Bitcoin is lagging behind gold, which hit new all-time highs on Monday, amid markets reacting to U.S. government actions against Federal Reserve Chair Jerome Powell. Gold and silver prices continue rising, while Bitcoin (BTC) struggles, falling below 20 ounces of gold at the start of 2026 and now oscillating near two-year lows, per TradingView.

Investment specialist Karel Mercx of Dutch consultancy Beleggers Belangen argues Bitcoin has failed as an anti-inflation tool, or "debasement trade." In a Monday X post, he stated: "The verdict is in: the debasement trade is gold and silver, not Bitcoin." BTC remains 20% below its peak, as investors favor real hard money over "digital gold," calling the narrative "compromised" and "fallacious."

Crypto trader Michaël van de Poppe senses urgency for a market recovery, while analyst Benjamin Cowen highlights the gold vs. S&P 500 (SPX) chart as pivotal: "If SPX falls against gold, the last decade's context changes completely," based on monthly data.

In September 2025, Mercx declared Bitcoin's four-year price cycle "dead," noting weakening cycles in BTC priced in gold, marking the first quadrennial loss.

Binance's dominance in global cryptocurrency trading is declining as competitors gain market share and traders adopt alternative methods for buying and selling digital assets. According to CoinDesk Data, the world's largest digital asset exchange's share of overall spot trading dropped to 25% in December, marking its lowest level since January 2021. This compares to 28.5% in November.

At its 2023 peak, Binance handled nearly 60% of all spot crypto trades, where actual ownership of assets transfers quickly. The shift highlights evolving dynamics in the crypto market, with rivals like Coinbase and decentralized platforms eroding Binance's lead amid regulatory pressures and innovation in trading venues.

Interview on Maduro's Alleged Bitcoin Holdings

In a Radio Radicale interview recorded on Wednesday, January 14, 2026, at 15:30, Marcello Coppo, deputy from Fratelli d'Italia and president of the intergroup for digital assets and blockchain, discussed Nicolás Maduro's purported Bitcoin fortune. Maduro, recently captured by Trump's special forces and imprisoned in Brooklyn, allegedly amassed around 60 billion USD in Bitcoin to evade U.S. sanctions on Venezuelan oil sales. Payments, often in USDT stablecoins, were converted to Bitcoin for security, as its decentralized nature prevents blocking by authorities like the U.S. Treasury, even for terrorism or narcotraffic-linked funds.

Bitcoin's Role and Market Insights

Coppo noted Bitcoin's value surge from $5,000 (when acquired) to $94,000–$95,000, turning it into a lucrative investment despite market volatility. For large sums, multi-signature wallets (requiring multiple keys, e.g., from Maduro and aides) ensure security. Venezuela's holdings might exceed the U.S.'s 120,000 BTC, China's 180,000–190,000 BTC, and Ukraine's donations-funded stash combined. Possible Italian ties include an Italian wife linked to a company aiding Maduro, though details remain unverified.

Implications for Bitcoin Market

Converting 60 billion USD to euros yields about 50 billion EUR (at 1 USD ≈ 0.83 EUR), enough for multiple national budgets. However, selling could crash prices, as it represents a significant portion of Bitcoin's 21 million total supply. Coppo compared it to gold bars but praised Bitcoin's transparency via blockchain analysis, contrasting failed Venezuelan crypto like Petro, which hyperinflated due to lacking real backing like oil. Bitcoin serves as a neutral tool for regimes securing illicit or sanctioned assets.

Bitcoin has declined sharply, dropping below $95,000 on Friday from its all-time high of over $126,000 in October—a more than 24% fall. This extends losses amid a broader stock market sell-off, driven by investor anxiety over the Federal Reserve's interest rate decisions. By midday Friday, Bitcoin hovered just above $96,000, with strong downside pressure persisting.

Key factors include massive outflows from Bitcoin exchange-traded funds (ETFs), hitting the second-highest daily level on Thursday per Bloomberg, adding selling pressure. Last month's sell-off stemmed from leveraged liquidations and sales by long-term holders (whales). 10X Research highlights no major buyers emerging, with on-chain indicators like declining active addresses and rising exchange inflows confirming a bear market regime. They warn that breaking $93,000 support could lead to deeper short-term losses, especially without a December Federal Reserve rate cut or dovish signals.

Fundstrat strategist Sean Farrell, typically optimistic, now cautions on the lack of catalysts, exacerbated by a prolonged government shutdown delaying liquidity. He suggests a dip to the low $90,000 range could reset valuations and attract buyers. Historically, Bitcoin's bear markets follow bull runs, like the 70% drop from $69,000 in 2021 to $15,000. Hopes rest on resumed ETF inflows, Fed rate cuts, or positive macro data, but tighter liquidity favors safer assets. Long-term fundamentals remain strong, advising against leverage and favoring dollar-cost averaging while monitoring Fed updates and key levels like $93,000.

