Bitcoin is currently experiencing a downward trend, trading below the 1D50EMA indicator. It briefly dipped under the $90,000 mark and is struggling to maintain its position around this threshold. Recent analyses suggest that Bitcoin’s next support levels could be between $84,500 and $80,500.
The recent price drop has resulted in nearly 150,000 traders being liquidated for over $600 million, with Ethereum leading the way at more than $250 million in liquidations.
As Bitcoin’s value fell beneath the crucial psychological support of $90,000 while gold continues to reach new heights. In just 24 hours, crypto traders faced significant losses exceeding $600 million for the second consecutive day.
The current price chart indicates that Bitcoin (BTC) is trading at approximately $89,652, with a 24-hour volatility of:3.5%. The market capitalization stands at $1.79 T, and the volume over 24 hours amounts to $52.02 B. At present prices near $90,180, it remains just below its 50-day exponential moving average (1D50EMA), which often signifies key trading activity levels as either support or resistance within broader trends. During intraday trading sessions today, Bitcoin reached lows of around $89,825.
According to analysts like CrypNuevo who shared insights in a YouTube video earlier today on January 20th; BTC may head towards another significant level between <$80,500 and $84,500 . These support levels are attracting attention as potential points for liquidity runs and upward rebounds.
This image illustrates Bitcoin’s performance against USD as of January 20th | Source: TradingView.
Total Liquidations Exceeding $600 Million Within One Day
The recent downturn has triggered another wave of liquidations totaling more than **$600 million** within just one day—according to data from CoinGlass—with Ethereum (ETH) taking the lead at about **$250 million**, followed closely by Bitcoin’s own liquidation figure reaching **$187 million**. This marks two consecutive days filled with substantial liquidations but still falls short compared to nearly **$900 million** reported on January19th according to Coinspeaker.
Around **150k cryptocurrency traders have been impacted by these events**, with one notable liquidation amounting to **$6.80M** occurring on Hyperliquid involving ETH/USD pairs alone! Interestingly enough out of those total ETH-related liquidations valued at approximately *$250M*, an overwhelming majority—around *$234M*—came from long positions indicating similar patterns observed across global long positions which contributed up towards *547M* out of total *600M* worths!
This heatmap depicts liquidation data along with totals recorded as per Jan 20 2026 | Source: CoinGlass.
The current market sentiment reflects reactions stemming from macroeconomic uncertainties causing capital flight away from riskier assets such as BTC & ETH toward safer investments like gold/silver which continue their upward trajectories hitting record highs consistently!
Additionally Michael Saylor remains defiant buying into local peaks hinting further declines ahead acquiring recently around twenty-two thousand three hundred five new BTC valued close-to-two billion dollars averaging roughly ninety-five thousand five hundred dollars each coin!
*Disclaimer:* Please note Coinspeaker aims solely provide impartial reporting without bias whatsoever ensuring accuracy timely information presented here should not be construed financial investment advice rather we encourage verification independently consulting professionals prior making decisions based upon content herein provided.*