{"id":6247,"date":"2026-02-02T07:29:34","date_gmt":"2026-02-02T07:29:34","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=6247"},"modified":"2026-02-02T07:29:34","modified_gmt":"2026-02-02T07:29:34","slug":"bitcoin-breaks-key-support-as-bears-circle-below-80k","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=6247","title":{"rendered":"Bitcoin Breaks Key Support as Bears Circle Below $80K"},"content":{"rendered":"<p><\/p>\n<div>\n<div id=\"blockquote-block_577fbf34348c5f105a3042974ab0f147\" class=\"blockquote-container\" style=\"border-color: #5100fc\">\n<div class=\"blockquote-text\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bitcoin fell below $80,000 on Monday, dropping as low as $75,644 as it broke under its 21-week moving average\u2014a key technical level that often signals a bear market.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Over $2.5 billion in liquidations hammered the market over the weekend, making it the 10th-largest wipeout in history as Bitcoin fell 17% from its $90,000 January highs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">$1.82 billion exited spot ETFs in just five days, marking a massive sentiment shift from mid-January when the market saw record-breaking inflows.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>Bitcoin (BTC) held below US$80,000 (AU$122,400) on Monday after a more than 6% slide the previous day, with data from ETFs, derivatives, and on-chain metrics pointing to a move driven by leverage and thinning liquidity.<\/p>\n<p>On the weekly chart, BTC has lost the 21-week exponential moving average, a level whose breakdown preceded earlier bear markets.\u00a0<\/p>\n<figure class=\"wp-block-image size-full variant-no-border\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1175\" height=\"554\" alt=\"\" class=\"wp-image-132733 lazyload\" sizes=\"(max-width: 1175px) 100vw, 1175px\" src=\"https:\/\/cdn.cryptonews.com.au\/2026\/02\/02155137\/image-1.png\" srcset=\"https:\/\/cdn.cryptonews.com.au\/2026\/02\/02155137\/image-1.png 1175w, https:\/\/cdn.cryptonews.com.au\/2026\/02\/02155137\/image-1-768x362.png 768w\" data-eio-rwidth=\"1175\" data-eio-rheight=\"554\"\/><img decoding=\"async\" width=\"1175\" height=\"554\" src=\"https:\/\/cdn.cryptonews.com.au\/2026\/02\/02155137\/image-1.png\" alt=\"\" class=\"wp-image-132733\" srcset=\"https:\/\/cdn.cryptonews.com.au\/2026\/02\/02155137\/image-1.png 1175w, https:\/\/cdn.cryptonews.com.au\/2026\/02\/02155137\/image-1-768x362.png 768w\" sizes=\"(max-width: 1175px) 100vw, 1175px\" data-eio=\"l\"\/><figcaption class=\"wp-element-caption\">BTC\/USD. Source: TradingView.<\/figcaption><\/figure>\n<p>Analyst Rekt Capital noted that BTC has already fallen about 17% from roughly US$90,000 (AU$137,700) to US$78,000 (AU$119,340) since the latest bull-market EMA crossover:<\/p>\n<div id=\"blockquote-block_25a9877c6fa02a29803de5ad12d0f569\" class=\"blockquote-container variant-personal\">\n<div class=\"blockquote-text\">\n<p><em>So far, history is repeating, with downside occurring after the Bull Market EMA crossover. Bitcoin has dropped -17% from $90,000 to $78,000 since the crossover took place. History suggests that additional downside continuation over time lays ahead.<\/em><\/p>\n<\/div>\n<div class=\"blockquote-attribution\">\n        <img decoding=\"async\" class=\"author-image lazyload\" src=\"https:\/\/cdn.cryptonews.com.au\/2024\/05\/02160147\/RektCapital.jpg\"\/><img decoding=\"async\" src=\"https:\/\/cdn.cryptonews.com.au\/2024\/05\/02160147\/RektCapital.jpg\" class=\"author-image\" data-eio=\"l\"\/>        Rekt Capital    <\/div>\n<\/div>\n<p>To make matters worse, CryptoBullet pointed to Bitcoin\u2019s drop below the 21-week exponential moving average, a breakdown that preceded earlier bear markets.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<p>Looking at on-chain data, CryptoQuant data shows spot trading below the realised price for holders who last moved coins 12\u201318 months ago, meaning this cohort is now underwater.<\/p>\n<p><strong>Related: SEC Chair Walks Back Timeline on Sweeping Crypto Exemptions After Wall Street Pushback<\/strong><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-liquidity-squeeze-and-forced-selling\">Liquidity Squeeze And Forced Selling<\/h2>\n<p>Unsurprisingly, US-listed spot Bitcoin and Ether ETFs saw steady outflows, as investors withdrew about US$1.82 billion (AU$2.78 billion) from spot crypto ETFs over five trading days, including roughly US$1.49 billion (AU$2.28 billion) from Bitcoin products and US$327 million (AU$500 million) from Ether funds.\u00a0<\/p>\n<p>The redemptions reversed a brief spike in demand in mid-January, when Bitcoin rose around 7% in two days and spot Bitcoin ETFs booked their largest single-day inflow of 2026 at US$840.6 million (AU$1.29 billion), alongside a jump in the Crypto Fear &amp; Greed Index.<\/p>\n<p>Analysts are pointed to three rapid liquidation waves totaling about US$1.3 billion (AU$1.99 billion) within 12 hours, but broader data from CoinGlass showed total liquidations briefly topping US$2.5 billion (AU$3.83 billion), making the move the 10th-largest daily wipeout on record and still well below the October 10 crash, when more than US$19 billion (AU$29.1 billion) was erased in 24 hours.<\/p>\n<p>With BTC\/USD trading under the \u201ctrue market mean\u201d at US$80,700 (AU$123,471), traders are watching lower zones. One widely followed liquidity map flags US$74,400 (AU$113,832) and US$49,180 (AU$75,245) as key downside targets for the current bear phase.<\/p>\n<p><strong>Read more: Why 75% of APAC Investors Still Avoid Crypto: New Data Upends Adoption Myths<\/strong><\/p>\n<\/p><\/div>\n<p>Bitcoin,ETFs#Bitcoin #Breaks #Key #Support #Bears #Circle #80K1770017374<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin fell below $80,000 on Monday, dropping as low as $75,644 as it broke under its 21-week moving average\u2014a key technical level that often signals a bear market. Over $2.5 billion in liquidations hammered the market over the weekend, making it the 10th-largest wipeout in history as Bitcoin fell 17% from its $90,000 January highs.<\/p>\n","protected":false},"author":1,"featured_media":6248,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[2079,936,91,232,1677,1562,155],"class_list":{"0":"post-6247","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-80k","9":"tag-bears","10":"tag-bitcoin","11":"tag-breaks","12":"tag-circle","13":"tag-key","14":"tag-support"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Breaks Key Support as Bears Circle Below $80K - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=6247\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Breaks Key Support as Bears Circle Below $80K\" \/>\n<meta property=\"og:description\" content=\"Bitcoin fell below $80,000 on Monday, dropping as low as $75,644 as it broke under its 21-week moving average\u2014a key technical level that often signals a bear market. 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