#欧美关税风波冲击市场 BTC drops below 93,000, ETH loses support at 3,230, the bullish and bearish struggle in the crypto market intensifies. Is it a bottoming opportunity or just waiting on the sidelines?

January 19, 2026, marks a tense moment for the crypto market! Bitcoin (BTC) sharply plunges below the $93,000 level, Ethereum (ETH) declines 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: Both major coins show signs of correction
From a technical perspective, BTC and ETH are both entering correction phases in the short term, with multiple key indicators issuing warning signals that warrant close attention.
1. Bitcoin (BTC): Daily chart turns weak, beware of death cross risk
On the daily chart, BTC has clearly broken below the EMA20 moving average ($92,673.25), and the Supertrend indicator has officially 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 a 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 fight 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 divergence risk, with previous long wick tops indicating significant resistance at the $100,000 mark. Short-term, it’s unlikely to be broken easily, and high-level oscillation is expected to continue.
2. Ethereum (ETH): Lengthening green bars, support levels at risk
ETH’s technical outlook is weaker than BTC’s. It has also broken 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, and the death cross signals are becoming more apparent. Support near zero axis is crucial; once broken, the correction could deepen further. The Bollinger Bands show ETH price falling below the midline, with the opening narrowing, indicating increased market volatility. The short-term support at around $3,180 is critical; 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 an isolated event but a result of macroeconomic and market sentiment factors resonating. Three major bearish factors deserve attention:
1. Changing macro environment: The appointment of a new Federal Reserve Chair has cooled expectations of rate cuts, leading to rising US Treasury yields and a strengthening dollar. Under this backdrop, 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 stock market volatility, further dampen market sentiment.
2. Deteriorating capital sentiment: 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 breaking key support levels can lead to a cascade of sell-offs. Current signs of capital fleeing the market suggest short-term sentiment is unlikely to recover quickly.
3. Regulatory uncertainty: The progress of the US “Clear Act” 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 state of oscillation and correction in the short term.
Bottom fishing or waiting?
The most prudent approach to the current correction is to avoid blindly bottom fishing or panicking to cut losses. Based on short-term volatility and medium- to long-term trends, two operational 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 advisable 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 a 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 a 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 a 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 a stop-loss at $3,150, targeting $3,260–$3,280.
2. Medium-term positioning (daily/weekly): Patience and waiting for stabilization
For medium-term investors, the key strategy is “waiting for stabilization” to avoid premature entry:
- BTC: Focus on the support at the 90,000 USD level. If it holds, consider phased building with a stop-loss below $88,000 and targets at $98,000–$100,000. If broken, it’s better to wait for clearer stabilization signals.
- ETH: Watch the critical support zone at $3,150–$3,180. If it stabilizes, consider phased entries with a stop-loss at $3,100 and targets at $3,350–$3,400. If broken, it’s advisable to exit and wait, avoiding further downside risk. Risk control threshold: whether short-term or medium-term, keep positions within 30% and avoid high leverage at all costs. Stay closely tuned to US stock movements, the dollar index, and ETF fund flows. If macro sentiment worsens, adjust strategies immediately.
Market outlook: oscillation or correction? The key 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 depends mainly on two key signals:
First, whether macro sentiment improves. If expectations of rate cuts re-emerge 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 bullish and bearish 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.