Join our Telegram channel to stay up to date with the latest news
Bitcoin remained behind on Friday, below the $90,000 level, capping a week of weakness as cooling tensions in the United States and Greenland and a major buy by Strategy did little to bolster appetite for cryptocurrencies.
Risk sentiment during the Asian session was also limited by the Bank of Japan meeting and the US president’s warning regarding possible military action in Iran.
BTC is down 6% over the past week, despite rising slightly by a fraction of a percentage over the past 24 hours to trade at $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 drop below the $90,000 zone comes as Binance co-founder Changpeng Zhao (CZ) said BTC will break the four-year cycle this year.
CZ predicts Bitcoin “super-cycle” in 2026
CZ, speaking on CNBC’s Squawk Box on January 23, said he expects BTC to enter a “super-cycle” in 2026, potentially breaking the cryptocurrency’s four-year historical 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, in the past, followed four-year cycles linked to halving events that reduced mining rewards and new supply. These cycles typically produce an all-time high followed by significant price corrections.
“I think this year, given that the United States is very pro-crypto and all the other countries are sort of following, I think we’ll see that. We’ll probably break the four-year cycle,” Zhao said.
Zhao also highlighted what he sees as a broader policy shift around digital assets, saying the increasingly pro-crypto stance around the world is “good for the crypto industry and good for America as well.”
CZ on the next phase of Bitcoin
Speaking to CNBC at the World Economic Forum in Davos, CZ shared his views on the direction Bitcoin could take in the long term.
His key 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 holds above $89,000, retreating from its peak of $97,000-$98,000 earlier this month.
The price of Bitcoin risks a lasting decline
While BTC posted gains after Trump softened his rhetoric on Greenland earlier this week, the world’s largest cryptocurrency has largely reversed course, returning to a one-month low.
Retail appetite for BTC remains largely weak after falling below the ascending triangle.
The price of Bitcoin also fell 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 zone, just inside the previous supply zone of $107,000 to $106,000.
Price also shows indecision, remaining in the sideways trend between $83,510 and $94,451 from late November, with each move capped between an increasing support level and an even-level resistance zone.
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
As BTC falls below the key $90,000 level and the lower boundary of the ascending triangle, it risks seeing a sustained decline.
If Bitcoin price falls below the previous demand zone, around $85,000, the next key support zone, which now acts as a cushion against downward pressure, will be at $83,510.
Polymarket shows that the probability of BTC reaching $85,000 has increased to around 34%, as cited by prominent analyst Michaël van de Poppe on X.
It’s almost the end of the month, which means: there are going to be new bets on #Bitcoin for the coming month, and yet, there are some interesting ones for this month.
The chances of $BTC reaching $85,000 are now 34%, while betting on $BTC reaching $100,000 are 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 BTC spot exchange-traded funds (ETFs), which have seen net outflows for five consecutive days and $103.5 million in the past 24 hours, according to coin mechanism data.
Meanwhile, any attempt to push BTC above $91,000 and sustain it above the 50-day SMA could signal a bullish move. In this case, Bitcoin could rally back to its target prices above $94,500, with a long-term target of the $107,000 zone.
Related news:
Best Wallet – Diversify your crypto portfolio
- Easy-to-use, feature-driven crypto wallet
- Get Early Access to Upcoming Token ICOs
- Multi-chain, multi-wallet, non-custodial
- Now on App Store, Google Play
- Stake to win a $BEST native token
- More than 250,000 active users per month
Join our Telegram channel to stay up to date with the latest news
