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VanEck Flags Risk-On Start to 2026, Cautions on Bitcoin as Price Hovers Near $92,000

The firm says bitcoin’s broken cycle makes near-term signals hard to trust.

Overview

  • VanEck’s Q1 2026 outlook, published Jan. 12, highlights clearer visibility on fiscal and monetary policy as a tailwind for risk-taking.
  • The firm points to U.S. deficits shrinking as a share of GDP, which it says is helping stabilize longer-term interest rates.
  • VanEck contends bitcoin’s four-year pattern “broke in 2025,” prompting a cautious three- to six-month view, though some inside the firm are more constructive.
  • Bitcoin has decoupled from equities and gold since an October deleveraging event, weakening traditional correlation-based positioning.
  • BTC retested $92,000, and analyst Michaël van de Poppe predicts a move to $100,000 within ten days if that level is cleared decisively.