Crypto Market News Today, January 28: USD Index Dropping as We Wait For FOMC Results, Bitcoin to Follow Gold?

Ben Graham · January 28

Today, crypto markets are stuck in an awkward pause with so much fud-toned news. Bitcoin USD price is holding its breath, the gold chart keeps running, and each one of us is glued to the incoming FOMC news. With the dollar losing altitude, risk assets are recalibrating.

Under the surface, Polymarket bettors are assigning nearly a 76% probability to a US government shutdown by January 31. And legislative momentum around the US Crypto Clarity Act has slowed, keeping institutions cautious. Now, is there even enough liquidity for the market today?

(source – Polymarket)

The Federal Open Market Committee meeting also delivered no surprises on paper, yet. Rates were held steady at 3.50%–3.75%, brushing aside expectations of an early cut.

Meanwhile, dollar weakness is playing some part in the current market condition. The USD index slipped by almost 3% to 96.09 this week, and more than 10% in the last 12 months. Today, though, the drop is likely fueled by rumors and whispers of yen intervention.

(source – TradingView)

For macro cycles veterans, these are familiar conditions. Before the Plaza Accord in the 1980s, currencies weakened well before official coordination.

FOMC News Reshapes Crypto Movement Today

Safe-haven flows are no longer subtle as Gold USD smashed through an all-time high today of $5,280 per ounce, outperforming the S&P 500’s total return by more than 100% over comparable periods. Most crypto news today is mentioning gold alongside equities as capital hedging macro risk tied to FOMC news.

Even stablecoin issuers are leaning into the same narrative. Tether now reportedly holds over 140 tons of gold, worth $24 billion in current price, more or less, stored in Switzerland. That stash is larger than the reserves of several countries, reinforcing gold’s relevance.

JUST IN: Tether now holds over 140 tons of gold worth $23 billion, the largest known non-sovereign gold stash in the world, stored inside a nuclear bunker. pic.twitter.com/QMZGVK3Tue

— Watcher.Guru (@WatcherGuru) January 28, 2026

At the same time, Bitcoin USD trades around $89,000, up by a litle 1.2% on the day. Comparing gold to Bitcoins, or even USD? You simply cannot compare them. Yes, gold spent years consolidating before exploding higher, while Bitcoin sprinted first and paused later. With gold sitting at a $36 trillion market cap, some argue that crypto and Bitcoin USD still have room to play catch-up; they just need the FOMC news today to turn liquidity-friendly.

Gold is pumping short-term after a decade of accumulation. Bitcoin is accumulating short-term after a decade of Pumping.

DISCOVER: 10+ Next Crypto to 100X In 2026

Bitcoin and Gold USD Diverge, Then Converge?

From a technical angle, Bitcoin USD remains in a medium-term downtrend, facing resistance near $89,250 and finding support closer to $85,000. Momentum traders might see the potential for a higher low, especially if the dollar continues to weaken after key news on FOMC milestones.

Crypto news today supports a cautiously constructive backdrop, with the total crypto market cap rising 1.49% to $3.02 trillion as Bitcoin dominance dipped slightly. On-chain activity shows that Solana-based platforms like Pump.fun are briefly overtaking Hyperliquid in daily revenue, proof that degens are still degening, as they change lanes from derivatives trading to memecoining.

(source – CoinGecko)

Bitcoin mining stocks like Applied Digital jumped 14%, IREN gained 9%, and some followed suit. The Crypto Fear & Greed Index also improved, climbing from extreme fear into the fear zone.

Bernstein’s call for tokenization as a game-changer adds a longer-term frame. Crypto news today remains tethered to macro gravity, and FOMC news pressures the dollar. Gold keeps leading the dance, and Bitcoin USD waits.

Bernstein (Gautam Chhugani): tokenization is a “game changer” because it starts touching the core plumbing of finance: origination, financing, and trading across credit and equities. The thesis isn’t hype, it’s friction: platforms that compress costs and cycle times can… pic.twitter.com/ytYdGnyv3K

— PBG (@PBGtoken) January 27, 2026

Crypto is being shaped by one theme today: news uncertainty. TL;DR, Bitcoin USD pumps a bit, but not at a happy point yet, while gold pushes into record territory.

DISCOVER:

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