Bitcoin rebound stalls at 4% as rate-cut mood caps rally; whales buy about $1.6B
Bitcoin’s latest rebound stalled after a roughly 4% bounce, topping out near $89,380 following a dip to about $85,970, as rate-cut optimism faded ahead of the Federal Reserve decision. At the same time, large holders quietly accumulated nearly $1.6 billion in BTC, signaling long-term conviction.
On the daily chart, Bitcoin showed a hidden bullish divergence between December 18 and January 25 — price formed a higher low while the RSI printed a lower low — and that signal sparked the small bounce. ETF optimism picked up after BlackRock filed for a Bitcoin premium-income ETF, but those headlines failed to extend the rebound.
Macro sentiment is the limiting factor: Polymarket shows a 99% probability of no rate change at the upcoming FOMC meeting, and with rate-cut hopes absent liquidity expectations remain tight, restricting follow-through even when technical signals turn positive. On-chain data indicate accumulation by different whale cohorts: wallets holding 1,000–10,000 BTC rose from about 4.28 million to 4.29 million BTC, 10,000–100,000 BTC climbed from roughly 2.19 million to 2.20 million BTC, and 100,000–1 million BTC increased from about 664,000 to 672,000 BTC by January 28.
Combined, those groups added roughly 18,000 BTC, worth roughly $1.6 billion at current prices. Cost-basis heatmaps show a heavy short-term supply cluster between $90,160 and $90,590 (about 176,000 BTC) acting as a sell wall, while stronger support sits between $84,440 and $84,840 (nearly 395,000 BTC).
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