Bitcoin holds $84,000 — for now — but analysts warn of drop to $70,000 if support fails

Markets Delen Deel dit artikel Kopieer link X icon X (Twitter) LinkedIn Facebook E-mail Bitcoin holds $84,000 — for now — but analysts warn of drop to $70,000 if support fails Thursday's decline showed that, despite hopes for being a macro hedge, bitcoin continues to trade like the riskiest of risk assets when markets turn lower. Door Helene Braun , Krisztian Sandor | Bewerkt door Stephen Alpher 29 jan 2026, 10:03 p..m.. Vertaald door AI Make us preferred on Google Bitcoin (BTC) price on Jan 29 (CoinDesk) What to know : Bitcoin slumped Thursday to its weakest price since November, as crypto markets sold off sharply. The decline was triggered by major U.S. morning declines in gold and stocks, but while those markets rebounded far from their worst levels, crypto saw no such bounce, underscoring the sector’s relative weakness. Analysts say a breakdown to as low as $70,000 for BTC is in the cards. Amid broad traditional market declines, crypto once again was the standout underperformer on Thursday. Modest overnight declines in crypto turned into a major rout in the U.S. morning as the Nasdaq shed more than 2% and gold tumbled nearly 10% from an overnight record. But while both of those markets managed sizable afternoon bounces — the Nasdaq closing with a decline of just 0.7% and gold reclaiming the $5,400 per ounce level — bitcoin and the rest of crypto held not far from session lows. Bitcoin was trading just above $84,000 at press time. Losing almost 6% over the past 24 hours, bitcoin is on the brink of breaking below its two-month range, which could be a prelude to an even deeper pullback. STORY CONTINUES BELOW Mis geen enkel verhaal. Abonneer je vandaag nog op de Crypto Daybook Americas Nieuwsbrief . Bekijk Alle Nieuwsbrieven Schrijf me in By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacybeleid . Other cryptos and related assets were showing similar declines. Ethereum ETH $ 2.818,80 , solana SOL $ 117,48 , XRP XRP $ 1,8094 and DOGE $ 0.1168 , were all roughly 7% lower over the last 24-hour period, while crypto exchange Coinbase (COIN), stablecoin issuer Circle (CRCL) and bitcoin treasury firm Strategy (MSTR) suffered 5%-10% losses. What's next for bitcoin Matt Mena, crypto research strategist at 21Shares, said that holding above the $84,000 support level is "critical" for bitcoin. If that fails, he said, the next target is $80,000, where buyers stepped in in November, and below that comes the $75,000 lows hut during the April 2025 tariff tantrum. Still, the current prices offer a "compelling entry point," Mena said. He still expects bitcoin to hit $100,000 by the end of the first quarter, or even push to a new record of $128,000 if macroeconomic conditions allow it. Other analysts warned of a deeper pullback on the horizon. John Glover, CIO of bitcoin lender Ledn, argued that today’s selloff is part of bitcoin's broader correction from the October record highs. The move could ultimately drag BTC to $71,000, a 43% decline from the early October level of $126,000. With the U.S. being a key source of current market uncertainty, Glover argued, investors are favoring alternative havens like gold and the Swiss franc over traditional safe assets like the U.S. dollar and Treasuries. While many expected bitcoin to act as "digital gold," it is still being treated as a risk asset and selling off with equities, he said. Like Mena, Glover believes the current difficulties won't last. “I do believe this is a somewhat temporary situation and we will see a rebound in BTC prices in the coming quarters," he concluded. "The technical levels have all been taken out on the downside, and I don’t see much support here for bitcoin," Russell Thompson, chief investment officer at Hilbert Group, said. He also believes bitcoin could drop as low as $70,000. "The Clarity markup coming out of the committee is bullish, but there is really just a general risk move here." Bitcoin News Market Wrap Gold Meer voor jou Pudgy Penguins: A New Blueprint for Tokenized Culture Door CoinDesk Research 30 dec 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. Wat u moet weten : 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 Meer voor jou Crypto stocks sink as spot volume plunges and bitcoin tumbles below $84,000 Door Francisco Rodrigues | Bewerkt door Stephen Alpher 3 uur geleden Bellwether crypto exchange Coinbase was lower for an 8th straight session on Thursday to its weakest level since May. Wat u moet weten : Already under severe pressure in January, most crypto-related stocks fell even further Thursday as bitcoin fell back below $84,000. 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