Bitcoin remained in the background on Friday, below the $90,000 level, capping a week of weakness as cooling tensions over the US and Greenland and a big purchase by Strategy did little to boost interest in cryptocurrencies.
Risk sentiment during the Asian session was also limited by the Bank of Japan meeting and the US president’s warning of possible military action in Iran.
BTC is down 6% over the past week despite rising a fraction of a percentage over the past 24 hours to $89,501 as of 2:59 a.m. EST, with trading volume down more than 1% to $39.2 billion, an indication of declining trading activity, according to Coingecko data.
The spike below the $90,000 area comes as Binance co-founder Changpeng Zhao (CZ) says BTC will break the four-year cycle this year.
CZ Predicts Bitcoin ‘Super-Cycle’ in 2026
Speaking on CNBC’s Squawk Box on January 23, CZ said he expects BTC to enter a “super cycle” in 2026, potentially breaking the cryptocurrency’s historic four-year pattern of price spikes and crashes.
Zhao attributed the bullish sentiment to what he described as increasingly pro-crypto policies in the United States and other countries, which he said are improving the global environment for digital assets.
Bitcoin has historically followed four-year cycles associated with halving events that reduced mining rewards and new supply. These cycles typically produce record highs followed by significant price corrections.
“I think this year, given that the US is so pro-crypto and every other country is following this, I think we’ll see this. We’ll probably break the four-year cycle,” Zhao said.
Zhao also pointed to what he sees as a broader political shift around digital assets, saying that the increasingly pro-crypto stance worldwide is “good for the crypto industry and also good for America.”
CZ on the next phase of Bitcoin
Speaking to CNBC at the World Economic Forum in Davos, CZ shared his views on where Bitcoin could go in the longer term.
His main point was simple but important: short-term price movements are unpredictable, but zooming out changes the… pic.twitter.com/AMvp8OJxQv
— Crypto Eagles (@CryptoProject6) January 24, 2026
His comments come as BTC remains stuck above $89,000, retreating from the peak of $97,00-$98,000 earlier this month.
Bitcoin price risks a continued decline
While BTC made some gains after Trump softened his rhetoric on Greenland earlier this week, the world’s largest cryptocurrency largely reversed course and returned to one-month lows.
Retail interest in BTC remains largely weak after falling below the ascending triangle pattern.
Bitcoin’s price has also fallen below the 50-day Simple Moving Average (SMA) at $90,178, confirming the overall bearish structure. The 200-day SMA at $105,252 serves as a long-term resistance area, just inside the previous supply zone of $107,000-$106,000.
The price is also showing indecision and remains within the late November sideways pattern of between $83,510 and $94,451 as any move is capped between a rising support level and a resistance zone of the same level.
Meanwhile, the Relative Strength Index (RSI) shows that buyers are currently holding the price above support, with the RSI currently moving in an almost straight line around 43.
BTC Price Prediction: $83,000 Level in Sight
With BTC falling below the key $90,000 level and the lower bound of the ascending triangle, it risks a continued decline.
If the price of Bitcoin falls below the previous demand zone around $85,000, the next major support area, which now acts as a buffer against the downward pressure, will be at $83,510.
Polymarket shows that the probability of BTC reaching $85,000 has increased to around 34%, as quoted by prominent analyst Michaël van de Poppe on X.
It’s almost the end of the month, which means new bets are coming #Bitcoin for the coming month, and yet there are some interesting ones for this month.
The odds of $BTC Hitting $85,000 is now 34% while you bet on it $BTC Reaching $100,000 is now 5%.
What to do… pic.twitter.com/1und9SB2oV
— Michaël van de Poppe (@CryptoMichNL) January 23, 2026
This bearish sentiment is also supported by US spot BTC exchange-traded funds (ETFs)which, according to figures, have registered net outflows for five consecutive days and $103.5 million in the last 24 hours Mint glass facts.
Meanwhile, any attempt to take BTC above $91,000 and hold it above the 50-day SMA could mark a bullish move. In this case, Bitcoin could climb back to its target prices above $94,500, with the long-term target being the $107,000 zone.
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