Bitcoin exchange-traded funds (ETFs) started 2026 volatile, with US-listed spot Bitcoin BTCUSD ETFs attracting $753 million on Tuesday—their second consecutive inflow day after a four-day losing streak—per Farside Investors. Total net inflows for Bitcoin ETFs reached $660 million in 2026 so far, amid fluctuating demand. In contrast, traditional ETFs drew $46 billion in the first six days of 2026, an "abnormally high" pace for $158 billion monthly (4x the norm), according to Bloomberg ETF analyst Eric Balchunas in a Monday X post. This divergence highlights investors' preference for lower-risk traditional funds over crypto ETFs.

Bitcoin ETF demand has waned over six months, from $6 billion monthly inflows in July 2025 to $1.09 billion outflows in December 2025, per SoSoValue. Spot Ether ETHUSD ETFs saw $130 million inflows on Tuesday, totaling $240 million in 2026, while spot Solana SOLUSD ETFs recorded $67 million net inflows since year-start, per Farside Investors.

Blockchain data shows Bitcoin treasury firms filling the demand gap, adding 260,000 BTC to balance sheets in the past six months—outpacing 82,000 mined coins—for monthly investments of ~260,000 BTC ($25 billion), per Glassnode. However, "smart money" traders hold $122 million net short positions on Bitcoin, betting on declines in most top cryptocurrencies except Ether, XRP (XRP), Pump.fun’s PUMP token, and Zcash (ZEC), per Nansen.

Wrapped Bitcoin USD (WBTCUSD), a tokenized version of Bitcoin pegged 1:1 for use on blockchains like Ethereum, enables DeFi liquidity and cross-chain trading. It holds a $11.8 billion market cap and serves as key collateral in decentralized finance protocols.

As of January 14, 2026, WBTCUSD trades at $94,832.56, up 3.53% in 24 hours from a previous close of $90,934.08. It opened at $95,010.86, hit a day high of $95,307.81, with trading volume at 416.9 million—26% above the 30-day average of 330.1 million. Year-to-date, it's up 6.37% but down 20.74% over six months, below its 200-day moving average of $106,107.36. The year high is $125,777.45, low $74,486.36.

Technical indicators are mixed: RSI at 59.13 (neutral), MACD bearish with bullish histogram divergence, ADX 33.32 (strong trend), Stochastic %K 86.05 (overbought), and CCI 337.37 signaling pullback risk. It's near the upper Bollinger Band at $93,404.

Forecasts include monthly $93,185.08 (-1.74%), quarterly $139,482.32 (+47.16%), and yearly $83,923.50 (-11.48%). Key support: 50-day MA $89,440.09, lower Bollinger Band $83,836.12, Keltner lower $83,220.29. Resistance: day high $95,307.81, Keltner upper $95,464.89.

WBTCUSD reflects Bitcoin trends and DeFi adoption, per Meyka AI PTY LTD data. Not financial advice; conduct due diligence.

Bitcoin surged 4.6% on Tuesday to $96,500—its strongest single-day gain in nearly 1.5 months—driven by cooling U.S. inflation (core CPI falling to 2.6% from 2.7%), $591 million in crypto short liquidations, optimism around the proposed CLARITY Act regulation bill, and spot Bitcoin ETF inflows jumping nearly 7x to $753.7 million. Ethereum rallied to $3,300, XRP gained over 5%, and Dogecoin soared 8%, showing coordinated market strength. Joel Kruger, crypto strategist at LMAX, noted the breakout above $95,000 signaled fresh buying interest amid rising trading volume.

On Wednesday, January 14, 2026, prices corrected modestly: Bitcoin at $95,120 (-0.28%), Ethereum at $3,296 (-0.81%), XRP at $2.13 (-1.77%), and Dogecoin at $0.1467 (-0.99%). Technical analysis reveals all four assets remain in a 2-month consolidation since mid-November, trading below key 200-day moving averages, preserving a bearish structure. For Bitcoin, the upper boundary ($94,000-$96,000) held firm after testing $96,500, with the lower boundary at $82,000-$85,000 (late 2025 lows) and 200 MA at $106,120 intact.

The analyst, with over a decade of experience, sees no fundamental change, expecting swings to lower targets: Bitcoin $74,000-$68,000 (April 2025 lows and weekly chart), Ethereum $2,600-$2,730, XRP $1.77 (December 19 lows), and Dogecoin $0.12 (early January 2026 lows). Despite macro tailwinds like Fed easing, deteriorating technicals suggest continued uncertainty.

