On January 20, news reports indicate that Bitcoin (BTC), under multiple pressures such as rising risk aversion, increased uncertainties related to Greenland tariffs, and whale profit-taking, has consecutively broken through key support levels, temporarily falling near $92,000. Several technical analysts and on-chain data platforms have issued warnings, suggesting that Bitcoin may enter a deeper correction phase.
Senior trader Peter Brandt stated that Bitcoin’s technical structure is reenacting the pattern seen before significant declines in the crypto market. He predicts that BTC could dip to the $58,000 to $62,000 range, an area close to the realized price and the 200-week moving average, which holds strong technical significance. The daily chart shared by Brandt shows that the current pattern is highly similar to previous sharp market corrections.
Analyst Ali Martinez also pointed out that Bitcoin’s price rhythm shows clear resonance with the 2022 cycle. Historical experience indicates that when similar structures appear, the market often undergoes a rapid decline to complete a mid-term correction. Additionally, some analysts noted that a bear flag pattern has emerged on short-term charts, with around $90,000 becoming a critical watershed for bulls and bears.
On-chain data also signals a cautious outlook. As BTC fails to regain stability above $97,000, there are signs of concentrated profit-taking among short-term holders and some large addresses. CryptoQuant’s research shows that the 30-day realized profit and loss indicator for Bitcoin turned negative for the first time since October 2023, indicating some holders are beginning to exit at a loss.
Onchain Lens revealed that some whales have closed long positions and established new short positions, putting short-term market liquidity under pressure. However, Glassnode pointed out that although the price has fallen near $90,000, overall momentum has not yet fully lost control, and the market is more likely to enter a consolidation phase rather than a one-sided decline.
At the time of writing, Bitcoin is trading around $90,800. The subsequent trend will still depend on macroeconomic risk changes, on-chain capital behavior, and ETF capital flows. For medium- and short-term investors, the $60,000 to $70,000 range is gradually becoming a key potential support zone of market interest.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC Short-Term Rise of 0.63%: On-chain Fund Inflows and Long Positions Drive Gains
Between 22:00 and 22:15 (UTC) on March 16, 2026, the BTC spot market experienced a short-term anomaly with a return rate of +0.63%, with the price fluctuating between 74,367.7 and 74,902.8 USDT and a volatility of 0.72%. Market participation significantly increased, volatility intensified, and short-term trading volume compared to the previous period grew by 18.2%, attracting considerable attention.
The main driver of this anomaly was the rapid inflow of large-scale on-chain funds into mainstream exchanges, with net inflows reaching as high as 1,250 BTC, a substantial increase from previous levels. At the same time, the proportion of active buy orders in the spot market rose to 63%.
GateNews11m ago
Bitcoin’s $71K Rally Has a Hidden Risk – Can This Popular Crypto DOGEBALL Outperform Algorand’s $...
The popular crypto market is seeing renewed momentum as Bitcoin’s rally toward $71,000 reveals a deeper trend analysts are watching closely: traders may be overlooking structural signals that typically precede major altcoin rotations. When capital moves from Bitcoin dominance into alternative
BlockChainReporter13m ago
While Gold and Silver Crash, Bitcoin Flashes Strength – Analyst Says This Is the Biggest Wealth Rotation in History
The market is sending mixed signals that have many investors confused. Gold is dumping. Silver is dumping. Stocks are dumping. Yet Bitcoin stands apart, showing relative strength and even pushing toward new highs.
Crypto expert 0xNobler sees something bigger happening beneath the surface.
CaptainAltcoin22m ago
Michael Saylor Warns Quantum Threat Would Break the Internet - U.Today
Michael Saylor argues that quantum computing poses a universal risk beyond Bitcoin, threatening critical global infrastructure. In response to Chamath Palihapitiya's views on AI and market disruptions, Saylor insists that a transition to Post-Quantum Cryptography will protect Bitcoin and other systems together, emphasizing its resilience as "Digital Capital."
UToday46m ago
Man Alleges Wife Stole $172 Million in Bitcoin After 'Covertly Recording' Him
In brief
A now-estranged wife is alleged to have stolen $172 million in Bitcoin from her husband.
A court filing alleges that she used CCTV footage to obtain the seed phrase for a hardware wallet containing the Bitcoin.
After being warned of the potential theft, the husband set up
Decrypt47m ago
IBM Opens Quantum Hardware to Researchers as Bitcoin Security Threat Looms
In brief
IBM expanded its free quantum computing program, increasing runtime and hardware access for researchers.
The company opened its Heron R2 processor to users who were previously limited to entry-level systems.
Advances in quantum research are pushing Bitcoin developers to prepare f
Decrypt1h ago
