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#欧美关税风波冲击市场 BTC drops below 93,000, ETH loses support at 3,230, and the crypto market's bulls and bears are intensifying. Is it a bottom-fishing opportunity or just watching from the sidelines?
January 19, 2026, marks a shocking moment for the crypto market! Bitcoin (BTC) sharply plunges below the $93,000 mark, Ethereum (ETH) drops over 3% simultaneously, and the total liquidation volume across the network surges, spreading panic. Is this correction a brief pause in the upward trend or the start of a new round of decline?
Technical indicators flashing red: Two major cryptocurrencies show signs of correction
From a technical perspective, both BTC and ETH are entering short-term correction cycles, with multiple key indicators issuing warning signals that warrant close attention.
1. Bitcoin (BTC): Daily chart turns weak, caution for death cross risk
On the daily chart, BTC has clearly broken below the EMA20 moving average ($92,673.25), and the Supertrend indicator has turned bearish. This indicates that short-term bullish momentum has been exhausted, and the correction cycle has officially begun. The RSI is currently at 59.83, still in the neutral zone but showing a downward trend, with upward momentum clearly lacking; more critically, the MACD shows signs of forming a death cross. Once confirmed, it will likely accelerate the price decline. From a multi-timeframe perspective, the hourly chart shows a clear downward trend, with prices moving below short-term moving averages. Each rebound appears weak, and the battle around $92,000 has become intense. If this level is lost, the next target will be directly at $91,000. The weekly chart also shows a potential bearish divergence, with previous long upper wicks indicating strong resistance at the $100,000 level. Short-term, it’s unlikely to break through easily, and high-level oscillation is expected to continue.
2. Ethereum (ETH): Lengthening green bars, support levels at risk
ETH’s technical pattern is weaker than BTC’s. The daily chart also shows a break below the EMA20 at $3,256.8, and the Supertrend indicator has turned bearish. The RSI is at 52.3, showing a neutral to weak pattern with insufficient upward momentum. The MACD green bars are lengthening, with increasing signs of a death cross. Support near zero line is crucial; once broken, the correction could deepen further. The Bollinger Bands show ETH’s price has fallen below the midline, with the opening narrowing, indicating increased market volatility. The lower band around $3,180 is a key short-term support. If broken, it could trigger a move down to $3,150. The hourly chart also shows weak rebounds, with repeated tests of the $3,200 support. If this level cannot hold, market sentiment may further deteriorate.
Bearish resonance: macro and regulatory pressures
This correction in the crypto market is not isolated but a result of macroeconomic and market sentiment resonance. Three major bearish factors deserve attention:
1. Changing macro environment: The appointment of a new Federal Reserve Chair has dampened expectations for rate cuts, leading to rising US Treasury yields and a strengthening dollar. Under this background, risk assets globally are under pressure. As representatives of high-risk assets, Bitcoin and Ethereum naturally decline in tandem. Additionally, ongoing trade tensions between the US and Europe, along with increased global stock market volatility, further dampen crypto market sentiment.
2. Deteriorating capital sentiment: The total liquidation volume across the network has been increasing over the past 24 hours, with short positions rising. Market panic is intensifying. Historically, concentrated liquidations of high-leverage positions often trigger chain reactions, and once key support levels are broken, a cascade of sell-offs may occur. Current signs show capital fleeing the market, making a quick recovery unlikely in the short term.
3. Regulatory uncertainty: The progress of the US “Clear Law” bill is closely watched, but its passage within the year remains uncertain. Regulatory disagreements directly impact institutional capital inflows. Without additional capital support, the market will struggle to sustain previous upward momentum, likely remaining in a volatile correction phase.
Bottom-fishing or waiting?
The most prudent approach to the current correction is to avoid blindly bottom-fishing or panicking sell-offs. Based on short-term volatility and medium- to long-term trends, two strategies are recommended for investors with different risk preferences:
1. Short-term trading (intraday/4-hour): Light positions, strict risk control
For short-term traders, it’s advised to adopt a “light trading” approach, avoiding high leverage:
- BTC short opportunities: When rebounding to $94,000–$95,000, if RSI remains below 60 and MACD confirms a death cross, consider small short positions with stop-loss above $95,500 (near intraday highs), targeting $92,000–$91,000.
- BTC long opportunities: If the price stabilizes at $91,900 and RSI rises above 50, try small long positions with stop-loss below $91,000, targeting $93,500–$94,000.
- ETH short opportunities: When rebounding to $3,270–$3,300, if RSI stays below 55 and MACD shows a death cross, consider small shorts with stop-loss above $3,340, targeting $3,200–$3,180.
- ETH long opportunities: If the price stabilizes at $3,190 and RSI rises above 50, try small longs with stop-loss at $3,150, targeting $3,260–$3,280.
2. Medium-term positioning (daily/weekly): Patience and stabilization before action
For medium-term investors, the key strategy is “waiting for stabilization” to avoid premature entry:
- BTC: Focus on the $90,000 support level. If it holds, consider phased building with stop-loss below $88,000, targeting $98,000–$100,000. If broken, stay on the sidelines and wait for clearer stabilization signals.
- ETH: Watch the critical support zone at $3,150–$3,180. If it stabilizes, consider phased entries with stop-loss at $3,100, targeting $3,350–$3,400. If broken, avoid further risk by exiting.
Risk control red line: Regardless of short-term or medium-term, keep positions within 30% of total capital and avoid high leverage. Stay alert to US stock trends, the US dollar index, and ETF fund flows. If macro sentiment worsens, adjust strategies immediately.
Market outlook: Volatility or correction? The key depends on these two signals
In the short term, BTC is likely to oscillate between $91,000 and $95,000, while ETH trades within $3,190–$3,300.
Market direction hinges on two critical signals:
First, whether macro sentiment improves—if expectations for rate cuts reignite and US stocks stabilize, capital may flow back into crypto, with BTC potentially challenging $98,000–$100,000, and ETH testing $3,350–$3,400. Second, whether key support levels hold—if BTC falls below $90,000 or ETH below $3,150, a deep correction could be triggered, with BTC targets at $88,000–$85,000 and ETH at $3,100–$3,050.
Final reminder: The current market is highly volatile with intense bulls and bears battles. All operations should prioritize risk management. It’s recommended to adjust strategies based on technical indicators and news developments, avoiding blindly chasing gains or panic selling.