Bitcoin (BTC) has lastly slid beneath a key assist stage at $84,000, which has held the worth since mid-November 2025. The place will BTC value motion head subsequent?
Key takeaways:
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Bitcoin dropped to a two-month low of $81,00 on Thursday, fueled by $1.6 billion in lengthy liquidations
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Some analysts forecast deeper declines in a chronic bear market concentrating on $50,000-$58,000.
Bitcoin sentiment at document lows suggests “no upcycle”
Bitcoin prolonged its sell-off into the late New York buying and selling session on Thursday, dropping to two-month lows of $81,000.
Assist on the 2026 yearly open ($87,000), the 100-day transferring averages and the $84,000-$86,000 demand zone failed to carry again sellers as crypto lengthy liquidations handed $1.6 billion. Bitcoin worn out greater than $750 million in lengthy positions on its tumble to $81,000.
Associated: Bitfinex Bitcoin longs hit highest stage since late 2023: Is a rally to $100K potential?
The chance-off mode displays destructive investor sentiment, which has dropped to “excessive worry” at 16 from yesterday’s studying of 26.
🚨 UPDATE: Crypto Concern and Greed Index drops to 16, signaling Excessive Concern as market sentiment worsens from yesterday’s studying of 26. pic.twitter.com/TdN5RZo6OR
— Cointelegraph (@Cointelegraph) January 30, 2026
“Bitcoin’s Concern and Greed Index has fallen to 16, signaling excessive worry, ” analysts at Crypto City Corridor mentionedincluding
“Such ranges traditionally mirror heavy risk-off sentiment and capitulation-driven circumstances, typically seen throughout sharp drawdowns or leverage flushes.”
Economist Timothy Peterson identified that client sentiment is approaching document lows, with the “5-year common at an all-time low.”
“Folks simply do not buy Bitcoin or some other danger property in an surroundings like this,” he mentioned in a Friday put up on X, including:
“There is not any upcycle till this reverses.”
As Cointelegraph reported“excessive worry” amongst traders is a mirrored image of “painful” circumstances as these seen after the FTX crashsuggesting uncertainty and an unlikely turnaround in BTC value motion within the close to time period.
Analysts say BTC might backside at $50,000
As Bitcoin sentiment continues to say no, analysts count on bear market circumstances to last more and with cheaper price targets.
These embody a retest of the 200-week transferring averages, which have “typically been nice worth areas for long-term buys,” in line with dealer and analyst Daan Crypto Trades.
“The nearer you’ll be able to accumulate to those MAs, the higher worth you are getting,” the analyst mentioned in a Friday put up on X, including:
“Over time the worth can meet the transferring averages even when it hovers sideways.”
Observe that the 200-week SMA is presently at $57,974, coinciding with the draw back goal of a bear flag as proven within the chart beneath.
Such a transfer would symbolize a 30.5% decline from the present value and a 54% drawdown from the all-time excessive at $126,000.
Fellow analyst Keith Alan highlighted similarities between BTC’s present value motion within the weekly timeframe to that seen in 2021-2022.
Bitcoin may even see some “short-term rallies off of those near-range lows, however in the end I believe this bear market will last more,” he mentioned in his newest evaluation on X.
Alan referred to the $74,500 vary low, reached in April 2025following US President Donald Trump’s “Liberation Day” tariff announcement.
The analyst mentioned the BTC/USD pair will “in the end” drop beneath $74,000 within the absence of a “nice“ catalyst and slide decrease to the 2021 all-time excessive at $69,000.
“I’d prefer it much more if it takes till August to grind down that low,” Alan mentioned, including:
“If we dash down there in February, the $50K vary will look extra fascinating to me later within the 12 months. ”
As Cointelegraph reportedmany analysts count on 2026 to be a bear market 12 months, and numerous forecasts predict the BTC value dropping to as little as $58,000.
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