Breaking News! BTC drops below 93,000, ETH loses support at 3,230, and the bullish and bearish forces in the crypto market are intensifying. Is it a bottoming opportunity or a wait-and-see moment?

January 19, 2026 — The crypto market experiences a shock! Bitcoin (BTC) sharply plunges below $93,000, Ethereum (ETH) declines over 3% simultaneously, and the liquidation volume across the network surges, spreading panic sentiment. Is this correction a brief pause in the upward trend or the start of a new wave of decline?
Technical Indicators Signal Red Flags: Both Major Coins Show Correction Signs
From a technical perspective, BTC and ETH are both entering correction phases in the short term, with multiple key indicators issuing warning signals that warrant close attention.
1. Bitcoin (BTC): Daily Chart Turns Weak, Watch for Death Cross Risks
On the daily chart, BTC has clearly broken below the EMA20 (92673.25 USD), and the Supertrend indicator has turned bearish. This suggests that short-term bullish momentum has been exhausted, and a correction cycle has officially begun. The RSI stands at 59.83, still in neutral territory but showing a downward trend with insufficient upward momentum. More critically, the MACD shows signs of forming a death cross; once confirmed, it will likely accelerate the price decline. Multiple timeframes resonate with this bearish outlook: the hourly chart shows a clear downtrend, with prices falling along short-term moving averages. Each rebound appears weak, and the battle around 92,000 USD is heating up. If this level is lost, the next target is likely 91,000 USD. The weekly chart also shows potential bearish divergence, with long upper wicks indicating strong resistance at the 100,000 USD level. Short-term, it’s unlikely to break through easily and may remain volatile at high levels.
2. Ethereum (ETH): Lengthening Green Bars, Support at Risk
ETH’s technical pattern is weaker than BTC’s. The daily chart shows it also breaking below the EMA20 (3256.8 USD), with the Supertrend turning bearish. RSI is at 52.3, indicating a neutral-weak bias with insufficient upward momentum. The MACD green bars are lengthening, and the death cross signals are becoming more evident. Support near zero line is crucial; if broken, further correction could ensue. The Bollinger Bands show ETH price falling below the midline, with the band narrowing, indicating increased market volatility. The lower band around 3,180 USD is a key short-term support; if breached, it could trigger a move toward 3,150 USD. The hourly chart also shows weak rebounds, with repeated tests of the 3,200 USD support. Failure to hold this level could worsen market sentiment.
Bearish Confluence: Macro and Regulatory Pressures Dampen Market Sentiment
This correction isn’t isolated but results from macroeconomic and market sentiment factors resonating together. Three major bearish factors deserve attention:
1. Changing Macro Environment: The appointment of a new Federal Reserve Chair has cooled expectations of rate cuts, leading to rising US Treasury yields and a strengthening dollar. Under this backdrop, risk assets globally are under pressure. As high-risk assets, Bitcoin and Ethereum naturally decline in tandem. Additionally, ongoing US-EU tariff tensions and increased stock market volatility further dampen crypto market sentiment.
2. Deteriorating Capital Sentiment: Liquidation volume across the network continues to rise over the past 24 hours, with short positions increasing. Market panic is intensifying. Historically, high leverage liquidations often trigger chain reactions, and breaking key support levels could lead to a cascade of sell-offs. Capital outflows are evident, and short-term sentiment is unlikely to recover quickly.
3. Regulatory Uncertainty: The progress of the US “Clear Law” bill remains uncertain within the year. Regulatory disagreements directly impact institutional inflows, and without new capital support, the market’s previous upward momentum is hard to sustain. Expect a likely sideways correction in the near term.
Bottom Fishing or Wait-and-See?
The safest approach during this correction is to avoid blindly bottom-fishing or panicking into selling. Based on short-term volatility and medium-to-long-term trends, here are two strategies for different risk appetites:
1. Short-term Trading (Intraday/4H): Light Positions, Strict Risk Control
For short-term traders, focus on “light trading” and avoid high leverage:
- BTC Short Opportunities: When rebounding to 94,000–95,000 USD, if RSI remains below 60 and MACD confirms a death cross, consider small short positions with a stop-loss above 95,500 USD (near intraday highs), targeting 92,000–91,000 USD.
- BTC Long Opportunities: If price stabilizes around 91,900 USD and RSI rises above 50, try small long positions with a stop-loss below 91,000 USD, targeting 93,500–94,000 USD.
- ETH Short Opportunities: When rebounding to 3,270–3,300 USD, if RSI stays below 55 and MACD shows a death cross, consider small shorts with a stop-loss above 3,340 USD, targeting 3,200–3,180 USD.
- ETH Long Opportunities: If price stabilizes around 3,190 USD and RSI rises above 50, try small longs with a stop-loss at 3,150 USD, targeting 3,260–3,280 USD.
2. Mid-term Positioning (Daily/Weekly): Patience and Wait for Stabilization
For medium-term investors, the key is “waiting for stabilization” before entering:
- BTC: Focus on the 90,000 USD support level. If it holds, consider phased entries with stops below 88,000 USD and targets at 98,000–100,000 USD. If broken, stay on the sidelines and wait for clearer signs of stabilization.
- ETH: Watch the 3,150–3,180 USD support zone. If it holds, consider phased entries with stops at 3,100 USD and targets at 3,350–3,400 USD. If broken, avoid entering to prevent further downside risk.
Risk control tip: Regardless of short or medium term, keep positions within 30% and avoid high leverage. Monitor US stock trends, the US dollar index, and ETF fund flows closely. If macro sentiment worsens, adjust strategies immediately.
Market Outlook: Sideways or Downtrend? The Key Signals
In the short term, BTC is likely to oscillate between 91,000 and 95,000 USD, while ETH trades within 3,190–3,300 USD.
Market direction depends mainly on two key signals:
First, whether macro sentiment improves. If expectations of rate cuts re-emerge and US stocks stabilize, capital may flow back into crypto, with BTC potentially challenging 98,000–100,000 USD and ETH testing 3,350–3,400 USD.
Second, whether key support levels hold. If BTC falls below 90,000 USD or ETH below 3,150 USD, it could trigger a deep correction, with BTC targets at 88,000–85,000 USD and ETH at 3,100–3,050 USD.
Final Reminder: The current market is highly volatile with intense bullish and bearish battles. Risk management should always come first. Adjust strategies based on technical indicators and news developments, and avoid blindly chasing gains or panic selling.