Bitcoin slid about 7% on Saturday to around $77,000, with more than $2 billion wiped from the crypto market. It later hovered near $78,690 at publication, according to CoinMarketCap. Analysts are split: some see a bottom between $75,000 and $80,000, while others caution potential declines toward $60,000–$65,000 in 2026.

In the final stretch of January, Bitcoin briefly fell under $80,000 as analysts highlighted roughly $1.3 billion in liquidations within 12 hours. Market expert Burak Kesmeci views $80,000 as both a key technical support and the approximate cost basis for spot Bitcoin ETFs, with January 2026 net outflows already at $1.61 billion. He cautions that a confirmed weekly close below this level could extend downside toward $72,000, $68,000 and $62,000, while a rebound above $90,000 and $95,000, and eventually $100,000, would improve the bullish outlook.

Bitcoin has just recorded its fourth consecutive monthly decline, marking its heaviest red streak since the 2018–2019 bear phase. After hitting an all-time high above $126,000, the price reversed sharply, sliding to nearly $75,000 and closing January with a 10.17% loss. This pattern resembles previous bear-cycle behavior and has reignited debate over whether the current phase can still be called a bull market.

On 1 February 2026, Michael Saylor said that Strategy would not be liquidated on its Bitcoin position even in an extreme scenario where BTC falls to $1. The company holds 712,647 BTC at an average purchase price of $76,038, leaving it about 1.8% above breakeven with Bitcoin trading near the upper $70,000 range. Its exposure is mainly backed by long-dated convertible debt rather than margin-based funding, which Saylor argues keeps forced-selling risk low despite the current market correction.

Bitcoin traded near $78,000 after a 6–7% drop in the past 24 hours, with intraday lows around $76,000–$77,000. Gold and silver also retreated, and over $1 billion in crypto leverage was liquidated. Key areas to watch are $86,000 on the upside and $75,800 to $71,600 below.

The U.S. Department of Justice has finalized the forfeiture of more than $400 million in cryptocurrencies, cash, and real estate connected to the Helix Bitcoin Mixer, concluding litigation against its operator Larry Dean Harmon in January 2026. Helix, active from 2014 to 2017, processed over 354,468 Bitcoin allegedly tied to criminal activity, while Harmon was charged in 2020 and later sentenced in 2024 to prison time, supervised release, and asset forfeiture. The case unfolds amid broader U.S. regulatory action on crypto mixers and a policy shift on criminal enforcement for certain regulatory violations involving exchanges and developers.

Bitcoin fell under key price levels in a move driven by forced unwinds of leveraged long positions rather than retail capitulation. The drop turned former supports into targets, with altcoins reacting more sharply and market structure described as reset, setting up a pivotal test of whether support can hold or fail next.

Bitcoin fell back below the $85,200–$86,200 resistance zone, with MakroVision Research noting a decisive rejection and a return into the prior low’s range. Analyst MartyParty said a CME gap is opening that may be filled by Sunday evening, highlighting short-term volatility risks and scenarios around $81,800, $84,500, and lower liquidation levels near $79,350.