Bearish signal? Bitcoin breaks $84K with $76K in sight

Bitcoin falls below $84K after repeated resistance, with analysts warning of a possible drop to $76K under increasing macro and market pressure.

If you end up below $84,000, caution is advised

Crypto analyst Dami-Defi said Bitcoin has faced “multiple rejectionsnear $94,000 – $97,000, a zone that has functioned as resistance more than once. After another failed breakout, the price fell below $84,000, a level that had been maintained since November.

Dami-Defi added that a daily or weekly close below $84,000 could lead to further losses. The next area of ​​strong support is between $74,000 and $76,000.

They also mentioned that this decline appears to be part of a larger market trend and not limited to crypto alone, signaling a broader shift in risk appetite in the financial markets.

Previous cycles point to a possible deeper decline

Some analysts believe this decline could reflect previous bear market cycles. Aralez, a market observer, said Bitcoin fell 84% in 2018 from its previous high. A similar move in this cycle, based on an expected peak of $126,000 in 2025, could push the price to $32,000 in 2026.

🚨 WARNING:$BTC is preparing for a massive dump to ~$32,000

Every cycle, history repeats itself:

– 2017: $19k PEAK → 2018: -84.1%
– 2021: $69k PEAK → 2022: -77.4%
– 2025: $126k PEAK → 2026: -72.2%

Things are about to get even worse – bookmark it… pic.twitter.com/d5JTb8WRyV

— Aralez 🐕 (@0xAralez) January 29, 2026

The market has been experiencing sharp losses lately, with Bitcoin down more than 6% in the past 24 hours. More than 274,000 traders were liquidated, for a total of nearly $2 billion (according to CoinGlass data).

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As a result, the price briefly reached levels not seen since April, moving within a daily range of $81,300 to $88,300. At the time of writing, CoinGecko lists Bitcoin at just over $82,600.

In addition to the price action, reports of rising tensions in the Middle East could put pressure on the crypto market. The deployment of the Abraham Lincoln Carrier Strike Group near Iran has raised concerns about the escalation of the conflict.

At the same time, there are reports that President Trump may nominate Kevin Warsh will lead the Federal Reserve. Warsh has spoken positively about crypto in the past, but traders responded with caution.

Some still see a bullish stance

Not all market watchers expect a deep decline. Analyst Eggag Crypto said that Bitcoin’s larger structure still looks stable. They noted that the price is above the 21-month EMA and is in an ascending channel.

They explained that a move to $62,000 could be part of a regular market move in an uptrend.

“Only bearish if BTC accepts below at monthly closes,” they said.

Egrag sees a 60%-65% chance that Bitcoin will reach $200,000 before a major correction occurs.