Bitcoin Sell Pressure Intensifies as $90K Support Breaks
Welcome to the Daily for January 22, 2026. ☕️
Hello Cointribe! 🚀
Market check-in 👀 January 22, 2026—Here’s what made waves across the markets in the last 24 hours.
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡 Weather:
☀️ Sunny
24h crypto recap! ⏱
₿ Davos 2026: Scott Bessent Reaffirms Trump’s Bitcoin Strategy
At the World Economic Forum in Davos, US Treasury Secretary Scott Bessent doubled down on Donald Trump’s stance toward Bitcoin, restating the administration’s commitment to positioning the United States as a global leader in crypto innovation and maintaining a strategic Bitcoin reserve. Bessent reiterated elements of Trump’s plan—including holding confiscated Bitcoin rather than selling it and aiming to attract talent and firms to the US crypto ecosystem. While the remarks repeat previously stated goals rather than unveil new initiatives, they underscore a broader political push and spark debate over whether state-led asset accumulation undermines Bitcoin’s decentralized ethos.
👉 Read the article
⬆️ Ethereum: Spike in Activity Possibly Tied to Dusting Attacks
Ethereum’s network has seen a notable surge in activity—with millions of new addresses and record daily transactions—but this jump may not reflect healthier adoption. Security researchers suggest some of the increase could stem from “dusting” or address poisoning attacks, which exploit recently lower fees to send tiny amounts of ETH to many wallets. While some of the uptick could signify new users or use cases, part may be bot-driven spam, blurring the picture between genuine growth and malicious activity.
👉 Read the article
🪂 Trump Media Announces Crypto Airdrop Scheduled for February 2026
Trump Media & Technology Group has set a plan to distribute a new crypto token to shareholders, with February 2, 2026, designated as the record date for eligibility. The digital tokens, to be minted via Crypto.com on the Cronos blockchain, won’t be tradable or cash-convertible but could offer perks or rewards tied to Truth Social, Truth+, or other products. This move reflects ongoing efforts to weave Web3 incentives into the company’s ecosystem, though details about token utility and broader impact remain limited.
👉 Read the article
🟣 Solana Price Dips, But On-Chain Signals Show Strength
Solana (SOL) has fallen below $130, stirring uncertainty among investors amid a broader market downturn. Yet on-chain metrics tell a contrasting story: large holders are accumulating, exchange supplies are at a two-year low, and network activity is surging. Long-term wallets are reinforcing positions, signaling structural confidence despite the price drop. This divergence between market price and underlying activity hints at potential recovery, showing that SOL’s fundamentals may be sturdier than the charts suggest.
🌟 Crypto of the Day: Ripple XRP (XRP)
💧 XRP Price at a Crossroads
Our crypto of the day is Ripple XRP (XRP), which is currently moving through a consolidation phase after a notable pullback. On the daily chart, XRP is trading around $1.96, locked between key support near $1.80 and resistance around $2.23. Momentum indicators reflect hesitation rather than panic. The RSI sits in neutral territory, showing neither strong buying pressure nor deep oversold conditions. This type of price action often signals a market waiting for a catalyst.
📊 ETF Inflows Signal Institutional Interest
Despite the muted price action, underlying demand remains firm. US XRP spot ETFs have recorded consistent inflows, highlighting sustained institutional interest. Notably, these products have experienced outflows only twice this year, suggesting that larger investors are largely holding their positions rather than exiting. This divergence between price consolidation and ETF inflows hints at quiet accumulation beneath the surface.
📉 Retail Fear Reaches Extremes
Santiment data adds another layer to the picture. Social metrics show XRP has slipped into “Extreme Fear” territory after a 19% drop since the January 5 high. Retail participation data shows growing negativity toward XRP, now ranked as the fifth-largest crypto by market value. Santiment’s historical analysis suggests that when retail sentiment reaches this level of pessimism, price action often moves in the opposite direction, with rebounds frequently following widespread doubt.
📊 Real-time Performance (CMC)
💵 Current Price: $1.95
📉 24h Change: 2.81%
💰 Market Capitalization: $118.76B
🏅 CoinMarketCap Rank: #5
🪙 Circulating Supply: 60.78B XRP
📊 Trading Volume (24h): $4.09B
₿ Bitcoin Sell Pressure Intensifies as $90K Support Breaks
After holding above $90,000 for much of the recent market cycle, Bitcoin finally slipped below this key support level, reigniting selling pressure and raising fresh questions about the market’s strength and immediate direction.
📉 Market Weakness Emerges
In the latest price action, Bitcoin fell back under the $90,000 mark, weakening bullish momentum and triggering renewed concerns among traders. This breach marked a shift from sideways consolidation to a more vulnerable price structure as sellers gained the upper hand.
🔍 Whales and Long-Term Holder Activity
Large Bitcoin holders played a substantial role in the sell-off. Data shows whales transferred more than $400 million in BTC to exchanges, increasing available liquidity for sales. At the same time, long-term holders sold over 68,000 BTC in the past month, signalling profit-taking and a redistribution of supply.
📈 Technical Levels Under Pressure
Several key technical zones are now being tested as support. These include the 100-week simple moving average near $87,300 and a consolidation range around $84,000 to $86,000 that has held in past pullbacks. The $80,500 local low from late 2025 remains a crucial line before deeper downside becomes a stronger risk.
📊 Buyers Struggle to Regain Control
Despite the pressure, some indicators suggest a potential short-term slowdown in the decline. Analysts observe that markets are oversold on shorter timeframes, which could allow for a brief bounce rather than an outright reversal. Yet broader buyer conviction remains fragile in the face of persistent selling.
🧠 Key Points to Note
$90K Has Lost Support: Bitcoin’s fall below this level weakens near-term technical structure and increases vulnerability to further declines.
Whales Increasing Liquidity: Significant BTC inflows to exchanges suggest large holders are preparing to sell or distribute holdings.
Long-Term Holders Taking Profits: Over 68,000 BTC sold in the last 30 days indicates profit-taking rather than accumulation.
Support Zones to Watch: The $87,300–$86,000 range and the $80,500 low are critical technical tests ahead.
Short-Term Bounce Possible: Oversold conditions could slow the slide temporarily, but a decisive recovery needs stronger demand.
Bitcoin’s break below $90,000 shows how quickly sentiment can shift when selling pressure builds, particularly from larger holders and strategic profit realization.
