Various rumors and signals are emerging—what's everyone's take?

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

On January 19, 2026, the crypto market experienced a shocking moment! Bitcoin (BTC) sharply plunged below the 93,000 USD mark, Ethereum (ETH) fell over 3% simultaneously, and the total liquidation volume across the network surged, spreading panic. Is this correction a brief pause in the upward trend or the start of a new wave of decline?
Technical signals turn 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 weakening, beware of death cross risk
On the daily chart, BTC has clearly broken below the EMA20 (92,673.25 USD), and the Supertrend indicator has turned bearish. This indicates that the short-term bullish momentum has been exhausted, and a 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, this 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 USD is heating up. If this level is lost, the next target will be 91,000 USD. The weekly chart also shows potential divergence risks; previous long wick tops suggest significant resistance at the 100,000 USD level, making a quick breakout unlikely. Instead, high-level oscillation is expected in the short term.
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 EMA20 (3,256.8 USD), and the Supertrend indicator has turned bearish. RSI is at 52.3, indicating a neutral-weak bias with insufficient upward momentum. The MACD green bars are lengthening, and the death cross signals are becoming more apparent. Support near the zero line is crucial; if broken, the correction could deepen. The Bollinger Bands show ETH price falling below the midline, with the opening narrowing, indicating increased market volatility. The lower band around 3,180 USD becomes a key short-term support. If broken, it could trigger a move toward 3,150 USD. The hourly chart also shows weak rebounds, with repeated tests of the 3,200 USD support. Failure to hold this level could further worsen market sentiment.

Bearish resonance: macro and regulatory pressures cooling the market
This correction is not isolated 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 dampened expectations of interest rate cuts, leading to higher US Treasury yields and a stronger 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 crypto market sentiment.
2. Deteriorating capital sentiment: Liquidation volumes across the network have been increasing over the past 24 hours, with short positions rising. Market panic is evident. Historically, high leverage liquidations tend to trigger chain reactions, and breaking key support levels could lead to a cascade of sell-offs. Currently, capital is fleeing the market, and short-term sentiment is unlikely to recover quickly.
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 inflows. Without new capital support, the market will struggle to sustain previous upward momentum, likely maintaining a pattern of oscillation and correction in the short term.

Bottom fishing or waiting?
The safest approach to the current correction is to avoid blindly bottom fishing or panicking sell-offs. Combining short-term volatility with medium- and long-term trends, here are two strategies for different risk preferences:
1. Short-term trading (intraday/4-hour): Light positions, strict risk control
For short-term traders, it’s recommended to adopt a "light position" approach, avoiding high leverage:
- BTC short opportunities: When rebounding to 94,000–95,000 USD, if RSI remains below 60 and MACD confirms a death cross, consider small short positions with stop-loss above 95,500 USD (near intraday highs), targeting 92,000–91,000 USD.
- BTC long opportunities: If price stabilizes at 91,900 USD and RSI rises above 50, try small long positions with stop-loss below 91,000 USD, targeting 93,500–94,000 USD.
- ETH short opportunities: When rebounding to 3,270–3,300 USD, if RSI stays below 55 and MACD shows a death cross, consider small shorts with stop-loss above 3,340 USD, targeting 3,200–3,180 USD.
- ETH long opportunities: If price stabilizes at 3,190 USD and RSI rises above 50, try small longs with stop-loss at 3,150 USD, targeting 3,260–3,280 USD.
2. Medium-term positioning (daily/weekly): Patience and waiting for stabilization
For medium-term investors, the key strategy is "waiting for stabilization" before entering:
- BTC: Focus on the 90,000 USD support level. If it holds, consider phased entries with stop-loss below 88,000 USD, targeting 98,000–100,000 USD. If broken, stay on the sidelines and wait for clearer signs of stabilization.
- ETH: Watch the 3,150–3,180 USD support zone. If it stabilizes, consider phased entries with stop-loss at 3,100 USD, targeting 3,350–3,400 USD. If broken, avoid entering to prevent further risk.
Risk control red line: Regardless of short or medium term, keep positions within 30% of total capital, avoiding high leverage. Stay alert to US stock trends, USD index, and ETF fund flows. If macro sentiment worsens, adjust strategies immediately.

Market outlook: oscillation or further decline? The key signals
In the short term, BTC is likely to oscillate between 91,000 and 95,000 USD, while ETH trades within 3,190–3,300 USD.
Market direction depends mainly on two key signals:
First, whether macro sentiment improves—if expectations of Fed rate cuts reignite and US stocks stabilize, capital may flow back into crypto, with BTC potentially challenging 98,000–100,000 USD and ETH testing 3,350–3,400 USD. Second, whether key support levels hold—if BTC falls below 90,000 USD or ETH below 3,150 USD, a deep correction could be triggered, with BTC targets at 88,000–85,000 USD and ETH at 3,100–3,050 USD.
Finally, a reminder: the current market is highly volatile with intense bullish and bearish battles. All operations should prioritize risk management. Use technical indicators and news flow to adjust strategies accordingly, and avoid blindly chasing gains or panic selling.