At a Glance
- Bitcoin slides to an eight-day low after a failed breakout.
- Technical levels around $90,000 and $360 million in liquidations drive caution.
- Traders focus on 2025-2026 yearly opens and a potential drop below $60,000.
Bitcoin slid to an eight-day low on Tuesday as macro headwinds and technical signals converged. A failed breakout from a multimonth range left traders uneasy, while a re-emergence of US-EU trade tensions added to the uncertainty.
Macro Headwinds and Trade-War Fears
The market reacted to renewed rhetoric from President Donald Trump about controlling Greenland, reigniting fears of a US-EU trade war. Risk assets suffered, and precious metals climbed to new all-time highs as traders sought safe havens. Overnight, liquidations spiked as US futures markets opened to the news.
| Date | Event | Impact |
|---|---|---|
| January 19, 2026 | Trade-war fears revived | $360 million liquidations in 24 hrs |
| Tuesday | Bitcoin drops to 8-day low | Technical breakout fails |
Technical Analysis Highlights
Daan Crypto Trades noted that Bitcoin is fully back in the $84K-$94K range it has occupied for the past two months. The price slid through its 200-period SMA and EMA on four-hour charts, signaling a potential reversal.
> “Now fully back into the $84K-$94K range it has spent the past 2 months in already,” said Daan Crypto Trades on X. “Breakout failed and doesn’t make for a pretty look now.”
Daan highlighted the 2026 yearly open near $87,000 as a support level. He added that the yearly candle rarely shows no wick below, suggesting that the level may be tested soon.
Rekt Capital focused on the 2025 yearly open at $93,500, a key level for the weekly chart. He argued that Bitcoin must reclaim $93,500 throughout the week to confirm a breakout from the weekly range.
> “Bitcoin will need to find a way to reclaim $93,500 throughout the week to ensure this becomes a successful retest to confirm the breakout from the Weekly Range,” wrote Rekt Capital on X.
Liquidity Stress and Liquidations
Exchange order-book data revealed significant stress, with liquidations hitting $360 million in the 24 hours up to the time of writing. The spike followed the opening of US futures markets amid fresh trade-war fears.
A separate analysis by CoinGlass showed that the liquidity grab at the new $80,000 level was still unfolding, with price and liquidation dynamics closely monitored by traders.
Market Sentiment from Key Traders
Keith Alan, cofounder of Material Indicators, pointed to a “death cross” involving the 21-week and 50-week SMAs. He noted that such crossovers have historically led to macro bottoms, though he cautioned that the signal is lagging.
> “If you were caught off guard by the Bitcoin selloff, you simply haven’t been paying attention to the right things. This move had nothing to do with narratives,” said Keith Alan on X.
Alan also watched the 100-week SMA at $86,900 for a potential bounce. Meanwhile, veteran trader Peter Brandt warned of a retreat below the $60,000 mark, the last time Bitcoin traded at that level in October 2024.
> “58k to $62k is where I think it is going,” tweeted Peter Brandt on January 19, 2026. “If it does not go there I will NOT be ashamed, so I do not need to see you trolls screenshot this in the future. I am wrong 50% of the time. It does not bother me to be wrong.”
Key Takeaways
- A failed breakout and trade-war fears pushed Bitcoin to an eight-day low.
- Technical levels near $90,000 and the 2025-2026 yearly opens are under scrutiny.
- $360 million in liquidations added to market stress.
- Traders remain divided, with some expecting a drop below $60,000.
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