2026-01-21 08:23:18

Bitcoin experienced a rollercoaster today, with a sharp decline followed by a rebound. During the early hours, influenced by a significant drop in Ethereum, the 24-hour decline exceeded 4.6%, spreading panic across the market. Over $1 billion in liquidations occurred across the entire network's contracts. However, the price subsequently found resonance support at the 12-hour Fibonacci 0.618 level (around $87,946) and the weekly 100 moving average, triggering a rebound. As of now, it has been oscillating around $89,600.

The trigger for this decline was risk aversion selling driven by escalating geopolitical risks—funds flowing into safe-haven assets like gold. From a technical perspective, the daily MACD remains in a death cross pattern and has not yet reversed, indicating that bearish momentum still exists. This suggests that the current rebound may just be a temporary correction within a downtrend. The real resistance level is around $90,000, where selling pressure is quite heavy, and market sentiment remains cautious and conservative.

BTC0,53%

ETH1,67%

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quietly_staking

· 14m ago

1 Billion Liquidation, that's why I don't dare to hold a full position --- Once again, strong technical support, but still stuck at 90k? Feels like this resistance level is a bit tough --- Geopolitical risks heat up and people rush to gold, it really feels like the crypto market has become a risk asset --- The rebound is just a cycle, the bears haven't given up yet, let's keep watching the show --- That support level at 87946 was quite accurate, but can it hold next time? I'm a bit skeptical --- Don't be optimistic before the MACD death cross reverses, I think it still needs to fall --- That sharp drop in the early morning was brutal, now at 89600 oscillating, it feels like energy is being accumulated --- Contract liquidation exceeded billion, another feast for the little guys

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FromMinerToFarmer

· 11h ago

10 billion liquidation to feel better, this is what the crypto world should look like --- It's geopolitical risk again, really becoming the perfect excuse to cut leeks --- That 90,000 barrier, feels like it's about to be smashed to pieces again --- Rebound is just a rebound, don't hype it like a savior, MACD death cross is still there --- Fell asleep in the early morning and disappeared directly, no big deal, no big deal --- Gold is making money again, we in the crypto circle are probably the last big fools --- Fluctuating around 89,600, is this called a market? I think it's called "dizzying" --- As long as the bearish energy still exists, then keep falling, anyway I am already numb

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Blockwatcher9000

· 11h ago

1 billion liquidation, this time really intense. Once again, geopolitical turmoil caused everyone to rush into gold. It rebounded again and again, but it still feels fake. Can’t really push past 90,000, right?

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BearMarketBuyer

· 11h ago

1 billion liquidation, this is the dinner for retail investors --- Once again, Fibonacci is used to rescue the market. The technical analysis tools are really becoming less and less effective --- When geopolitical risks arise, everyone rushes to buy gold. The crypto circle is always the last to be remembered --- That 90,000 level feels like it needs to be tested several times before breaking through. Now that there's a rebound, you want to run? That's too naive --- MACD is still showing a death cross. Just treat the rebound as a rebound, don’t overthink it --- That plunge in the early morning was really fierce. Those without stop-losses are definitely bleeding now --- The resistance level is heavy, but as long as it doesn’t make a new low, I will continue to accumulate --- Market cautious? Laughable, probably because there's no money left --- This rebound is just to harvest the bottom-fishing traders. Just watch the show

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MEV_Whisperer

· 11h ago

It's the same old trick. When it drops, they say it's geopolitical risk; when it rises, they call it good news. Anyway, retail investors are just cannon fodder. A liquidation of 1 billion is just the beginning; at this rate, everything will be cleared sooner or later. Can't reach 90000; it feels like this rebound is just a temporary flash. Gold has already risen, and you're still thinking cryptocurrencies can go up? Dream on. Can that support at 87946 really hold? It feels like it could break at any moment.

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MysteryBoxAddict

· 11h ago

1 Billion Liquidation, this wave is really fierce, once again geopolitical risks causing trouble --- Will 90000 be unbreakable again? Every time it gets stuck here --- Rebound is a rebound, don’t lie to me saying it’s going to hit new highs, okay? --- The bears are still here, this wave might really be a trap to lure more, be careful --- Gold is bleeding, the crypto circle has to fall behind again, damn it --- Support levels are quite accurate, but it feels like we need to test again --- MACD has already given a death cross but still dare to say a rebound, I think it’s unlikely --- This kind of market is the most dangerous, looks like it’s rising but actually digging a hole --- 10 billion liquidation, contract brothers will have to eat noodles again --- Cautious and conservative? Basically, it’s just lack of confidence

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