NEW YORK, Jan 24, 2026, 12:03 EST — The market has closed.
Bitcoin dipped on Saturday, lingering just under $90,000 amid light weekend trading and investors holding back ahead of next week’s U.S. rate decision. It last fell roughly 0.9% to $89,140, after fluctuating between $89,044 and $91,002.
With Wall Street closed, focus turned to what happens when trading resumes. U.S.-listed spot bitcoin ETFs, which track the token’s price, saw net outflows of $103.5 million on Friday. BlackRock’s IBIT accounted for most of that, with $101.6 million withdrawn, according to data from Farside Investors. 1
Traders are closely watching the Federal Reserve’s meeting set for Jan. 27-28. The policy statement drops at 2 p.m. EST Wednesday, with Chair Jerome Powell’s press conference at 2:30 p.m., according to the Fed’s calendar. Changes in rate expectations have the power to sway bitcoin by altering demand for risk assets and affecting the attractiveness of cash yields. 2
Some investors are repackaging the “alternative currency” concept. On Thursday, Bitwise and Proficio Capital Partners debuted the Bitwise Proficio Currency Debasement ETF (BPRO.P), blending bitcoin with gold and other metals. Proficio CIO Bob Haber argued that government bonds aren’t offering enough reward for their risk. 3
Crypto traders see the market stuck in a tight range for now. Piyush Walke, derivatives research analyst at Delta Exchange, pointed to “choppy price action” in bitcoin between about $88,000 and $91,000, with selling pressure cropping up near $91,500. WazirX founder Nischal Shetty noted the market has been “mirroring broader macroeconomic developments,” according to the Economic Times. 4
The environment hasn’t been smooth. According to LSEG data cited by Reuters, U.S. equity funds recorded net outflows of $5.26 billion in the week ending Jan. 21 as investors pulled back amid tariff concerns and geopolitical tensions. 5
Regulation remains a factor, even if it’s not shifting prices minute to minute. The U.S. Securities and Exchange Commission has agreed to drop its case against the Winklevoss twins’ Gemini over a crypto lending program, Reuters reported. This follows investors recovering their funds through the Genesis bankruptcy process. 6
Next week’s calendar is packed, even as some U.S. data releases stay on hold due to the government shutdown. Markets are betting 97% that the Fed will keep its target range steady at 3.50% to 3.75%, according to Kiplinger. Meanwhile, Wells Fargo economists Sarah House, Michael Pugliese, and Tom Porcelli anticipate the Fed will emphasize “maximum flexibility.” 7
The downside scenario is straightforward. If the Fed turns more hawkish, yields climb again, or ETFs face another wave of selling, bitcoin could slide below key support levels. Weekend liquidity might then amplify these moves ahead of U.S. market reopenings.
Traders will be eyeing if $90,000 can hold as U.S. ETF trading resumes Monday and if flows calm down. The next key date is the Fed’s meeting on Jan. 27-28. 8
