📉 Bitcoin breaks supports: Market floor or liquidity trap?
Euphoria has dissipated in 24 hours. Bitcoin has broken the psychological level of $84,000, dragging the rest of the market down after a massive liquidation of $1.6 billion in long positions. Uncertainty about the new leadership of the Fed and the outflow of $817 million from BlackRock's ETFs have changed the sentiment to "Extreme Fear" (16/100).
Bitcoin (BTC): Trading at $82,450 (-6.5%). The vital support that separates the consolidation from a bearish market is at $81,000. If that wall falls, the next technical stop is at $78,500.
Ethereum (ETH): Plummets 7.5% to $2,726. After losing $2,800, the price is desperately seeking support in the $2,640 zone to avoid a larger capitulation.
Immediate watch points:
The barrier of $81,000: A daily close below this level would invalidate the bullish structure of January. Those seeking stability are waiting for lateral consolidation in this range before deciding on new entries.
Leverage at risk: With 93% of liquidations affecting buyers, the market is "cleaning" the excess debt. Patience often rewards more than trying to guess the exact floor.
Macro Context: The strength of the dollar (DXY) is suffocating risk assets. As long as the dollar does not pull back, any bounce in cryptos could be an exit opportunity for large whales.