Bitcoin remains near $89,800 as investors look for signals

Bitcoin has remained range-bound and is trading near $89,800 as the market waits for a clear catalyst to determine its next direction. The cryptocurrency was trading at the $89,873 level on Friday.In the past 24 hours, Bitcoin and Ethereum are down 0.08% and 1.51% respectively. Among the major altcoins, BNB,

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Akshat Siddhant, Lead Quant Analyst at Mudrex, said macroeconomic and geopolitical uncertainties are keeping activity subdued, although underlying sentiment remains constructive.

The CoinDCX Research Team said market participants appear uncertain about the coming price action, which has kept Bitcoin within a consolidated range.

Ethereum and Bitcoin fell 9.60% and 5.75% respectively last week. Of the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Cardano and Hyperliquid have fallen by more than 11% in the past week.

Vikram Subburaj, CEO of Giottus, said Bitcoin remained within the range on January 23 as markets continued to digest limited liquidity and weak participation, with price action showing little urgency on either side, signaling consolidation rather than a shift in conviction.

Subburaj further added that capital flows remain the biggest drag as US Bitcoin ETFs extended a series of net outflows during January 22-23, indicating institutional caution rather than panic selling.

Here’s what other analysts say

CoinSwitch Markets Desk: While the rally has stalled due to short-term supply pressure, driven by over 17,000 BTC flowing into exchanges on January 20 and 21, a price hold near $90,000 suggests that the underlying conviction remains intact despite the broader sense of risk.Also read | Gold ETFs Plunge to 18%: Should MF Investors Hold, Add or Get Out?

Riya Sehgal, research analyst at Delta Exchange, said crypto markets remain vulnerable as Bitcoin and Ethereum consolidate after a sharp pullback, with price action reflecting caution amid changing macro conditions.

Nischal Shetty, founder of WazirX, said market actions over the past 24 hours show that participants are attentive and selective. The price action suggests steady participation rather than aggressive speculation. This stability reflects its growing maturity, with Bitcoin increasingly seen as a long-term asset, even as short-term traders remain selective.