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Bitcoin capital inflows stall as institutional treasuries break whale-retail cycle, CryptoQuant says
Bitcoin traded just below $90,000 on January 23 as investors weighed technical weakness against fresh institutional demand signals, including Strive’s newly announced plan to raise up to $150 million partly for additional BTC purchases.
The confluence of corporate treasury activity, cooling technical momentum and evolving macro conditions has left the market in a decision zone, with key support and resistance levels now defining near-term direction.
“The market is at a decision zone, how BTC reacts around here may define the next leg either higher or lower,” According to Alex Thorn, Head of Research at Galaxy Digital, in an interview with Bloomberg.
One headline-grabbing development driving sentiment is Strive’s plan to raise up to $150 million through a follow-on offering of Series A preferred stock, with part of the funds earmarked for further Bitcoin purchases.
Strive’s strategy seeks to balance debt reduction, operational funding and potential BTC accumulation, signaling confidence in Bitcoin’s long-term role on corporate balance sheets.
Institutional investors have increasingly viewed Bitcoin not just as a speculative asset but as a strategic reserve asset in volatile markets.
According to the company’s disclosures, proceeds will also go toward redeeming or repurchasing convertible notes and reducing exposure tied to credit facilities.
After those obligations are addressed, remaining capital could be directed into additional Bitcoin holdings.
Strive CEO says, deploying capital into Bitcoin alongside balance sheet will strengthen and align with their long-term strategic priorities.
Market reaction has been muted so far, with BTC’s price movements reflecting broader uncertainty rather than exuberant buying.
Analysts caution that while capital raises signal institutional intent, execution and timing will be key.
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News that the U.S. government paused planned tariffs on key European economies provided a brief uplift to risk assets equities and crypto alike displaying how Bitcoin’s short-term price can be sensitive to geopolitical and macroeconomic shifts.
Institutional demand dynamics are evolving as well. Nomura’s Laser Digital recently launched a Bitcoin diversified yield fund designed for accredited and institutional investors, blending BTC exposure with market-neutral strategies that generate income beyond pure price appreciation.
The fund is tokenized through Kaio and custodied by Komainu, reflecting the continued maturation of institutional-grade BTC products.
Market watchers see these products as part of a broader trend institutions seeking differentiated exposure to Bitcoin that manages volatility while capturing potential upside.
The technical context remains mixed. After slipping below significant trend support, Bitcoin’s immediate supports are watched around $89,300 and $87,400, levels where buyers previously emerged.
On the upside, reclaiming resistance near $91,800–$94,200 is viewed as necessary for bullish continuation.
Some analysts also point to a broader trading range between roughly $84,000 and $95,000, suggesting that until a decisive breakout occurs, Bitcoin may continue to oscillate within this corridor.
According to Lyn Alden, macro strategist, in a recent webcast.
“Bitcoin’s consolidation near this range reflects both the cooling of leveraged demand and the steadying of long-term holders”.
The current phase offers a balancing act weighing technical signals against fundamental developments such as institutional flow products, corporate accumulation strategies and macroeconomic catalysts.
Whether Bitcoin ultimately breaks decisively above $90,000 or slips toward deeper support levels will likely shape market sentiment for the coming weeks and months.
