Bitcoin under bearish pressure: analysis of critical levels

According to data from Swissblock reported by Foresight News, Bitcoin is facing an environment of increasing bearish pressure. The current analysis reflects a decline in market confidence, with the asset’s price showing sustained weakness against key resistance levels. With Bitcoin trading at $77,780 (as of February 2, 2026), the cryptocurrency is under obvious selling pressure, with a bullish market sentiment of just 50%.

Bearish Break Below the $89,200 Level

Bitcoin failed to maintain the critical support at $89,200, a level that served as an important defensive barrier for buyers. The loss of this level marked a turning point in market dynamics, intensifying signals of technical weakness. This break triggered a notable increase in the risk index, reflecting growing uncertainty among market participants.

The price falling below this historic level has caused a cascade of liquidations, worsening the bearish pressure. Swissblock analysts emphasize that this break is significant, as it represents the loss of a support that had contained previous corrections.

Critical Defense Zones for the Bulls

Buyers are now focusing their defensive efforts on the $84,500 region, which represents the last line of resistance to the downside in the short term. This level is particularly important because, if it holds, it would allow for an orderly liquidation of positions without causing additional panic in the market.

If the price stabilizes at $84,500 and the risk index begins to show signs of stabilization, there would be an opportunity for long-positioned investors to re-enter with greater confidence. This scenario would require a confluence of factors: technical recovery, liquidity absorption, and a shift in overall sentiment.

However, the current reality shows that Bitcoin has already fallen significantly below these initially analyzed levels, now at $77,780. This situation amplifies the risk of a deeper correction.

Price Scenarios and Risk Outlook

If the defense at $84,500 collapses and the price consolidates below this level, a sharper corrective move targeting new lows below $74,000 could be triggered. This scenario would reflect an intensification of the downward trend, with potential cascading effects across the entire crypto ecosystem.

Conversely, a rebound from the current levels (near $77,780) opens the possibility for the bulls to regain initiative. In such a case, the psychological resistance at $84,500 would again be crucial to confirm a change in sentiment. Swissblock emphasizes that any recovery attempt must be accompanied by a significant decrease in the risk index to validate a structural change in market behavior.

The current environment, dominated by a bearish outlook, requires participants to constantly monitor these technical levels. The expected volatility in Bitcoin suggests that clarity on the direction may not arrive until it is clearly defined which of these scenarios materializes in the upcoming period.