryptos like Sui, Solana, ether, and Avalanche also pushed higher. 2
CoinSwitch Markets Desk noted that selling pressure has eased, but described the price action as “choppy” amid ongoing trader caution over macro uncertainty. It added that bitcoin must break and sustain levels above $89,000 before any rally looks like more than a short-covering bounce.
PANews reported bitcoin rose 1.02% to $88,534 and ether gained 1.34% to $2,938 at the time of publication. The outlet cited The Block, which noted a Senate Agriculture Committee markup was delayed from Tuesday to Thursday due to weather. Democrats appeared open to resuming discussions with Chairman John Boozman’s team. Meanwhile, Bitmine chairman Tom Lee tweeted that the “parabolic” rally in gold and silver is overshadowing improving crypto fundamentals. 3
Japan’s financial regulator is considering changes that might allow bitcoin ETFs by 2028, DL News reported, citing Nihon Keizai Shimbun. Tomoya Asakura, CEO of SBI Global Asset Management, tweeted that “lifting the ban in 2028 is too late,” while Didier Lavallee, CEO of Tetra Digital Group, described it as a “significant milestone.” 4
Institutional positioning has been a tug-of-war. According to Analytics Insight, U.S.-based bitcoin ETFs experienced net outflows last week, with investors withdrawing more funds than they injected, despite a price rebound.
Corporate buying remained notable. Strategy revealed in an 8-K filing that it purchased 2,932 bitcoin for roughly $264.1 million between Jan. 20 and Jan. 25, financing the deal through stock sales. This brought its total holdings to 712,647 coins. 5
Stablecoins—crypto tokens pegged to the U.S. dollar—remained close to their $1 marks, with USDT and USDC hovering near parity, according to Analytics Insight. The report also noted a $7 billion weekly decline in ethereum-based stablecoin supply, indicating some funds are exiting that segment.
The rebound, however, remains shaky. Analysts flagged $80,000 as a crucial support level for bitcoin — falling below that could trigger another drop. They also cautioned that delays in Washington’s policy decisions might sustain a risk premium in the prices.
Traders are eyeing Thursday’s Senate schedule and bitcoin’s ability to hold above $88,000 as liquidity creeps back in. Since crypto never sleeps, the next move could come before anyone even logs on.
