Bitcoin Price Drops to Two-Month Low Amid ETF Outflows
- Price Decline: On January 29, 2026, Bitcoin's price fell to $83,383, marking its lowest level in over two months, a decline attributed to over $1.1 billion in ETF outflows and concerns over rare earth tariffs, highlighting significant market volatility.
- Investor Shift to Precious Metals: Amidst Bitcoin's price drop, investors are increasingly turning to precious metals as safe-haven assets, with analysts noting that in times of uncertainty, capital often rotates towards these more stable investments to safeguard wealth.
- Historical Patterns Resurface: The current decline mirrors previous support levels from February and November 2025, with experts warning that if historical trends repeat, further price decreases could occur, prompting market participants to closely monitor support and resistance levels.
- Bearish Market Sentiment: The prevailing bearish sentiment among investors is driven by ETF outflows and trader sentiment, with historical data indicating that similar trends have significantly impacted digital currencies, necessitating cautious approaches to potential market volatility.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36430 | 48215 | 61165.75 | 72950.75 | 85901.5 | 97686.5 | 110637.25 |
| Fibonacci | 48215 | 57664.056 | 63501.694 | 72950.75 | 82399.807 | 88237.443 | 97686.5 |
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