In this video: Bitcoin is at a massive crossroads, and the charts are telling a different story than the headlines. In today's deep dive, Chief Market Strategist Gareth Soloway explores a troubling reality: while the S&P 500 and Gold are hitting fresh all-time highs, Bitcoin is lagging behind.
Is Bitcoin still a risk asset? Is it truly "Digital Gold"? Gareth deciphers the technicals, focusing on a dangerous Head and Shoulders pattern currently forming on the daily chart. He identifies the critical $82,500 neckline—the level that, if broken, could lead to a "fast and furious" flush toward the $67,000 range. Video by Gareth Soloway.
Buy, sell, and store over 400 digital assets at one of Europe’s leading exchanges. Crypto trading and staking made simple!
Learn more >>
Bitcoin (BTC) is trading at approximately $87,943 as of January 29, 2026, following a 1.3% decline over the last 24 hours. The price experienced volatility, dropping below the $88,000 psychological support level earlier today to a low of $87,677 before showing signs of a partial recovery.
Market News & Analysis
-Federal Reserve Impact: The primary driver for today's downward pressure was the U.S. Federal Reserve's decision to hold interest rates steady at 3.5%–3.75%. This "hawkish pause" led to roughly $2.9 trillion being wiped from the total crypto market cap as investors adopted a more cautious stance.
-ETF Outflows: Leading up to the FOMC decision, Bitcoin Spot ETFs saw notable outflows, reflecting a shift in institutional sentiment toward risk mitigation.
-Technical Support: Analysts identify $87,000 to $87,500 as the current critical support zone. A sustained break above $90,000 is required to regain bullish momentum toward the $92,000 resistance level.
-Regulatory Developments: The market is also monitoring the Senate Agriculture Committee vote on a significant crypto regulation bill, which has contributed to thinner trading volumes.
Start trading your favorite Cryptocurrencies on Bybit's user-friendly and advanced trading platform. All the tools you need for profitable trading!
Visit Trading Platform >>
