2026-01-21 00:20:54

BTC has recently faced significant pressure, with the price breaking below the 90,000 mark. The latest data shows that a whale transfer from 12 years ago moved 84 million in assets. Coupled with external pressure from a weakening US stock market, the price has fallen 3.78% within 24 hours, currently seeking support around 89,625.

From a technical perspective, the key support level is at 86,000 (50-week moving average). If this level is broken, downward pressure will shift towards 85,000. In the short term, 92,000 has become a clear area of resistance, making a breakout quite challenging. The daily chart shows a quite clear bearish signal, and bulls need a stronger rebound to turn the situation around.

Interestingly, institutional sentiment remains cautious but not pessimistic. ETF inflows are still ongoing, nearing 1.2 billion, indicating that institutions have not abandoned their bottom-positioning. However, whether this force can withstand the ongoing technical downward pressure remains to be seen over time.

The current issue is that the market has reached a crossroads. Will it gradually accumulate during a pullback, or wait for confirmation of the deeper support at 85,000? Each trader’s answer may differ.

BTC-2,02%

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MissedTheBoat

· 9h ago

It dropped again... It seems like institutions are quietly accumulating --- 85,000 is the real support, but it's still early --- How is the whale from 12 years ago still alive? Scary --- Let's wait and see. If 92,000 can't be broken, it's time to prepare for a full exit --- ETFs are buying, I'm selling. This time I bet correctly --- Anyway, I cut my losses. Let's see if it drops to 85,000 --- It's good that institutions are not pessimistic, at least there are still people taking over --- Every time it's called a crossroads, but in the end, it just keeps falling

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StakeOrRegret

· 9h ago

Whales are using the old trick of selling, but institutions are still buying... Can this wave hold until 86,000?

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ApeDegen

· 9h ago

When the whales make a move, retail investors have to run. This trick has been played for so many years and is still so ruthless. Institutions are accumulating, while we're cutting losses. The difference in mindset is clear. 85,000 is the real test of strength. Talking about support now is just empty talk. If it can't break 92,000, then we really need to consider going all in cash and waiting for signals. If this wave drops to 85,000 and can't hold steady, I'll just lie down and stop watching the market.

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