Bitcoin is trading at an average of $91,894, up nearly 2% in the past 24 hours, but the market signals caution. Analysts note Bitcoin dominance pressing against a falling trendline; historically, failure to break higher with weakening momentum benefits altcoins. CryptoQuant data shows wallets holding 1,000–10,000 BTC sold about 220,000 BTC over the last year—the fastest decline since early 2023—indicating large players reducing exposure near local or macro tops.

Geopolitical tensions add uncertainty, with Bitcoin's recent pullback linked to U.S. President Donald Trump’s announcement of new tariffs, rattling risk assets. Analyst Maartunn highlights unusual liquidity: recent Mondays feature upside grabs followed by reversals hunting long liquidations, repeating in four of the last five weeks.

The $92,000 level is a key pivot; a clean break above could target $100,000, while failure might drift prices to the low $80,000s, near ETF holders’ average cost basis of $80K. With fragile positioning, traders eye rotation to altcoins like Remittix, a PayFi platform with live wallet on the App Store, CertiK audit, confirmed listings on BitMart and LBank, and a crypto-to-fiat app launch on February 9, 2026.

Bitfarms Ltd. (NASDAQ: BITF), a vertically integrated Bitcoin mining company, announced on January 14, 2026, a strategic pivot from Bitcoin mining to high-performance computing (HPC) and AI data centers, targeting hyperscalers and GPU-as-a-service opportunities. Executives, including COO Liam Wilson and CFO Jonathan Merne, emphasized that infrastructure, not chips, is the key constraint amid rising AI demand, with data center lease rates surging 12% annually since 2022 and projected power shortfalls by 2030. Bitcoin operations continue to generate about $8 million monthly, funding investments without straining the balance sheet.

The company is designing 99% of its 2026–27 portfolio for NVIDIA's next-gen Vera Rubin GPUs, favoring cooler regions like Pennsylvania, Washington, and Quebec for lower power usage effectiveness (PUE) of 1.2–1.3 versus 1.4–1.5 in hotter areas like Texas. Key U.S. sites include: Moses Lake, Washington (18 MW, potential GPU-as-a-service yielding higher income than Bitcoin mining); Panther Creek, Pennsylvania (350 MW secured, expandable to 500+ MW, $200M Macquarie facility); Sharon, Pennsylvania (110 MW, full substation by end-2026); Quebec (170 MW renewable hydropower, convertible to HPC); and Scrubgrass, Pennsylvania (potential 1.3 GW gigacampus by 2028).

Financed by $590M convertible proceeds, $750M unencumbered liquidity, and the Macquarie facility, Bitfarms expects notice to proceed (NTP) for Moses Lake, Sharon, and Panther Creek in H2 2026, with revenue by late 2027. Corporate shifts include exiting Latin America via Paso Pe sale, adopting U.S. GAAP for 2024–2025, opening a New York City office, and potential U.S. redomiciliation in 2026.

Ethereum may surpass Bitcoin's performance in 2026, driven by regulatory changes and market signals, as outlined in an article by Akash Girimath on Jan 14, 2026. Since 2023, Ethereum's bull run has returned 160%, trailing Bitcoin's 457% gain per CoinGecko data, underscoring Ethereum's historical lag amid improving conditions.

Bitcoin dominance peaked at 66% in July 2025 and has declined, indicating capital rotation to altcoins like Ethereum. The ETH/BTC ratio rose 3.59% year-to-date, signaling potential altcoin season, per Jimmy Xue of Axis. Shivam Thakral of BuyUCoin attributes this to investors seeking higher beta in Ethereum post-Bitcoin ETF stability, rather than Bitcoin weakness.

Ethereum's fundamentals strengthen: transactions hit 2.05 million in 2026, up 6.8% overall and 31% since mid-December. Catalysts include ETF demand, Layer 2 adoption, fee burns, restaking, DeFi revival, and upgrades like Fusaka, Glamsterdam fork, and ERC-8004 for Agentic AI economy. Year-to-date, Ethereum's 11% return edges Bitcoin's 8.5%, though experts view it as cyclical without macroeconomic support.

Prediction markets on Myriad (owned by Dastan) give 19% odds for an alt season before April 2026.

Bitcoin Market Overview

On Wednesday, Bitcoin (BTC) traded above $95,000, buoyed by positive sentiment that lifted the broader cryptocurrency market. This followed Tuesday's macro-driven rally, with altcoins like Ethereum and Ripple holding onto gains. The uptrend was fueled by improved market sentiment after the US reported lower-than-expected core inflation in December.

However, by Friday, BTC pulled back toward $90,000 after rejection at a key resistance zone. The decline is attributed to fading institutional demand, with spot Exchange Traded Funds (ETFs) recording net outflows so far this week.