Bitcoin (BTC) is undergoing a period of intense selling pressure, marking its sixth consecutive day of decline. After failing to sustain momentum near the \$100,000 milestone earlier this month, the market is currently in a phase of "institutional derisking."
Latest Analysis of Bitcoin (BTC)
Current Price: Approximately \$88,600, a significant drop from the recent peak of roughly \$98,000 on January 17. The price hit an intraday low of \$88,965, reaching its lowest point in over two weeks.
Market Sentiment: The "Fear & Greed Index" has likely shifted toward fear as \$1.7 billion in liquidations occurred across the crypto market today. Analysts at Davos 2026 suggest this is a temporary consolidation driven by geopolitical tensions rather than a loss of long-term value.
ETF Outflows: Bitcoin and Ether ETFs reported combined outflows of \$713 million today, signaling that institutional investors are moving to the sidelines during this period of macro uncertainty.
Key Technical Levels:
Support: Immediate support is being tested at \$84,000 (the November consolidation lower band). If this fails, the next major downside targets are \$74,000 and the 200-week EMA near \$68,000.
Resistance: BTC faces stiff resistance at \$92,800 (yesterday's failed rally attempt) and the psychological \$100,000 barrier, which remains elusive in the near term.
Death Cross Alert: Technical traders are closely monitoring a "Death Cross" (where the 50-day moving average crosses below the 200-day moving average) that has been active since mid-November, continuing to exert bearish pressure on the daily charts.
The following candlestick chart illustrates the sharp reversal from the mid-January highs and the current test of the sub-\$90k support zones.
