Bitcoin loses the critical support at $84,000, with over $1.6 billion long positions liquidated: Will BTC drop to $50,000?

January 30 News, Bitcoin continued to sell off at the end of the New York session, officially breaking below the key support level of $84,000 that has held since November 2025, with a low of $81,000, hitting a two-month low. Data shows that over the past 24 hours, crypto long liquidation exceeded $1.6 billion, with Bitcoin longs losing up to $750 million, and price momentum clearly weakening.

From a technical perspective, the opening price of 2026 at $87,000, the 100-day moving average, and the demand zone between $84,000 and $86,000 have all been broken, indicating that the medium-term trend has shifted downward. Meanwhile, the Fear & Greed Index dropped from 26 the previous day to 16, returning to the “Extreme Fear” zone. Crypto Town Hall analysis states that such sentiment often appears during capitulation sell-offs, usually accompanied by high leverage liquidations.

On the macro level, pressure remains. Economist Timothy Peterson pointed out that US consumer confidence is near historic lows. In this environment, funds tend to avoid risk assets, and Bitcoin lacks upward momentum in the short term. He believes that unless sentiment improves, “an upward cycle will be difficult to establish.”

Regarding future targets, several analysts have provided lower ranges. Daan Crypto Trades believes the price may retest the 200-week moving average, which is currently around $57,974, seen as a long-term value zone. This level coincides with the downward target of the bear flag pattern, implying about a 30% downside potential from the current price.

Another analyst, Keith Alan, pointed out that the current weekly chart structure is similar to the bear market phase of 2021–2022. He expects that even if a short-term rebound occurs, BTC could still fall below $74,000 and further test $69,000; if the decline accelerates, it may even approach the $50,000 range within the year.

Against the backdrop of multiple uncertainties, 2026 is viewed by many institutions as a “continuation of the bear market.” Whether Bitcoin can stabilize still depends on substantial improvements in macro sentiment and capital flows.