The week of January 19, 2026 ends on a note of cautious stability. Bitcoin (BTC) trades at $93,753, down slightly 1.2% over seven days, while Ethereum (ETH) falls to $3,284, a loss of 2.8%. These modest movements contrast with the volatility of previous weeks, marked by peaks at $98,000 for BTC and $3,500 for ETH. The market appears to be entering a consolidation phase, with investors digesting gains accumulated since November 2025.
Analysis: Between Macroeconomics and Technical Caution
Several factors explain this slowdown. First, US macroeconomic data published this week — notably December inflation figures (CPI at 3.1%, stable) and the Fed minutes — cooled hopes of a rapid rate cut. The Federal Reserve maintains a hawkish tone, weighing on risk assets like crypto. Second, the market is seeing sector rotation: institutional investors appear to favor mid-cap altcoins over leaders BTC and ETH. Finally, the prospect of the next Bitcoin halving (expected April 2026) continues to fuel long positions, but without an immediate catalyst, prices stagnate.
Technically, BTC is testing the $92,000 support, while ETH struggles to hold above $3,200. Trading volumes are down 15% from the previous week, signaling a lack of enthusiasm.
Outlook
In the short term, the market could remain in a narrow range: $90,000-$96,000 for BTC, $3,100-$3,400 for ETH. Upcoming catalysts include the Fed meeting on January 29 (no change expected) and Q4 2025 GDP data. The...
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