Crypto Daily Report 01.29: Bitcoin fluctuates around $90,000, institutional accumulation coexists with ETF net outflows

1. Bitcoin Price Trends and Technical Analysis
Bitcoin has recently been trading within the range of $87,500 to $90,500, facing a key psychological resistance level (such as $90,000). The technical pattern shows the formation of a W-bottom structure. Short-term support levels are concentrated between $86,000 and $88,500, while resistance levels are at $90,200 to $92,500. Market attention is on the upward targets after breakout (such as $91,500, $94,500). Technical indicators (like RSI divergence) suggest a short-term rebound possibility, but signals such as the death cross of the 21-day and 50-day moving averages warn of potential pullbacks.
2. Institutional Capital Flows and Corporate Holdings
Several listed companies and institutions have increased their Bitcoin holdings through secondary offerings, debt repayment, and other methods. Total holdings have significantly increased; for example, Strive has added 333.89 BTC through a $225 million preferred stock issuance, reaching a total of 13,131 BTC; ANAP Holdings' subsidiary increased holdings by 70.44 BTC, totaling 1,417.03 BTC. Some companies are diversifying their assets to include cryptocurrencies, such as SRx Health Solutions investing $18 million in BTC and ETH, and allocating assets into securities, gold, and other commodities.
3. Macroeconomic and Federal Reserve Policy Impact
The Federal Reserve FOMC interest rate decision (January 29) is expected to keep rates unchanged (3.5%-3.75%). Market focuses on Powell’s comments regarding inflation and rate cut expectations. The US dollar index DXY has fallen to a four-year low, gold prices hit a record high (breaking $5,200), and silver prices surged by over 60% month-over-month.
Macroeconomic risk aversion sentiments have driven traditional safe-haven assets like gold higher, indirectly affecting cryptocurrency market sentiment. The market awaits the Federal Reserve’s policy signals on liquidity to break the Bitcoin price deadlock.
4. Bitcoin Market Dynamics and ETF Flows
Recent net outflows from spot Bitcoin ETFs continue; on January 27, total net outflows reached $147 million. Major ETFs like BlackRock (IBIT) and Fidelity (FBTC) experienced significant outflows, while XRP and SOL ETFs saw slight inflows. BlackRock deposited 1,156 BTC and 19,644 ETH into Coinbase, possibly related to spot ETF operations (such as creation/redemption of shares). With approximately $8.5 billion in options expiring around January 30, market participants are watching the potential short-term impact of $100,000 call options.
5. Emerging Crypto Protocols and Market Hotspots
Amid a sluggish Bitcoin market, emerging crypto protocol Mutuum Finance (MUTM) has grown 300% since 2025, offering P2P lending services with a dynamic interest rate mechanism. Its presale phase attracted over 19,000 holders. Altcoin markets show mixed performance: Pippin up 58.6%, Hyperliquid up 22.5%, but 1INCH suffered a 13% crash due to liquidity shortages and whale sell-offs, highlighting high volatility and liquidity risks in the market.