Bitcoin Faces Resistance at $90,000, Key Resistance Level at $93,000

On January 29, Bitcoin’s rebound toward $90,000 was rejected ahead of the Federal Reserve’s interest rate meeting, pulling back into the $86,000-$90,000 range. Market analysts note the true bullish turning point hinges on reclaiming $93,000 and converting it into support. Technically, Bitcoin’s key resistance levels now sit around the 50-day moving average (≈$90,000) and 100-day moving average (≈$94,000). Analysts say a decisive break above $93,000 (and holding that level) would unlock upside potential, with a target of $98,000—signaling the end of the correction phase. On the capital front, outflows from Bitcoin spot ETFs are clearly cooling. Glassnode data shows the 30-day average ETF net flow has gradually returned to neutral, indicating easing institutional selling pressure. Still, the market leans more on support from existing spot holders than new institutional capital. Capriole data, meanwhile, reveals a sharp drop in corporate Bitcoin purchases—with only Strategy (formerly MicroStrategy) continuing to accumulate. Last week, Strategy added ~$264 million, acquiring 2,932 BTC. Overall, Bitcoin’s short-term breakout above $90,000 still depends on a pickup in institutional demand and ETF funds flipping back to net inflows. Until then, the market will likely remain range-bound.