Crypto Writer
Arslan Butt
Crypto Writer
Share
Bitcoin is under pressure near $89,800 as macro fear, ETF outflows, and technical damage converge. A heated Davos debate over Bitcoin’s legitimacy, sharp US equity losses on tariff threats, and nearly $500 mn in ETF withdrawals have rattled sentiment. Yet whale accumulation and BTC’s fixed supply narrative keep long-term confidence alive, even as charts now point to $86,000 as a critical downside test.
Coinbase CEO Says Bitcoin Has No Issuer in Davos Debate
At the World Economic Forum in Davos, Coinbase CEO Brian Armstrong engaged France’s central bank governor, François Villeroy de Galhau, in a contentious debate in which Armstrong defended Bitcoin. The French official questioned BTC’s legitimacy and stated that he had more faith in independent central banks than in what he called “private issuers” of the cryptocurrency during a panel discussion on tokenization.
He also highlighted Bitcoin’s limited supply and lack of a “money printer,” contending that, like gold, it serves as a check on excessive government spending.
Despite recent price volatility, Armstrong reiterated his belief that BTC may hit $1 million by 2030 and advised investors to focus on long-term trends.
These high-profile discussions enhance Bitcoin’s perception as an impartial, autonomous asset. Even if short-term market fluctuations persist, this promotes long-term acceptance and trust in BTC.
Bitcoin, Ether ETFs See Heavy Outflows as Institutions Turn Cautious
Spot Ether and Bitcoin ETFs saw significant withdrawals as institutions were compelled to lower risk amid uncertainties in the global economy. Grayscale’s GBTC and Fidelity’s FBTC accounted for the $483 million in withdrawals from spot Bitcoin ETFs on Tuesday. XRP ETFs also saw record withdrawals, and Ether ETFs lost $230 million, snapping a five-day inflow streak. There were just minor inflows into Solana ETFs.
Institutional caution amid global macro challenges is driving the selling. Global liquidity has been tightened by growing US-EU trade tensions, tariff concerns, and a sell-off of Japanese government bonds. As a result, BTC fell below $89,000, and Ether fell below $3,000.
Large BTC holders are still growing, according to on-chain data, indicating that long-term confidence remains despite the ETF withdrawals.
The ETF withdrawals could put short-term pressure on the cryptocurrency, but ongoing whale accumulation suggests a bright future. Institutional demand for BTC may swiftly reappear once macroeconomic concerns subside.
Bitcoin Price Prediction: $89K Breakdown Puts $86K Support in Focus
Bitcoin price prediction is bearish as BTC trades near $89,800 after rejection at $92,000–$93,000. On the 2-hour chart, price broke below the January uptrend’s rising trendline, signaling a loss of structure rather than just a pullback. Strong bearish candles drove the selloff, and smaller recovery candles suggest sellers are still active as buyers hesitate.
Price is inside a descending channel. Both the 50-EMA and 200-EMA now act as resistance near $92,000. The decline matches a 38.2% Fibonacci retracement, highlighting this consolidation zone. Key support is at $87,400 and $85,900. Resistance stands at $90,400 and $92,300.
The Relative Strength Index (RSI) bounced from 25 and is now below 50, indicating weak momentum and no clear reversal.
Trade idea: Sell below $90,500, target $86,000, stop $92,600.
Bitcoin Hyper: The Next Evolution of BTC on Solana?
Bitcoin Hyper ($HYPER) is bringing a new phase to the Bitcoin ecosystem. While BTC remains the gold standard for security, Bitcoin Hyper adds what it always lacked: Solana-level speed. The result: lightning-fast, low-cost smart contracts, decentralized apps, and even meme coin creation, all secured by Bitcoin.
Audited by Consult, the project emphasizes trust and scalability as adoption builds. And momentum is already strong. The presale has surpassed $30.8 million, with tokens priced at just $0.013605 before the next increase.
As Bitcoin activity climbs and demand for efficient BTC-based apps rises, Bitcoin Hyper stands out as the bridge uniting two of crypto’s biggest ecosystems. If Bitcoin built the foundation, Bitcoin Hyper could make it fast, flexible, and fun again.
Click Here to Participate in the Presale
Credit: Source link
