Bitcoin Undervalued at $87,700: Kyle Chassé Targets $270,000
Bitcoin trades at $87,700, down 1.2% in 24h, but Kyle Chassé sees a $270,000 target amid rising global liquidity.
As of January 26, 2026, Bitcoin (BTC) trades at $87,700, reflecting a 1.2% decline over the past 24 hours, according to data from CoinMarketCap. This dip comes amid heightened U.S. political tensions and fears of a government shutdown by January 31, pushing BTC below a critical psychological threshold of $90,000. The market sentiment is shaky, yet some analysts see this as a buying opportunity based on global liquidity trends.
Price Action Details
Bitcoin’s current price of $87,700 marks a 1.2% drop in 24 hours, a 3.5% decline over the past 7 days, and a 5.8% loss over the last 30 days, per CoinGecko. Key support lies at $85,000, with resistance at $90,000 proving stubborn as BTC struggles to reclaim it. Trading volume stands at $32 billion in the last 24 hours, 15% below the 30-day average of $37.6 billion, signaling reduced market participation. Bitcoin’s market cap now hovers at $1.73 trillion, down from a peak of $1.85 trillion earlier this month.
Driving Factors
Crypto pundit Kyle Chassé attributes Bitcoin’s undervaluation to rising global liquidity, pegging a potential target at $270,000 in a recent X post. He cites the global M2 money supply hitting a record $98 trillion, with a year-to-date growth of 6.2%, the fastest since the 2020 pandemic response, driven by monetary expansion in the U.S., Eurozone, China, and Japan. On-chain data from Glassnode shows whale accumulation, with wallets holding over 1,000 BTC increasing by 2.3% in the past week, suggesting confidence among large holders. Additionally, BitMEX co-founder Arthur Hayes recently predicted that dollar liquidity surges would propel BTC higher, a narrative gaining traction amid fiat currency weakening like the Dollar (DXY down 4% YTD) and Yen (down 6% YTD).
Broader Market Context
Bitcoin’s performance mirrors broader crypto market struggles, with Ethereum (ETH) down 2.1% in 24 hours to $2,450, though it holds better than BTC’s 30-day loss at only 4.2%, per CoinMarketCap. DeFi total value locked (TVL) remains steady at $82 billion, a marginal 0.5% drop week-over-week as reported by DefiLlama, indicating sector resilience despite BTC’s dip—check more on DeFi News. The Fear & Greed Index sits at 39 (Fear), down from 45 last week, reflecting cautious sentiment. Analyst Merlijn, in a recent X post, forecasts a potential BTC rally to $124,000 once liquidity returns, urging investors to focus on long-term wave patterns while noting current trend fatigue in BTC’s price action—stay updated via Crypto News.
Yuki covers the intersection of blockchain gaming, NFTs, and digital ownership. Based in Tokyo, she brings insights from the Asian Web3 market and has been tracking GameFi since 2020. She specializes in play-to-earn economics and metaverse developments.
