Bitcoin’s next all-time high now hinges on whether spot ETF demand turns persistent after sharp two-way flows. Net outflows totaled $1.29 billion from Dec. 15–31, 2025, with early January 2026 shedding $681 million, then a +$840.6 million day on Jan. 14 followed by roughly $1.32 billion of outflows across Jan. 20–23 ahead of the Jan. 27–28 FOMC meeting.

Chris Burniske, cofounder of Placeholder VC and former crypto lead at Ark Invest, has outlined several Bitcoin price regions where he would consider buying if the ongoing decline deepens, after gaining recognition for timing past cycle turning points. His reference zones span from the mid-$80,000s to the low-$50,000s, with specific levels such as around $80,000, $74,000, $70,000, $58,000 and $50,000 and below, while technician Aksel Kibar highlights technical support in the $73,700–$76,500 band as part of a broader base-building phase. At press time, Bitcoin was changing hands at $87,812.

BlackRock has submitted an S-1 registration statement dated 23 January 2026 for the planned iShares Bitcoin Premium Income ETF, moving a step closer to launching a Bitcoin-focused income product. The fund aims to track Bitcoin’s price while generating additional yield of about 8–12% annually through covered call strategies on IBIT shares and other spot Bitcoin ETPs. The filing comes as BlackRock’s existing IBIT spot Bitcoin ETF holds roughly $69.85 billion in assets, even as Bitcoin trades below $90,000 and analysts highlight potential downside toward $74,000 or lower.

On 23 January 2026, BlackRock filed an S-1 registration statement with the U.S. Securities and Exchange Commission for the proposed iShares Bitcoin Premium Income ETF. The fund is designed to mirror Bitcoin’s price performance while generating income by actively selling call options, primarily on shares of the iShares Bitcoin Trust (IBIT) and, when appropriate, on broader ETP indices. If approved, the product would add an income-focused layer to BlackRock’s expanding lineup of Bitcoin-related investment vehicles.

In its Charting Crypto Q1 2026 report, Coinbase found that 70% of institutional participants view Bitcoin as undervalued, assigning a fair range of $85,000 to $95,000. According to CoinMarketCap, BTC trades at $87,831.91, down 0.34% in 24 hours and over 30% below the October all‑time high of $126,080.

Markets were on alert over the weekend after reports of New York Fed "rate checks" in USD/JPY, a move often seen as a precursor to coordinated action. Traders note that prior yen interventions coincided with roughly 30% Bitcoin drawdowns before rallies surpassing 100%. According to Alphractal, onchain metrics show no "true bottom" yet, with risks of another leg lower.

Over the past eight days, Bitcoin has failed twice to break above the $94k local resistance, while its higher timeframe trend remains bearish despite a rebound from $84k over the last three weeks. On-chain data indicates a sharp drop in stablecoin inflows since August and mounting losses for short-term holders, yet some analysts suggest the current phase looks more like a stabilization period than a full crypto-winter.

Bitcoin has rebounded from $84,000 to near $93,000 and is consolidating around $91,400 as exchange selling pressure and whale deposits decline. On-chain metrics point to weakened short-term holder activity and a potential move toward the $98,700 resistance, with some traders eyeing the $102,000–$112,700 zone if momentum builds. Analysts describe the setup as fragile but improving, with macro policy expectations and subdued ETF inflows still shaping the next major breakout.