Summary of this Round of Bearish Views: Bitcoin's key support level is $80,000, with the final bottom predicted to be as low as $58,000

January 26: Bitcoin fell below $87k early this morning, dropping over 10% since January 14 with no signs of a market recovery in sight. When will the decline end, and where will the eventual bottom land? BlockBeats has compiled key analysis points from before and after this latest drop below: ### Key Analyst Takes - **Placeholder VC Partner Chris Burniske**: Says he’s not buying Bitcoin right now — instead, he’s watching critical support levels: $80k, $74k, $70k, $58k, and $50k+ below. Short-term swings aren’t his focus. If prices rebound, hold and gradually diversify; if there’s a deep retracement, view it as an opportunity to add to Bitcoin and high-quality crypto positions. - **Bloomberg Intelligence’s Mike McGlone**: Wrote, “Ethereum looks set to test the lower end of its $2,000–$4,000 range since 2023. I think the risk of it falling below $2,000 is higher than reclaiming $4,000, especially as stock market volatility picks back up.” - **Trader Eugene Ng Ah Sio**: “I don’t really get the latest price action this week, so I’m sitting on the sidelines for a bit. From a higher time frame (HTF) view, the structure isn’t ideal — my read is prices will likely keep falling. I was hoping early-year momentum would push Bitcoin above $100k and catch up to other risk assets, but that scenario looks unlikely now. I’m exiting all markets temporarily.” - **Trader Merlijn The Trader**: Notes Bitcoin’s support sits around $84k: a cost distribution heatmap shows investors accumulated ~941,651 BTC near this level over the past six months. The next key support is ~$80k, with historical data showing ~127,000 BTC bought in that range previously. - **Crypto Influencer Benson Sun**: “Trump pulled a ‘TACO’ again (Trump Abandoned the Campaign Onsite) — U.S. stocks have recovered to their pre-drop starting point, but Bitcoin is still well below its starting position. Right now, off-exchange funds still lack interest in BTC, making a $100k breakout tough. The next trend may trade in a wide $85k–$95k range. Longs shouldn’t be rigid; focus on flexible trading.” - **Bear Market 2026 Forecasts**: Multiple analysts predict 2026 could be a Bitcoin bear market year, with several calling for BTC to drop to ~$58k. Crypto analyst Titan of Crypto recently said: “Bitcoin just flashed a bear market signal” — based on a bearish MACD cross on the two-month timeframe. He noted similar patterns historically lead to 50%–64% retracements.