Bitcoin Pressure Mounts as Bears Target $74,500 Support
By John Nada·Jan 30, 2026·2 min read
Bitcoin's drop below $84,000 raises concerns of a further decline, with analysts eyeing the crucial support at $74,508. Major altcoins like ETH and DOGE also face challenges.
Bitcoin's recent dip below $84,000 signals a troubling trend for investors, as bears take the lead. With BTC's fall near $81,000 leading to $1.77 billion in liquidations, analysts predict a potential drop to $74,508. According to Cointelegraph, the crucial support at $80,600 is now under scrutiny. If bears push Bitcoin below this level, it could extend losses significantly. Some analysts remain hopeful, suggesting a possible bottom in the coming weeks, as BTC's historical patterns indicate a delay in recovery compared to gold's performance.
Ether (ETH) isn't faring much better, trading below the $2,787 mark and signaling continued selling pressure. The report noted that if ETH fails to hold above the $2,623 support level, it could plunge further to $2,111. Meanwhile, BNB struggles to maintain its position above the uptrend line and may see a decline to $790 if sellers prevail.
XRP dropped below $1.77, with critical support at $1.61 now in jeopardy. Solana (SOL) also faces downside risk after breaking below $117, while Dogecoin (DOGE) closed under $0.12, marking a resumption in its downtrend.
As Bitcoin and major altcoins navigate this challenging market, the focus is on how buyers respond to defend key support levels. If they fail, a wider market downturn could unfold, impacting investor sentiment significantly.