2020-1-26 11:41 |
China is still impacting Bitcoin, according to analysts, as price action turns negative in the wake of coronavirus and new year celebrations.
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Bitcoin price plunged to $60,000, its biggest single-day fall since the FTX crash. Prices rose to above $66,000 as analysts forecast a potential dead cat bounce. Market sentiment remains in extreme fear.
Key takeaways BTC is down less than 1% as the market remains choppy. The leading cryptocurrency could retest the $87k support level before rallying higher. BTC’s price action remains choppy The cryptocurrency market continues to underperform as BTC and the other leading coins are in the red.
Key takeaways Bitcoin is up 1% in the last 24 hours but continues to trade below $90k. The performance comes despite Trump’s Davos speech on Wednesday, which ended the imposition of new tariffs on European nations against the US purchase of Greenland.
Bitcoin’s bullish price outlook remains, but a retest of support near $90,000 poses a threat to this. The latest price action comes amid a whale move to transfer $84 million in BTC that had been dormant for 12 years.
Crypto Fear and Greed Index hit “greed” for the first time since the $19B October liquidation event. Bitcoin rallied to a two-month high above $97K, helping lift overall crypto market sentiment.
Bitcoin climbed above $97k on a risk-on outlook Gains have also come as Bitcoin ETFs notch huge inflows. Risks include geopolitical escalations. Bitcoin is surging once again after a slow start in 2026, with the latest spike sending BTC to highs of $97,360 amid renewed risk-on sentiment across global markets.
Bitcoin price saw a slight dip and sat near $91,300 at the time of writing. Gains on Tuesday followed bullish news from the MSCI. Will BTC bounce to reclaim $94,000, or will another rejection push prices under $90,000? Bitcoin slipped to below $91,000 after hitting a fresh rejection near the $95,000 resistance level.