Bitcoin’s major safety net just snapped. Why a drop below $85,000 might risk more selloff

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin’s major safety net just snapped. Why a drop below $85,000 might risk more selloff Bitcoin price just fell through that price floor it's been bouncing off for two months. Now charts might be pointing to $75,000 as next level to watch. By Omkar Godbole | Edited by Aoyon Ashraf Jan 29, 2026, 5:06 p.m. Make us preferred on Google How low can bitcoin price go? (Getty Images+/Unsplash) What to know : Bitcoin has fallen decisively below its 100-week simple moving average around $85,000, signaling that sellers have taken control after two months of support at that level. Traders are now watching $75,000 as the next major support zone, where buyers previously stepped in last April to halt a downtrend. A further slide could see bitcoin test its 200-week average near $58,000, while a sustained move above $95,000 would be needed to restore a bullish outlook. In this article XAUT XAUT $ 5,573.90 ◢ 5.28 % Bitcoin just crashed through a price milestone it's been holding on to for two months, and sellers are calling the shots now. That trusty milestone? Bitcoin's average price over the last 100 weeks. Since November, this so-called 100-week simple moving average has consistently acted as a safety net, a level at which buyers have continued to buy every dip for nine weeks straight. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . But today, prices have slipped below $85,000, convincingly moving below the 100-week average line, as seen in the chart below. The breakdown means sellers have overpowered all the buying power around the support, establishing a potential path lower. Next support for BTC is at $75,000? (TradingView/CoinDesk) So, where can the sell-off find the next wave of buyers? In April last year, buyers emerged at around $75,000, stalling the selloff at the time, which makes it a key level to watch now. Below that, the next support is at the 200-week average, which is at $58,000. While chart patterns are popular, they don't always guarantee directional bets — just like any big-picture or fundamentals clue. Smart traders always watch for a key level that, if reclaimed, flips the bearish vibe on its head. Right now, for bitcoin, that’s $95,000, a level where buyers kept getting outbid by sellers early this month and in December. The bullish case comes back to the table if prices surpass that level. More For You Pudgy Penguins: A New Blueprint for Tokenized Culture By CoinDesk Research Dec 30, 2025 Commissioned by Pudgy Penguins Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale. What to know : Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token. The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility. View Full Report More For You Here are key levels to watch as bitcoin plunges to $84,000 By Krisztian Sandor , James Van Straten , Helene Braun | Edited by Stephen Alpher 10 minutes ago While precious metals and stocks bounce from their worst levels of the session, crypto remains near the day's low. What to know : Bitcoin's tumble back to the $84,000 area prompted more than $650 million in liquidations across the crypto market. While gold and stocks have bounced off their worst levels of the session, crypto remains at the day’s lows, prompting questions about how low the price could go. A funding indicator suggested a temporary bottom could be near, while one analyst suggested a turnaround may not come until the Fed gets far looser with monetary policy. 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